This article is going to describe a money saving system using ING Direct.  This system will help you to save money and all you need to do is open an ING Direct checking account and an ING Direct savings account.

Step One:  Open an ING Direct Electric Orange checking account.  ING’s Electric Orange account is one of the best online checking accounts.  They pay a high interest checking rate and provide nice online banking software.  You don’t actually have to ever write paper checks again once you have an ING Electric Orange account.  With this high interest rate checking account you can write electronic checks and send them over the Internet.  That is great.  I hate having to use a check book.

Step Two:  Open an ING Direct Orange savings account.  As I have stated before at this article on ING Direct savings accounts, the ING Orange account is a great high interest rate savings account.  Visit the ING site to learn about the current ING savings rates.

Step Three:  Have your pay check direct deposited into your ING Direct Orange savings account.  This will make sure that you are earning a high interest savings rate right away with your paychecks.

Step Four:  Move money into your ING Direct electirc orange checking account for the amount of your bills.  As I wrote about in this article about ING direct electric orange, you don’t have to worry about overdrafts with this high interest checking account.  Instead of charging you a $35 overdraft fee, ING instead will give you a loan bearing a reasonable rate of interest.

Step Five:  Save more money then you spend.  As with any money saving system, you will not be sucessful with this money savings system using ING direct if you spend more than you save.