With the holidays around the corner and the Back-To-School nickel-and-dime fest fresh in my mind, I'm slightly obsessed with our family's cash flow. Perfect time to launch a big savings goal, right?
I'm the first to admit that I'm the Primary Spender in our household. So how can a socially-engaged Mama like me become a Super-Star Saver?
Make it automatic. Tell the world.
How? I use SmartyPig.
No one from SmartyPig asked me to write this. My friend, Edie, shared the idea and it's brilliant.
I love having a small amount of money, automatically withdrawn from my bank and moved to my goal-specific account each month.
Even better? My SmartyPig account earns a 1% APY*. *APY=Annual Percentage Yield and it changes-this is Sept 25th rate. It's what you earn by saving your moolah.
Sound dinky? If you've looked at any of the savings rates out there, you'll be lucky to earn Point-Oh-Nothing. This IS rock star savings.
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SmartyPig not only has a great rate, but I can set my Goal and use it to buy a Retailer Gift Card. Saving $500 for a new couch? You could have a $25 boost when you use the savings on a Pottery Barn gift card. Saving for a new wardrobe? Your $100 saved becomes $110 on a Banana Republic gift card. You see the bonus features.
What is SmartyPig? A bank that's really FREE. Yep, no fees. You've saved money right from the start.
Finally, I can share my savings goals with my friends on Facebook and Twitter. Maybe you're not up for asking for donations but just TELLING someone that you're trying to save money helps you feel responsible, accountable and oh-so-grown up. You can start a savings flash mob!
Go ahead and skip your afternoon coffee, turn off your lights and cancel that gym membership. Use more coupons and buy in bulk. They're all great ways to save money. But to SAVE your money in a safe, easy and socially-friendly place, try SmartyPig. Then, when your girlfriends pressure you to go shopping with them, you can update your Status with a new rallying cry, "I'm a Saver!"
Note: Honestly, I love the feeling of setting and making financial goals and this is just one tool that makes it easy for me. Do your homework. This may not be the best idea for you but I'll leave that up to you. All my very own opinions in this UN-sponsored post.
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