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November 13, 2009 • Posted by Michael Ferrari

Addicted To Saving

We hear from our smart saving customers all the time. Undoubtedly, many of the calls are questions, complaints or concerns. That's the nature of the beast. Satisfaction is not shared as much as dissatisfaction in consumer America because the former is expected. We don't think that should ever change. We need the complaints and concerns and the questions, for sure. And we won't ever cover our warts. It's the only way we'll reach our goal of being the best at what we do.

Still, parents do thank us often for giving them a tool to "finally" teach their kids about money, and looking "cool" doing it. And Twitter, Facebook and the blogosphere are alive with people excited about having goals, striving for goals and reaching goals. Reading it, hearing about it, and communicating with these folks are the best part of what we do. People tell us we've helped them back on the right path, helped them get out of the habit of using plastic they can no longer afford, and helped them basically dig out from under. It's usually a quick pat on the back. It's what we absolutely live for.

However, when SmartyPig customer Keith Grimes emailed me the other day, I immediately forwarded it to our entire staff with a note that read: "This is what it's all about." Then we reached out to Keith and asked if we could put it on our blog in its entirety. He agreed. Here goes:

"I had an interesting reaction to my SmartyPig update this morning. For nearly two years now I've had a series of ongoing goals that I've eagerly contributed to and watched grow to fruition. Today, when I received my notification about this month's deposit, I realized that it was time to close out this goal.



The reaction I had to that, however, was one of, 'Well, what am I going to save for now?' Since I was closing out my only goal, I suddenly realized that I've grown quite fond (addicted?) of saving money and watching it grow in anticipation of the purchase - rather than buying something I couldn't afford only to have its perceived 'fun-factor' diminish steadily and rapidly with every payment and accrual of interest.

In other words, you guys have got me hooked on saving. Wow - great job and great thanks. You have no idea what a big change your site has brought to me and my family."

Best Regards as always,

Keith

With all the bad news running rampant about the economy, and especially banks, having a customer like Keith confessing to being hooked on making a positive change with regard to how he treats money because of what we do is indeed "what it's all about." But we will only ever be successful as a company, and as a country, if people like Keith become the rule again, not the exception. Reversing the "buy now, pay later" mindset, and making smart saving and smart saving less foreign, are the primary sentiments on which we built SmartyPig. Watching the process used to the point that it is life changing provides near indescribable satisfaction. Thanks, Keith. And thanks, too, to everyone who reaches out. We want to hear from all of you.

Mike Ferrari, Co-Founder
@mferrari
mferrari@smartypig.com

 

Tags: smartypig   •  saving

4 Comments | |

August 11, 2009 • Posted by Jon Gaskell

The Road Ahead

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!

 

Tags: smartypig   •  saving   •  money   •  the simple dollar   •  wise bread   •  mint   •  thrive   •  wesabe

2 Comments | |

May 15, 2009 • Posted by Michael Ferrari

Feel Young Again with SmartyPig

The following is a guest blog post by SmartyPig customer, Bill Zahren. Bill is a killer freelance copywriter, blogger, husband and father.

I never thought I'd relive the feeling I had as a kid going to see Mr. Jensen at Jensen Hardware in my tiny hometown in the mid-70s.

But, a couple of months ago, I found myself flashing back 35 years to when I would pull the white, plastic stopper out of my piggy bank (actually in the shape of a sitting cocker spaniel), spill the money onto the kitchen table and eagerly start counting.

If I had enough for the prized baseball bat or game at the hardware store, I'd shovel it all into my pants pockets and ride my bike like the wind uptown. Mr. Jensen was always ready to accept my $6.91 all in coins. In fact he seemed to get a kick out of helping me count it out.

Fast forward to 2009 and I'm walking into Sears in Des Moines, Iowa, cash in hand (figuratively, at least). And even though I was buying a stove and microwave — hardly as thrilling today as a baseball bat was 35 years ago — I was still pretty excited.

Because buying something without going into debt is just more exciting and pleasurable than loading it onto an already burdened credit card and figuring it out later.

The key was being smart enough to know my stove would not last forever. So I started a $67-a-month stove and microwave replacement fund. After a year of saving, I had $917 in the account. Unlike a physical piggy bank, SmartyPig pays interest. So my goal of $850 ended up above $900. That all combined to make a Sears store in Des Moines, Iowa, in 2009 feel a lot like Jensen's Hardware in Lake Park, Iowa, circa 1974.

With one goal reached, I was eager to continue the $67-a-month withdrawal I'd become used to. So the refrigerator fund immediately took the place of the stove/microwave fund. I've since added the 25th-wedding-anniversary-trip fund.

As exciting as purchasing a major appliance with cash was, I bet going on a trip that's already paid for will be twice as great. I can see the 1974 version of Mr. Jensen smiling right now.

Bill Zahren, @pressdog

 

Tags: smartypig   •  guest blogger   •  saving   •  bill zahren

0 Comments | |

May 5, 2008 • Posted by Jon Gaskell

What's In Your Wallet May Be Wiping You Out

We talk a lot about what people are saving for using SmartyPig. Almost all of the time these stories involve a very optimistic individual or family looking forward to a wedding or a vacation or a baby on the way. But there are other stories. They are no less optimistic, mind you. But they are tempered with some despair. They are about people who have been, or currently are, being held hostage by their credit cards, and are using SmartyPig as a way to get out from under.

To be honest, we have only heard from a few people who are using SmartyPig to actually help pay off high credit card bills. Mainly, we have heard from, and read about, people who are using SmartyPig to help reverse the mindset of "buy now, pay later." Many are using SmartyPig as a way to save up for the next holiday season, while (OUCH!) still paying off last year's shopping binge. In fact, December 2008 is our most popular month for scheduled redemptions in the next year - by 3 to 1.

Continue Reading...

Tags: debt reduction   •  credit card debt   •  savings account   •  saving   •  budgeting   •  budget   •  credit card rates

0 Comments | |

April 7, 2008 • Posted by Jon Gaskell

Here's SmartyPig!

We are extremely excited to introduce what we feel to be the most innovative, educational and rewarding way to save - ever. We call it "Simple, Smart, Savings." We're pretty sure you'll feel the same way. See, SmartyPig is not only a snap to use and is as secure as any other bank, SmartyPig will help you get more for your savings dollar than you ever thought possible.

In these scary economic times when credit card debt is skyrocketing, we feel the best way to help reverse the trend is to go back to the way things used to be. In our demo we ask the question, "Remember when you were a kid, and in order to buy something you had to save up?" In a nutshell, that is the idea behind SmartyPig. We want to help you get back on track. Phase out those credit cards. Set goals. Sensibly save up for them. Go back to the way it used to be... And be rewarded like never before for doing so.

We aren't suggesting you leave your current bank or to stop saving for the things you are already saving for like retirement or your kids' education or even your emergency fund. We just want to offer you a way to stop and smell the roses. You can start saving today for the holidays or a family vacation or a kitchen remodel without the worry of looming credit card debt - the kind that takes someone paying the minimum monthly amount on $1,000 more than 20 years to pay off.

So please explore the site, open an account, and if you find the experience to be rewarding, tell your friends and family members. For specific savings goals, we truly believe you'll find SmartyPig to be the most rewarding way to go.

Feel free to contact us at anytime. And please enjoy the experience of Simple, Smart Savings.

Thanks.
- The SmartyPig Team

Tags: smartypig   •  credit card debt   •  savings account   •  saving

0 Comments | |