Stop Impulse Spending. Start Impulse Saving!

Brent Pittman —  06/01/2012 — 1 Comment

Piggy BankWe all impulse spend. My weakness is Snickers at the checkout stand. What if instead of buying that Snickers, I rewarded myself by saving the amount of my candybar towards a goal?

Now, there is an easy way to impulse save. I was given exclusive access + 20 invites to an invite only website ImpulseSave. No, I’m not getting money for this-it’s just a good creative financial tool that promotes saving.

I’ve played around with ImpulseSave this week and am pleased with it so far. If you want an invite, scroll to the bottom.

Video: What is ImpulseSave?

Stats and Facts:

Is ImpulseSave Safe?

  • ImpulseSave employs the same high-grade encryption used by financial institutions and government agencies.  All your financial information is encrypted in transit, and in storage.
  • They meet or exceed all industry standards to safeguard your data.
  • Your money is held in your new FDIC-insured savings account at Leader Bank.
  • The short answer: Yes. The long answer: They are built like Fort Knox.

ImpulseSave Features:

Specific Goals: instead of a nebulous “emergency fund”- now you can save towards your vacation, a wedding or your kids education separately in one savings account.

Save Anywhere: You can impulseSave via SMS text, via Instagram, on the ImpulseSave site and soon via their new I-Phone App 2.0.

Autosave: Weekly autosaves ensure that you’re ALWAYS making progress towards your goals, even if it’s only $5 a week. (To have a goal, you must invest $5 a week).

Success Driven: They send weekly updates on your goal progress and encourage you every time you make a save!

Social: Comment on a funny save from your friend, encourage those who are making good decisions – be inspired to save yourself!

How it Works

I loved the part where I got to hold my ID and Debit Card up to my webcam to confirm my identity. Genius I say!

What I Like About ImpulseSave

  • I love the creativity in this product and that it promotes a habit of saving.
  • Very user friendly. It is easy to setup, the options are easy to manipulate and find,
  • The graphics and layout of the site are really classy and well done.
  • They’ve got a cool blog with helpful advice.

Room For Improvement From ImpulseSave

I’d like the ability to have a goal, without being forced to auto save every week. I’m all for autosaving, but the name of the product is ImpulseSave, not AutoSave.

I hope they’ll improve on their low savings rate of .40% APY. Currently ING offers .80%, with several other banks offering higher savings rates. If you have a small goal–it won’t matter much, but if your goal will take 1+ year to achieve then the lower savings rate will become a factor.

Give ImpulseSave a Try

I believe ImpulseSave is a worthwhile product to inspire and motivate your savings. If you need accountability and want to save–Give ImpulseSave a Try. I am. Visit ImpulseSave for an invitation.

If you want to register for an invite to ImpulseSave visit here http://ontargetcoach.impulsesave.com/. This link will work for only 24 hours and only 20 people will receive an invite, so join if you’re even 1/2 way interested.

Thanks for reading–let’s get saving!

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Brent Pittman

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Brent is a financial coach and writer looking for the perfect donut. He believes personal finance should be both fun and accessible to anyone willing to learn.