January is the month when most personal finance writers break out the stories about budgeting, saving and getting back on track.
But the stories are usually heavy on "to-do" and short on "how-to."
That's a shame, because there are so many new tools and resources to get your money life sorted. Most use an intriguing mix of technology and social networking that make it less painful than in the past when you needed pen and paper, a calculator and filing cabinet to straighten out your finances.
It's no surprise that the Web is taking over. Nearly seven in 10 Americans, young and old, have relied on the Web for help with personal economic issues during the recession, according to a Pew Research Center report. The majority of Generations X and Y bank online, and being able to do so is important to them, a Fidelity survey found. So here is a list of helpful Web tools and sites, geared towards the demographic that may have never balanced a checkbook. Baby boomers: If you like the sites though, no one's going to stop you from using them, too.
Like it or not, I know my family spent $188 at McDonalds, $702 on kid clothes and $124 on movies and DVDs in 2009. Thank you Mint.com. Sarcasm aside, I've found the site to be an eye-opener.
Mint.com, which was recently purchased by Intuit, maker of Quicken, and a handful of sites like it, work by linking to your bank accounts and credit cards and downloading the information into a single, easy to use interface. You can analyze how, when and where you spend your money using nifty charts and graphs, and can set up alerts that warn you when you're about to blow your budget or overdraw an account. Most are free.
Test drive sites
I use Mint.com instead of the others because it syncs with my bank, it's been around awhile and, frankly, it would be a monumental task to start over on another site. But I encourage you to test drive a few and see which feels the best.
Many of these sites have other features -- money blogs and tools that compare your spending to that of your peers -- to keep you from seeking your financial advice from someplace else. Visit my blog: www.startribune.com/kablog, where I asked the folks in charge of Greensherpa.com, Mint.com, Thrive.com, Wesabe.com and Zendough.com what sets them apart.
If it's community that you crave, turn to filife.com or lifetuner.org. Both sites were developed as destinations for young adults to find relevant financial information and connect with other users dealing with issues such as college debt or under-earning. At Filife, a partnership between Dow Jones and Internet company IAC, readers can ask questions, contribute stories and use the "stacker" tool to find out how their spending, income and other financial vital info compares to others. We're snoops when it comes to other people's money, so I wouldn't be surprised to see more sites that are heavy on evaluating just how well we're keeping up with the Joneses.
Lifetuner has similar tools. AARP, yes, that association for retired folks, is behind this site that proudly states it's "not here to get you a lower rate, a free credit report, or sell you a thing." It may seem odd that AARP is entering this field, but if you think about it, many of the financial issues retirees face can be avoided or lessened by putting money away for retirement starting that first day on the job.
Finally, blogs
Our generations are not typically the focus of attention for asset-hungry investment firms. But in recent years, a few forward-thinking companies have realized that we will one day be the next group of working millionaires with retirement questions and college educations to plan. The most comprehensive site geared towards Gen X and Y is Charles Schwab's Schwabmoneyandmore.com. But nearly every investment company has a section on getting started or money "to-do" lists by life stage.
If you're thinking that traditional media and websites are so last decade, most of these sites have Facebook pages and Twitter accounts. Some even have YouTube channels and iPhone apps.
Don't forget there are thousands of personal finance blogs to explore. Getrichslowly.org, Iwillteachyoutobe rich.com and thesimpledollar.com are three popular, well-written blogs to peruse. But I encourage you to surf around and find bloggers that speak to your situation.
Most money bloggers are also on Twitter.com. Following a writer via Twitter is a way to get a 140-character taste of the blogger's style and message.
Did I miss your favorite resource? Send it to Kara McGuire kmcguire@startribune.com or call 612-673-7293.
