Comments on: Saving Money with Wachovia's Way2Save http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Tue, 16 Mar 2010 09:10:51 -0400 hourly 1 By: Random Rant Abount My Checking Account | Green Panda Treehouse http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4230 Random Rant Abount My Checking Account | Green Panda Treehouse Thu, 15 May 2008 17:01:04 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4230 [...] Gather Little by Little shows you that can Save Money with Wachovia’s Way2Save [...] [...] Gather Little by Little shows you that can Save Money with Wachovia’s Way2Save [...]

]]> By: Debt2Assets » Blog Archive » Wachovia Savings Initiative Is Worth A Look http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4213 Debt2Assets » Blog Archive » Wachovia Savings Initiative Is Worth A Look Thu, 07 Feb 2008 12:32:56 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4213 [...] does express a couple of reservations about the program, so read his blog to learn what they are. Personally, I’m looking forward to saving a nice bit of money, [...] [...] does express a couple of reservations about the program, so read his blog to learn what they are. Personally, I’m looking forward to saving a nice bit of money, [...]

]]> By: Matt Keegan http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4229 Matt Keegan Thu, 07 Feb 2008 12:12:33 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4229 I just signed up today -- it looks like the Wachovia program could be a good thing. We've used automatic withdrawals for years, taking money out for college funds, retirement, Christmas, and vacations. My only recommendation for users is to keep tabs via online banking to see how this program works for them. I'm sure it'll be a good one, but like any financial arrangement, managing it is important. I just signed up today — it looks like the Wachovia program could be a good thing.

We’ve used automatic withdrawals for years, taking money out for college funds, retirement, Christmas, and vacations. My only recommendation for users is to keep tabs via online banking to see how this program works for them. I’m sure it’ll be a good one, but like any financial arrangement, managing it is important.

]]> By: RobY http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4228 RobY Tue, 05 Feb 2008 18:38:39 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4228 Thanks for pointing this program out glblguy. I used the calculator (link above in article) and found over 3 years I would earn $316 in bonuses and interest based on a steady $130 in monthly transfers (my max without changing spending habits). If I already banked at Wachovia then I would be tempted to signup. However, for my personal circumstances that is not enough to get me to switch banks... for others it will be. Instead, in my case I will put that same money ($4,996) to work on my existing debts. When considering a program like this I would urge people to make sure they really understand their finances, how the program works inside and out and how it applies to their personal situation. Is it a gimmick? Would it change you behavior (or increase the risk)? Is it a good fit for your existing financial plan (i.e. free money) or will you be making changes to your plan (that you might not fully understand). Most importantly, I would look at it from the sellers point of view. Does Wachovia just want the warm fuzzy feeling of knowing they helped you or do their benefits run much deeper? After all superbowl ads don't come cheap. I don't mind the seller of a product making money but I also want to make sure I didn't let my guard down. In the hands of the right person this may be a good program. If it causes you to lose focus and change your behavior then it may be a CHEETAH (I would be curious to hear Dave Ramsey's take on it). I enjoy your blog... it gets me to thinking. Thanks for pointing this program out glblguy. I used the calculator (link above in article) and found over 3 years I would earn $316 in bonuses and interest based on a steady $130 in monthly transfers (my max without changing spending habits).

If I already banked at Wachovia then I would be tempted to signup. However, for my personal circumstances that is not enough to get me to switch banks… for others it will be. Instead, in my case I will put that same money ($4,996) to work on my existing debts.

When considering a program like this I would urge people to make sure they really understand their finances, how the program works inside and out and how it applies to their personal situation. Is it a gimmick? Would it change you behavior (or increase the risk)? Is it a good fit for your existing financial plan (i.e. free money) or will you be making changes to your plan (that you might not fully understand).

Most importantly, I would look at it from the sellers point of view. Does Wachovia just want the warm fuzzy feeling of knowing they helped you or do their benefits run much deeper? After all superbowl ads don’t come cheap. I don’t mind the seller of a product making money but I also want to make sure I didn’t let my guard down.

