SmartyPig

In today’s economy, emergency funds are a hot topic. How much do you really need? Three-months expenses? Six? The Simple Dollar blogger, Trent Hamm, writes about his quest for a twelve-month safety net. Hamm is wildly popular among people trying to find their way in the world of fixing finances, and he received lots of feedback, including many who think his fund may be “too much.” But his personal situation, which includes young children, made this larger-than-norm safety net appropriate – for him. Hamm suggests your safety net is an amount you should set for yourself. Whatever makes you feel, well, safe.

With just one young child and few large expenses how much do I need? Yahoo Finance helps to answer. This handy calculator takes more than just the baseline gross income and large expenses that many calculators suggest, and asks for the whole enchilada, including the not-so-obvious bills: household repairs, co-pays, hobbies and so on. The calculator gives you a time frame and deposit options, as well. And once you calculate your safety net needs, give those dollars a home at SmartyPig and be on your way to an emergency fund quickly and painlessly.

Wishing you no emergencies.

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

My bank announced Friday it’s no longer offering debit rewards programs for new customers. And while existing bankers, like myself, will go unaffected (for now!) it’s just a matter of time before my rewards are also revoked and I’m further dinged with fees and transaction obligations for little in return. It’s not just my bank either. It’s most of them. Yet another reason to start saving and spending with SmartyPig.

While other financial institutions are hiking fees and imposing spending limits (sans the free toaster), SmartyPig is creating new ways to offer you bigger rewards when you spend (expanding our list of participating retailers almost daily that pay up to 14% cash back on our gift cards and MasterCard debit card) while offering 1.35% interest on the money you save, um, no fees included. Never mind our award winning service, ease of use and high-end technology, you just deserve better on the basics.

After all, you work hard for the money. So don’t get dinged by your bank for no reason. Get rewarded like never before at SmartyPig.

Wishing you successful saving.

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

Educating your children on finances can seem like an overwhelming task. Where to start? What to teach? And when? Karyn McCormack at Yahoo Finance offers five golden rules about money to initiate proper management early on, while embracing sound saving strategies for bigger purchases later in life.

McCormack suggests beginning with “a penny saved is a penny earned,” to teach your children fiscal responsibility through an allowance or monetary award for completed chores. Next comes budgeting and staying out of debt, something many, if not most, adults find difficult. Explaining your home and credit card bills to your kids can help. Also, delving into both interest charged and interest earned. Your 3 year-old won’t understand, but your high school student will, particularly when credit card applications start arriving in their name. And lastly, teaching your children about philanthropy. Donating to charities, including volunteering, helps to instill value. Children can start by donating toys or clothes they no longer use at a very early age.

SmartyPig makes saving fun for adults, and kids, too. We offer viewing features on parental accounts for children and often hear testimonials from users whose kids love to “feed the pig” and watch their savings grow. Take McCormack’s tips to heart, and help your kids feed their piggy banks today!

Wishing you successful saving.

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

Want to be a millionaire? Sure, who doesn’t. But is it really plausible? CNNMoney.com reports this week that you can be if you follow a few rigorous financial steps. And while wealth has many components, SmartyPig can help you with two important parts of this formula: time and how much you save.

Whether you start saving at 21 or 51, the important part is starting and continuing to do so. CNNMoney states “while savings may be the safer bet, it’s often the tougher task.” SmartyPig makes CNN’s saving suggestions easier – like “systematically bumping your savings” and paying competitive interest on your money. Our automatic transfers require little effort and no feeling of loss, while still allowing you to move a little each week. And the best way to grow your savings is to increase your deposits. Those up for a challenge should try living on last year’s budget. And for those of us looking for even more ways to save, try stashing that five bucks you spend on your daily latte in a SmartyPig account or clip ten dollars worth of coupons to use at the grocery store.

While only seven percent of us will be “millionaires,” starting to save today and always saving what you can, will increase your overall wealth and bring you that much closer to your goals and financial security.

Wishing you successful saving.

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

There’s no better way to welcome this season then by rolling up your sleeves and engaging in some spring-cleaning. While your windows are a good place to start, don’t forget to freshen up your finances, as well. Erica Sandberg recommends ditching the dust with a few simple steps. Begin by organizing your financial paperwork and documents, and while you do, redefine your goals and get prepared. Think about where you want your money to “take you.” Whether it be Hawaii next winter or curled up on a new couch, setting goals will make you three times as likely to hit all of the financial milestones in your life.

Believe it’s too early to think about next fall or winter? In regards to saving, it’s never too soon. Take the pressure off of your holiday gift and back-to-school shopping by “scavenging” today. Just $100 each month beginning in April, and you’ll have $500 saved by August or $900 by December. And those bills I mentioned organizing? Why not reconsider your needs? I mean, will you use cable this summer? Can you save on gas by riding your bike to work? And as you cut corners, don’t forget to sock those extra dollars away into your SmartyPig goals. You’ll feel good about your fresh spring start and even better when it comes time to buy the things you want or need.

Wishing you successful saving

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