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Introduction to other services | Save Money, Spend Wisely and Reach Your Goals | wesabe.com

Periodically, we will outline some other services, that may be of interest to you. No recommendation is offerred or implied, but these are services that we have used ourselves, and know something about.

Wesabe is an interesting service that offers a simple way to watch your expenses in a way that is not hard to do. All the Canadian Banks have been integrated into the service by Wesabe along with thousands of other Banks from around the world.

Many money management software applications are just too much work, and put the average person off. Wesabe says “get to know your own money”.

Wesabe: Spending Summary

In the last 2 months, you’ve spent an average of $ …. per month.
So far this month, you’ve spent $ ….

With a little one time effort at tagging your main expenses, it produces terrific graphs, and information about your spending patterns that immediately gives you a view where your money goes.

I have met the folks, including Jason the CEO, and one thing they are passionate about is ensuring security is rock solid. If you are interested in their service, take a look at wesabe.com.

What are your thoughts about Wesabe?

  • http://www.microlending.ca Dan

    I’ve signed up for an account, but haven’t added any bank accounts yet.

    Positives:
    Support for Canada
    Allows you to add your own unsupported banks

    Negatives:
    Most (all) of the Canadian support isn’t really “true” support. They have a firefox extension that downloads your account details but you have to give your login and password every time you start firefox (I think). If you choose a US bank account, it just asks you for your logon and password once on the wesabe website, and it will do all of the work for you. Mint.com (which I do use for my US account) works this way, updating nightly, but no Canadian support yet.

    Perhaps the Canadian banks aren’t so hot on the idea of… anyone providing a better service than they do/can for free…

    Surprisingly, the main feature I’m interested in is not the tagging/discussions/tips, but just having weekly or biweekly emails about my transactions and balance without ever having to login. When you have a couple of accounts at different institutions, logging into each one to check over things is a pain I’d rather avoid, along with learning the intricacies of each custom-built platform.

  • http://communitylend.com/ Colin

    re: “Perhaps the Canadian banks aren’t so hot on the idea of… anyone providing a better service than they do/can for free…”

    I agree with everything you say here Dan, except that quote … seems they could, but do not offer what Wesabe does.

  • http://www.microlending.ca Dan

    Ya, I’ll agree that what I said was a bit premature. I’d imagine that the reason why services like Wesabe and Mint.com don’t support Canadian accounts directly is due to the CDN banks’ unwillingness to provide the proper platform/data connections/allowances, or the market isn’t big enough in the eyes of Wesabe/Mint.

    If the latter is the case, I think they’re missing out on a lot of pent-up demand.