No matter if the relationship is in good standing or even if you pay your entire bill off every month, it's a cash grab for Wall Street at the expense of Main Street, as congress moves to speed legislation to protect those who need it most. And with the holidays coming, and recent statistics from Consumer Reports indicating that 13.5 million Americans are still carrying debt incurred from last year's holiday season, our leaders in Washington cannot move fast enough.

Watch video

Financial expert and "Today Show" contributor Jean Chatzky has recommended socking away $100 each week starting now until December to ease the eventual pain caused by seasonal spending. Chatzky smartly points out that, by setting a goal like this and sticking to it, by the time the holidays roll around, credit cards might not be the necessary evil they have been in the past.

We could not agree more, and, in fact, this sentiment is exactly what we here at SmartyPig stand for. With expenses like gifts and travel piling up, there has never been a better time to take back control. Credit cards are doing more harm than good, even to the most loyal and responsible customers. Thus, there's no time like the present to stand up for yourself, get back to the basics and finally own the holidays. A little bit at a time can definitely make a whole lot of difference.

In the 18 months since we launched SmartyPig, we've made a dozen or so unique upgrades to our service. Why? Because you told us to. Sure it's cliché to insist a product is what its customers want it to be - unless you mean it. And we do. We heard almost immediately after we launched that we needed an ACH option at redemption, so we added it. Then we heard it needed to be faster. So we made it faster. Connect with sites like Mint. Launch a mobile site. Add additional sharing features like Twitter and Facebook connect. Enhance our widgets. Done. Done. Done. Done. Done. Done.

We're not just tooting our own horn, but typically a financial services company would take 18 months to launch a single product - after a lot of focus groups and maybe a few pilot runs in test markets. It may work. It may not. The need for it may have changed or gone away completely. In the social world of Web 2.0, though, where you are right now, things move pretty fast. People want back and forth. People want more. People want a new kind of relationship where their ideas matter.

So within the next month or so we're going to unveil a few pretty dramatic upgrades and enhancements in our service. More will come in December, and then even more in January. We've been hearing what's important to you. And we're all set to take SmartyPig to the next level - faster, easier, better. As the leader in the Bank 2.0 space, we vow to continue to provide groundbreaking features, terrific technology, the best possible deals and top-notch customer service. What all of that looks like, however, is pretty much up to you. Just let me know.

Thanks,

Mike Ferrari, co-founder
@mferrari

The results are in! First, let me say thank you to those that shared their dreams with us. We hope you enjoyed creating and submitting your video. We sure enjoyed watching them!

Winners were determined based on the following:

• 33.3% - total number of views
• 33.3% - star ratings
• 33.3% - SmartyPig judging panel

And to those that did not win, we'd like to offer you a $100 SmartyPig gift card for your tremendous effort. After watching your work and hearing your stories, we all agreed we couldn't let you go home empty handed.

And now, the moment you've all been waiting for...

Drum roll please...

$2,500 Grand Prize winner!

marcu5aurelius
http://www.youtube.com/user/marcu5aurelius
"I recently moved to Napa, California to take a job at a vineyard. It is my dream to start my very own vineyard. This is a pricey dream to pursue, and I am hoping that this contest will help get me started. I'm not a cinematographer and may not have the fancy equipment other people entering this contest have, but I'm the only person willing to risk pneumonia to make my dreams a reailty."

5 - $500 Runners-Up

Fizzlebearsbabygirl
http://www.youtube.com/user/Fizzlebearsbabygirl

brookenp
http://www.youtube.com/user/brookenp

boblotich
http://www.youtube.com/user/boblotich

PSJCS
http://www.youtube.com/user/PSJCS

thelehmonator
http://www.youtube.com/user/thelehmonator

To all winners and non-winners, please email us at support@smartypig.com with the link to your video and your shipping address and we will get your gift cards in the mail.

Thanks again. We had a blast!

