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Originally Posted by lennygaudy
Good points disneysteve, I think I'm just going to cancel my enrollment and inform my friend & sister too.
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It's not a bad program, and I'm not sure it warrants cancelling (if you are comfortable using your debit card for purchases). It's just not a substitute for conscious, planned saving. Any kind of match is free money, and that's a plus with this program.
People here have a problem with it because it gives spenders a false sense of security and the mindset "the more I spend, the more I'll save!" If you're comfortable using your debit card my advice is to stay enrolled and continue spending
as if you had cancelled the program. Get some of those free matching funds. As for the low rate of return, you can always transfer those funds periodically somewhere else with a better rate.
I can see how this program could be used responsibly to one's advantage, just like credit card rewards programs.