The following Everyday Savings Tip comes from, Tracey:
My absolute no fail savings tip is DIRECT DEPOSIT. This allows the funds to be directly deposited to your account, no check cashing, etc. Best of all its free!! You also resist the temptation to take more cash out then you really need.
From there, set up your bank account to divide those funds into different smaller accounts such as “tuition fund” or “vacation fund”, “household repair account” etc.,whatatever your personal needs are.
We recently had a hot water heater expense and because I had been contribution $20 per check for years into the account, I had the cash available to pay for the water heater instead of charging it.
I recently opened the Capital One Savings account and got a $50 bonus for opening the account. It's all done online but you can easily tie your personal bank account to it for quick transfers between both. And you can open up several checking accounts with Capital One as Tracey suggests and have auto-transfers amongst all of them!
The interest rates are higher than standard brick & mortar banks so I know the money we have saved up for various things is getting a better rate of return!