Wesabe is in the news a lot this week. It’s great to see so much interest in what we’re doing.
First, Kiplinger’s Personal Finance magazine has an excellent article by Thomas M. Anderson about us in the September issue:
Now several free web sites offer an easy way to keep tabs in one place on all your expenses. Wesabe (www.wesabe.com) is our favorite.
The site provides excellent security, which should be your top concern when you post your financial data on the Web. Unlike most money trackers, Wesabe doesn’t ask you to disclose your account passwords. Rather, Wesabe software that runs on your computer keeps those passwords encrypted. When you upload data to the site, it takes only the information needed to help you budget.
We’re honored to get such a strong recommendation from one of the top personal finance publications.
Next, Lifehacker editor Gina Trapani has a great write-up about us in the September MacWorld magazine:
…the Wesabe community will offer you tips about your spending habits. For example, next to an entry for a purchase at Trader Joe’s, a fellow Wesabe member might suggest a way to save $5 on groceries. You can also create goals on Wesabe (“by a MacBook,” say, or “pay off credit cards”), and then browse through the goals other members have set; if you find someone with similar aims, you can compare notes and swap advice. Wesabe keeps your personal banking information private but does aggregate and display community data — such as how much Wesabe members spend on average at the Apple Store.
Finally, the Boston Globe published an extensive article about Wesabe and social personal finance, by Carolyn Y. Johnson, in today’s paper:
“There’s no question if you’re a consumer, you are so outgunned by the marketers lined up against you,” said Jason Knight, chief executive of Wesabe.com. “Social finance is a way for consumers to find out if there’s real value where they’re spending money. . . . It’s absolutely critical in rebalancing the power between consumers and marketers.” […]
On Wesabe, clicking a transaction tells a user how much other people spent at a store, let’s them know where fans of the store tend to spend money, and exchange relevant tips linked to transactions — such as how to avoid shipping costs at Amazon.com or an analysis of how much a cup of coffee really costs.
David Knight, 28, of Greer, S.C., spent a lot of time online looking for ways to squeeze money from his budget when his son was born and signed up for Wesabe in February.
“I like the social aspect; it saves me time . . . and it ties in everyone else’s ideas,” he said.
Thanks so much for everyone who’s expressed interest in talking with us about Wesabe — it’s amazing to see.