Web Wednesday: SmartyPig.com

I am a fan of piggy banks and can admit to probably being a collectorof them. While I don’t have a ton, I do have about 4 at my home and I love them. My mom recently gave me one for Christmas – a Hello Kitty one and I absolutely love it. If I find a nice can of some sort, I’ll turn it into a piggy bank –it isn’t always useful though because sometimes having the money around makes it feel like we can spend it, so why not open up a virtual piggy bank? A piggy bank that will help you track your progress towards a goal by deducting whatever it is you need, per week, or month, to reach it.

I opened up an account with SmartyPig.com and I’ve decided to use it to save money for vacations.  It’s something I don’t want to think about, yet still want to do.

I am also going to use it to take out a weekly $20 for my Christmas Fund. I’ve been doing this for a couple of years now and it is very relieving when the holidays come around and I am not thinking about having to blow a paycheck because the money is already there for the gifts. The nice part about this site is that you have the opportunity to make extra money for saving through the site and choosing to get retail gift cards once you reach your goals.  You can get up to 11% extra cash, depending on which retailer you choose.

Try it. Check out how it works. I find breaking down financial goals makes them a lot less intimidating and once you see yourself taking baby steps towards a purchase, for example, a brand new TV, it makes it all the more rewarding when you finally get it.