The SmartyPig Team

Facebook and Twitter Integration

New features introduced today expand on SmartyPig's existing social media functionality and are a first in the banking industry! SmartyPig users now have the option to securely connect their existing Twitter and/or Facebook account to any goals that they have chosen to share with friends and family. When Twitter is connected to a shared SmartyPig goal, SmartyPig will automatically post to that Twitter account any time funds are added towards meeting a goal. The Facebook connect feature works similarly, posting to the Facebook user's wall every time funds are added towards meeting a goal that they have chosen to share. The best part about this connectivity is that the posts and tweets happen automatically. So even if you are not logged in to your SmartyPig, Twitter or Facebook account, SmartyPig will continue to post tweets and wall posts on your behalf when funds have been added to your goal. Again, this type of connectivity is a first in the banking space so we are really excited to get your feedback. Check out the screen shots below from my own personal account! Connecting to your Facebook or Twitter account is simple. Here's the Facebook and Twitter connect pages.

Once connected, the page expands and you can now select the goals you would like SmartyPig to post/tweet on your behalf. In addition, you can include a link to your SmartyPig sharing page, so friends and family can easily contribute to your goal!

And here is an example of what a tweet and wall post looks like to your friends and followers, anytime funds are added to your goal (via recurring monthly contribution, one-time adds of money and gifts from family and friends).

Enhanced Widget

Second, we heard loud and clear that you wanted more customizable options for the widget so we completely enhanced the widget creation process. As of today, we launched an entirely new customizable widget that allows you to include multiple goals, customize messaging and graphics, link to your SmartyPig sharing page and integrate with over 28 social destinations like Facebook, MySpace, blogger and more. Here is the widget creation page:

And here is a sample widget:

Setting and achieving a goal is a very empowering experience and many of you enjoy involving your friends and family in the process. Please test run the new Facebook and Twitter connect features and enhanced widget and let us know what you think.

Thanks!

Mike Ferrari, co-founder
@mferrari

It would be an understatement to say that I'm excited to join the SmartyPig team. Given my background, which includes creating and managing the growth of four start-up/emerging companies, I can truly say that SmartyPig is an extension of one of my life's passions - to take great ideas and create companies around them. In the case of SmartyPig, the idea is truly intuitive - the concept of buying items with money you have vs. money you have borrowed is not a new idea! But I'm impressed with how that idea has really resonated with consumers, and the company - through web technology, creative rewards, and the use of social media - has created something special. My job now is to create even MORE value for our customers.

Oh yeah, and to have fun along the way. I can tell you that the team we have at SmartyPig is truly incredible - so great to work with -- and I feel extremely honored.

One of the main reasons that I love early stage companies (besides working with incredibly creative and intelligent people), is that we have no excuse for being anything but agile and adaptable. We should be able to bring new ideas to market faster than others, and should be able to address issues that aren't working for you in a timely fashion. I know it's often overstated but I do believe we need to earn your business every day and intend to act accordingly. While Google has made it's name with the mantra "Don't be evil," I'd like to extend the principle to state that you can expect that "SmartyPig does good." If it's not good for you it's not good for us. To this end, I would really like to hear from you. Because I'm almost continuously on the road email is the best way to communicate with me - bob@smartypig.com.

I also want to let you know that I see every customer support email that comes through SmartyPig. It's the least that I can do to understand areas that we can improve. As I've read through the support logs, our blog and GetSatisfaction, I've also been extremely impressed with the number of you who have shared ideas on how to make SmartyPig a better company. I love it - please keep it up.

While 3 1/2 weeks hasn't yet allowed me to get my arms around all areas of our business, there are some clear messages I've received from customers. At the risk of simplifying some great feedback - I've heard the following. I've heard that you we're disappointed that we dropped the interest rate twice in a relatively short period. Further, I heard that you would really appreciate a rate increase. I've also heard that you want an enhanced redemption program when you close out a goal with greater flexibility, more retail partners and larger cash-back boosts.

I can assure that your messages have been received, and I'll do everything I can to address these very valid issues.

Please don't stop pushing us and please feel free to contact me.

