January 30, 2009

Buxfer – Track Your Money. Effortlessly


In tough economic times, a site like Buxfer could become a phenomenon. Upon first glance users may be worried about the security of accessing sensitive banking accounts in one place but Buxfer currently boasts approximately 6 million transactions with full security. What separates Buxfer from other money management applications is that it is not necessarily aimed at businesses – it’s aimed at everyday people looking to manage their finances. Regardless of your financial situation, understanding where your money goes each month is critical and Buxfer aims to help everyday people manage a healthy budget.

The key to budgeting is knowing your habits and taking action on them. Getting this information down in writing and seeing exactly how you’re spending is important, so at its heart, Buxfer is a budget engine. It is also a place where users can see their accounts consolidated into one place – bank accounts, credit cards, investment accounts, etc.

One of the more impressive features of Buxfer is the ability to pay bills through the site as well. Other budgeting websites only allow users to track bills, not pay them. The site is also mobile-friendly, so users can track expenses on the fly – helping people cut down on impulse buying by making real-time spending information available when you need it.

Practical Uses:

  • Save money and track expenses you make – down to every donut and cup of coffee
  • Engage your spouse into your monthly budgeting process by given him/her access to Buxfer’s web interface
  • Determine if you can afford to make that big purchase by viewing your monthly trend on your mobile phone

Insider Tips:

  • Use the mobile alerts to track how your spending – somewhat like a slap on the hand if you spend too much
  • Track IOU’s, not just expenses. It’s useful not just to track what you’re spending, but what you’re making as well
  • Break down your expenses into different categories to track different expenses
  • Set a budget limit by category to ensure you know the health of your monthly spending habits

What we liked:

  • Easy-to-use tools with intuitive interface
  • Charts and graphs are understandable even by budget-phobic people
  • Spending alerts are very helpful to keep spending in line – beyond just itemizing expenses
  • The ability to enter a single password to access your entire financial dashboard
  • Signing up and using the basic service is completely free

What we didn’t like:

  • Buxfer doesn’t recognize all banks or all accounts, which can make it difficult to consolidate your financial information – these can be entered manually but it’s an extra hassle
  • Buxfer doesn’t handle advanced accounts such as 401(k)’s and investments as well it does with traditional bank accounts and credit cards


Company Info:

  • Launched: February 2008
  • Privately Held
  • Headquarters: Mountain View, CA
  • Founded by: Shashank Pandit
  • Web site:


  • Basic plans are free
  • Paid plans start $1.79/month


  1. Thanks for the link as an alternative, Henry. We’re always glad to be mentioned in any article talking about how people can take control of their finances, particularly since we’re aimed at giving step-by-step advice on how to improve their financial health. Even if the topic is receiving more coverage these days than it has before, it always was important and it always will be: no advisor is perfect and we can’t help anyone unless they give it a try.

    That’s why we’re completely free – we believe help with money can’t ask you to buy it.

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