Tag Archives: spending wesabe

Digital Finance February: Yodlee, Mint, Geezeo, Cake

Despite prior raves about various digital finance sites, I’m ultimately still left unsatisfied with my current offerings.

I think what I want is simple. Sure, I’d like some cute features and nifty community learning options. But what it comes down to it, I want an online finance site that:

1. Shows me my checking and savings account data in REAL TIME (not 6 hours ago, not 3 days ago, but as in up-to-the-minute updates).

2. Includes my investment earnings and losses for the day/month/year. Cake has a great feature showing me how I’m performing versus the markets and other users. I imagine once investments are on the site, this feature can’t be too hard to implement. I’d even be happy without it.

3. Budgeting tools. The sites are pretty good now at coming up with such tools. I love Mint’s budget breakdowns. But it’s not really helpful in the way I need it if the data isn’t actually up-to-date. It isn’t helpful if I have to go sign into BankofAmerica.com and breakdown my monthly spending just to keep on top of everything AFTER I sign into Mint or any other second party bank account tracking site.

4. A *bonus* would be if the site provides me with legitimate ideas on how to save money. Not like Mint, that tells me if I switch to a $47 a month Verizon plan I’d save $x per year when the fact of the matter is, the only reason the month cost me so much at Verizon is because I went over on my minutes. In fact, I’m ALREADY ON the plan they recommended. If your recommendations are going to be wack, I recommend not recommending at all. How’s that for a recommendation?

Cake.com
My latest find, thanks to a friend, is Cake.com. This site is… howdoyousay… hypothetically awesome for investors. That is, if it worked properly. (I’ve added my Sharebuilder account but am having trouble adding my Vanguard account). It’s not really like Mint, Geezeo or Yodlee at all, so it probably should be compared separately… although if Cake really wants my business, they’d simply have to add my savings and checking accounts so I can track all my money at one place. And really my Vanguard account would have to work too.

Mint.com
By far, Mint still has the best UI. I love Mint, I really do. But I’m getting impatient waiting for them to add investing accounts. If Cake, Yodlee and Geezeo can all add investing accounts, and if Mint is built on top of Yodlee’s architecture, I don’t understand why it’s so difficult to add investing accounts. Maybe they’re not focused on 24-year-old “old fogies” like me that enjoy putting some of my monthly income into Sharebuilder and Vanguard. But I like to budget my monthly income based on how the market is doing (obviously this month I’ve been failing at that!) I think Mint is going to be amazing in the long run. They’ve already added a bunch of nice features (like a chart showing me how my spending on different things compares to other people in the area). But, come on Mint, add my investment accounts and maybe figure out how to make my data “update” as in “update currently” and not “update what my bank statement looked like yesterday” and I swear, I’ll ask you to marry me.

Geezeo
Aw, Geezeo, Geezeo, Geezeo. I really want to like you. I found you and Wesabe first, and you were much better than Wesabe. You even have investment accounts now. But there’s something about your UI I don’t quite like. Maybe it’s the fact that I’m having trouble adding my Vanguard account on here too, or, when I tried to add my ING Direct Savings account and waited about 5 minutes for it to process, you told me “Heavy traffic is causing delays. Please try again. If you think this is a problem with Geezeo, please tell us by making a Support ticket.” I feel like there are just too many bugs on the site for it to be worth my time right now. Updates are just as delayed as any of the other sites. The UI is sloppy too. Mint, on the other hand, has such a nice design, with screen real estate divvied up quite nicely. Geezeo kind of looks like a kids toy. And the useful features are often buried at the bottom or hard to find.

Yodlee
Despite being boring (yawn) and basic (blegh) Yodlee is still my top digital finance choice. Why? On Yodlee, at the very least, I can see data from all of my accounts including Bank of America (checking, savings & credit card), ING Direct, Vanguard, Sharebuilder, Paypal and Prosper. Data is still a bit delayed, which bugs me, which means I still have to sign into BankofAmerica to check my current checking account status, but I can deal. At least I can see everything in one spot.

Got into the Mint beta!

However, I’m sworn to secrecy about its inner workings. But I will say – extremely vaguely – that I’m very excited to see what the Mint team has done. There’s a few kinks that still need to be worked out, of course – that’s to be expected in private beta, but I have a feeling Mint will end up winning me over amongst all the PF sites out there (I’ve also used Wesabe and Geezeo thus far.)

