DISQUS

jeff · 1 year ago

It's an interesting idea however I think it will not be a big hit to most PF bloggers since we tend to despise any fee. If I win the gift card I will give the service a chance. Thanks!

Jeff

Melissa · 1 year ago

I have two savings goals. I am trying to get 10,000 in emergency funds (currently at 5,500) and then I am saving to remodel my bathrooms. I haven't got an estimate on the second one yet but I am hoping I can get it for under 6,000.

Tom · 1 year ago

Minus the fees, I think SmartyPig is a fantastic idea. Their minimum savings goal is $250 and most households will spend $250(or more) on something in the future, why not get 4.3% on top of that or an extra 5%(up to).

There have been many creative ways to use SmartyPig brought up on some of the other blogs:

~Wedding Registry
~Savings Education for Children
~College savings (for books and such)
~Community fundraising

I personally have 2 savings goals on SmartyPig. Since my wife and I just bought a house, we need furniture so our savings goals are bedroom and living room furniture.

I'll soon have a 3rd, which will be a trip to Europe next year, but I haven't decided on how much to budget.

Jonathan · 1 year ago

Interesting concept! Not necessarily for the poor planners, though.

Jonathan

Mike · 1 year ago

If it weren't for the fees I'd probably sign up. I'd think a slightly lower interest rate and no fees would get more people to contribute, and therefore increase their profits.

M.B. · 1 year ago

We are saving up for a vacation this summer to the beach!

Jon Gaskell · 1 year ago

Flexo, thanks for the post! As you pointed out, within the next 48 hours we will be updating our public contribution and gift card fees. SmartyPig customers will be able to make contributions to other SmartyPig users’ goals and buy gift cards at NO cost if they use their existing SmartyPig funding source, i.e. their checking or savings account. Our fee to make a contribution or buy a gift card using a credit card will be set at a flat 2.9% (roughly what it costs to use PayPal), and we are also planning on releasing a few other payment options in the future, as well, so that using SmartyPig will be economical for all users. It is in our best interest to make the SmartyPig user experience the best possible, thus our quick action. Thanks, Jon Gaskell, Co-Founder SmartyPig

ryan · 1 year ago

trying to save up for a four unit apartment building, every little bit helps.

Andrew G · 1 year ago

Just graduating college with a job in NYC. Need to get an apartment and furnish it...plenty of goals to choose from: a bed, desk, other furniture, tv, brokers fee/deposit, etc. Help out a recent graduate who is burdened with debt!

Adfecto · 1 year ago

I've got several things I'm saving for, but this account would be used to save for a vacation for my wife and I. We want to see Europe before starting a family.

Michelle · 1 year ago

We're saving for several things, including some new furniture and yard equipment.

EA · 1 year ago

It's an interesting idea, but that $25 fee is pretty bad. If they had a $25 bonus to open the account, maybe I'd change my mind (a free $100 would also do it). I'm going to need a new (used) car in the next couple years, so I want to put about 6k aside. But I'm pretty sure I would want it as cash, not a credit card.

Heidi · 1 year ago

I know quite a bit about this product and the bank (West Bank) - a couple of former colleagues work there.

I'm not wild about fees, but since I am getting married later this year, I'd set up a SmartyPig account if I had $100 to seed it.

Cindy · 1 year ago

Great idea! Wish I'd thought of it. Not sure I'd do it, except for that $100 gift certificate, but since you've got a giveaway, I'm in! I've got some major dental work coming up, so I guess that's what I'd save for.

gail · 1 year ago

sounds a little tricky to maneuver around the fees and other fine print. am considering saving for a good, used car but don't know if my friends and family would want to contribute to it since they have their own problems!
thanks for the post, theres certainly no harm in checking out new ideas. thanks for your efforts.

J.C. · 1 year ago

Interesting service.

I need to set up an emergency fund, and the $25 redemption fee wouldn't be bad as an incentive to not have emergencies.

(Really I just want the $100).

CyanSquirrel · 1 year ago

I've had an issue with the fee for family and friends to make contributions since the first post I read about this new "service". Now that I hear about the $25 account closure fee, I'm even more incensed. However, I do have a goal I will be saving towards: eventual replacement of my 7-year-old laptop. SEVEN years is a lifetime in computer years. It's banged up and has a crack in the case, but it still powers up and works fine for my purposes (tracking finances for the family). However, it's got one foot in the grave, and so I'm planning ahead. I'd like to buy a ThinkPad to replace it, so my goal is $600. I'll give SmartyPig a try if I'm selected for this gift card.

