You create an account where you set a specific savings goal. Say you want to save for a new computer. You need $1,000. You create an account and then let your friends and family know what you're saving for. They can make contributions (or not).

You can contribute to their accounts too.

SmartyPig also has partnered with "top retailers" to offer you deals and cash incentives.

It's free and you can even earn interest on your deposits.

Text messaging is something that has become second nature to young people as young as 9 or 10 years old, and it has basically made email obsolete as a way for teenagers to communicate with one another. Thompson reports that in December his two teenagers sent and received about 10,000 text messages - that's about 83 messages each per day - while his 17 year old son claims to have sent maybe 10 emails in the whole month.

On the other hand Thompson himself - a technology savvy parent and real estate agent - has more than 5,000 email messages in his inbox, and most of his own text messages have been back and forth with his children. So there is clearly a "generation gap" when it comes to the use of electronic messaging.

As he says, "The point is, the way we communicate is changing. According to some researchers there will be 2.3 trillion text messages sent this year. Wikipedia says that 80% of 13 – 24 year olds use text messaging (compared to 18% of 40 – 49 year olds). That’s a whole lot of texting by a whole lot of soon to be first-time home buyers."

The other change that has already taken place over the last couple of years is the way an increasing number of people use social networking sites like Facebook and Twitter. People who would not think of using a stuffy email message to talk to each other find themselves commenting to each other back and forth through Facebook and Twitter. Not only are these becoming mature communication channels between people, but companies and entrepreneurs are finding innovative ways to interact with customers and prospects through these massively popular media.

The bottom line is that real estate agents will have to accommodate themselves to the communication media used by their clients. That means if they want to reach young people who are plugged into these non-traditional modes of communication, they themselves will have to become plugged in.

If you use one of the free "hosted" blogging sites (Wordpress.com, Blogger.com, LiveJournal.com, Blog.com, and many more) you can create a brand new blog in about 15 minutes. When you choose this option you become part of a larger site such as wordpress.com and your address will be something like

http://yourtownrealestate.wordpress.com

or http://yourtownmoneymanager.blogspot.com

The advantage of this approach is that it is fast and cheap. Plus you will get some traction and search engine exposure for your blog because it will be part of a much larger network that gets crawled by the search engines on a regular basis.

But in my estimation, the disadvantages outweigh the advantages.