I currently have four saving accounts and they are all with ING Direct. I have EF fund, Hawaii vacation fund, House down payment fund and Christmas Fund. Creating subaccounts with ING was very simple. There are so many pf bloggers out there have already explained how to open subaccounts step by step so I am not going to repeat them. • Get Rich Slowly mapped out very well. In fact I followed her 3 steps “How to open multiple accounts at ING direct”
• I’ve paid this twice explained it with her style “Creating Subaccounts in ING Direct Savings Accounts”
• Have you ever used ehow.com? I found their steps easiest to follow. “How to open sub-accounts at ING Direct”
I will probably never keep a lot of cash in my savings since the return is not good at all. My goals for my subaccounts are:
EF: $1,000 just to keep it simple anything over $1,000 will go into investing accounts
Hawaii Vacation: $3,000 Once I go to Hawaii, the name will change but regardless I will always have a vacation fund.
House Down payment: $60,000 I will probably move this money around everytime it reaches $5,000. I’d like to have $60,000 saved in 5 years
Christmas Fund: $500 need any explanation?
