McCombs Alumni Network News

From ABC News

In response to families across the country searching for ways to reduce expenses, ABC News provides “10 Ways to Go Away Without Going Broke.” One of these ways highlights a venture by McCombs Enterprises, SmartyPig.

Be Social: Want to make it easy for Grandma and Uncle John to contribute to your vacation fund? Consider opening an account at SmartyPig, an online piggy bank where you can set a savings goal and target date. While you save, your money earns interest in a FDIC-insured financial institution to the tune of 3.25 percent APR, one of the most competitive rates in the country. And if you decide to make your goal public — you can even post a widget to your Facebook or MySpace page — your friends and family can also make donations.

Almost one in five SmartyPig customers are saving for a travel goal, according to Mike Ferrari, the company’s co-founder and COO. “In fact,” says Ferrari, “I have two kids, and my wife and I are saving on SmartyPig for two trips right now.”

For the full article, please visit ABC News.