by Jody Barnes

Created on: April 10, 2008

We all wish that saving money was easy, but with rising gas prices, inflation, and a plunging stock market, its difficult for anyone to meet their savings goals. However, there is an orange beacon of hope for the average consumer who wants to make their bottom line grow: ING Direct.

ING direct was among the first entrants to the online banking industry, and because they don't have the operational costs and overhead required to support physical bank buildings, they are able to provide some of the best interest rates to their customers, whether the individual has five or five million dollars in the bank.

I have been saving with ING for over 5 years, and despite setbacks due to medical emergencies, family expenses, and the other crises we all face, my bottom line is still growing.

The best thing about ING is that the system is set up to reward you for saving your money. There are no fees for setting up your account, and if you were referred by a friend, you receive $25 in your account. Once you are a member, you have the option to refer more friends and family - and for every one who opens an account, you are rewarded with $10. While an extra ten dollars isn't going to allow you to retire early, ING also offers opportunities to increase your account by more than one thousand dollars, by holding prize drawings in which every account holder who uses direct deposit or transfers at least $100 into savings each month has an opportunity to win cash prizes. Even when money is tight, I feel good about automatically saving money each month, because it may pay off sooner than I planned!

When I log into ING's website, I immediately see my checking, savings, CD accounts, and my bottom line. Each account can have a meaningful nickname attached to it, so that I can save toward specific goals. For example, I've been hoping to save enough so that I can travel to Africa, and I have started a CD specifically to keep earning interest on the money I've allocated toward that goal. I also see the maturity date for all of my CDs, so I can plan to renew them or transfer the money to a different account. ING, by far, has the best website for managing your accounts online. I have accounts at other banks and credit unions, and my ING account is the easiest for moving funds, downloading my recent transactions and tax documents, and seeing how much money I have.

While other online banks may offer higher interest rates, ING Direct typically provides the highest interest rate to savers with less

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