Often I’m asked how I saved money to move to Thailand for an extended amount of time. I’m one of those people who budget well regardless of how much I make. I work within the limitations of my earnings. I also employ a simple financial strategy that includes GICs and a high interest savings account that I manage on my own.
I recently received an email from ING Direct, the banking service that is outside the traditional bricks and mortar bank. As a part of my financial strategy, I put as much as I can in short-term or longer term (i.e. one year plus) investments. Money that would normally sit in a Canadian bank, earning little interest, can easily earn more invested with ING Direct. If you’re not interested in investing, an ING savings account still earns more than any traditional bank I researched in Ontario and you can use the money / deposit it into your traditional banking account anytime you’d like.
A great way and painless way to start saving money is to use an automatic withdrawal service moving cash from your regular account into a higher interest savings account. For example, every paycheck or month, you can immediately and automatically move any given amount into an ING account before temptation sparks. Sort of like, if it’s not visibly in your traditional account, you may be apt to forget about it when you hit the ATM near last call, or during that sale, or whatever it is that you wish you didn’t do on occasion so you’d have more money. And it will build on its own. With interest. And no fees.
Currently ING Direct has a promotion where, if a new client opens an account of $100 or more, using my promotional code, both the new client and myself will earn $50 each. That means your $100 will immediately become $150. This offer only lasts until December 31, 2011 then goes back to the regular rate of $25 for opening an account with my promotional code.
For those of you reading this post outside of Canada, I suspect my promotional code may not work. However, I still recommend ING Direct. I’ve never had an issue with them.
Lastly, please excuse the sales nature of this post. Once in awhile if a product or a deal is available that I can attest to / have used and I think is beneficial, and in this case, mutually beneficial, I plan to share it. You will always know if I will benefit from the product as well.
Thanks everyone for reading.
Click on the link below to take you to ING Direct. Please remember to write down the promotional code (I have no idea why they haven’t updated their widgets for this promotion).