Paying Off Credit Cards? SmartyPig.com Can Help

As countless numbers of Americans have decided to put an end to excessive credit card spending and put an emphasis on paying down debt, millions of consumers have decided to no longer use plastic and instead use other forms of payment. While in some cases this is what was needed to become more stable financially, unfortunately for others their case is much different. This is because in most cases they are still left with balances from prior months that were not paid in full, and are accruing interest that is putting them even further behind in the finances.

When it comes to paying off the balances owed there is no better way than by creating a detailed plan. While there is many ways and places to do this, one place in particular stands out above the rest. That place is SmartyPig.com and they help their accountholders save money for the specific goals they want to accomplish in the future.

So what is SmartyPig and how can it help you pay off your credit card balance? In short, it is a saving account that gives its accountholders competitive interest rate as well as many other features that make saving money fun and worthwhile. While there are many features available to those utilizing this account, to me one of most notable is that you are given recommendations on the amounts that you deposit regularly to help ensure that you reach your goal by the time you specified. (As in relation to credit cards, now that issuers must display pay-off dates at minimum and current payments on statements, knowing how long it will take you to pay off balances is much easier to specify.)
 
 

Another great feature that sets this account apart from others includes the ability for the user that allows friends and family members to contribute to their financial goal. With this feature you can keep those closest to you updated through many of the mainstream social sites on the web such as Facebook and Twitter. When it comes to the savings account itself and where your money is located, you will be pleased to know that the account is held with West Bank. This means that the account is also FDIC insured (to maximum amount by law) so you know that your money is safe.

In all, with SmartyPig.com not only do you have a plan but you also have interest being added to the money you save. While it will more than likely take you longer to get out of credit card debt than when you first got into it, at least you have a timeline established of when you will get it paid off. Not only that but you also have the ability to have your friends and family support you along the way.