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Where do you put your extra cash?

Should I open an online savings account?

     
1:55 am on Sep 13, 2007 (gmt 0)

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I have a little extra money now, I think that an online savings account at ING would be best. It seems like they have the highest interest rates and I can get the money out within a few days if I need it.

Has anyone used this bank or have you heard anything about it that I should know?

Other than that I could try to join a credit union, or just buy a CD at my regular bank but even the CDs have lower interest rates than ING and I can't get my money for 6 months to a year.

What do you guys do with your extra cash?

2:28 am on Sept 13, 2007 (gmt 0)

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What do you guys do with your extra cash?

If you're UK based then premium bonds are good for smaller amounts of cash.
1:01 pm on Sept 13, 2007 (gmt 0)

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personally speaking i invest the cash in new projects like websites, blogs and so on.
2:00 pm on Sept 13, 2007 (gmt 0)

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personally speaking i invest the cash in new projects like websites, blogs and so on.

Same here. Unless that

little extra money
is enough for you to put away and live off the interest alone, or unless you're only 3 days away from retirement, get that money working aggressively for you. :)
3:25 pm on Sept 13, 2007 (gmt 0)

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Been using ING for close to 2 years now- absolutely love it! Interest rates are very competitive, getting money out is easy (although does take a few days), and transfering money between ING accounts is instant (already have savings, checking, and business savings accounts with them, will probably add a CD soon before rates drop).
6:12 pm on Sept 13, 2007 (gmt 0)

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Amtrust Direct at www.amtrustdirect.com has a better rate than ING and are reliable and solid according to me.
8:44 pm on Sept 13, 2007 (gmt 0)

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i invest the cash in new projects like websites, blogs and so on.

That sounds interesting, can you expand on it and explain a little more about what you mean?

10:35 am on Sept 19, 2007 (gmt 0)

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Hide it under my mattress :)
11:31 am on Sept 19, 2007 (gmt 0)

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When I worked venture capital, an elderly gentleman in Phoenix was asked where he kept his assets, and he replied, "Buried in the backyard." Pretty funny, since they use flood irrigation in Arizona.
11:36 am on Sept 19, 2007 (gmt 0)

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he replied, "Buried in the backyard." Pretty funny, since they use flood irrigation in Arizona.

That is funny Marcia.

I wonder how he would have said it if he was investing it online. "Buried in Adwords"

11:35 pm on Sept 19, 2007 (gmt 0)

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"Buried in the backyard." Pretty funny, since they use flood irrigation in Arizona.

Make sure you are standing downstream with a big net when the do the flood irrigation :)