I am aware that I have been posting about pigs a lot lately, but this site deserves some recognition.
Smarty Pig acts as an online savings account, but is more goal-oriented. Say you want to save up for a really cool gadget, like an iPhone or a Wii, but there is no way that you can afford such a purchase right now. Or, say that you really want to save up some cash as a safety net, but you just can’t seem to stop spending it on fast food and pointless purchases.
Fear not, for Smarty Pig is here!
This site is original in that it allows users the option of making their accounts public or private. Public accounts are encouraged, because they allow your friends and family to donate to your online “piggy bank” to help you reach your goal.
In order for Smarty Pig to work, it suggests a monthly payment which is then deducted from your bank’s checking account. If you don’t agree with their suggested amount for the monthly payment, you can choose your own amount. But either way, you are not responsible for making the payments. It is an automated system that helps you reach your goal.
If this system makes you feel a little uneasy, take a breather. The site is protected by McAfee and is insured by the Federal Deposit Insurance Corporation. So if anything goes wrong, you’re safe. Plus, I’ve heard through the grapevine that Smarty Pig’s customer service is phenomenal, so I’m sure they could answer any inquiries relating to their service.
Along with being absolutely free and super easy to set up, Smarty Pig has an annual percentage yield of 3.09%. This is a pretty high savings rate — several times the national average from the majority of sources I’ve looked at. So, Smarty Pig saves your money and gives you money … I’d say it doesn’t get much better than that.
(Itty) Bitty Budget 