In the hands of the right person this may be a good program. If it causes you to lose focus and change your behavior then it may be a CHEETAH (I would be curious to hear Dave Ramsey’s take on it).

I enjoy your blog… it gets me to thinking.

]]> By: Lisa Spinelli http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4211 Lisa Spinelli Tue, 05 Feb 2008 12:45:03 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4211 Glad you're not changing. Live and let live, if you ask me. ISn't that one of the treats of being an American in this world? I enjoy your Christian perspective. It kind of makes your blog unique. Lisa Glad you’re not changing. Live and let live, if you ask me. ISn’t that one of the treats of being an American in this world? I enjoy your Christian perspective. It kind of makes your blog unique.

Lisa

]]> By: glblguy http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4212 glblguy Tue, 05 Feb 2008 11:09:29 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4212 @Sean - Thanks Sean, no plans to change :-) @Sean – Thanks Sean, no plans to change :-)

]]> By: Sean http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4216 Sean Tue, 05 Feb 2008 06:39:21 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4216 Thank you for a very informative article. This sound like a good program for those of us who save in little ways without the hassle. One of the things we do (like so many others) is use a mason jar for loose change. That helps boost savings from cash transactions, this could be a double whammy for debit transactions!! I do not know if I will sign up, we are fairly happy with ING, but definately will do some more research. I for one enjoy the Christian aspect of this blog, so please do not change anything. Those who do not appreciate it have a whole plethora of personal finance blogs available w/o the Christian faith. They might wish to read the second half of Proverbs 13:22 as well. May God bless you and your family. Thank you for a very informative article. This sound like a good program for those of us who save in little ways without the hassle. One of the things we do (like so many others) is use a mason jar for loose change. That helps boost savings from cash transactions, this could be a double whammy for debit transactions!!

I do not know if I will sign up, we are fairly happy with ING, but definately will do some more research.

I for one enjoy the Christian aspect of this blog, so please do not change anything. Those who do not appreciate it have a whole plethora of personal finance blogs available w/o the Christian faith. They might wish to read the second half of Proverbs 13:22 as well.

May God bless you and your family.

]]> By: Roshawn @ Watson Inc http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4215 Roshawn @ Watson Inc Tue, 05 Feb 2008 04:52:55 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4215 This is very much like BOA's Keep the Change program, which I have had for about a year and a half. I have no complaints because it pays me for spending money that I would need to spend anyway. This is very much like BOA’s Keep the Change program, which I have had for about a year and a half. I have no complaints because it pays me for spending money that I would need to spend anyway.

]]> By: Ron@TheWisdomJournal http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4214 Ron@TheWisdomJournal Tue, 05 Feb 2008 04:34:07 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4214 More and more banks are coming up with promotions like this. It just goes to show you that people CAN save if they want to. Imagine how much the Federal Government could save up under a similar program . . . 900 kajillion checks per year is a lot of dollar bills! More and more banks are coming up with promotions like this. It just goes to show you that people CAN save if they want to. Imagine how much the Federal Government could save up under a similar program . . . 900 kajillion checks per year is a lot of dollar bills!

]]> By: deepali http://www.gatherlittlebylittle.com/2008/02/wachovia-way2save/comment-page-1/#comment-4227 deepali Mon, 04 Feb 2008 23:58:15 +0000 http://www.gatherlittlebylittle.com/2008/02/04/wachovia-way2save/#comment-4227 Oh, I see what I missed - the $1 per transaction, not $1 per $1. Well, now it makes more sense to me. :) And if it's the only way to get a high-interest account - now THAT makes sense. Thanks for clearing up! Oh, I see what I missed – the $1 per transaction, not $1 per $1. Well, now it makes more sense to me. :)

And if it’s the only way to get a high-interest account – now THAT makes sense. Thanks for clearing up!

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