In our never-ending search for useful money management tools, Buxfer is an option that is new to many. Buxfer is a full-service online money management tool that appeals to those preparing for everything from a summer vacation to retirement. It has something for everyone and also has many unique features that you cannot find in other money management tools. Buxfer “relates” to Google, Facebook or Yahoo, so you can sign in through an existing account. Buxfer also allows you to easily track shared expenses, so if you are going in on a purchase with other people (like Mom’s birthday present), Buxfer will divide up the expense and send out a an email or text notification of “collection” to all parties.
What’s the cost for all of this you ask? Well Buxfer is free, and if you have a Google, Yahoo, AOL, Windows Live, OpenID or a Facebook account, you don’t need to create another login so the inconvenience for free is little to none. In short, Buxfer makes the transactional aspects of life simpler.
There are six key features of having a Buxfer account that set them apart from their money management competition.
- Get a Complete Financial Picture – Buxfer automatically syncs up and downloads/categorizes expenses from your checking, savings and credit card accounts.
- Spend Less Than You Make – Set different spending limits per your different spending categories and monitor them in real-time. You can also set up a alerts that lets you know when you’ve gone over your spending limit.
- Pay Bills On Time – Buxfer sends you email reminders when your bills are due so you don’t have to pay late fees.
- Plan Your Financial Future – Marriage, vacation or an iPhone — these are examples of things you can budget for with the help of Buxfer.
- Track IOUs With Friends – Report group expenses for things like rent, a ski trip, grocery bills or sports clubs. Buxfer handles the math and generates optimized settlement plans, shuffles debt and lets you and your group-members pay online.
- Anywhere, Anytime – Buxfer allows you to see where you stand or report new expenses when you’re on the go using your Blackberry, iPhone, SMS, email, Twitter, Facebook, iGoogle, Netvibes and more.
In the end, Buxfer is a great personal finance budgeting site with many cool features. It reminds me of being on a diet. I’m sure I can lose that last $500 in debt, but it takes a lot of weighing, measuring and discipline to get there. Buxfer has a demo which you should try if you’re considering Buxfer and you’ll see the standard-fare in terms of its presentation. It has an appealing format with easy-to-read tabs and directions. The only confusing part was how to get back to the Buxfer homepage once you’ve entered the demo, but you can always open a new window if you have to.
Buxfer is a great solution for people with serious debt, people who need to save for something specific, and people who chip in to buy things with other people, like roommates. I, myself, like it for the mere fact that, as a Facebook user, I don’t need to create another user-name and password. That’s priceless. No matter what your looking to do with your finances, Buxfer has an answer. I consider myself pretty creative and Buxfer was able to manage anything I could conjure up.
Published or updated February 16, 2013.