How Buxfer Approaches Money-Management

Buxfer may be a little difficult to categorise and review. This software as a service solution was originally set up to help college roommates – notorious for being perhaps not the most ardent when it comes to money management – to keep on top of shared expenses and so on. It does seem to be a little slanted toward social expenditure sharing with reference to “IOUs” as a category. Fundamentally, however, it is meant to be an alternative to the sector leading Mint software solution, although there’s a fair amount of uncertainty surrounding Buxfer within social media environments and generally on the Net, these days.

Apparently, two of its founders have left to pursue other alternatives and this may have left the future of the organisation in question according to a number of discussion boards, blogs and other reviewers online. Nevertheless, the organisation still maintains an excellent website where you are prompted to sign up for free or to take a test run using a live demo in order to see whether it’s for you. Unlike some other “Web 2.0″ properties in the money management sphere, Buxfer is refreshingly straightforward and uncluttered in terms of its overall, aesthetic appeal.

Setting up accounts is fairly easy and you can either manually enter your transactions or have them automatically synchronised, which is one of the premiere elements of functionality for online financial tools these days. Setting up budgets is another account screen and you will of course want to set up access to your mobile phone so that you can track your finances on the go.

If, like most people these days you have a Facebook account, you can sign up for Buxfer using those login details. For many people, it’s good to know that they don’t have to remember a new set of login particulars. Talking about usernames and passwords, unlike rival solution Mint, Buxfer has options when it comes to the storage of your online banking usernames and passwords on their server. This may be a more palatable solution for you. Whilst you may not want to manually enter your credentials each and every time you login, you might still choose to store these credentials off-line using something like Google Gears. Firefox, the Web browser has an add-on called Firebux, which you might like to use. Depending on what particular approach you choose you can either opt to have all your transactions synchronised automatically every night, or each time that you login.

However, functionality and social appeal may be strong selling points, but there are still a large number of question marks surrounding this product within the online communities. A simple Google search will reveal a variety of tales detailing login difficulties, significant delays in receiving support reply e-mails, delays in fixing bugs and one particular case where a considerable amount of data appeared to be lost during a system failure. Hopefully, the originators and the designers are able to address these issues and continue to develop the product as a serious and viable alternative and to put the difficulties of the past behind them.

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