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When I first started my savings journey, I was a rate chaser.

Online savings accounts totally changed my outlook on money and I was excited to be saving. So when a better opportunity came along, I moved my money.

I learned a lot about the different savings accounts available, but I spent more time managing my money than just letting it grow.

I was a rate chaser. I admit it. Are you?

Here are five signs that you might be a rate chaser:

1. You have more than 5 open online savings accounts.
   Do you really need 9 savings accounts? No, you don't. Close the ones you don't use … now!
2. You've lost more money moving your savings around than you've made with it sitting in an account.
   When you're moving your money, it isn't gaining any interest. With some banks taking a couple of days to transfer your money, you could be missing out. Jonathan at My Money Blog has a good calculator to determine if it's worth it to move your money.
3. The ACH has told you to calm down.
   The Federal Reserve limits the number of ACH transfers to six per month. If you're going over that, you might be a rate chaser.
4. You sign up for promo rates, even with strings attached.
   Not all promo rates are created equal. If you're opening an account that comes with fees, minimums or other rules that the competition doesn't have, you might be a rate chaser.
5. Your money has moved more times than Kenny Lofton
   Lofton was recently traded to the Cleveland Indians, his third go-round with the Tribe and his 11th team in the majors. If your money has moved 11 times, you probably are a rate chaser.

While moving your money is totally appropriate in certain circumstances, there are a lot of reasons not to be a rate chaser.

Get excited about saving money, but don't get so excited that you're making spur of the moment decisions that may not be worth it.

Are you a rate chaser? Confess below!