Savings...reaching one unspoken goal

I have worked very hard this month to put a little more in savings than normal. I got almost an extra 200 bucks put away.

One of my unspoken goals is to have 5000 saved. Now, this won't be my entire emergency fund, but just a start. I would like to have at least 12,000 for an emergency fund, eventually.

I opened my first online savings account with HSBC. I opened this account in the beginning of February with a 25 dollar bonus and 4.80 % interest until the end of April . This was a good way to get my feet wet and try out this whole internet banking deal. I have found that this works wonderfully for my savings account and there are many good interest rates to be found. My credit union doesn't even come close!

Next, I just recently opened an e-trade money market fund with a 50 dollar bonus and a pretty high interest rate for 90 days(which I am trying to figure out...when I signed up it was 4.something and now on their site it says 3.7). You have to do things like keep it open for 120 days and have an average monthly balance of 1000. Not bad. The more money I don't have in my credit union account the better. If I don't see it then things are great. :)

After changing my deductions so that I get more direct pay and less tax refund, I now put the difference into my HSBC account, monthly. I have to keep a certain amount in my credit union account to qualify for free bill pay...it is worth it to me.

Right now my total savings is up to: 4,529.25

I will be at 5000 next month! Baby steps!!