Best Reviewed
Personal Finance Sites
- Best personal finance website Mint.com *Est. $0
- Basic personal finance site for tracking shared expenses Buxfer.com *Est. $0
- Personal finance site with community features Wesabe.com *Est. $0
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Personal finance site with community features
- Don't have to provide bank login information
- Social network offers money-saving tips
- Can import transactions from desktop software
- iPhone app and other mobile access
- Only tracks banking and credit card accounts
- Tools and reports fairly basic
- Supports relatively few financial institutions
Wesabe.com has been around since 2005, making it one of the oldest personal finance sites out there, and its unique feature is the way its social networking component works. Wesabe does not automatically categorize transactions; instead, users assign tags, which are used to budget and track expenditures. These tags generate money-saving tips, based on information from others in the social network. You can post your goals and tips on your own web page and view other users' pages. Wesabe.com does not require automatic account aggregation, but it is an option. Reviewers say it's best suited to younger people and those who want a community aspect. If you don't fit into this category, Mint.com (Free) may be a better choice, say experts.
We found a credible and detailed single-product review of Wesabe.com at About.com. We also found comparative reviews that include Wesabe at Moneywatch.com, CNET, CNNMoney.com, Slate, Kiplinger.com and GenXFinance.com, as well as on the website of Forbes columnist Sramana Mitra.
Our Sources
1. About.com
This single-product review is well worth reading for its detailed description of how the social networking features of a Wesabe.com account work: you can create your own web page where you post your goals and savings tips for other users to see; subscribe to other users' goals and tips and receive them via an RSS feed; join groups where others with similar goals share information and cheer one another on; and more. Former About.com guide Linda Roeder gives Wesabe.com a 4.5 out of 5 rating. (Note: ConsumerSearch is owned by About.com, but the two do not share an editorial affiliation.)
Review: Control Your Finances with Wesabe, Linda Roeder
Kristof tries out five personal finance sites, writes a fairly detailed review of each and rates each one on a scale of 1 to 5. Mint.com is her top choice, with 4.5 points; Wesabe.com gets 3. Kristof gives Wesabe high marks for its user interface and the fact that you can import already-categorized transactions from desktop accounting software like Quicken. However, she wishes it supported more financial institutions, and finds the discussion groups wanting.
Review: The Best Money Management Sites, Kathy Kristof, Dec. 2, 2009
3. CNET
This review compares five financial management sites. According to reviewer Don Reisinger, Buxfer.com, Geezeo.com (whose personal finance service is now discontinued) and Wesabe.com are suitable mainly for beginners who want basic information about their financial situation. Buxfer's primary strengths are its simplicity and ease of use.
Review: Manage Your Money Online With These Services, Don Reisinger, Jan. 22, 2009
Consultants Charles Bush and Kathy Hwang review six personal finance sites and rate them based on how well they perform in four areas: future forecasting, education, support groups and a scorecard feature that lets users know how well they are doing in meeting financial goals. Wesabe.com wins praise for its social networking features.
Review: Redesign That: Online Personal Finance, Parts Two and Three, Charles W. Bush and Kathy Hwang, Feb. 7 and 14, 2009
5. CNNMoney.com
This comparative review rates four free personal finance websites. Wesabe.com is pronounced "best for young people who are just starting out" and have few or no investments.
Review: All Your Money At a Glance, Joe Light, Dec. 2, 2008
6. Slate.com
This comparative review is based on hands-on testing and includes both desktop and web-based personal finance applications. Currey tries out three finance websites, evaluating each based on four criteria: security, ease of use, features and value. Currey gives Wesabe.com high scores for security and value, but lower ones for features and ease of use.
Review: Show Me My Money: What's the Best Software for Keeping Track of Your Personal Finances?, Mason Currey, Oct. 7, 2008
7. Kiplinger.comDetails/Subscribe
This excellent comparative review provides detailed looks at free sites Mint.com, Wesabe.com, Geezeo.com and Buxfer.com. Stacy Rapacon praises Wesabe, where users "support, inspire and advise one another."
Review: The Six Best Budgeting Sites, Stacy Rapacon, March 2009
According to Lauren Fairbanks, Wesabe.com offers basic financial management tools, but also provides a useful online community.
Review: Wesabe, Buxfer and Mint: Which Web-Based Financial Management Site Is Best?, Lauren Fairbanks, Sept. 10, 2008
Personal Finance Sites Runners Up:
2 picks including: About.com, The Wall Street Journal…
2 picks by top review sites.
1 pick by top review sites.