Wesabe is a financial tracking site. Theoretically one can agglomerate all one’s financial data in one place. Unlike Mint.com, Wesabe states that you own your own financial data and the security is reputed to be great. Likewise the graphics were quite nice. Oh, Wesabe even has a nice little FireFox Add-on and we all know I love those. So why is Wesabe not chosen as my financial web app? Tagging transactions by their category was tedious, but that didn’t push me over the edge. What really made it impossible for me to continue my relationship with this otherwise lovable application, was that I could not get it to add all my investment accounts. Indeed, other than my bank, even adding credit cards was cumbersome. So, I had to leave my cheery but less than agile companion behind. Not that I wouldn’t recommend it to someone with limited accounts that Wesabe likes, because I would.
I don’t like big companies like Intuit’s Quicken, but by gum it works, it’s free, and it’s what I’m going to use. It added every account I’ve got without blinking an eye. When an account required a security question, I was prompted and we carried on until all my data was uploaded to their secure and private server. Most of my transactions were properly tagged right out of the gate. It took me about five minutes to correct those that weren’t labeled or were (understandably) mislabeled. Now, I have a one stop shop of where I stand financially. It even has an application, for, you guessed it, my iPhone.
Do you use software to manage your finances? Would you trust an online service? What tools do you use?