Bob Weinschenk
bob@smartypig.com

We've heard so many great stories from you - our customers - and now we want you to share your dreams with us on YouTube for a chance to win $2,500. Here's Erica with more info:

So what are you saving for? A dream vacation? College fund? Home improvements? We want to hear all about it! Be sure to tell us how saving with SmartyPig has helped you dream big, and turn those dreams into a reality. Here are some tips and ideas to get you started with your video:

• What current dreams are you saving for?
• How is saving with SmartyPig different?
• How has saving with SmartyPig taught you to save better?
• How have SmartyPig's social savings tools helped you spread the word about your saving goals?
• How has saving with SmartyPig changed your life?

We're giving one lucky, creative filmmaker $2,500 towards his or her SmartyPig goal, and five runners-up will receive $500 each towards their goals. All you need is a video recording device (Flip Cam, iPhone, webcam, etc.), a YouTube account, a great story and the ability to bring in the votes. The winner of the contest will be selected based on the number of views and five star ratings they get on their video submission as well as creativity and originality.

So get inspired, get creative, and start capturing your SmartyPig dreams on video. The SmartyPig "Dream Big Video Contest" will launch on YouTube on September 24, 2009. You have until October 5, 2009 to submit your video entry. Winners will be announced on October 13, 2009. Full contest details and rules can be found here.

Dream big, and start creating!

The SmartyPig Team

The 2009 Gartner & 1to1 Customer Awards honor 18 companies making a big impact through their customer relationship strategy and achieving an unrivaled level of excellence in delivering the customer experience. The 2009 Gartner & 1to1 Customer Awards honor exceptional results in six categories: Customer Strategy, Organizational Transformation, Customer Service Optimization, Enterprise CRM Optimization, Marketing Optimization, and New Media. Gartner & 1to1 Customer Awards honored SmartyPig this week in Scottsdale, Arizona, in the following category:

• New Media Optimization: excellence in the use of Web 2.0 and new media applications.

For a complete list of winners, visit the 2009 Gartner & 1to1 Customer Awards:
http://www.1to1media.com/View.aspx?DocID=31829

This award is the direct result of the relationship between you, our Super Smart Saving customers, and us here at SmartyPig as we try to redefine how people interact with their financial services companies. And by that we mean: You talk, we listen, we act and the dialogue is ongoing. We value your involvement. You have helped shape our company and our service in countless ways. We hope for nothing more than to be the go-to place for simple, smart saving, and to have the process be as transparent as possible. More importantly, we hope to hear from you often. Thank you!

And thank you to Garter and 1to1 for this wonderful honor and recognition!

- Michael Ferrari, co-founder
@mferrari

I'm not going to get holier-than-thou. We've all bought things that we didn't plan for - big-ticket items that we just had to have. (Right there! Right now! Gotta have it!)

And while the sticker shock is always tough to digest, the remorse of monthly credit card payments can be even harder. Long after the shine has faded on a new purchase, it's easy to find yourself still making minimum monthly payments plus 15% interest. "Was it really worth it?" we wonder. It's enough to take the joy out of splurging.

But it doesn't have to be so painful - or 15% more costly. Buyer's remorse can be a thing of the past. With a little forethought and setting money aside these kinds of big expenditures can be easy, fun, and even empowering. You're buying something outright, with cash that you set aside for just that purpose... How's that for being responsible and autonomous?

At SmartyPig we want you to break the vicious cycle of credit card debt. We want you to enjoy the empowerment that comes from managing your money, and making big purchases without fear of crushing credit card consequences. And we want you to benefit from that process. While you save for your item at SmartyPig, you're earning an APY of 2.01%, one of the best rates around. Once you've met your goal and are ready for that new item, you're able to redeem your goal to one of our retail partners including Amazon.com, Best Buy and Overstock.com offering boosts of up to 6% - giving you the most money for your money.

So when a purchase seems overwhelming, sit down and think about how much it costs and how long you want to be paying for it. Then, go ahead and buck the trend. Set your plastic aside. Figure out how much you want to save, when you want to save it by and how much you're able to save each month. Before you know it, you can be watching the big game on your new flat screen or soaking up the rays next to azure waters. Your indulgences can be guilt free and SmartyPig can make that happen.

Great news! SmartyPig ACH transfer times reduced!

ACH transfer times have been a hot topic both on this blog and on Get Satisfaction. When customers transfer money from their existing checking or savings account to SmartyPig, they want that money to clear into their SmartyPig account and begin earning interest as quickly as possible. We get it.

