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March 15, 2010 • Posted by Michael Ferrari

SmartyPig March Madness (Twitter and Facebook Contests)

Not just one but TWO Twitter (and Facebook) contests coming your way for a chance to win $100 big ones in March. Let the savings begin!

SmartyPig will be giving away not just three, but FOUR $100 gift cards through our monthly Twitter contest, TWICE: 

1. Thursday, March 18 at 11am CST. We will tweet a question and give our followers 15 minutes to reply for a chance to win.

2. Tuesday, March 30 at 11am CST. Same format as above!

The format:

1. After 15 minutes, we will be picking 16 random people with a number generator from the pool of correct answers.
2. We'll use an old favorite to help in selecting three gift card winners.
3. We'll post the process here on our blog, so everyone can follow along!

Make sure:

1. You're following us on Twitter or are a fan on Facebook.
   
2. We'll ask the $100 question on Thursday, March 18 AND Tuesday, March 30 at 11am CST.
3. Answer the question correctly for your chance to win!
4. If you are answering via Facebook, you will need to email us the answer (email to be provided at contest time) within the 15 minute time frame.

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!

Tags: smartypig   •  saving money   •  twitter   •  contest   •  smartypig gift cards

1 Comment | |

March 12, 2010 • Posted by Michael Ferrari

SmartyPig, Lending Club, Mint and CreditKarma to talk Banking 2.0 at SXSW

Guest Post from our friend Rob Garcia, Director of Product Strategy at Lending Club.

SXSW Interactive has quickly become the conference where attendees and presenters explore the latest trends, technologies and products that are changing how we interact, communicate and transact.

This year, Lending Club will sit with SmartyPig, Mint and CreditKarma to talk money and innovation in the banking industry. Jennifer Openshaw, CEO of Family Financial Network will moderate a conversation that promises to be interesting and thought provoking.

In the midst of a financial crisis, people are compelled to save, budget and lower their dependency on traditional financial services. Stock picking communities, person-to-person lending, personal finance management and even credit score management tools, have emerged to serve the changing needs of customers exclusively served by traditional banks and credit unions.

In this panel, we will discuss key trends, emerging technologies, and financial products that are changing the way people interact with the banking and financial services industries.

Banking 2.0: Financial Services Driven by People & Emerging Technologies

• Saturday March 13 at 12:30pm at the Hilton Hotel, downtown Austin, Room G
• Moderated by Jennifer Openshaw, CEO of Family Financial Network
• Attend >>

Panelists:

• Rob Garcia, Sr Director Product Strategy, LendingClub.com
• Aaron Forth, VP of Product, Mint.com
• Kenneth Lin, CEO, CreditKarma.com
• Bob Weinschenk, CEO, SmartyPig.com

Can't attend in person? Don't miss out on this stellar line-up! â€¨Follow @SXSWfinance for live updates and questions to the panelists during the panel.

The following was a guest post by our friend Rob Garcia, Director of Product Strategy at Lending Club.

 

Tags: smartypig   •  sxsw   •  lending club   •  mint.com   •  creditkarma.com

0 Comments | |

February 26, 2010 • Posted by Michael Ferrari

New Home Page, Videos and More!

This week we launched a couple new updates to the site that we wanted to let you know about. First we updated the home page and included links to new video tutorials.

The new videos do a great job of highlighting the many unique benefits of SmartyPig, like how to create a new goal, share your goal and redeem your goal. The videos are also located in the "Features and Video Tutorials" page and on our new YouTube Channel.

We also included a new field in the goal creation process, that if you choose to share your goal with friends and family, you can include a goal description as shown below. For more information on how to share a goal on SmartyPig, click here.

And here is how it will look on your sharing page. Remember, friends can find your sharing page by entering your email address on the "Find Friends" page located here.

Thanks and don't hesitate to reach out to us anytime.
Mike Ferrari, SmartyPig co-founder
@mferrari

 

Tags: smartypig   •  new features   •  video tutorials   •  goal description

2 Comments | |

February 25, 2010 • Posted by Michael Ferrari

Card Act Balancing Act And Why You Still Lose Using Plastic

Thanks to our friends in Washington, credit card companies have a new rulebook that restricts them from raising interest rates while having to disclose the amount of time it will take to pay off debt if consumers only make the minimum payments. Too bad the pundits forgot to take ridiculous fee hikes off the table when it came time to create reform, and the sharks are circling.

In this hilarious piece on how the industry works, comedian Jon Stewart explains why we at SmartyPig feel the way we do about young people getting on the wrong track with plastic. Writes Gawker TV: "Stewart first explained that the problem with American consumers is that they not only desire a Champagne lifestyle on a Busch Light budget, but will take any opportunity to act on that appetite - even when painfully aware of the consequences of doing so. If you let them, they will spend, whether they have the money or not."

SmartyPig's stance on fiscal responsibility and the overall evil tactics used by big banks in the form of credit cards has not changed since day one. And we truly feel that Americans are waking up. In a recent blog, we shared some encouraging numbers regarding younger people turning away from credit cards, saving up first, using products that won't get them in a near-impossible hole to dig out of. Building up good credit is certainly a must at some point. But getting paid a great rate to save and then paid even more to spend that money when you've reached your goal is the best way to get started as you begin your financial journey.

Mike Ferrari, SmartyPig co-founder
@mferrari

 

Tags: smartypig   •  credit card   •  jon stewart   • 

1 Comment | |

February 15, 2010 • Posted by Michael Ferrari

Credit Card Use Plummeting: Common Sense Soaring!

Call them old fashioned if you wish, but the number of people who just say "no" to credit cards has taken off, leaving in its wake new credit card data that suggests people are either smarter, more afraid or banks are still shying away from extending credit. Whatever the case, whatever is happening is working.

In a recent article about the slowing of credit card usage, USA Today shows us that "Revolving credit - largely made up of credit card debt - fell by nearly 20% in November, and that through October, the number of new credit card accounts was down 46% from the same period in 2008. Those numbers are staggeringly strong. What gives? People simply aren't up for the abuse at the hands of big banks anymore who will jack up rates at customers' most vulnerable points.

Sandra Block, the reporter for USA Today spoke to young people who are anti-credit card. What they had to say was as educated as it was eye opening. Why the drop in card usage: It's a "hassle." It leads to "huge debt." It's not a "rite of passage into adulthood." It's "not worth it." And what do they get in return for keeping the faith and staying true to themselves: "Fewer bills, headaches and fears."

We here at SmartyPig believe credit cards should be avoided for now, that people should save up of the things they want, take the same route their grandparents did and sock money away - especially in such a troubling economy, and not just for a rainy day. Vacations, electronics, new clothes, necessities, all can be done smartly and without risk.

While credit cards can be useful to build credit, we think people, especially younger people, should probably wait. After all, the difference between bad credit now and good credit later might be as easy as saying no to credit cards until you're ready. Or as the young Block interviewee Emily Maddox says: "I've known people who have had credit cards, and I've seen what can happen if you get behind and how hard it is to get out of debt. I don't like owing people money."

Mike Ferrari, SmartyPig co-founder
@mferrari

 

Tags: smartypig   •  credit card   •  usa today

6 Comments | |