The NY Times has taken on the massive challenge of analyzing and untangling Facebook’s privacy settings. I’m not sure they’ve untangled those options enough for users to fully understand what they are up against if they want to keep their information private, but hey, at least they gave it the old college try and make it look pretty scary in the process. See here for the horror that is Facebook’s privacy options map.
Source: New York Times
Smartypig is an online savings service that in my opinion has really improved its users’ chances for savings success. Essentially users link their bank account to Smartypig and set up one or more savings goals. Savings goals each have a specific time horizon, which is used to set the amount of the automatic monthly transfer from the user’s traditional brick and morter bank account into the Smartypig account. The interest rate is very competitive compared to traditional brick and mortar bank rates (2.01% as of the date of this article with a increase to 2.15% scheduled for mid-May 2010). Smartypig is on the bleeding-edge of social media integration with users able to share their savings goals with friends and family through Facebook and Twitter with the hope that others will contribute to help reach their goal. Smartypig was officially launched in the Spring of 2008 by a couple of entrepreneurs with the help of a few corporate investors including Westbank based in Des Moines, Iowa. Smartypig accounts are FDIC insured.
I’ve used Smartypig for almost a year now and am very pleased with the system. While I don’t share my savings goals or ask others to contribute, I do like the fact that the funds transfers are automatic and take place without any action by me other than the initial setup. Savings goals can be stopped at any time with funds either transferred back to the linked brick and mortar bank account, transferred to a prepaid debit card, or transferred to a retailer gift card with retailer discounts of up to 12% built-in with retailers like Best Buy and Amazon.com on board.
If you’re looking for a great way to save money for that shiny new car or Coach handbag, I strongly recommend Smartypig. Let me know in the comments what online savings account you use and why.
