SmartyPig®: Posts tagged 'savings account'

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May 14, 2008 • Posted by Jon Gaskell

An Economic Stimulus Plan for the Holidays

Oh, I know. The holidays? Who's thinking about the holidays... in May? The answer may not be you, but you should be. Here's why: The so-called holiday hangover. What's the holiday hangover? It's the sting that millions of Americans are still feeling, as they receive their credit card statements each month. And when do they spend the most? You guessed it: the holidays. And they spend even more when they charge their gifts instead of paying in cash, getting caught up in the holiday spirit.

It's a habit you want to definitely want to avoid. And with 116 million Economic Stimulus checks en route or already delivered, nipping the holiday hangover in the bud has never been easier.

Tags: holiday savings plan

• savings account

• economic stimulus check

• tax rebate check

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May 5, 2008 • Posted by Jon Gaskell: A Smarter Choice for Stimulus Checks; While the federal government is hoping some 116 million American families waste no time spending their rebates from the Economic Stimulus Package, SmartyPig is an alternative for consumers who wish to do their part to boost the economy while also getting more for their money... and reinforcing the benefits of good financial habits through disciplined savings.

For consumers, this means that a $1,200 rebate check put toward a SmartyPig savings goal for just 90 days would result in an additional $12 or so in interest (at our current APY). Add that to a 5% cash incentive boost from a top retailer (retailers and boosts vary), as well as three minimum monthly deposits of $25 (a user must have a goal he or she is actively saving for), and Mr. John Q. Taxpayer suddenly has more than $1,350 instead of $1,200 to help stimulate the economy.

Now, if Mr. or Mrs. Taxpayer has two children and wants to create a goal for next holiday season, his or her $1,800 rebate check put toward a SmartyPig savings goal for 7 months would result in an additional $43 or so in interest. Add that to a 5% cash incentive boost from a top retailer, as well as seven minimum monthly deposits of $25, and Mr. or Mrs. Taxpayer suddenly has $2,119 instead of $1,800 to help stimulate the economy and NO credit card debt come January.

SmartyPig was created to make saving money a fun and educational experience for individuals and families alike. If we have to save the economy, as well, so be it.; Tags: savings • budgeting • economic stimulus check • tax rebate check • savings account
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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.

Tags: debt reduction

• credit card debt

• savings account

• saving

• budgeting

• budget

• credit card rates

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April 21, 2008 • Posted by Jon Gaskell

When Pigs Fly

SmartyPig is getting terrific buzz. Awesome blog reviews and national coverage have led to an extraordinary amount of interest, which has led to a surprising number of customers and a high level of deposits. Exactly what we want. Just one problem: the transaction engine that moves your money into SmartyPig has a cap on the amount of money it will move in any one 24-hour period. Good news is you are making enough transactions to hit the cap. Bad news is, well, you're making enough transactions to hit the cap.

And, as Murphy's law prevails, we hit it over the weekend (when the 24-hour period is actually bundled into Saturday and Sunday); and customer support from the company that controls the transaction engine wasn't as supportive as we needed - kind of like getting the answering service when you really need to talk to the doctor. So as some tried to open accounts, add money to their goals or had automatic deposits scheduled, the error messages started popping up and the emails to our customer support center started coming in. We have spent the better part of the day trying to contact each individual who was inconvenienced to apologize and to let them know all is back to normal.

Tags: smartypig

• savings

• savings account

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April 11, 2008 • Posted by Jon Gaskell

'Great Buzz' About SmartyPig

Four weeks after going live, we are feeling what one member of the media called "great buzz". People are talking about SmartyPig. And, better yet, people are creating accounts on SmartyPig, setting up goals, inviting friends and family to help them along, and those people are setting up accounts, too... and telling others. Many others. Hence the buzz. This morning, we were excited to see the interview we have embedded here on WallStreetJournal.com.

We were likewise ecstatic to be featured on American Public Media's NPR featured program "Future Tense" which showcases the latest technology topics in daily five-minute capsules. "Future Tense" is heard in the United States during broadcasts of the CBC's "As it Happens. " Have a listen below: RealAudio - MP3 - iTunes

Tags: smartypig

• savings account

• saving money

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