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Earning a Little More Interest

August 13th, 2013 at 12:35 am

I've had savings account with ING for a while now but I decided to go back to banking with SmartyPig.com I know it's a funny name but they are paying 1% versus .75 at ING. I like them because it allows you to set-up goals and save towards them. Once you have reached your goal, you just transfer funds to an existing linked account or you can even put it on a gift card where you receive an additional % as a bonus. The accounts that I currently have at ING is for new car fund, travel and my emergency fund which I will now move over. I might add a goal for Christmas and other yearly expenses like property taxes, etc..

Earning .25% more may not seem like much but I'll take it!

Posted in Uncategorized | 2 Comments »

2 Responses to “Earning a Little More Interest”

  1. Petunia 100 Says:
    August 13th, 2013 at 01:52 am 1376358739
    1376358739

    I have run across SmartyPig before, but did not consider them because I found it confusing. Are you required to cash out when you reach your goal? Do you have the option to just leave your cash in the account once your savings goal has been reached?

  2. Beawealthywarrior Says:
    August 13th, 2013 at 02:08 am 1376359721
    1376359721

    According to their website: "Once you have met your savings goal your automatic recurring contributions will stop. Your funds will continue to earn interest until you manually close your goal." This info can be found at https://www.smartypig.com/how-it-works/faq

    I also know that you don't have to fund monthly if you don't want to. You can deposit funds once or whenever you want.

    If you decide to join, I can send you a referral link also.

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