Which Financial-Planning Web Site Is Best for You?

We used to be so carefree with our money; now we watch every dime. In the past two years, 2 million Americans have started playing accountant with a new breed of Web site that offers a complete view of your finances. These free sites track expenses by category so you can see how much you spend. They also set budgets, create account alerts and monitor your cash flow. But in all, there are more than 20 such sites, they look alike, and their goofy names (Geezeo, Mint, Yodlee) don’t explain what sets them apart. We set up accounts to test a bunch of the most comprehensive sites and picked three winners.

If you want advice and support, Wesabe.com offers plenty. The site encourages users to pool their wisdom, and it works. When we posted questions about building credit and buying a car, Wesabe members gave eight helpful, accurate responses within 24 hours. One downside: Most sites automatically categorize your transactions to help you track your spending. Wesabe does this only after you manually categorize months of them. Marketing VP Gabriel Griego says this yields more accurate results.

The site offers habitual check bouncers a simple tool for keeping themselves in line. Based on an automated analysis of previous transactions, it forecasts cash flow over the next two pay periods. It might calculate, for example, that you have $3,800 in upcoming bills and $4,500 in your account until your next paycheck. A chart displays upcoming transactions, and an alert system warns if you’re living beyond your means. Of course, this tool works best if you have a regular income and recurring bills.

Mint was acquired last month by Intuit (INTU), the parent company that owns Quicken. For now, the service remains one for folks who value insight over advice. It offers the most detailed, informative and — trust us — fascinating view of your finances. The investment tools compare how individual accounts or an entire portfolio performs against major indexes. But the cool factor is in the site’s analytic tools. You can see how to reduce interest payments on loans or look at your spending habits versus those of others’. We learned, for instance, that in the first six months of the year, we spent $1,610 on dining out (less than the average New Yorker), including $766 on 101 visits to the employee cafeteria. Who knew?