smart spending

5 ways social networking sites save money

Track spending
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Websites like Tweet What You Spend and Bundle let you track your expenses to save money. Both are free.

At Tweet What You Spend, people use their Twitter accounts to send brief spending messages of recent purchases, such as groceries, to their Web-based cash journal. There, they drag and drop those expenses to spending categories that they create. They can also set spending limits for themselves and share shameful spending habits with others using the website.

Bundle is more voyeuristic. There are more than 250,000 users each month whose expenses and savings can be viewed anonymously. "You can spy on your neighbor and compare spending," says Jaidev Shergill, CEO of Bundle. "You can also trade information."

Data are filtered by age, location, income and household status, and the data are arranged in fun infographics from which you can get more specific information. "Bundle is aggregating information and breaking it down into charts," says Mokey. "You don't have to go up to people on the street. That anonymity is useful."




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