Mint.com is a website dedicated to help you budget and manage your money. I’ve been using it since 2009, and here are 9 wonderful reasons why the site is awesome, and 1 reason it’s not.
Identity theft is real, and it happens to a lot of families. Mint has a strong reputation for security because the parent company, Intuit, also makes TurboTax, Quicken, and QuickBooks.
When a transaction posts to an online banking account, Mint can know about. Story time: One day around 4:00pm, I was checking Mint and there were two purchases that seemed odd. I immediately texted my wife to ask her about it. It turns out she had to run an errand for work, and her boss would be reimbursing her later. Mint helped me catch an unusual transaction before Visa did.
3. Complete Picture
You can have every type of financial account tied to Mint. If your bank has online banking, you’ll be good to go. Examples include:
- Car loans
- Student loans
- Credit cards
- And more!
Need I say more?
5. Customer Service
As banks update their systems, the link between Mint and your accounts might have problems. The good news is that Mint’s customer support has always fixed my issues. Keep in mind that this is a free site, so it might take some time to solve the problem.
6. Goal Setting
If you want to save up for a down payment on a house or pay cash for a car, you can set these goals in Mint. The site automatically puts that amount in your budget and does all the math for you.
7. Trend Page
*Nerd alert* I love the Trends tab of Mint. You can see where every penny has gone in every way imaginable. Pie charts, bar charts, net income, assets, debts, and net worth. This can all be categorized over time, by category, by merchant, by tag, by type, or by account. And the best part: It can all be exported to a CSV file!
8. Mobile App
The free app works great for quick updates and keeping track of spending. Don’t expect the app to replace the full website. Use the website for your monthly budget and review, and the app can be used to check your budget before you walk into a store.
9. Email Alerts
Mint is great about warning you about low account balances, going over budget, or upcoming bills. You can add a second email address that only receives emails and doesn’t have access to the account. Idea: When you go over budget, have Mint send an update to your financial coach, your parents, or Facebook (check out ifttt.com). Automatic accountability will definitely keep you honest.
X Investment Tracking
Mint has a long way to go before it’s good at tracking your investments or retirement accounts. It’s great at telling you how much money is in the account and what you’ve invested in, but don’t expect to do much investment strategy with Mint.