CyanSquirrel · 1 year ago

Andrew G, you're in debt and looking to BUY all that stuff for your pad? Dude, check out craigslist and freecycle for usable duds while you focus energies on paying off your debt. You can't afford to furnish your place with store-bought things yet!

Side comment to Flexo: The SmartyPig site owner commented here. Can he win his own gift card? Haha!

Andrea · 1 year ago

I want to start saving for a MacBook and this would be a great start.

Qi · 1 year ago

Hi Flexo! I'm saving for a trip to Italy with my boyfriend.

Jon · 1 year ago

I'd love to save up for a cruise with my wife. In our nearly four years of marriage, we've never been on a trip together!

BB · 1 year ago

Not a bad idea—wish there weren’t any fee though. I know that I have been saving up for a down payment on a condo and to pay off student loans . . . the funds are not segregated so there is a tendency to count the entire amount in savings when working out the figures for the purchase price for the condo.

Anca · 1 year ago

I guess it's a decent idea, keeping your save-to-spend goal and your saving goal separate. My next major spending (aside from my May trip to Europe) will be the 3G iPhone.

Eric · 1 year ago

Saving for a new car. I decided to take my current savings and pay off a student loan. Hopefully I can build it back up and a avoid a junker.

Corey · 1 year ago

Hi! I'm saving up for a honeymoon next year and would like to be entered into your drawing. Thanks!

Kay · 1 year ago

I was checking out Smartypig yesterday and was strongly considering them for my children's savings account.

GL · 1 year ago

I used to save for a "B" share of Berkshire Hathaway, just so I could attend the annual shareholders meeting and listen to Warren Buffett talk, but I'm pretty sure I missed the deadline. :-/ Now I'm in the process of reinvesting it by reselling Nintendo Wii's. ;)

jonestown · 1 year ago

A nice idea except that the fee scares me.

Glblguy · 1 year ago

We're saving our Christmas fund using Smartypig.

I agree the fees are a bit steep, but pretty easy to overcome if you're diligent. The trick to getting around people being charged for contributing to your savings goals is to just have them register.

Steve R · 1 year ago

I'm saving to replace a fence. Having a 5% bonus to Home Depot would help quite a bit.

John · 1 year ago

Since I often shop at Amazon this can be a good deal to save if I manage to avoid the fees.

Jeff S · 1 year ago

I'm saving for a new laptop for my wife and I to replace the sloooow one we have now.

Meagan · 1 year ago

My husband and I are saving to:
1) pay down my student loans that will enter repayment in Febrary 2009.
2) Starting a new down payment fund.
3) Trying to prevent taking out private loans to pay for my husband's dental school.
4) New car fund. Both of our cars are older than 10 years and have more than 100,000 miles so we'll have more repairs and eventually a replacement in our future.

Thanks for the review of SmartyPig!

kpow · 1 year ago

I am saving for a new computer. The old one has been repaired once already and is on it's last legs.

Matt G · 1 year ago

I love free money, even if there are a few strings attached. My goal would be saving for a house-full of new windows.

Stephanie PTY · 1 year ago

Right now, my savings account is piling up toward paying off my credit card debt (which is at 0% APR, or else I wouldn't be "saving" for it, I'd just be paying it off!). For something like SmartyPig, though, where it's a purchase... I think I'd be looking at saving for a trip - probably to somewhere in Europe.

avidphotog · 1 year ago

We're saving for a full tank of gas. This may help us reach that goal.

DBT · 1 year ago

Interesting concept. If I had $100 seed money, my savings goals would be:
1. Furniture/Needs of our new home (closing May 1st)
2. Helping sister with her wedding (April 09)
3. Build up a proper emergency fund

Jacqueline · 1 year ago

I have too many savings goals to list! Please pick me :)

Jason · 1 year ago

Saving for vacation .. pls pick me.

SaRa · 1 year ago

I am IN! I have a big list for savings !!! On the top is saving for kids!

PT · 1 year ago

Saving for a bigger e-fund.

CheeseEverywhere · 1 year ago

I'm about to purchase a new home (and sell my current place) - and the new place is going to require a new fridge and dishwasher... Must save for those appliances, since I'll be broke once the housing transactions go through!!

