Below is the latest balance on our Discover Bank savings account. I've been sending it money like crazy and the balance also reflects most of my eBay sales, holiday gifts and my new goal of sending $250 out to it out of every paycheck. So far I think I'm doing pretty good, the balance right now is $5,647:
Notice the interest rate is 0.80% which is not bad but not good either. I think Ally bank is a little bit higher at 0.95%. I would like to transfer all the money there as soon as I can find the time to open an account. I will also add another $1,000 to this balance as soon as we get our tax return. The goal is to be at $10,000 by June but I see nothing but expenses and more expenses coming up. Whatever happens, I will NOT touch this money.
The emergency fund with Bank of America will also be going up. The current balance right now is $1,000 but I also plan to use the tax return money and bring that up to $2,000 to cover our friend Murphy which I talked about on the last post.