Are you an impulse shopper? What if you could convert that impulsive bad habit into a good one? ImpulseSave.com is designed to do just that. The company allows anyone to impulsively save from anywhere via a mobile phone. It may not be as immediately gratifying as a new pair of shoes, but when you begin to see the savings account balance grow, the gratification will be there to stay.
Participating in ImpulseSave.com is easy. You simply set a savings goal, create a virtual piggy bank and link your new ImpulseSave.com savings account with an existing checking account. Whenever you get the urge to spend, skip the impulse purchase and impulse save instead.
While the ImpulseSave.com app is only available for Apple iPhone users, anyone with a mobile phone can participate. Non-iPhone users can transfer money into their savings account with a simple text message, no smart phone required.
I admit, this sounds like a cool idea, but the first question I had was whether or not the funds were secure. The answer to this question is yes. The ImpulseSave.com savings account is insured through the FDIC, just like a traditional brick-and-mortar savings account. Once you reach your savings goal, the money can be withdrawn at any time through a simple ACH transaction.
Photo: Tax Credits/Flickr