One Stop Personal Money Manager

by Admin 27. March 2008

For many of us managing our personal finances is not in our top 10 list of how we want to spend our spare time. Attempting to coordinate multiple bank accounts, credit cards and loans can be a hassle, especially when each one resides at a different institution. One solution is using management tools like Quicken or Money but who wants to spend money to manage their money. Well, let me introduce you to the FREE online personal money managers Wasabe and Mint.com. That is right…FREE! Not only are these account aggregators free, but they also help you save money.

wesabe

Wasabe (not the nuclear horseradish paste served with sushi) allows its users to “take control of your finances and help each other make better financial decisions.” It accomplishes this in three ways, (1) informing you on how to better understand your spending habits, (2) identifying how you can receive more value from your money, and (3) setting financial goals by socially connecting you to others Wasabe users who have similar financial profiles. Check out below for videos of the Wasabe interface and how to clean up the “gobbledygook” that is your finances.

mint

Mint.com is the personal account management tool that I enjoy using right now because of its visually appealing interface and the minimum amount of information required to synchronize multiple accounts. Mint also has agreements with over 4,000 banks, credit unions, and credit card providers which it securely downloads transactional data from each night. Transactions are categorized and organized to show how much you spend on gas, groceries, parking, DVD rentals, etc., while an alert system can notify you of unusual activity, low balances, unwanted fees and upcoming bills. Mint also keeps tabs on the latest offers from hundreds of providers and recommends ways you can save money on interest rates and other expenses (Mint.com features). During its beta period, Mint found an average of $1,000 in savings opportunities for each user within minutes of setting up their account. Mint is available by web or mobile phone and already has a user base of 60,000.

Go try one out for yourself and let us know how your experience went by commenting to this post.

Comments (2) -

Kate
Kate
7/30/2008 5:03:54 PM #

Wasabe Update

    UPDATE:

    Wesabe has added a new feature, the ability to update your account via Twitter, After logging in to Wesabe and providing your Twitter name, you then simply send a private or public message (aka Tweets) to Wesabe's Twitter account. Wesabe then adds the expense to your cash-tracking account. You can include merchant name, expense categories, and descriptions to the transaction

anonymous
anonymous
8/14/2008 8:32:45 AM #

I use Mint and I love it. It really helps me to be able to see all my accounts at the same time on one page without doing any of the work myself! They just added capabilities for loans, so I can add my student, car and mortgage loans.



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