http://tinyurl.com/6hm2p5
Personally, I'd rather use SmartyPig and earn some serious interest (3.90%) by saving for the things that I want/need to buy.
Layaway Making A Comeback?
Moderator: Jim O'Bryan
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David Lay
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Layaway Making A Comeback?
New Website/Blog: dlayphoto.com
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sharon kinsella
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For people with kids layaway is an easy way, not only to pay for the items, but to make sure they have everything they need for the kids for Christmas or school clothes.
"When I dare to be powerful -- to use my strength in the service of my vision, then it becomes less and less important whether I am afraid." - Audre Lorde
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David Lay
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True, but SmartyPig is designed to be sort of a layaway program, but better. You set up a savings goal to meet by a specific date, and it will make monthly withdrawals in varying amounts based on your savings goal.
Example: I'm saving for a MacBook Pro, and I want to reach the goal by March 2009. My goal is $2500, so SmartyPig will deduct $485 per month from my checking account on a date of my choosing. On top of the $2500, I will also earn 3.90% APY on my savings.
$2500 + 3.90% APY = $2597.50. Net profit of $97.50, just for letting my money work a little harder for me. Much better than layaway if you ask me.
Example: I'm saving for a MacBook Pro, and I want to reach the goal by March 2009. My goal is $2500, so SmartyPig will deduct $485 per month from my checking account on a date of my choosing. On top of the $2500, I will also earn 3.90% APY on my savings.
$2500 + 3.90% APY = $2597.50. Net profit of $97.50, just for letting my money work a little harder for me. Much better than layaway if you ask me.
New Website/Blog: dlayphoto.com
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Jim DeVito
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