SmartyPig creates online savings plan to reach a goal

SmartyPig, a conventional concept to promote savings, which was founded in 2008, has used a combination of social networking and banking to reach its mission: The company encourages people to save for specific goals and, so far, it has helped people reach almost $3 billion in savings goals. In an online account a goal for a specific purchase is set. The money transfer to this account can be completed automatically. After that, through social media such as Facebook and Twitter, friends and family members have the opportunity to make their contribution to the goal. After reaching the amount dedicated retailers offering discounts for those doing savings.