Log In Sign Up


Forum: Financial Planning and Budgeting


Welcome to the JustMommies Message Boards.

We pride ourselves on having the friendliest and most welcoming forums for moms and moms to be! Please take a moment and register for free so you can be a part of our growing community of mothers. If you have any problems registering please drop an email to [email protected].

Our community is moderated by our moderation team so you won't see spam or offensive messages posted on our forums. Each of our message boards is hosted by JustMommies hosts, whose names are listed at the top each board. We hope you find our message boards friendly, helpful, and fun to be on!

Reply Post New Topic
  Subscribe To Financial Planning and Budgeting LinkBack Topic Tools Search this Topic Display Modes
March 27th, 2009, 11:50 AM
:::Dan!elle:::'s Avatar Proud to be a CPST!
Join Date: May 2006
Location: Wyoming
Posts: 10,368
has anyone ever used this? is it legit? I'm wanting to set up an account because it earns 3.25% while my regular savings at my bank only earns .25%
Reply With Quote
March 27th, 2009, 12:23 PM
Jen1409's Avatar Platinum Supermommy
Join Date: May 2008
Location: Groton, CT
Posts: 5,435
never heard of it
Reply With Quote
March 28th, 2009, 06:40 PM
~Samantha~'s Avatar Mega Super Mommy
Join Date: May 2006
Location: Missouri
Posts: 1,409
never heard of it.

My Chaotic Blog
Reply With Quote
March 29th, 2009, 05:54 AM
Posts: n/a
I think Trent at the Simple Dollar has talked about this site before. I think it is legit. I would go to his site and do a search.
Reply With Quote
March 29th, 2009, 09:47 AM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
Posts: 16,959
article from freemoneyfinance.com

The SmartyPig service also has quite a few fee traps. Hey, they've got to make money somehow! You want to contribute $100 to your sister's wedding? They will charge you $5 every time you do it. How come you can add money to your SmartyPig account by electronic fund transfer but you can't pull your money back the same way when your goal is reached? Because they want to earn the interchange fees from the debit card. If it takes 1 year for a typical goal to be reached, they pay you 4% interest on an average of 50% of the ending balance (because money is added to the account over time), but they take back 2% interchange fee from the merchants when you use the debit card. That's smart business (for SmartyPig, not you)! They get to recoup their entire interest cost. What a deal. If you ever lose your debit card, they will charge you $20 for a replacement. Don't want the debit card but want a check instead? $25 fee for producing a check. Are the gift cards with up to 5% bonus such a big deal? You can buy gift cards today from eBay and a few other places at a discount which translates to a bigger bonus. How did SmartyPig become a roach motel where your money can check in but it's so hard to come out? What's wrong with just crediting back to the same checking account the money came from? I'm afraid it's because they don't make any money that way. Breakage from prepaid debit cards and gift cards is a big deal.
Free Money Finance: SmartyPig: A Simpler Way to Save Or A Fee Trap?

Reply With Quote
March 29th, 2009, 12:03 PM
:::Dan!elle:::'s Avatar Proud to be a CPST!
Join Date: May 2006
Location: Wyoming
Posts: 10,368
thank you for that info! I do know that you can transfer the money right back to your checking account for free. Maybe that is something new.
Reply With Quote
March 29th, 2009, 04:07 PM
Posts: n/a
Hmmm. I figured it had to be something going on if they can pay those kinds of interest rates. If it is free to transfer now that is good. I would just read the fine print really carefully to make sure there is not an annual fee or something now. If they have taken one fee away they probably added another.
Reply With Quote
August 24th, 2012, 09:51 PM
Join Date: Aug 2012
Posts: 1
For those who find it difficult to organize multiple savings goals, there is a service called SmartyPig. SmartyPig is a goal-based savings service, which confirms multiple savings accounts for a person with particular tasks in mind for the funds. Source: goal based savings account
Reply With Quote
October 23rd, 2012, 01:11 PM
mommy2Breana+Brandon's Avatar Platinum Supermommy
Join Date: Dec 2006
Location: PA
Posts: 39,401
I have never heard of it.. I think you are better off with a money market of some sort with your bank

Do you love food, entertaining, cooking?!?! Then you will LOVE Tastefully Simple. www.tastefullysimple.com/web/cpisch

Reply With Quote
December 11th, 2012, 07:00 PM
Join Date: Jun 2012
Posts: 128
Never heard of it.. keep researching! Anything connected with money. you must be sure there are so many scammers out there!
Reply With Quote
June 25th, 2016, 08:32 AM
Join Date: Jun 2016
Posts: 9
Never heard of it either.
Reply With Quote

Topic Tools Search this Topic
Search this Topic:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT -7. The time now is 04:47 PM.

Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2018, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0