I really like SmartyPig, an online layaway system that lets you set a goal for a major purchase and have a set amount deducted from one of your checking or savings accounts every month (or twice a month). I wrote about SmartyPig last year and you can read my post here.
This kind of goal-based automated savings really works, because once you set it up you don’t have to do anything. I know that I would not be able to save money by having to manually deposit money into an account once a month; I would either procrastinate, find an excuse not to do it, or simply forget.
Earlier this month SmartyPig introduced a free iPhone app that makes the service even more useful and convenient. You can now add money to your goals, transfer funds between goals, put money into one of your friends goals, find out about your balances and transaction history, and more. The one thing you can’t do is set up a new goal from the iPhone app — you have to go to the SmartyPig website to do that.
That’s not a big deal, though. The SmartyPig app is already plenty cool as it is.
Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.
Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.
Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.