As I have stated in my goals for this year, I want to become more in tuned to my financial situation, especially in regards to my savings. I've been on auto-pilot for about the last 6-7 years just letting the chips sort of fall where they did. I know because of this I've lost A LOT of $$ in possible interest. I'm now ready to do something about it.

First, a bit of background on what I'm trying to achieve:

My paycheck is direct deposited into my local bank's checking account that makes UNDER 1%. Usually I go into the bank a few days after the check's deposited and transfer about half into my regular savings (.46%, bad, I know), just in case I need it. Pretty much, that's my emergency fund.

When I get what I feel is too much in the regular passbook savings, I transfer it into an account that pays 4.16% and allows additions, but doesn't let me pull the $$ out unless I need $500 or more. You're allowed up to three withdrawls on it over the course of three months before it renews.

From what I've read on these forums, if I'm understanding correctly, internet banks like Ing and Emg. tie into your regular checking and you can EASILY transfer funds from one account to another. I would like to be able to have most of my paycheck transfered to the higher paying account and only pull out what I need into the VERY LOW paying checking account when I'm actually paying off my bills.

There's usually a period of 2 1/2 weeks between when I get my paycheck and when I need a chunk of $$ to pay off bills. I would like to make as much interest off that paycheck as I can.

I've asked for help in the main forums, but I'm actively looking into how I can get this done before my next paycheck at the end of the month. *fingers crossed* We'll see where this leads me.