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The Wall Street Journal has an article about finding the best place to stash your savings, where it wisely suggests shopping around and not locking yourself into a long-term CD.

It pays to save. How much it pays, however, depends a lot on where the cash is stashed. These days, some banks are offering high-yield savings accounts with interest rates around 5%, while other big, national banks are paying 0.2% — or less.

Certificate-of-deposit rates also vary widely. The national average rate on a 1-year CD is 4.85%, according to Bankrate.com. That's less than the rate paid on some savings accounts, which don't require any time commitment.

With such variation, it's a good idea to be proactive. If a savings account isn't getting a rate that's close to 5%, it's probably time to find a better deal.

With rates constantly changing — and new banks joining the scene all the time — make sure that you know all the options available to you.

When you're banking online, you have so many options. You're not restricted to the local brick-and-mortar — the competition is nearly endless for your money. Don't get sucked into a poor-performing savings account.

It's tough to believe that some old-school banks still don't get this.

Not all large banks have followed suit, though. Chase, Wachovia and Wells Fargo aren't aggressively marketing high-interest savings accounts.

Tom Kelly, a spokesman for Chase, says, "A rate is only one part of what we offer."

What a misguided philosophy — just ask ING. When they weren't passing along rate hikes to their customers, they lost a boatload of money — and business.

While it may not pay to be a constant rate-chaser (you will lose time and money while transferring your savings around), you should know if what you're getting is near the top. BankRate.com lists the top-performing Money Market High Yield (MMA) and Savings Account Rates so you can start shopping around.

(< href="http://online.wsj.com/article/SB118158646764631491.html">Where to Stash Savings - The Wall Street Journal)