Decide where to put that payment

If you plan to sock money away for a few years until you hear a specific savings goal, could your "pay-yourself-first" money be automatic contributions to an investment fund or other stock-oriented Fund. If you need the money to be more liquid than that, consider an online savings or money market account that is linked to your current checking account. Many of these online-only accounts are insured by the Federal Deposit Insurance Corp. (FDIC) and pay annual percentage rate between 4 and 5 percent or even higher, in contrast to the meager income of about 0.2% to 0.5% for traditional savings accounts. Such an account, go to Bankrate.com (www.bankrate.com), find the section "Comparison rates" on the home page, select "Checking & savings" and "MMAs/savings accounts." (Just keep choosing MMAs and savings accounts as you click through.