Now that I have grown older and wiser, I am starting to decide how to make my money work for me. I already have a decent sum in GICís at TD Bank, but that will give me peanuts after two years, which is the maturity period. I was going to get a savings account, but then I found out the minimum was $5 000 and at the time I was planning on using my money to buy a new motorcycle and did not want to pay fees for taking money out of my savings account.

I started looking at INGís website and what they offer seems pretty enticing. Their savings account offers 3.00% with no fees, including penalty fees which is pretty good. They also have this other savings account that locks your money away for 1 to 5 years, and gives you 3.70% to 4.05% respectively. Now, any of these rates are better than the 2.90% TD is offering. Well, actually its 1.5%, but if I keep it in till October 2006, then its 2.90%.

The only reason I went with a GIC was that the money wasnít tied up, and if I needed it I could get it without paying exuberant penalty fees. Now I am thinking of just cashing in all my GICís and putting that amount into the 3.70% interest account from ING, and placing whatever I have left into an ING savings account. That sounds copacetic.

On top of that, I was thinking of placing a small amount in an RRSP but I canít remember if there was a minimum amount you needed to start off with.

Trying to get your money to work for you is hard.