Our existing three day ACH transfer time is well within the industry standard of two to four days. In fact, according to the Wall Street Journal, "Bank of America Corp. says such transfers typically take two to three days. EmigrantDirect says on its Web site that transfers take two to four days, while HSBC Direct says customers should expect transfers to take up to three days." But being in the middle of the pack didn't sit right with us. We knew that driving that transfer time down was important for our customers. And, we've said all along that this would be something that SmartyPig would look to improve upon as the company grew.

Now, I'm happy to tell you all that our ACH transfer times have been reduced from three business days to two business days, putting us on par with the likes of ING Direct.

How did we do it?
We spent the last three months building our own proprietary transaction engine. We took out the middleman and saved you a day in the process. We said we would do it, and we did.

Why did we do it?
Because we knew it was important.

So, cheers everyone! Here's to getting that extra day back! (Don't you wish we could do the same for DMV and doctor's office visits?!)

Mike Ferrari, co-founder
@mferrari
@smartypig

Thanks to everyone for playing this week. It's been a lot of fun. After 15 minutes of play and over 100 answers, we've got our winners!

The question was:
The Iowa State Fair was cancelled in 1898 due to the World's Fair which occurred in what state?

And the answer:
Nebraska

And the winners are...

• @danielshipton
• @richdrake
• @dwcouch
  

Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.

Thanks again and have a great weekend!

It's day five and our LAST DAY of the weeklong twitter contest in honor of the world famous Iowa State Fair!

SmartyPig is giving away 3 - $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig's corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.

The format:

1. After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
2. We'll post the winners here on our blog.

Make sure:

• You're following us on Twitter.
• We'll ask the $100 question everyday this week at 3 pm CST.
• Answer the question correctly for your chance to win part of $1,500 in prizes!

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!

After 15 minutes of play and over 120 correct answers, we've got our winners!

The question was:
What was the hottest temperature recorded at the Iowa State Fair?

And the answer:
108 degrees

And the winners are...

• @44ounce
• @cc500x
• @mel4him
  

Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.

For those that did not win, don't forget to play along EACH DAY this week at 3PM CST for your chance at a $100 SmartyPig gift card!

It's day four of the weeklong twitter contest in honor of the world famous Iowa State Fair!

SmartyPig is giving away 3 - $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig's corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.

The format:

1. After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
2. We'll post the winners here on our blog.

Make sure:

• You're following us on Twitter.
• We'll ask the $100 question everyday this week at 3 pm CST.
• Answer the question correctly for your chance to win part of $1,500 in prizes!

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!

Neale S. Godfrey, author of the book Money Doesn't Grow On Trees, writes: "Kids don't get it if you don't talk about." Mr. Godfrey is talking to people like me, and if I don't start listening, I'm going to have a big problem on my hands. My four year old daughter is a born shopper. And, as the Co-Founder of a company fighting everyday to bring sensible saving back into the public consciousness after decades of absence, I often worry that I enable her in the very habits I'm encouraging SmartyPig customers to break.

Like most couples these days, my wife, Sara, and I have been engaging in serious discussions regarding money. How we spend money. How we save money. How we use credit. We are pretty normal in that these conversations, while productive, aren't all that much fun. That said, we force ourselves to sit down and talk about money and we are pretty diligent about maintaining healthy attitudes about spending and saving. But when it comes to how we use money with regard to our daughter, all common sense flies out the window.

Our daughter has a piggy bank. And while it's our pocket change that goes into it, she understands the value of what we put in it and that she is rewarded when it fills up. We also require that she perform simple tasks around the house for which, when a series of days are filled in as "complete," she gets a reward. If she plays her cards right, does as she's told, and is patient, she usually ends up with a "treat" every few weeks or so. Problem is she never stops wanting or asking for the most trivial things, and we end up like this episode of Dr. Phil - indulging her whims, rather than being responsible parents who model fiscal fitness.

