Multiple E*TRADE accounts

A couple posts ago, I commented on my spending discipline. I just took a step to help me maintain that discipline. I opened up a separate bank account just for emergency funds.

I used to have a E*TRADE Bank Complete Savings account. It has solid features and a high yield - beating Bank of America CDs, for example. The interest rate applies to every dollar in the account - it's not tiered. Now I have two! E*TRADE is kind enough to allow people to open as many as they want, it would seem. The interesting thing is that this basically eliminates the limit of 6 withdrawals a month because you can always transfer money over to another savings account and withdraw from that.

I have never hit the withdrawal limit, so that didn't enter into my thinking when I set up the account. I was just thankful to have the option to create a separate bank account with just as high of an interest rate. I can rename it to "Do not touch" or "Emergency Funds" or whatever else will make sure I'm not tempted to spend it. I then set up an automatic transfer from my old savings account (which gets my direct deposits) to my new one. Now I'll always have enough cash on hand in case I otherwise forget to set aside cash (say, for property taxes or insurance). Thanks, E*TRADE!

Plea for help

In case you haven't noticed, the stock market hasn't been doing so hot in the last few days/weeks/months. But you know what's cool? You can help! You can go out and buy something right now and improve the economy. You want to help even more, you say? Well, you're in luck! You can go buy something, break it right away, and buy it again!

Recommended products to buy: Garmin GPS devices, AMD/ATI computer parts, E*TRADE financial services/products.

Thanks guys!