Mint.com

It would not be right to give all the credit for that intricate and complicated budget I posted in my last post to that notepad, there was a bit more that went into it and the tool I used was Mint.com

Mint.com is, according to their site, a fresh look at finance.

The site is amazing. I signed up with them almost a year ago and I did not use it much because I really did not want to know what my finances looked like but I did go through the motions and added all my accounts. The site has improved so much even just in the last month that I would not have been able to make my budget in a timely manner without it.

Here are some of the key features that I personally love about mint

The overview page

The overview is the page you land on when you first log into Mint. It displays pretty much everything about you financially as far as Mint knows. If you have not added your accounts or budgets then Mint will not know what to show you! The overview page basically shows all your recent financial information and it is updated right when you log in. It shows alerts that you have set up based on each account, your budget and a graph of how well you are doing with it for the current month and it shows any stock portfolio you have added to mint.

Budgeting

Budgeting

The Net Worth Widget

Although technically part of the overview page I think this portion of Mint deserves its own section. It is really helpful and informative. It runs along the side of the overview page from the top to the bottom. It shows all your income, cash, loans, credit cards, and accounts. It also  shows your stock portfolio worth, and any other assets you have such as a home, car or other valuable property you own. This information is all based on your accounts page. Then at the bottom of the widget it shows a summary of all this information sorted by income subtracted by debt, and totalled up for you estimated net worth. Under that the widget also goes into your 6 month cash flow, showing all your Ins and Outs for that 6 months. This is displayed as a bar graph. The widget is invaluable.

The Accounts Page

The Accounts page is very important. It holds all the information that you add about your bank accounts, investment accounts, credit cards, loans, and any of your assets added manually. Mint currently supports over 7,000 financial institutions that it can connect to using your online login username and can pull that data down into Mint so you can use that data for budgeting. The accounts page was recently updated and now it is even easier to use and find your institution.

Adding accounts is easy!

Adding accounts is easy!

There are so many things about Mint that I love, I could create a whole blog just to go over them..oh wait, there is a blog about them!

For anyone that is toying with the idea of getting their personal finance in order, or someone that already has it all out on paper and would like things to be easier, Mint is the place your you. It is so easy to see where all your money is going each month and to plan ahead. The best part is its free and on the web so you can access it from anywhere…they even have an iPhone app.

There are only two things currently in this world that could make me say I want an iPhone ( I am not a fan of Apple products thus far and if you knew me a little better you would see the significance in even positively mentioning iPhone here) and one of those is the Mint.com iPhone app.

UPDATE: 2-18-09

I just wanted to post a quick update to this post as I recieved an email from Mint.com today anouncing some improvements to their site.
They are now actually offering their “Ways to Save” page that previously was only available to members, to the public. Though the site is free to sign up, now you can actually access this page without signing up. On this page, one just has to fill in some brief information about their credit card, savings account or other financial venue and the Ways to Save will generate a list of financial institutions with corresponding offers that will save one money based on the information provided. This is a great service and I am sure many will find it useful, regardless of if they sign up for Mint.com.

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