The Cultured Girl

It’s astounding to me how many 20-somethings just do not save money. There’s really no excuse when it’s so damn easy to open up an Orange savings account at ING Direct. These online savings accounts, which Cultured Girl Lizzy wrote about in 2004, basically throw off free money—an astounding 4.15 percent annual percentage yield, to be exact. (By comparison, a basic savings account at your bank typically earns a measly 0.5 percent.) Every step of the enrollment process happens online, and you can log in anytime to transfer money from your checking account to your ING account. Plus, it’s really fun to watch that interest money just magically appear. I guarantee it will be the easiest income you’ve ever earned.