We’re always looking for new members, so check it out!

ING was my first account, I liked the interface and usability. Emigrant Direct was my second online bank. I switched because it had higher interest rates but it wasn’t that much of a thrill. Both accounts are liquid, but do require about 2-3 days to transfer money to and from your regular checking accounts.

I still use both, but I use Citibank’s online checking and high-interest savings more often because it’s easily accessible and that’s important to me. (and vice versa: when it’s important to make sure it’s difficult to touch my savings, I would deposit that money with either ING or ED.)

Because we were tired of only earning .5% on our emergency fund, we bought a CD that was paying 4.25% APY which seemed like a good idea. If I were to go back, I’d probably throw it at an ING savings account like the one we opened 5-6 months ago. We’d be earning more and the entire amount would be liquid with no penalty for early withdrawal.

Another interesting idea is to throw the money into a Roth IRA. Suze Orman (I know, she’s not my favorite either) said, “you don’t have to wait until you’re 59.5 to withdraw any of your original contributions to a Roth account; you can take out your own money any time you want, for any purpose, without paying taxes or a penalty, because it’s already been taxed. It is only the earnings on that money that have to stay in the account for five years and until you are at least 59.5 years of age.”

http://www.suzeorman.com/igsbase/igstemplate.cfm?SRC=MD012&SRCN=aoedetails&GnavID=20&SnavID=21&TnavID=&AreasofExpertiseID=32

That’s something to think about too!