As some of you may notice, I have a new sponsor on Free Money Finance (see the big pink ad to the right.) It's SmartyPig -- the online piggy bank and social networking site. Anyway, since they'll be around for awhile, I thought I'd ask if anyone out there uses SmartyPig and if so what you think about them. And if you don't, why not?
Interested to hear your thoughts...
I am using them because they offer one of the highest interest rates and they have an extra "boost" with certain merchants. I'm currently saving for a vacation next year (Apple Vacations maybe?) and furniture (Pottery Barn).
The other plus: when I contacted them for support and to make some comments, they sent me directly to the founders of the company, Mike and Jon. Not everyday that happens!
Posted by: tom | October 01, 2008 at 11:22 AM
I did forget to mention that I might try to have my relatives send me SmartyPig gift cards for Christmas or contribute directly to our savings goals instead of sending gifts.
Posted by: tom | October 01, 2008 at 11:24 AM
Never heard of them before I saw the ad on your site and The Simple Dollar. How about a brief write up of what they offer fans of FMF?
Posted by: Kevin | October 01, 2008 at 11:51 AM
Eh, too many fees.
Posted by: Noah | October 01, 2008 at 12:27 PM
Noah --
What fees specifically? Isn't it free?
Posted by: FMF | October 01, 2008 at 12:32 PM
It is good for "forced" savings as you have to contribute at least $25 monthly that is automatically withdrawn from your linked account. The money is not accessible until the goal that you defined is met or manually stopped.
Posted by: Alan | October 01, 2008 at 03:33 PM
Like Kevin (above) I have never heard of them. I have to admit that I didn't notice the pink pig either until you pointed it out. :-)
Posted by: Pat | October 01, 2008 at 05:58 PM
I hate to say this, but every few months or so, all the personal finance sites post articles about SmartyPig, which sucks due to all the fees. I don't know why you all tout this, I'm guessing a kickback.
Posted by: Ryan S | October 02, 2008 at 08:46 AM
Ryan --
As I said above, they are a sponsor here.
But what fees are you referring to?
Posted by: FMF | October 02, 2008 at 09:26 AM
They used to have fees, but it appears the fees have been eliminated. My mistake.
Posted by: Ryan S | October 02, 2008 at 12:21 PM