Raise your hand if you need help saving money. I’m guessing there are a lot of readers who have their hand in the air. Saving money for retirement or your child’s college education requires a different strategy than saving money for your emergency fund or other short term goals. Fortunately, with the launch of an innovative website in April 2008, saving money for specific short term goals has become easier for consumers who traditionally find it difficult to put money aside for specific goals.

What is SmartyPig?

Co-founded by Mike Ferrari and Jon Gaskell, SmartyPig was created to help consumers reach short term savings goals. The concept is brilliant in its simplicity. Basically you register for an account on SmartyPig, establish a savings goal and time frame in which you would like to achieve your goal and SmartyPig does the rest of the work. For example, if you want to save money for your next family vacation you simply enter how much money you want to save and by what date and SmartyPig will determine how much money you have to put away to reach your goal. You then set up an automated withdrawal from your bank account to fund your new savings account. Once you register your account you can simply set it and forget it.

Where does your money go?

If you are like me, you are probably wondering where exactly your money is being held. Once you authorize automated withdrawals your money is held at West Bank, an FDIC insured bank. SmartyPig works to provide the most competitive interest rates in the country allowing your money to grow while you save for your goal.

What about security?

Now that you know where you money is being held, the next logical question would be concerning security. SmartyPig offers a secure account set-up, account log-in, timed log-off and a powerful state of the art firewall that blocks unauthorized entry. All account information is encrypted and the website is secured with VeriSign Extended Validation SSL. Find more security information on SmartyPig’s security page.

Unique Features.

SmartyPig offers unique features that make saving and accessing your money easier than ever before. Not only are you able to save for your short term goals, but friends and family can offer their support as well. You can make your goal public on social networks like MySpace or Facebook as well as your blog or website and other people can support or even contribute toward your goal if they wish.

Once you reach your savings goal you will have the option of accessing your money via a SmartyPig debit card (accepted wherever MasterCard is accepted). Another option which can increase your savings even more (up to 6.00%) would be receiving your money via a gift card from participating retailers (list of retailers provided on website). Of course you can also simply transfer your money back into your bank account allowing you the freedom to use your money however you please.

SmartyPig certainly appears to offer a unique way to set and achieve short term savings goals that otherwise might get placed on the back burner in a shaky economy. More and more consumers are adopting a new mindset when it comes to spending and saving money which will certainly only add to the popularity of online money management or savings tools.

We have all been looking for ways to shave costs in recent months however there are some situations where you must exercise caution when saving money. One of those situations is when you seek legal advice. A good attorney can advise you how to proceed in certain circumstances that otherwise could land you in hot water legally or financially should you attempt to handle them on your own. Here are a few ways you can save some money without putting yourself at risk.

• Gauge what services you need in advance. With hourly rates ranging from a few hundred to a thousand dollars, hiring a lawyer is without question an expensive endeavor. For this reason it would pay for you to do a little research on your own before ponying up a retainer. You can then get an idea exactly what you need your lawyer to do and what work you may be able to shoulder yourself to save money.
• Understand that bigger isn’t always better. Depending on what legal advice you are seeking, you may be able to find a solo practitioner or small firm that can handle your case for much less than a major firm. In most cases due to the smaller overhead and structure of the smaller business you will see rates that are smaller as well.
• Look into resources on the Internet. The world wide web is an excellent place to find information on just about anything including legal advice. Simply type “free legal advice” in your browser and you will see there are many sites available that offer advice or forums to discuss legal questions. Of course as with anything on the Internet you should carefully consider the information you find, however in some cases you might find the answer to your question without having to physically retain a lawyer.
• Ask about flat rates. There are some lawyers or firms that recognize the convenience of charging flat fees for certain services. This makes it easier for both parties as you know what you will be paying in advance and the lawyer knows exactly what they are making for services rendered.
• Know what doesn’t require a lawyer. If you are looking to have certain legal documents drawn up you may be able to use a document preparer instead of an attorney. Remember document preparers are not lawyers (which is why it cost less money) and they are not able to give you legal advice or guidance. In states that allow document preparers to work independently of attorneys however you may be able to save money by using their services.

 In the end it is your decision which circumstances warrant hiring an attorney and how much you are willing to pay for certain services. Keep in mind that some situations are better handled by an experienced attorney familiar with the laws and your rights, making it a wise investment in the long run.