Have you heard of Mint? It is online financial planner software that helps you keep track of all your financial accounts. The financial accounts can be anything from an IRA to a car loan to checking accounts. Mint.com also helps you reach financial goals whether it’s saving for a car or reducing your debt.
I used Mint.com for about 3-4 months, and this is what I thought:
Things I liked:
- Mint.com is like a big dashboard for you to see your entire financial profile on one screen.
- It helps you keep develop and keep track of your financial goals.
- Easy to use
- The graphics and pie charts are great visual representations of your finances. They give you an idea of where you may be doing well or where you may need to improve.
- Reminds you of bill payment due dates via email. This is great if you have bills due on multiple days of the month (Like most of us!)
- Alert you of finance charges and late fees. This feature gives you an idea of how much you’re spending in fees that you could potentially avoid
Things I didn’t like:
- It was separate from all of the financial institutions we were involved in so we were required to provide the logins and passwords for all of our different accounts. This made me extremely uneasy in the case there was a security breach.
- The accounts did not always update automatically so just about every time I logged in, I had to enter my passwords again for some of the accounts.
- You can only have one goal per bank account –This makes sense but if you are using one savings account for multiple goals, it makes it difficult; particularly for more short term goals like saving for vacation
- There were some purchases that were not included in the budget which would throw it off – especially if you wrote checks
To summarize, there were more things that I didn’t like, specifically giving the account name and password. I felt that it wasn’t for me, however, I do think the concept is great and is a good option for personal finance software! If you have used mint.com what was your experience like?
Disclaimer: Please use this review at your own discretion. You are reading this product review at your own risk. This is a personal blog, and this product review is my personal opinion that has not been influenced by anyone including anyone who represents http://www.mint.com. I was not compensated for this review.