I have earned a whopping $5.19 from selling a couple really cheap paperbacks on Half.com this past two weeks. I'm opening up a savings account at the local credit union to do the following two things
1) Put any money I earn from half.com, photo shoots, and any money I consider snowflake money into this account, now called the Snowflake account.
2) Use this account as the car fund account.
I am keeping my ING account, but I'm not disciplined enough (read LAZY) to deposit money to my main checking account and then transfer it to the ING account. It means I to remember to bring my log in information to work to check my ING account. I can drop these checks off to the credit union at on my way to work.
The ING account is going to become my emergency account and I have already set up the direct debit from my main account. My old emergency account is going to be "frozen" as of this Friday's payday. I currently have a debit card on this account and it's been too easy to borrow from this account. I can't readily borrow against the ING account. No debit card access. :)
Plus, I have been told by a number of folks the credit union has favorable terms for car loans, even to folks with bad credit like myself. So I'm trying to plan a head for once!