Says Pohler while thumbing through Parnell's self-help book, Don't Buy Stuff You Cannot Afford, "Look honey, there's a whole section here on how to buy expensive things with money you've saved." To which Martin replies, "And where would you get this saved money?" At SmartyPig, we've got your answer.

From the drawing board to our launch last spring until now, SmartyPig has been, and always will be about helping people save money for specific goals - items that otherwise, most could not purchase out of pocket. We simply want to help people move away from the "buy now, pay later" credit card mindset that has gone a long way toward ensuring our rough economic ride. We understand that credit cards aren't solely destructive and not everyone abuses them, but in this post from a few days ago it shows how delinquency rates are on the rise. Average debt has increased, while credit card companies continue to gouge customers with up to 24% interest in some instances. There's no way around the simple fact we all need to work on our fiscal fitness, we need to depend less on plastic, and we need to "Not Buy Stuff We Cannot Afford."

Says Martin at one point during the skit, "So I buy something I want and then hope that I can pay for it, right?" Parnell replies, "No. You make sure you have the money, then you buy it." We couldn't agree more.

Credit card companies have situated themselves smack dab in the middle of college campuses across the country and have set the bait for uninformed, sometimes naive and ignorant students, fresh on the college scene. In a recent Newsweek article, author Kurt Soller examines the effects on credit card companies' invasion on college towns. Luring uninformed kids in with small incentives such as free sandwiches or coupons, they cast a line and, sadly, far too often reel 'em in. Within months some of those kids are up to their eyeballs in debt from trying to keep up with the crowd. The credit card companies offer "freedom." What a majority of students end up with is a form of debt jail. As the old saying goes, "There is no such thing as a free lunch."

According to Experian, of all college seniors, 96% have credit cards, and the average indebted young adult spends 25 cents of every dollar paying back debt. Factor in taxes from a first job, and it's going to take you some time to simply get out from under. A survey conducted by Transunion.com stated for the third quarter of 2008 that the average bankcard borrower debt increased nationally 1.57 percent to $5,710 from the previous quarter's $5,621, and 6.0 percent compared to the third quarter of 2007 ($5,387). And delinquency is on the rise as well. Nationally, the ratio of bankcard borrowers delinquent on one or more of their bankcards increased in the third quarter of 2008, up 4.8 percent over the previous quarter. And on a year-over-year basis the national delinquency incidence rate has risen 5.8 percent. Staggering, huh? Well, just think of the billions credit card companies are raking in on late fees as the cherry on top.

SmartyPig is a solution to this debt dilemma plaguing campuses and households alike. Paying exorbitant interest, and more often than not, making only a minimum monthly payment leads to years of heartache. By saving with SmartyPig for the things you want and need, you won't encounter the problems that come along with plastic. Creating goals and contributing to them each month ensures worry-free spending once you've met those goals. Save first, buy later. Some people have labeled it "Bank 2.0." We just think it's common sense for an upside economy.

And second, we've updated our "Features" page in the "About Us" section of the site to included a number of videos providing an in-depth look at some of the many unique features of SmartyPig.

Hope you are enjoying saving with SmartyPig. Please let us know your thoughts and if there is anything else you'd like to see on the pig.

Mike Ferrari, co-founder

We had over 130 responses! The video revealing the winners is a quick one:

Congratulations to RoboJenny, rgiertz and mdcaldbeck! Please make sure to DM us your address via Twitter so we can send out your $100 SmartyPig gift card!

Here are those that made it into the top 20 - thank you for playing and better luck next time! JenniPullen, SpenceMan01, nickcooper, okaymaria, dyanysus1116, godsgeek, chewbocka, Fizzlebearsbaby, veddebra, abkadefgee, zenaburns, chriswoods85, ChrisSnider, lynndro, sfedd, daniAWESOME, chrispund.

1. After 15 minutes, we will be picking 20 random people with a number generator from the pool of correct answers.
2. We'll be bringing back a trusted method in selecting three gift card winners.
3. We'll post the process here on our blog, so everyone can follow along!

Make sure:

1. You're following us on Twitter.
2. We'll ask the $100 question on Friday, February 20th at 11am CST.
3. Answer the question correctly for your chance to win!

Remember: if you don't already have a SmartyPig account, it's free to set one up! Winner must be in the US.

Good Luck!

Rethinking finances. We're all doing it. Scrimping here and saving there. As tens of thousands of jobs are being cut each week (http://swampland.blogs.time.com/2009/02/06/how-bad-is-it/) and the jobless rate rising at levels not seen in years, being prepared financially is one of the most important and best things you can do for yourself.

