Comments on: Whatcha Know About ING & Their Sub-Accounts?

By: J. Money

J. Money — Mon, 05 Apr 2010 03:52:31 +0000

Interesting, I’ve never thought about whether USAA caps the # of savings accounts you can open or anything, good point. Guess they just don’t market it as well as ING does ;)

By: Bill Brasky

Bill Brasky — Sat, 03 Apr 2010 16:26:13 +0000

I do this currently through USAA. Just open up multiple savings accounts. I have opened up five so far and they are categorized under a “Sinking Funds Budget”. I have certain amounts withdrawn from my checking that go into each account every two weeks. ING is not the only bank that allows this.

By: J. Money

J. Money — Tue, 23 Mar 2010 14:26:48 +0000

Haha….I know, this does come out kinda like a commercial, doesn’t it? :) Really wasn’t my intention, just wanted to help spread the love and get some more opinions on it all. Hoping USAA will read enough posts like this around the web to create something similar too!

By: Kristin

Kristin — Fri, 19 Mar 2010 11:34:25 +0000

I have an ING account broken out into:

House downpayment fund (DO NOT TOUCH!)
Emergency Fund – in cds
Vacation Fund – so I never have to say no to a spur of the moment trip
Rent and Utilities Checking – I transfer a set amount of money here each month that will cover everything, and if there’s anything left at the end of the month I let it build up for big house purchases like a new couch :)

The checking account actually pays interest. They don’t give you a checkbook, but you do get a debit card and you can send checks through the the online program.

By: Keith Morris

Keith Morris — Mon, 15 Mar 2010 14:22:14 +0000

I have ING and several savings accounts:

Emergency Savings
Future Car Fund
Charity Fund
Sister’s Graduation Present Fund

By: Kristen from FiLife

Kristen from FiLife — Mon, 15 Mar 2010 04:09:55 +0000

wow – this reads like a giant ING commercial – that works! I’m going to have to check out the sub-accounts.

By: J. Money

J. Money — Sun, 14 Mar 2010 05:09:09 +0000

yeah i have to use the spreadsheet method too to divy up my savings w/ USAA….def. gets old.

By: Mrs. Accountability

Mrs. Accountability — Fri, 12 Mar 2010 20:17:43 +0000

Just today I called the credit union to get the routing number and full account number so I can move money into one of my ING Direct sub accounts. I keep all our savings in one account right now, and keep an Excel spreadsheet so I know how the money divvies up. But I keep thinking it would be great to have the money in its own account… I do know one thing, if you want the account to be joint, the second person has to have their own individual account.

By: Jeff @deliverawaydebt

Jeff @deliverawaydebt — Fri, 12 Mar 2010 18:53:18 +0000

Sub accounts are the only way to go. I have 15 sub accounts and all my money is routed through them. The mortgages and taxes are drafted from the "housing" account. All Utilities are drafted from the "utilities" account and so on. I love it, we just move the budgeted money from our checking (ing orange) into each account and that's it.

Rock on Brother!!

By: donkee

donkee — Fri, 12 Mar 2010 00:53:32 +0000

Great idea with the sub-accounts.

I have ING savings for my e-fund and that's about it. Oh, I have an IRA with Sharebuilder, I guess that counts too?

I like the Christmas fund idea, although a Vacation fund is more URGENT right about now!