Opening Another ING Savings Account

October 6th, 2008 | 7:51 pm | Posted in Finance, Savings | 3 Comments »

The way ING does things is a little wonky. They make it seem like it’s so easy to open multiple savings jars under one account, but I know I’m not the first to find their way of doing it a little bit confusing.

I don’t know — clicking on a link titled “Open an Account” indicates to me that I’ll be getting a new account number, login, and password. That’s a lot of hassle. Maybe that’s just me?

But when you click on that link, that isn’t what happens. You keep your current account number, login, and password — they just add a new “bucket” to add funds to.

Perfect — exactly what I was looking for.

So why am I doing this?

Well, I want to keep some of my savings off to the side.

Since I finished paying off the auto loan last month, this will be my first month in over 11 years that I won’t have to pay a car bill of any sort.

The thing is, I’ve grown accustomed to paying that monthly bill. It’s just part of the budget, you know?

After so long, I barely even notice the money missing each month, so I’m going to keep paying it — to this separate savings account.

The original Volkswagen minimum payment was $224. The original BMW minimum payment was $689 — that makes my head hurt. And the original minimum payment on the Scion was $289.

Averaged together, the monthly bill was/is $400. And that’s what I’m going to set aside each month — but not yet…

I can’t afford it!