SunTrust Introduces Daily Budgeting Application for Facebook

In support of its Live Solid initiative, SunTrust Banks, Inc. , (Atlanta) launched Daily Dollar, a Facebook application designed to bring to life the notion that small lifestyle changes can add up to big savings. Daily Dollar allows users to forge paths toward savings without sharing their personal financial information. According to SunTrust, the application puts a unique spin on the typical budgeting tool by providing money-saving tips with actual dollar amounts that add up to a desired goal.

To start tracking spending with Daily Dollar, consumers visit facebook.com/LiveSolid and click on the Daily Dollar tab. Then, they can choose their daily savings by typing the amount into the space provided and clicking "Go." Next, they can drag icons from the left side of the screen to the right. These icons represent ways consumers can save money, such as "Reduce Your Shower Time"(which saves 75 cents per day) and "Cook a Meatless Meal" (which saves $30 per week). Once consumers hit their goals, they have the option of publishing the results on their profiles or trying the application again with new goals.

"We are excited to offer this unique application on Facebook " an untapped resource for helpful budgeting tools," said Rilla Delorier, Chief Marketing Officer for SunTrust Bank, Inc. "Daily Dollar is a great example of how saving money doesn't have to be a huge undertaking " small changes in our daily spending can really add up to make a difference."

Daily Dollar is the most recent online component of the Live Solid initiative on Facebook. The Facebook fan page provides consumers with a platform to join the Live Solid conversation and connect with others by sharing advice and inspiration for getting their priorities straight and their finances in order. Additional Live Solid tips and resources can be found at twitter.com/LiveSolid.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio