The SmartyPig Blog

Post-Recession Spend

 

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“People are placing more value on experiences, personal identity and what they have accomplished, and believe that tangible goods may not last forever,” Fiona O’Donnell, director, Mintel Reports, Multicultural, Lifestyles, Travel & Leisure, said in an MSN.com article this week. In 2015, the leisure and entertainment segments grew nearly 4% and 3%.  These and many other signs are showing that Americans are spending more money on experiences and less on material items.

Economists state this could be based on the change in post-recession spending. Americans are concerned they won’t always have “things” and instead purchase vacations and experiences to create lasting memories. Sadly, some Americans are still struggling with financial balance and a shocking 62% have less than $1,000 in emergency funds. I won’t argue that investing in experiences is a bad thing, but saving for those types of purchases with SmartyPig is key. You’ll come out with debt free memories!

Wishing you successful saving.

Sarah Foss, SmartyPig’s Media Mad Woman, SFoss@SmartyPig.com

Save Some Summer Cash

Summer

It’s June and that means, summer is here. Vacations top the list of most people’s favorite things to do over the warmer months. Yahoo Finance once again brings us a stellar list of ways to cut corners and save some dough this summer.

It’s not ideal for most planners, but waiting until the last minute to book travel can be a way to save money by shopping “fire sales” and other last minute travel-booking sites. Additionally, there are various sites to save money not travel methods and where you stay, too, like VRBO.com and imoova.com. These tips will save you some cash when it’s time to buy, but what about saving for that trip? Well, SmartyPig is the place. It’s easy and will keep you warm in December when you are craving that summer road trip.

Wishing you successful saving.

Sarah Foss, SmartyPig’s Media Mad Woman, SFoss@SmartyPig.com

Visualizing Your Goal with SmartyPig

“When it comes to mastering your finances, it’s not just about how much you earn, but also about how much you save.” Truer words have never been spoken. Well, in the personal finance space anyway. The bright folks at Credit Karma put together a list of ways to help you “effortlessly” save, so we had to read them, and boy we were excited to be included in that list. Because, saving can be tough so if you could make it easier, why wouldn’t you?

Credit Karma suggests three savings app to take most of the work out of reaching your goals and saving for the things you need or want. “SmartyPig can be a great tool if you want to save for something specific and visualize your goal.” SmartyPig allows you to set up auto contributions and receive gifts from your friends and family, too.  It’s a win-win for everyone wanting to save!

Thanks for the mention, Credit Karma.

Sarah Foss, SmartyPig’s Media Mad Woman, SFoss@SmartyPig.com

How Are You Using Your SmartyPig?

We asked users to tell us what they’re saving for right now, and here’s what we heard. We hope this inspires YOU to start a new goal!

A new T.V. for my “man cave”

New window for my 1924 home. My energy bills are out of control!

A vacation!

I’m not saving for anything particular. But saving just the same.

Our new baby. Probably daycare and diapers.

Dollars and Cents

May is an expensive month for my family: Mother’s Day, end of the school year, Memorial Day, and BOTH of my children’s birthdays. Statistics show that 41% of adults spend $200 or more on their children’s birthday presents, and that same amount on said child’s birthday party. And here’s the kicker, while parents are spending more on their kids, they are talking about finances less. So let’s discuss, with the help of MSN Money, what you should be teaching your children about money.

Let them know they won’t get everything they want. This seems to be a challenge with the aforementioned birthday spending, so how about having them earn an allowance and teaching them how to spend it wisely? Additionally, instead of spending that money, teach them how to save FOR something. Like that expensive Nerf gun – gift them $20 for their birthday and give them a list of ways to earn the remaining $10. Lastly, teach them to be generous and teach them that saving is self-generosity, and how quickly saved money can grow.

Wishing you luck as you teach!

Sarah Foss, SmartyPig’s Media Mad Woman, SFoss@SmartyPig.com

 

http://www.msn.com/en-us/money/personalfinance/10-things-to-teach-your-kids-about-managing-money/ss-BBs7d6Z

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