I have had the pleasure of using Mint.com for about a month now and it really has it’s benefits. First of all it’s a really simple site and application to use. There is a iphone, ipad and android version app as well. Some of the featured Mint offers is setting budgets to better manage your money. It does this by linking all your accounts together and pulling in the transactions each time you log in. The best part is it adds each transaction to the category it belongs which saves a LOT of time. I would say so far mines been about 98% correct. When it’s not correct it’s a simple fix of clicking a drop down and selecting the correct category. This happens for example if I buy a water from the local gas station. It defaults these transactions to GAS. The other correction is checks. You just have to put them in the right category as well.
Once you have played around with the system you can setup your own budgets. It has a default set of rules in place which can be modified. After you’ve set the budget up it will email you when you’ve gone over or are getting close to the budget limit. Using Mint.com for the first time really puts your spending in perspective. We didn’t realize just now much were spent at McDonald’s on mocha’s in the mornings until using this service. Because of this we forked out a little over $100 for a K-Cup coffee maker which has already saved us HUNDREDS of dollars this month. We also purchased a gas grill instead of eating out all the time. This allowed us to cook our own steaks, chicken or hamburgers for a fraction of the cost when the craving sets in, saving a few times a month for fine dining rather than a few times a week.
Mint also allows you to add property and other items to show what your Net Worth is. It uses Zillow.com for property estimates.
When it’s all said and done I would highly recommend Mint.com to any of my friends. I encourage you to check it out and test drive it. It might just save you some $$$ which is always a good thing 🙂