Need Advice on Saving $$$

Hey Girls,

I found out I was pregnant end of July and since then we have been saving $$$ for when the baby is born.

I am 11 weeks 4 days and my due date is March 29.

Since we found out, we decided to live on DH's salary and try and bank most of mine.

What I have been doing is each paycheck I put in anywhere from 600 - 1000 into my Tiaa-Cref mutual funds.

My question is where do you think is the best place to save up $$$?

I have been putting it in mutual funds because honestly, I actually have to call Tiaa-Cref and ask to w/d $$$. So it is hard for me touch the $$$.

With a savings account that I have online access to, we tend to touch the $$$.

Any advice ladies?

Also, how much if any, did you save for when the baby arrives?

Message edited 9/12/2007 7:03:53 PM.

Re: Need Advice on Saving $$$

we opened an ING direct account and its great! u get 4.50% interest or so and u cant take the money right away it takes a few days so we dont touch it

Re: Need Advice on Saving $$$

Re: Need Advice on Saving $$$

everything is online. you deposit money by transferring from an account you have elsewhere...for ex i have an account at WAMU so i deposit all money into the account at WAMU and transfer whatever i want over online...its sooo easy and worth it!

Re: Need Advice on Saving $$$

Re: Need Advice on Saving $$$

Re: Need Advice on Saving $$$

Re: Need Advice on Saving $$$

If you are saving money to use for when the baby gets here, I would think twice about using any type of mutual fund that was not a cash equivalent. You may want to look into a CD with a maturity date (or dates if you want to ladder them) that coincides with when you would need to use that money. Investing in any type of equity or bond fund may not be the best for short term investing.

Re: Need Advice on Saving $$$

We opened an on-line account with HSBC - I think it gets somewhere between 5 and 6%.

Re: Need Advice on Saving $$$

I have money on the side in an ING account.