Today’s edition of the Wall Street Journal has an article analyzing the recent surge in popularity of “social personal finance” websites. Jane from the WSJ writes:

… amid the rising popularity of social-networking services such as Facebook and MySpace, a crop of new personal-finance Web sites is letting users post their private personal-finance details and share advice with each other on tracking their spending and making better investment decisions.

Jane spoke to Mike Zazon, one of our users from Ohio, who used spreadsheets before switching to Buxfer. He says:

Buxfer takes away the awkwardness of going to collect (debts) later

Right on, Mike! Friends need to be as comfortable with sharing money as they are with sharing photos, and that’s what Buxfer is all about.

The innovation happening in the personal finance space is very exciting indeed. What’s better is that users are willing to change their traditional behavior patterns and try out new things which help them simplify their financial lives. Social personal finance is definitely here to stay. Intuit and Microsoft, WATCH OUT!!

This entry was posted on Thursday, June 14th, 2007 at 3:43 am and is filed under Press. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.