If you want your own invite, go over to http://www.mint.com and ask for one yourself. 🙂

Spending Habits of the Weak

In my attempt to determine where my money disappears to, I’ve sought out the aid of online personal finance tracking sites. Those of you who have been following my blog know that I enjoyed the ease of getting my finance info up to the Geezeo site. I’ve actually had a bit of trouble with signing in to the site lately (I’m pretty sure I’m using the right password, but then even when I try to reset the password it doesn’t work.) In any case, given that I have little patience and quickly got fed up with typing in my June spending into Excel, I signed in to my Wesabe account and updated my info so I could track my spending…

Geez. I spent a lot last month. I knew I was spending more than I made, but it’s kind of painful to see how grossly I burst past my invisible budget. I spent $3559 in June. But I only made $2273 for the month. Actually, come to think of it that’s all inaccurate because I deposited my final paycheck (which I received June 30) sometime in July. So right now my July earnings are noted as $2466, but really that money was earned in June, and half of the money counted in my June income was really my May paycheck. Plus, some of that money was the $450 my friend paid me to live in my apartment for the month. Oy, my income is much harder to track than my expenses.

I do need to start keeping tabs on my income. While I’ll be making more money at my full-time gig (when I start in a week), what I really need to do is track the money I make working the small freelance gigs I pick up on the side. Whether that’s doing some copy writing for my uncle’s digital marketing company, or designing a basic website for a friend who offers to pay something for the work… I really need to figure out how much per month I’m making on outside projects. Why? Well, it’s difficult to figure out a budget when these extra projects become a consistent portion of one’s income. When I was making about $2000 a month after taxes this year, the extra $100 a month I made on copy writing for my uncle was really a huge bonus. But then one of the companies that I did work for (through him) decided they no longer wanted him to put together a monthly newsletter, so I was then out $50 a month. Considering how much I spend, that $50 isn’t worth that much, but it’s also worth a lot. That $50 covered one voice lesson and a cheese plate at Starbucks.

My general theory on spending (albeit an irresponsible one) was that if I spent slightly more than what I was making at $35k a year, when I received a raise or managed to land a job with a higher paycheck, I’d be able to live comfortably at a slightly higher salary. After all, I don’t overspend EVERY month. Just most months. But only by about $600 to $1000. I don’t think I’m the type who will start spending more just because I’m making more. Sure my rent went up $145 a month (ouch), and I might splurge on nice clothes and paying for a nice dinner with the bf more often, but overall I think my spending habits will remain constant.

One thing I’d like to spend money on… if I had more money… would be travel. I’d love to take a real adult vacation, like to Hawaii or someplace like that. Thus far my only travel during my full-time work years has been back home to New Jersey. And up until now, my parents have chipped in for my plane ticket back east. But that doesn’t really count as a vacation, despite the high cost of that ticket. Going home is something that I just have to do every once in a while, but it’s not a relaxing getaway.

Since my bf doesn’t work, I’d really love to be able to afford to take us both to Hawaii, or maybe Seattle, or even to some random small ocean-side town in Southern California. I’d love to be able to splurge on a massage every once in a while, or just while on vacation. A massage and a facial. And maybe one of those fancy foot scrubs. And then there’s the laser hair removal and teeth whitening that I want to be saving my pennies for.

So… there’s plenty of things I could spend any extra income on, surely. Would I actually spend it? I’m not so sure. I’m not a huge saver, but I’ve never been good about spending money on big purchase items that I actually really want. Like that laser hair removal. I have this syndrome called PCOS and one of the lovely symptoms of the disorder is having excess facial hair. I don’t have a full-grown beard or anything, but I do spend a ridiculous amount of time tweezing random hairs out of my chin line and sideburns. God, what’s I’d give to permanently get rid of those hairs! Would I give $1500, or whatever the cost is these days for permanent (and painful) hair removal? Possibly. I’m afraid if I did that and it worked, I’d be addicted. I’d have to get my legs and armpits done, and my belly and back. I’d give anything to be hair free in the places where hair oughtn’t be.

Anyway, what makes me sad about my spending habits is knowing that I can go and spend $700 on clothes and makeup in one month, but I’d never really consider spending that much money on laser hair removal at this point in my life. Even though obviously it’s one of those things that I really want. I think I need to go to spending school. I need to get my financial priorities straight. I’m not sure where laser hair removal would fall into these priorities (after all, the treatment would be a luxury for sure, but in a way it’s a medical expense because it’s not like I can live a normal life with a thousand hairs growing out of my chin). Too bad my health insurance doesn’t care about that.