I tell my wife, "It has to stop." Then I tell her again the next time and the next. But I'm just as guilty as she is. From my perspective, these little treats are almost immediately disregarded and considered "junk." If I sound frustrated, it's because I am. Our unplanned spending on small gifts for our daughter has gotten totally out of control. But it's easier to just go with it than to say no. Who doesn't want a smile and the baby blues? But what are we doing to her as a result? What kind of habits are we teaching her? Every other aspect of her life is meticulously dissected. We are completely focused on turning this healthy, intelligent, productive kid into a healthy, intelligent, productive adult. Why can't we be the same when it comes to teaching her about money?

A recent issue of Better Homes & Gardens offered us three easy tips to begin the process of taking control:

1. Don't Forget Who's In Charge - Marketing machine or not - and good God if there isn't a Disney princess on everything! - You can say "no."
2. Talk About Spending Decisions - Don't lie and say, "I can't afford it." Explain priorities - even to four-year-olds.
3. Hand Some Over - Give your kids the power. Let them make the transaction. Let them see the difference between need and want.

So, can Sara and I do this? Do we need a chart that we make an "X" on every day we don't wimp out and take the easy road? From time to time, I'm going to let you know how it's going. And, of course, time will tell. We at SmartyPig are spending a lot of time these days discussing money and children and families. And while I pride myself on being a good listener, this is one conversation I'd really like to begin truly contributing to.

And I'd like you all to contribute as well. I'd love any tips you might have or anecdotes about your successes or failures in teaching your kids smart savings habits, just send them here jgaskell(at)smartypig(dot)com. We may even feature your ideas or stories on our blog. Thanks!

After 15 minutes of play and close to 150 correct answers, we've got our winners!

The question was:
What year was the Iowa State Fairgrounds named to the National Register of Historic Places?

And the answer:
1987 or 1986

Some folks pointed out that the Iowa State Fair site had conflicting information. And you all were right. So regardless, we decided the only fair thing to do was to accept both answers.

And the winners are...

• @gabrielglynn
  
• @jeremyfrank
• @xinesoundclash
  

Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.

For those that did not win, don't forget to play along EACH DAY this week at 3PM CST for your chance at a $100 SmartyPig gift card!

It's day three of the weeklong twitter contest in honor of the world famous Iowa State Fair!

SmartyPig is giving away 3 - $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig's corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.

The format:

1. After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
2. We'll post the winners here on our blog.

Make sure:

• You're following us on Twitter.
• We'll ask the $100 question everyday this week at 3 pm CST.
• Answer the question correctly for your chance to win part of $1,500 in prizes!

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!

After 15 minutes of play and over 100 correct answers, we've got our winners!

The question was:
What singing duo holds the record for attracting the largest Grandstand attendance at the Iowa State Fair?

And the answer:
Sonny and Cher

And the winners are...

• @bobsanti
• @aeschneider
• @ericbdavies
  

Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.

For those that did not win, don't forget to play along EACH DAY this week at 3PM CST for your chance at a $100 SmartyPig gift card!

It's day two of the weeklong twitter contest in honor of the world famous Iowa State Fair!

SmartyPig is giving away 3 - $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig's corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.

The format:

1. After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
2. We'll post the winners here on our blog.

Make sure:

• You're following us on Twitter.
• We'll ask the $100 question everyday this week at 3 pm CST.
• Answer the question correctly for your chance to win part of $1,500 in prizes!

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!

It's August. Does it feel like you are celebrating more birthdays this month than you normally do? That's because, according to U.S. Census reports, August is the month most babies are born. And of course, for that reason, it's not surprising then that August is also a month in which first-time parents find themselves reassessing their personal finances.

Like a modern, high-tech piggy bank, SmartyPig allows parents to choose a goal, determine a savings schedule, and track their progress. Equipped with social networking features, SmartyPig even allows new parents to invite friends and family members to be a part of the process, by checking progress and even contributing towards those goals. According to one smart saver, who shared her SmartyPig experience on her blog "Saving and the Single Mom", sharing your goals is a huge perk. She writes, "Best of all you can have friends and family contribute to your goal! I think it's a great way for people to give to you and or your children. It is a gift that goes toward a goal, instead of one more toy that will eventually get thrown to the wayside..." When a goal is reached, parents can transfer the savings plus interest into their existing checking or savings account, receive it on the flexible SmartyPig MasterCard® debit card (which can be used anywhere MasterCard® is accepted) or opt to put it on a relevant retail gift card to receive perks like cash incentives or discount purchases.

