Many readers are familiar with the plethora of personal finance tracking sites available these days. Now there’s a newcomer to that arena: DoughHound.com. The site, created by married couple Daniel and Jillian Tobias, launched earlier this year, and is a spin-off of their personal project to save enough money for a trip around the world.
The primary difference between DoughHound.com and other sites, such as Mint.com, is that DoughHound is made with the privacy concerns in mind. Dough Hound does not require users to offer up their private, personal account information.
This feature comes with pros and cons. For those skittish about sharing their information, this option provides peace of mind. On the other hand, DoughHound does not automatically track and categorize expenses. Users have to manually enter their expenses and tag them in one or more categories. This presents the user with a much heavier time burden: minutes spend recording expenses can add up. However, it also avoids errors that sometimes occur when sites automatically sort expenses into categories.
DoughHound allows users to take a direct control approach to their finances. Members can set up budgets to keep track of category spending over time, and use their data to create custom charts and views. Users can see how on track they are with their goals each time they log on.
You may be thinking that DoughHound doesn’t sound like anything you can’t accomplish with a home spreadsheet program, and for the most part you’re right. But the major advantage of DoughHound over those kinds of programs is that you need not be bothered setting up complicated formulas. You can just focus on what you’re spending, what you’re spending it on, and whether or not it’s in line with your goals.
For those interested in trying DoughHound, the good news is that it’s free. The site charges nothing for use, keeps your data private, and links to no outside accounts. It will accept advertisers, but has no intention to ever charge for its service. You can delete your data at any time. You can have one account per email address. The site also comes with a tutorial to use to get started.
For anyone interested in tracking other numbers, you can do that too. As Dough Hound boasts on their FAQ, you can use their tool to track calories or finances for a special project. You can also enable Dough Hound to accept direct emails of data, making it easy to add new spending information to your account at any time.
Regardless of whether or not you’re sold on DoughHound, or any other personal finance-tracking site, it’s important to take an occasional look at the total picture of your finances. It’s good to sit down and take a look at your goals, your spending, and how they align.
Are you fully funding your retirement accounts? Saving enough for your child’s education? The next vacation? The time off to write your novel? What about your next car? Are their any parts of the budget you could trim down? It’s best to ask yourself these questions frequently. That way, you always know your spending is aimed square at your goals.