Going in to work and demanding a raise might not be too smart, but there is a way to get one that will actually show up in your next paycheck. Here’s the deal…

Your employer withholds a percentage of your paycheck every week for income taxes. The problem is, most people have too much withheld. And, while that might result in a big refund check at the end of the year, it’s really poor financial planning. You are deprived of that extra amount every paycheck and the government doesn’t pay you interest for using your money all year. It’s basically like giving the IRS an interest-free loan for over a year.

If you had that money coming in all year, you can put it in the bank and earn 4% interest or more on it. Instead, the government is holding it, and earning interest on it for themselves.

Here’s what you can do:

Ask your payroll department for a new W-4 form. That’s the form that your employers uses to calculate how much money to take out of your paycheck each week.

Then use the IRS’ withholding calculator. Follow the simple instructions to arrive at the new amount that should be withheld. Then just complete the new W-4 and hand it back to your employer. Wham! Your instant pay raise could be in your very next paycheck!

Now when next April rolls around, some of your friends will be bragging about how big their tax refund was. Be sure to brag about how small your refund was, and when your friend looks puzzled, tell them that you decided to start keeping all of your money instead of letting the IRS hold some of it for 15 months. Then send them here. maybe they can learn a thing or two.

People everywhere are realizing how much interest they can earn with an online savings account. With rates close to 4%, it’s easy to earn hundreds of dollars more every year than with the 0.5% that many regular banks offer.

These banks are FDIC insured, just like your current bank, so there is no risk, like if you put your money into a fund.

Her are a list of the best high-interest online savings accounts:

- The WTDirect Account offers a rate that is always in the top 5% of savings account rates nationally. This is one of the best I’ve found.

Orange Account - The Orange Savings Account from ING Direct was one of the first online savings accounts to offer a high APY, and it is still one of the best. Rates change from time to time, but have been between 3.00% and 4.50% over the past year or so.

Washington Mutual - You can earn a very high rate with a WaMu Savings account, if you open a free checking account as well. The high interest rate is well worth the extra step.

Capital One Savings Account - Capital One offers a very competitive rate; one of the best among top national banks, in fact.

These savings accounts all have no fees, no minimum balance, and opening an account is as easy as linking it to your current checking account, and transferring $1 or more. That’s it! There truly isn’t a better and safer way to earn great interest on your cash.