Here's how it works:

Your little bundle of joy has just arrived. Bundled into that bundle are some pricey expenditures, and so you've decided to start saving. You open a Smarty Pig account with an initial deposit of $300 and you commit to saving $300 per month. You make that goal public because you know that the grandparents, aunts and uncles feel better contributing to long-term savings for baby rather than adding to the pile of stuffed animals growing in the toy box. Our competitive 2.01% APY will earn you about $40 in interest over the course of the year (More if family and friends put cash in). So when your goal is closed, you'll have a total of nearly $3,940. It's pretty straightforward.

But there's one more HUGE perk! Because you were smart and decided to save for your baby expenses using SmartyPig, you can choose to receive a cash boost from one of our retail partners. Your goal is pretty general - you want to cover all the basic stuff you have to buy for baby. This can mean anything from a car seat or stroller even a swing set or bouncy seat. According to BabyCenter.com one of the biggest expenses for babies is "gear," and so you've decided that you're going to take a boost from Overstock.com - an online retailer that sells brand name items at discount prices. Their cash boost gives you another $236. And your total is now $4,175 and it's going to go really far at Overstock.com!

See, our goal is to be the go-to company for folks who want to save for their goals, be it a baby, a down payment for their new house or furniture to fill it. We want to help them start families on the right financial path. SmartyPig can be an important tool in gaining financial freedom and breaking the vicious cycle of credit card debt. Instead of the 'buy first and pay later' mentality, SmartyPig helps people buy with cash and avoid being buried in future debt. We're giving birth to smarter savers!

After 15 minutes of play and over 100 correct answers, we've got our winners!

The question was:
What was the exact weight of Freight Train, winner of the "big boar contest" last year at the Iowa State Fair?

And the answer:
1259 lbs (or pounds, actually we accepted anything that said "1259")

And the winners are...

• @abs896
  
• @Ein2015
• @chriswoods85
  

Congrats to the winners! Winners please send an email to support@smartypig.com with your shipping address to where we can ship the gift card.

For those that did not win, don't forget to play along EACH DAY this week at 3PM CST for your chance at a $100 SmartyPig gift card!

Cattle call to all SmartyPig customers! SmartyPig will be giving away 3 - $100 gift cards every day this week in honor of the world famous Iowa State Fair (Home of the Butter Cow, birthplace of the corn dog - and only a cow chip toss away from SmartyPig's corporate offices!). We will tweet a question and give our followers 15 minutes to reply to us.

The format:

1. After 15 minutes, we will be picking 3 random winners with a number generator from the pool of correct answers.
2. We'll post the winners here on our blog.

Make sure:

• You're following us on Twitter.
• We'll ask the $100 question everyday this week at 3 pm CST.
• Answer the question correctly for your chance to win part of $1,500 in prizes!

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!

Beginning Monday, Aug. 17, we will be reducing our APY to 2.01%. Historically, we've initiated less-frequent drops so as to enable our customers to earn as much interest for the longest possible amount of time rather than knock 10 or 20 basis points off here and there. By visiting here, you'll find that we're still offering one of the top rates in the country. Add the social aspect of our system that allows friends and family help you to reach your goal, and our cash boosts of up to 6% from some of your favorite retailers and travel companies, and it is easy to see why people saving for specific goals are still, far and away, earning the most money for their money with SmartyPig.

There are still no fees. No time limitations. This is not a special for new money. And SmartyPig is not restricted to residents of only certain states. Our APY is still higher than the big boys - in most cases, much higher. And we aim to always be extremely competitive when it comes to the rate we offer.

We are doing everything in our power to make your SmartyPig experience one that is not only positive and worth sharing, but completely transparent. This is why instead of burying this change somewhere in your account summary we wanted to reach out beforehand, and why we invite you to voice your comments and/or concerns on any of our channels of communication: Twitter, Facebook, Get Satisfaction, our Blog, etc.