Steph · 1 year ago

I'm going to be moving shortly and I have absolutely no furniture, so I'm saving for a desk and a couch

HisMoney · 1 year ago

Flexo, I just found your site after reading about the SF get-together for yourself and some of the other PF bloggers. I recently opened a SmartyPig account and wrote about the experience myself. I'm using it for a christmas fund (remember xmas club books anybody?) and for a specific purchase I plan to make in the future. I'll more than likely take advantage of the extra 5% from a retailer and thus maximize my return.

Overall, I think SmartyPig will be successful if it is marketed for what it really should be, a way to save for things that you would otherwise be tempted to use a credit card for.

Margot · 1 year ago

I'm currently saving for:

1. a new bike - to replace my 26 yo bike
2. tuition - I work FT and attend school PT

Just found you via GRS - thanks for the chance to win $$$.

Bekki · 1 year ago

We're saving to furnish the nursery. :)

lpkitten · 1 year ago

I'm working to save $10,000 to pay for grad school in the fall (Masters and teaching credential) :)

Vince · 1 year ago

I think the fees are kind of killer and a huge barrier for shared goals, but I like the general idea. I would love to use this to save up for a laptop I plan to get.

Christine · 1 year ago

I am saving for vacation, Christmas shopping and a new set of tires for my car.

David · 1 year ago

i would love this gift card. I would use it to start a fund that will go towards remodeling my kitchen or bathroom!

Emily · 1 year ago

My immediate savings goal is to establish a decent emergency fund... somewhere around the $6000 range. I've never been too good at this... hence the debt. So far I've got about $500.

James · 1 year ago

I'm saving for my emergency fund, an engagement ring, a new (used) car, and retirement.

Kate · 1 year ago

My boyfriend and I are saving to be able to be able to move him across the country and so we can be together.

dustin · 1 year ago

I'm saving $3,000 for a vacation to Africa.

J.G. · 1 year ago

Count me in! I'm saving for home improvements!

Joshua · 1 year ago

Hmm, $100. I'll take it! I'll honestly probably cash it out and invest it elsewhere but if it's a contest I'm in it to win it!

Jonathan · 1 year ago

This would be a nice head start to saving for a real dining room table, instead of the one I currently have that is falling apart.

S.B. · 1 year ago

My next savings goal is for an addition for our home!

Kelley · 1 year ago

Hi there! I am currently saving up to remodel my small, outdated kitchen. I have a side business as a caterer, so I pretty much live in my kitchen, testing new recipes and cooking with my two little girls. Every catering dollar I make is going towards my "kitchen fund." I opened a SmartyPig account last month after hearing about it from my sister, and I think it's a neat idea.

Leanne · 1 year ago

This sounds great! I am saving to fix my poor, broken car. Count me in!

willie · 1 year ago

We’re saving to furnish the nursery

Jamillah · 1 year ago

I would like to saving for a down payment on a home and build up my emergency fund. Not only have I made some financial mistakes in the past, but I am trying to make up for all of that.

Lolita · 1 year ago

I have several savings goals, but if I won the gift card, the goal would be to save for a car that I can pay for in cash so I can get rid of my car payments.

Amy · 1 year ago

I'm saving up for a lap top. Hoping to buy it during my state's tax free weekend in August.

rewards · 1 year ago

Doing the "pre-529 eligibility" savings plan. :)

Christin · 1 year ago

I have a SmartyPig account, and we are saving for a house downpayment (a seemingly impossible task here in the California Bay Area)!

My Dollar Plan · 1 year ago

Not sure what my goal would be. I'm buying a new car soon, but that wouldn't work with SmartyPig.

dreamfool · 1 year ago

Fund my trip to Japan!

Lacy · 1 year ago

I don't know if this is still open (I spend Saturdays catching up on all my blog reading! D'oh!), but hey, the vacation/i also need a new laptop funds have no shame ;)

Emily · 1 year ago

$1,400 dollars for a new laptop (praying that this one doesn't die before finals) and $800 for next year's books.

Sean · 1 year ago

I am in the process of saving for a new car! $10K. The 100 gift card would be a great start! I have recently realized how important money is to my life and I need to get things in order.

Michelle · 1 year ago

Will use toward kitchen and bathroom repairs

Flexo · 1 year ago

The giveaway is now closed. Thanks!