While cruising the Kiplinger website, I found an article on a new type of savings account called SmartyPig. They immediately sucked me in with their cool graphics and savvy website.  I’m a sucker for good design!

I thought it was a great idea for short term savings goals.  It has a fantastic APY of 3.9%. The best part is that your friends and family can contribute towards your goal.  The account is free (as shown by the great graphics!). The constraints are a minimum goal of $250, a minimum time period of 3 months (but it can stay there for as long as 50 years), and a minimum initial deposit of $25.

A.