Achieving Savings Goals with SmartyPig

The list of highest yielding bank savings accounts includes an entry for SmartPig. Since SmartyPig does not sound like a bank, what exactly is it? SmartyPig is for savers who are working to meet a specific savings goal. After a savings goals is established SmartyPig can set up an automatic debit from your existing checking account to your SmartyPig savings account held at West Bank Iowa earning an extremely competitive rate of 3.90%.

SmartyPig is also social network where you can make public your savings goals for friends and family to provide financial support. SmartyPig widgets can be added to your Facebook or MySpace page, blog or Website to make it easy to connect with donors. With the focus of the financial media on the inability of the American consumers to save, SmartyPig is counting on their customers being rewarded for their savings commitment with donations to help the savers achieve their goals - whether they be for Christmas presents, a family vacation, children’s education, or even a new boat.

SmartyPig has partnered with some of the country’s top retailers that in many cases are offering what you’ve been saving for. Savers have the option of selecting retail gift card when they have reached their savings goal. The gift cards offer cash discounts from retailers which can be as much as 5% of your savings. Savers can also receive their funds back via a debit card or by check.

Saving money is going to be a big theme from financial planners as many consumers find themselves drowning with credit card and house debt. Many financial planners can help consumers consolidate debt and work out a savings plan (with a program like SmartyPig) to maintain a disciplined approach to saving money.

Find out more at SmartyPig.com