Wesabe.com shuts down: The future of online money management

Wesabe, one of the first personal finance management tools I wrote about when WalletPop was but a young blog, announced today that after July 31 it would no longer operate the accounts tab of the website. In an announcement posted to Wesabe.com Marc Hedlund, CEO of Wesabe, cited the inability to maintain customer support and security on a shoestring budget.

Hedlund, who was known to contact users directly from time to time to help solve support problems, was able to share one bit of good news; the Wesabe Groups section of the website will remain open indefinitely. The "Groups tab," Hedlund explains, is cheaper to host, and it is a great resource to users who have relied on the community to help them make big financial decisions and offer financial advice specific to their situation.