Social Finance

Carolyn Y. Johnson writes for the Boston Globe about social networking sites and how they're beginning to offer financial advice. Johnson notes that "the tools that people use to connect with their peers and share information on websites like Facebook, Del.icio.us, or Wikipedia can help people save money or make smarter purchases." She quotes Wesabe's Jason Knight: "Social finance is a way for consumers to find out if there's real value where they're spending money. . . . It's absolutely critical in rebalancing the power between consumers and marketers."