Social finance sites are evolving from utilities that track spending into resources that can provide useful, personalized advice. The sites allow anyone to anonymously upload and tag banking records and credit card statements and receive advice tailored to their particular financial situation.
Some of the sites, such as Wesabe.com and Geezeo.com, include many of the same features offered by popular software programs such as Intuit Inc.’s Quicken and Microsoft Corp.’s Money, such as the ability to track spending in different categories and from different sources in one place. But they also allow users to get feedback from peers that is tailored to their specific circumstances. Some allow users to rate the quality of other members’ tips or provide feedback on various products or services they’ve used.
Have you found the advice from social finance sites useful? Share your experiences in the comments. — CAREY GREENBERG-BERGER