Mint Review



Mint.com - From the Makers of TurboTaxManaging your finances is never easy, there’s so much to think about, grocery shopping, credit card bills, utility bills, rent or mortgage repayments and that’s before we get to managing any personal loans you might have.

It’s not surprising then many companies have launched software specifically tailored to managing home finances. A lot of these companies are fairly small and their software is not great.

But when accounting software giant Intuit bought Mint.com the market leader in accounting software specifically tailored to managing home finances, we thought we’d better take a look.

What is Mint?

Mint was created back in 2005 by computer sciences graduate Aaron Patzer, he created the software after a tedious afternoon completing his credit card reconciliation. Surely there’s a better way he thought and mint.com was born.

He immediately recognized that the biggest users of the software were going to be housewives, most of who have little to no experience using computers.

To that end he knew the software would have to be totally intuitive and easy to use. If software is complicated people won’t use it no matter how useful it is or how much time it could save.

Mint utilizes patent pending technology that automatically identifies and organizes transactions made in virtually any bank, credit, investment, brokerage or retirement account and also uses a proprietary search algorithm that finds savings opportunities unique to each user.

This means the software automatically searches the top providers to help you find a better deal than the one you’re currently getting for credit cards, personal loans, investment accounts and even groceries.

But the absolute best thing about Mint is that it’s absolutely free. Mint.com makes their money by receiving commissions from all the financial services products they recommend. This means they can keep the software free to all users regardless of whether you sign-up for new services or not.

How does it Work?

Mint-WebsiteUsing Mint is easy, once you open an account you’ll need to set up all your bank accounts, credit cards, loans, investment accounts and savings accounts into the system. This is the most time consuming part but Mint makes it easy.

You can select all your accounts from the drop down lists provided, all you then need to do is enter your online banking details to connect your online accounts to your Mint account.

Don’t worry your information is safe, Mint use the same 256bit encryption that your bank uses to keep your data secure. Also Mint can only read the information it can’t actually write to it, so no one can log into your Mint account and withdraw any money.

Once you’ve set-up all your accounts, you’ll immediately get a clear picture of your finances. You’ll quickly be able to see what’s going out and what’s coming in.

It also enables you to group purchases by category, so you can see at a glance how much you spend on going out each month or what you spend on travel.

But that’s not all, Mint also give you recommendations on how you could save money. So they might recommend a credit card that has a lower rate of interest or a savings account with a higher rate of interest.

This information, if you act on it can literally save you hundreds or even thousands of dollars a year. And you can relax knowing you’re getting the best deal possible.

Is it worth it?

Most definitely, all households no matter what size they are need to keep track of their expenses and Mint is by far the best solution for doing that. It goes way beyond standard home accounting software, recommending products when necessary and reconciling your information automatically.

Every time you log in your information is updated so there’s no need to make entries each time you use your credit card or make a withdrawal, it’s all done for you.

You can then use it to keep track of your spending on things like groceries and utility bills.

Are you always forgetting to pay the electric bill? Not to worry, Mint can keep track of this too, sending you timely reminders by email or text.

Best of all you get all this functionality for FREE. I use Mint and you should too.

Click here to sign up for very own FREE Mint.com account.




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