INNOVATION: Say ‘Hello’ to Yet Another Personal Finance Site — Bundle.com

How much do groceries cost in Dallas? How about the price to bowl in Boston or buy sneakers in Boise?

Bundle.com is intended to answer that for you by pooling spending data from visitors and other sources. It was tough for me to get a real feel for the site, because it seems as though it still has some bugs, but essentially I got the concept. People enter their spending information. That information is supplemented by quarterly data from Citibank (more about Citi below) and from third-party providers. The information is then aggregated and shared with the site’s community.

The site, which went into beta within the last few weeks, has hired some high-profile journalists to help with its content. Mark Armstrong joined Bundle as its director of content. He was previously news director at People.com and associate creative director for McCann/MRM Worldwide, an advertising agency. Bundle also named Janet Paskin is managing editor. She previously covered investing and personal finance topics at both SmartMoney and Money.

Bundle joins sites like Mint, SmartHippo, and Wesabe in the effort to aggregate financial data via social networking to create actionable personal finance information. Overall, these sites are great. They offer real benefits to users. Unfortunately, not all of them will survive. I reached out to Bundle to find out more about its business model, and I still waiting to hear from them, but I noticed that MSN Money, Citibank, and Morningstar are “partners” of the site. In fact, the companies are investors. I would think that they are in it for the leads and branding. Officially, “We have a number of advertisers and corporate partners who have generously sponsored Bundle in its infancy,” says Bundle. “Over time, we’ll continue to build out other sources of revenue.”

It appears as though the company is based in New York.

Click here for a video introduction to Bundle.com.