Saturday, February 5, 2011

Online Budgeting Tool That Keeps Your Data Private Try Doughhound.com

Some people are a little worried when using sites like Mint.com because they have to share their personal account numbers and passwords.

Now there is a new site called Doughhound.com that wants to serve these people. The idea behind Doughhound.com is to help consumers monitor their spending without having them enter there account numbers or passwords.

Doughhound.com was created by Daniel and Jillian Tobias. They used to track their budget on a spreadsheet since they could not find an online budgeting site that didn't require them to provide private information.

The way Doughhound.com works is you manually enter your expenses and tag each one with the corresponding category or categories. Which you create yourself. This means users can decide to look only at one area of their spending, and they don’t have to deal with correcting categorizing errors that can crop up on sites that do it automatically

Users can also set up budgets on the site to keep track of how much they are spending in a certain category over a certain time period and create customized charts and views. Each time they visit the site and enter their data, users can see how well they are meeting their budgeting goals.

If you don't want to manually enter the data yourself then Doughhound.com is not for you. A site like Mint.com will suit you better.

So why not just use a spreadsheet? The advantage of Doughhound.com over a spreadsheet or similar software is that you don’t have to deal with complicated spreadsheet formulas, you can more easily share the information online with others and you can provide information via e-mail. Doughhound, which went live recently, will accept advertising and so far has about 100 users.


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