I received both my federal and state tax refunds this week, and I promptly deposited them in my ING direct savings account. I now have 5947 in savings. To put this in perspective, at this time last year we owed over 11.5k in debt, with NO savings or money in our checking accounts. We were flat broke. Now, we have well over 8k in our checking and savings accounts, with no debts. If you will create a plan, stick to it, and get back on plan after you fall off, you can make great progress. Trust me, this stuff works. Click this link to see my latest chart over at the No Credit Needed Network.