About a year ago I started using Wesabe to track my spending. The site lets you easily upload information from your bank accounts and credit cards, and you can tag each transaction you’ve made. It is really easy then to look back and see where your money is going and if there are places where you might want to cut back on your spending. You can also use features to set spending targets and stay on budget, but I don’t worry about those so much. One of the most valuable tools Wesabe offers is the community message boards feature. Here, members can talk openly about their finances and ask for help or give advice. I’ve been an active contributer to the message boards since I joined, and I have probably learned more about personal finance from the community message boards on Wesabe than I have from any other single source.
In November, I participated in a No Spend Month along with various other Wesabe members. Allese, the community manager, asked me to share some of my experiences with the No Spend Month, and she used a few of them in this article on the Wesabe blog. If you’d like to learn more about the No Spend Month or my experiences, let me know and I’ll write a more detailed post. Also, you can join Wesabe and read along with the experiences of a variety of people who participated!
EDIT: On 08 December, Allese posted another blog, this one with tips (from the “experts”!) on a successful No Spend Month. Make sure you check it out!