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Most people know that online savings accounts offer safety, security, high interest rates, low fees and a certain convenience that appeals to many consumers. But online savings accounts are just there to hold your money and help it earn interest. They cannot make your efforts to save money successful. Instead, you need to have discipline in order to set up an account that eventually grows to have enough value to meet your future needs.If you manage to combine some self-discipline with the high interest of an online savings account, you may find financial success. There are several steps that you can take in order to make this happen.Step 1: Set up automatic deposits. It is not enough to open an online savings account and just leave the initial deposit sitting there collecting interest. You must continue to add to its bala fiat currency nce in order to maximize the generous interest rate and compounding interest structure. When you set up an automatic deposit into your savings account from your checking account, you ensure that a regular contribution is made to the account. This contribution is one you likely won’t even notice since you don’t need to do anything to initiate it each month.Step 2: Avoid dipping in. When you start removing money from your online savings account in order to indulge in impulse purchases and other non-necessities, you hurt your chances of having a successful savings plan. So try to keep an out of sight, out of mind mentality about your savings account. The less you tap into it, the more it will grow.Step 3: Plan for taxes. When you earn interest in your online savings account, you eventually need to pay taxes on that interest.