Quote:
Originally Posted by dgcoupe
Oh interesting... 2.15% is the highest that people have told me. Is there a disadvantage to this? it seems really good to be true lol
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Smarty pig is great for putting money into savings that you don't plan on dipping into all the time to pay for things.
So with that said, the only catch is that in order to move money out of smarty pig you have to close one of your savings goals. Then all the money in that goal is transferred into your checking account. So if there is $1000 in that particular goal and you close it, $1000 is then transferred into your checking account. There is a work around for this if you only want to move a portion of that money out and not the entire amount. So if you plan to dip into your savings account a lot to pay for things, I would suggest keeping a portion of your savings in smarty pig and another portion in an online account that you can quickly and easily move any amount out and back into you checking account.
I love smarty pig because I can setup up multiple savings accounts with different goals, giving everything a place and a purpose. Also you can stop making monthly contributions to your savings goals and still accrue interest.