At the end of the day, we want for nothing more than our customers to get the best deals possible. We want to help reverse the credit-card mindset of "buy now, pay later." And we want to remain the best way to save for your wedding, family vacation, new TV, emergency fund or the future of your children. We think we are. But we cordially invite you to tell us 24 hours a day, 7 days a week your ideas on how to make SmartyPig even better.

Your using SmartyPig is greatly appreciated. And as always, good luck with your saving goals!

Sincerely,

Michael Ferrari, co-founder
mferrari(at)smartypig(dot)com
@mferrari

As the economy continues to hopefully stabilize, it's critical that we do not fall back on old habits - spend more than we earn, abuse plastic, etc. Researching and reading up on websites and tools for your best options are a ticket to financial success. Following personal finance bloggers helps to establish a strong understanding of your own personal finance interests and needs. Blogs like The Simple Dollar and Wise Bread share insight and tips for creating fiscal fitness. They also let you know that primarily many of us are in the same boat. The times have been scary, yes. And the damage has been fierce. But we at SmartyPig share in the belief that with a renewed interest in saving, and an overall attitude adjustment toward money, there is light at the end of the tunnel.

These experts implore their readers to create a plan and stick to it. SmartyPig was built on this exact way of thinking. We offer a competitive APY, the option to make your goal public so friends and family can help and cash boosts from top retailers to help you get the most money for your money. And from beginning to end the process could not be simpler for people who want to crate a plan and stick to it.

We have even added the latest and greatest in Web 2.0 technology and created partnerships with terrifically innovative companies to help you even more. By using SmartyPig's Visualizer, you can see how much you've saved and your total progress. To contemplate the bigger picture of your finances and how SmartyPig positively affects them, we offer integration with sites like Mint, Thrive and Wesabe.

Your personal finances are a journey. And there is a lot of help available out there to make it a more pleasant one. SmartyPig is just a small part of it. But we feel strongly that if you implement the idea of saving up first, of owning what you have, that getting from here to there will be a lot easier and more rewarding. Good luck with your goals!

Silicon Valley Blogger at Wise Bread recently wrote, "We all have our own ways of handling our finances - and that's why it's called 'personal' finance. What works for one person may not necessarily work for someone else…" She poses questions about budgeting, about paying yourself first or last, and the debate about paying down debt versus funding an emergency account. Then she gave us this to chew on: "Is there a right way to save?'

If you're looking to save for something specific, if you have a goal, we think SmartyPig is for you. We don't want you to stop paying down debt, stop funding your emergency account, or even leave your current bank. But if you want to take a vacation or need a down payment for a new car or have to replace your refrigerator, SmartyPig gives you the most money for your money.

SmartyPig offers one of the most competitive APY's on the market (2.75%); you can get a boost from top retailers when you've reach your goal; your friends and family can help get you there faster; and, to make it as simple as possible, you can set it and forget it. After a while, you won't even miss the money being automatically deposited into your SmartyPig account. And, most importantly, when you reach your goal, you will own whatever it is you purchase - not your high-interest credit card company.

In the end, deciding to save, creating a goal and sticking to it is one of the best moves you can make for your wallet. It is the "right way" to save. The long-term benefits of saving are obvious, but the habits it will help form are potentially even more valuable. "Do whatever works for you, whatever's comfortable for you," Silicon Valley Blogger writes. What's most important is that no matter which way you choose to start saving, getting started is a huge step forward toward getting you on the road to fiscal fitness. We could not agree more. Click here to get started today!

Over 150 people responded with the correct answer. We used a great summer method to get the final 3 $100 winners:

Congratulations huied, krotondo and crowbert! Please DM us your address via Twitter, so we may send your $100 SmartyPig gift cards!

Thanks for everyone who played and good luck next month. Here are those that made it into the top 20: joeslacker, chasehunter, kidzmatter2me, BeverlyDennis, kristenbyers, gaiku, calvinlarsen, discDAY, KCutright, AaronRoth, Josh9002, nelswadycki, oski97, jeremyfrank, tardyon, aliat, danielshipton.