A Good Old Fashioned Savings Account

As part of my savings plan, I keep a contingency fund that equals three months wages in case something happens where i can't work.  Its a good practice that everyone should try their hardest to accomplish since you never know what will happen in life.  For this, I have an investment savings account with ING Direct Canada

http://www.ingdirect.ca/en/save-invest/savingsaccounts/index.html

While you will not make as much interest as on a GIC or other savings vehicle that requires your money be locked in, a savings account will let you make a little and still have the ability to access your money at a moments notice should you need it.  ING Direct Canada offers a very competitive 1.5% interest rate on their Investment Savings Account.  And with ING Direct, the entire 1.5% interest rate goes into your pocket, not eaten away be fees as with other banks

Use Orange Key 35638912S1 when opening an account, deposit a minimum $100 and get an additional $25 FREE to get a jump start on your savings.