SmartyPig.com has all of the best features of online banking and social networking. If you are the type of person who loves blogging, Twittering, or any other form of social networking the SmartyPig.com is definitely the savings website for you.
There are a number of ways SmartyPig.com can help you save money that are different from a traditional savings account. Let’s start with the APY which 3.25%. Frankly, this is an amazing interest rate and by better by far than those most banks are currently offering. Add to that the fact that the savings account and all of the tools on the site are free and it is easy to see why this website is such a great idea.
Now let’s talk about how SmartyPig.com can actually help you save money as opposed to simply being a place where you can save money. You tell Smarty Pig what you are saving for and choose the most appropriate savings category. You then set a specific savings amount and completion date and SmartyPig tells you how much you need to save each week to make it happen. You can set up automatic withdrawals from your primary bank account. If the money is going to come out of your bank account automatically at the same time every month you will grow accustomed to not having it available. This makes the savings process much easier. Sure, it is possible to set up a similar process with a separate savings account within your primary bank, but SmartyPig takes savings a step further.
It is possible to add a SmartyPig widget to your blog, website, Facebook, or Myspace to let everyone know what your savings goal is and how you are doing in your attempt to achieve it. It even lets people contribute to your savings goal if they wish. This level of openness and accountability make SmartyPig a great choice for those of us who have extensive and supportive online social networks. It allows your friends to cheer you on and stay on target.
If you need to save money but have trouble finding the motivation to do so, SmartyPig.com is the solution to your problem. Find your inner cash hog and show off your virtual piggy bank.