After using mint.com for several months now I am thoroughly impressed. I figured it would be complicated to setup, but I couldn’t have been more wrong. Virtually any account that you have a username and password to log into online is already setup in their system. You login to all of your accounts through their secure system, it downloads all available transaction data and gives you a detailed read out – automatically categorizing each transaction. Some transactions are occasionally mis-labeled, or you may want to label them differently; no problem, just a couple clicks and you can change the one transaction, or that transaction and every other one from the same store.
I currently have my Chase bank, Paypal, Upromise, US Bank, American Express, Capital One, Bank of America, Citibank, and Toyota Financial accounts all imported. It gives me a total of how much cash I have, how much credit card card debt, and how much loan debt. It’s really nice to have a quick snapshot that is updated daily. Highly recommended!
About Mint.com
Mint’s primary service allows for users to track bank, credit card, investment, and loan transactions and balances through a single user interface. Users also have the option to manually enter cash or check transactions. Mint connects securely and has been verified by Verisign and TrustE to download transactions from virtually every bank, credit union and credit card account in the United States with Internet banking capability.
But what can it do for me?
1. Mint will connect securely to your bank electronically.
2. Your purchases are automatically categorized for you! Ie, groceries, toiletries, entertainment, etc. This is incredibly helpful in tracking exactly how much you are spending and where. They also offer pie charts for those of us who need a visual.
3. With Mint you can also track all of your investment income and see how well (or not so well) you’re doing. Knowledge is key!
4. Mint will communicate with you (you set the perimeters) via text, email, etc. and keep you up to date on any account changes, low balances, and any possible fraudulent activity.
5. The best part is that you use Mint.com completely anonymously. You never enter a Social Security number or even your name!
Have you used Mint.com, please share your experience in thecomments – let’s help each other out!
If you’re ready to register (or just peak around) head on over to Mint.com!
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I love mint.com!!! I am terrible about knowing what I spend and where. Mint has really helped me to see where I need to cut back and has made quite a positive impact on my financial situation!! A must use website for the present economy. Everyone can benefit!
Thank you so much for your review. I was a little concerned about how safe this, but your explanation makes me feel much better. It sounds like this will be great for our son who is starting out with his first job and lots of student loan debt.
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