Payoff, a new social financial planning service launching today, wants to make it easy to set goals for your business, loans, or personal spending habits.Think of it as Mint.com with a little Facebook and Foursquare thrown in.
With Payoff, you can set financial goals for yourself such as paying off a credit card or saving money to start a new business and create a roadmap to reach them. You’ll earn badges along the way to help track your progress.
Badges are overused on social networks at this point, but Payoff makes them worth your while by offering random cash awards along with them.
We recently sat down with Payoff founder and CEO Scott Saunders for a demo of the service. It’s well-designed and intuitive. Anyone can sign up and get started right away no matter how financially-savvy they are.
You can also easily and securely import your financial information such as credit card balances, checking accounts, and savings accounts to track your spending habits and keep you honest in achieving your goals.
But we think Payoff could really stand apart from Mint.com with its social features. Right now, you can create a profile and share your progress with your friends on Facebook and Twitter, but we hope the feature expands to allow users to share financial advice with each other.
If you’re looking for an alternative to Mint.com, or want to start a new financial goal for your business, give Payoff a shot. It’s free, and requires almost no financial expertise to use.