What would you get if you combined flickr and quicken?
You’d get a financial tracking software that would be online, so users could log on from any machine. You’d get the usual password protection and security. I’m not a quicken user. I have months where I balance my checkbook regularly, then months where I don’t quite get to it.
I pay bills online, I buy things online, I check my statement online. What wesabe does is allows me to aggregate all those statements I check, and tag each store so I can see where my money goes.
For example, I have a food tag that I apply to anywhere I’m buying food. I also have tags for groceries, snacks, restaurants, and bars. That way I can see my spending month per month on all food, then break it down even further. At first I didn’t like that you tag each vendor, rather than tagging each purchase, but now that I’m in my second month, I really appreciate it. It’s easier to keep up with.
It’s banking 2.0. Tagging, AJAX, and a community of support. Look across the top of the page, you can see other wesabe users and their financial goals. You never see their accounts, but you can share tips with one another and publicly be proud of yourself for meeting goals.