Bundle tracks others' spending habits.
By Citi February 26, 2010 10:35 AMSingle, 36- to 49-year-olds in Dallas spend $57 per month on hobbies. Who knew?
Anyone might now, with the launch of personal finance site BundleSM, removing the veil of secrecy from how other people save and spend their money.
Bundle, of which we at Citi are proud to be an investor and strategic partner, boasts one of the most extensive collections of free consumer spending data on the Web. This allows users to measure their own activity against others just like them.
Using a comparison tool called Everybody's MoneySM, Bundle tackles the question: what's normal? Users simply input demographic details to see how others their age - in their city or around the country - at their income level allocate their funds. Users can add personal anecdotes or insights to this data, then share it over Twitter, Facebook or email. The site also has discussion threads and quizzes to help users better understand their financial behavior.
According to Bundle's founder and CEO, former Citigroup executive vice president Jaidev Shergill, being privy to the financial habits of others helps guide a person's own activity. Given the traditionally hush-hush nature of personal finance, he developed Bundle to change the way people approach their finances altogether.
Have you tried Bundle? What do you think?
*Tagged as: innovation