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One very easy way to make some extra cash each year which often goes overlooked is through a high-yield savings account. While its probably not going to be a huge amount of cash, if you have a savings acount anyway (and you should), why not have one that will make you a little bit extra at the end of the year?

For instance, an Orange Savings Account from ING Direct currently has an APY (Annual Percentage Yield) interest rate of 4.10%. Meaning, for every $100 in your savings account, you’ll get an extra $4.10 for doing nothing at all; simply by letting the money sit there. Of course your current savings account earns interest too, sure, but that APY is most likely well under 1%, earning you virtually nothing at the end of the year. Plus, the ING Orange Savings Account makes great sense because the interest rate is better than most money market accounts, yet your money is instantly accessible.There’s more good news: ING has fewer fees than most banks because it is online only, making it easy to set up your account in just a few minutes; and there is no minimum deposit and no banking or transaction fees.

It is also very simple for you to control your money (maybe even easier than going to a real bank): you can easily link your ING Orange Savings account to an existing checking or savings account at a brick-and-mortor bank and move money in either direction, instantly, whenever you want. But best of all, ING helps you automate your finances by letting you set up automatic transfers so you can set aside a fixed amount of money on a regular schedule — say once a month, or after each pay check, for instance — and watch your savings grow. Click here to sign up with ING Direct and give it a try for yourself.

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