Let's talk money quickly, efficiently and effectively!
I wish I knew of this weeks ago, but we can't change the past and can only move forward. Suze Orman has teamed up with
TD Ameritrade to offer a
Money Market Deposit Accounts (MMDA) known as the
Save Yourself Plan with no minimum deposit requirement - well sort of. Here is why and how to do it:
Why/Explanation of MMDA:- A high-yield FDIC insured savings account that has less administrative fees, but is less liquid than a regular savings accounts, meaning there is a limit to how many checks/withdrawals can be made from the account.

- A great way to save money that you don't want to be tempted to touch. Maybe it is for an emergency account that is 3 months worth of your regular expenses in case something happens; saving for a new car or for a trip with friends overseas.
How To:It is GREAT news and HUGE opportunity that
Suze Orman and
TD Ameritrade teamed up for this offer. Almost all, at least all of MMDA's I have seen, require a minimum deposit to open an account. Sometimes $500 but usually $1K or more. Why? Because MMDAs are designed for those that have substantial money in their savings account, and can put their money in a higher yielding (a higher interest rate) account to make more money.
Important Notes:- No minimum deposit is necessary to open a
Save Yourself Plan account, but you have to setup an automatic deposit for at least $50 a month. The first $50 has to be made within 30 days of opening the account - which is not bad at all.
- The GOOD CATCH is that after 12 consecutive months of deposits TD Ameritrade will deposit $100 into your account.
Additional Details:- I did some research on
BankRate.com and the MMDA yield ranged from 1.25% to 3.30% so TD Ameritrade's current 2.78% as of February 1st is on the higher end.
- You will get regular emails form Suze Orman to encourage you on your saving endeavours along the way.
Very Important:- You need a code inside her book to get started, but of course I googled and found it. It is
701This is a great way to open an MMDA without having to wait until you have $2,500 on hand.
Definitely take advantage of this offer you only have a day left to do so!