Monday, August 5, 2013

Personal Finance Manager: A Review of "Mint"

This is supposedly a mint leaf.

Read this if: 


1) You want a way to keep track of all of your credit cards, bank accounts, brokerage accounts, etc. 

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When I say "personal finance manager," I wish I was talking about me because I would love to do that for people, but I am actually referring to software. There has been a lot of personal software developed that takes information from all your different accounts and funnels them to the same place. There are a bunch of them out there, including: Mint, Manilla, Personal Capital, Quicken. I've only played with Mint, and I still haven't explored all of its features. 


Pros

I'm really lazy, so it got to be a bit tedious going to each individual website when I wanted to see how much I had in my accounts. Using Mint, I have a great, streamlined view of every financial number including: how much I have in each account, what I owe, when my bills are due, etc. Please note that Mint does not actually have access to my money, it can just access the information. 

Cons 

Viewing numbers is the only thing I use Mint for. There are actually tons of other features that I don't care about (there are graphs and categories and some other stuff that I don't find useful). Mint.com also has a lot of advertisements for loans and other services, which they put under a section titled "Ways to Save," which is kind of misleading. 

Verdict

I will keep using Mint.com because I like having an updated view of all my money at all times, no matter what institution they're at. 

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Plan of Action: 

1) If you have several accounts that you want to keep tabs on, try one of these personal finance managers! 

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Do you think this software would be useful for you? Let me know in the comments. 

As always, contact me with questions or suggestions! You can either comment directly on the post or send me an email to moneymattersjoan@gmail.com. 

photo credit: Darwin Bell via photopin cc

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