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Buxfer

Free

Reviewed April 2009
Buxfer

Free online budget software

pros
  • Excellent for creating simple budgets
  • Keeps track of IOUs for groups
  • Users don't have to provide login information for their accounts
  • Provides mobile access in a variety of ways
cons
  • Tracks only banking and credit card accounts
  • Does not automatically categorize transactions
  • Free membership limited to five accounts

Buxfer's specialty is its ability to track spending among members of a group of people who share expenses (although you can also use it to create a personal budget). It creates IOUs that can be paid from the Buxfer website using Amazon Payments. Besides IOUs, Buxfer tracks only banking and credit card accounts, but you can create budgets and sign up for email alerts. If you're worried about security, you can manually upload account data to Buxfer; you can also provide login information, and Buxfer will automatically gather and update your account data. Buxfer has a free membership with five accounts, budgets and bill reminders; an upgrade to unlimited membership costs $2.79 a month. Those who want to track more types of accounts and get more sophisticated reports may want to try Mint or Quicken Online, but neither specializes in creating budgets.

We found recent comparative reviews of Buxfer at CNET, Kiplinger's Personal Finance, Generation X Finance and PCMag.com.

Our Sources

1. CNET

This review evaluates and compares financial management sites Buxfer, Geezeo, Mint, Quicken Online and Wesabe. Reisinger praises Buxfer for its simplicity, noting that it provides easy-to-understand, step-by-step instructions on how to set up your accounts on its website. However, he criticizes its reports as being too basic to be of much help in managing one's finances. He concludes that "Buxfer is simple and responsive. If you're looking for something basic, it's a great place to start."

Review: Manage Your Money Online with These Services, Don Reisinger, Jan. 22, 2009

2. Kiplinger Personal Finance

Buxfer is included in this review of the six best budgeting sites. Stacy Rapacon notes that Buxfer is most useful for group budgeting and tracking IOUs among friends. According to her, Buxfer is "P]erfect for roommates or group vacations," and she reports that "you can invite contacts to join and track shared bills (you can even access Buxfer via a Facebook application)."

Review: The Six Best Budgeting Sites, Stacy Rapacon, March 2009

3. Generation X Finance

Lauren Fairbanks likes Buxfer's simple layout, as well as some of its features. She notes that Buxfer allows users to set up budgets, add tags (which function as categories) to transactions, receive an email if they overspend their budget in any category and receive weekly reports by email or text. Like other reviewers, Fairbanks enjoys the fact that users can keep track of people who owe them money, or to whom they owe money and pay IOUs from the Buxfer website. The only downside she notes is that there aren't many different types of reports.

Review: Wesabe, Buxfer and Mint: Which Web-Based Financial Management Site Is Best?, Lauren Fairbanks, Sept. 10, 2008

4. PCMag.com

The editors of PCMag.com name Billeo, Buxfer, Mint and Wesabe in the finance category of their best free software of 2009. Buxfer is chosen because "divvying up the bills at the end of the month becomes a breeze."

Review: The Best Free Software of 2009: Finance, Editors of PCMag.com

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