A few weeks ago I referenced this article (http://today.msnbc.msn.com/id/28436623/) from MSNBC, which suggests you "Save for one month's expenses. Put 10% of your take-home pay into an interest-bearing savings account. Plan to have saved at least one month's worth of expenses - or better yet, one month's salary - by the end of the year. Have at least 10% of your paycheck directly deposited to savings, the rest to checking to cover monthly bills. If you can't do direct deposit, have the money automatically taken out of your checking account every month on payday... Ideally, to have a really comfortable cushion, you'll need to save at least three to six months' worth of income."

Start by setting aside money from each paycheck and placing it in a SmartyPig 'Emergency Fund' goal, only accessing it in the case of just that, an emergency. Start at your own pace. Figure the percentage of salary or paycheck you want to save each month, the total amount and when you want to save it by. SmartyPig will figure out your monthly contribution, which will go directly towards your emergency funds. Once you've met that goal and are sitting on a comfortable cushion, you're funds will still be earning a competitive APY until you're ready to use them. And if an emergency does occur, you're able to stop or close your goal an access your funds at any time.

Being prepared, especially in 2009 is imperative. We all hope that circumstances like this won't happen and it's time to have a nest egg, not just a nest.

To void a transaction, click on the "Transaction History" link under your goal.

Click on the "Void" link next to the transaction you wish to void. Please note an ACH transaction can be voided for a limited time on the day in which it was initiated.

Confirm your void, by clicking "yes".

SmartyPig will confirm the success of your void.

Click on the "back" button to view your transaction history. As you will see, the transaction has been voided and is no longer listed.

It is a sentiment that has stuck with me, and it makes me wonder about today's youth and their spending habits. Are they thinking of how they're spending money and where it's going? According to Experion, 96% of college seniors are carrying credit cards and will spend nearly twenty-five cents of every dollar paying back debt. Young Americans now have the second highest rate of bankruptcy behind those ages 35-44. Why experience the painful effects of debt when avoiding it all together can be reality?

Though dealing finances as a young adult can be difficult, learning the value of a dollar at a young age is crucial, especially now during these tough economic times. Share your SmartyPig goal with your children. Make them a co-owner on your account and help them set up a goal. Not only will they be saving money with the pig but they'll also be earning interest, which is an important and educational piece all in itself. They'll be able to watch the pig fill-up each time money is put into the goal excitedly waiting until they've reached their target.

Creating a Savings Goal
Creating a new savings goal is simple. Just log into your account, click on the "add goal" link and enter your goal name, how much you want to save and when you want to reach your goal. SmartyPig calculates your monthly recurring contribution that will be withdrawn from your existing checking or savings account. Switch to full screen mode and click the icon in the bottom right of the video below.

Creating a Savings Goal from SmartyPig on Vimeo

Editing Your Savings Goal
To edit your goal, log into your account, click on the "manage" link and then click on "edit goal" next to the goal you wish to change. Edit your goal information and click save. Voila! Switch to full screen mode and click the icon in the bottom right of the video below.

Editing Your Savings Goal from SmartyPig on Vimeo.

Adding Money To Your Savings Goal
SmartyPig makes it easy to setup automatic monthly recurring transfers from your existing checking or savings account into your goal on the day of the month you specify. If you wish to add additional funds into you goal, you can do this at anytime. Log into your account, click on the "manage" link and then click on "add money" next to the goal you wish to transfer funds to. Switch to full screen mode and click the icon in the bottom right of the video below.

Adding Money To Your Savings Goal from SmartyPig on Vimeo

Redeeming Your Savings Goal
Redeeming your funds is simple. To stop your goal, login to your account and click on the "manage" link and then click on the "stop goal" link next to the goal you wish to redeem. SmartyPig provides three unique options to redeem your funds. 1) You may redeem your funds plus interest onto a SmartyPig ®MasterCard Debit Card. 2) Receive an additional cash boost of up to 6% by transferring your funds to a retail gift card like Overstock.com or 3) Simply transfer the funds back to your existing checking or savings account. Switch to full screen mode and click the icon in the bottom right of the video below.

Redeeming Your Savings Goal from SmartyPig on Vimeo.

Making Your Goal "Public" & Adding A Widget
Make your goal "public" and let friends and family contribute to your goal. Simply mark your goal as "public" and SmartyPig can email your friends and family a link to your goal. Or post your SmartyPig goal widget on your blog, or social site like Facebook or MySpace. Or simply let your friends and family search for your goals by visiting the "Friends Goals" tab on SmartyPig and typing in your email address. Switch to full screen mode and click the icon in the bottom right of the video below.

Making Your Goal "Public" & Adding A Widget from SmartyPig on Vimeo.

Want to see something else? Just let us know!

Mike Ferrari, co-founder