Now, you have done some surveys or gotten some cash back from shopping or been frugal for a few weeks, now where do you put that extra money you now have? Well you definitely don't want leave it in your checking, you will spend it. You could move it your saving at your bank or credit union but the interest is pennies so where should you put it?
Well if you opened a upromise account, also open a Sallie Mae account and set up $25 automated transfers from your checking to Sallie Mae and you will get an additional 10% on your cash back from upromise, that it transfer from upromise to Sallie Mae every time you have $10 or more in your upromise account. This additional 10% will be deposited (they say) in February. Keep in mind that this is a new venture for Sallie Mae and expect problems. For example, they were supposed to withdraw $25 from my checking and deposited it Sallie Mae and they withdrew the $25 from both accounts. It got fixed, but it took awhile and I do not know if they would have fixed it if I had not noticed. But checking the account for mistakes takes me a few minutes every week and I do it with all my accounts so that is not a problem for me. My fiance, on the other hand does not want to deal with the issues so he does not have a Sallie Mae account. At this time the interest at Sallie Mae is 1.40%.
Otherwise save up $250 and open a ING account using a link for someone who already has the account. If you do so, you get an additional $25 (if you leave it open with the $250 for three months) and the person whose link you used get $10. At this time the interest at ING is 1.10%. Looking at just rates, if you were going to pick on high yield savings, I would pick Sallie Mae but the additional $25 makes up for a lot. If you do not know anyone who has a ING account, please leave a message here with your email and I will send you a link.
As you start putting the money in these account, they will begin to snowball and you begin to have more money for less effort.