Mint.com

From ElateWiki

Contents

Introduction

Mint-quicken.jpg


Do you need a free financial consultant to help you to manage your account for living? Do you want to save more money in this economic downturn? Your financial fitness starts with Mint.

What is Mint.com?

Pig.jpg

Mint.com is a free web-based personal financial management service for the US and Canada created by entrepreneur Aaron Patzer. Mint's primary service allows users to track bank, credit card, investment, and loan transactions and balances through a single user interface. The site lists categorized transactions, shows you where you're spending your money, and displays the value and allocation of your investments. It even compares your portfolio to major indexes.

The service is also now beta testing a new Financial Fitness feature, so you can not only track your finances, but also use the feature's tasks and suggestions to improve your financial well being. Mint.com learns from you, alerts you to potential problems, and suggests ways to save money on your financial products.If you need help with more of a personal touch, Mint.com also has a customer community platform powered by GetSatisfaction.com. The new integration gives users a straightforward way to interact with each other, ask questions of Mint.com staff, and provide feedback on their user experience. To access the new feature, you'll see a form where you can ask a question or provide feedback. You can also search for topics that interest you or browse popular topics to see what other Mint users are talking about.

Now, Mint.com can connect with more than 16,000 US financial institutions and supports more than 17 million individual financial accounts. As of April 2010, Mint has more than three million users.

Reasons to use

CVG 6-reasons-to-use-us.jpg

1) It is very simple to set-up, all accounts are automatically updated, provides up-to-date information.

2) It is FREE!

3) Mint.com focuses on data security, and provides read-only data meaning that the site does not provide any banking transactions (can't move money around).

4) Mint.com provides alerting service that you can customize.

5) Mint.com provides budgeting, investing, and saving advice.

6) Mint.com lets you see spending in graphical form for easy analysis.

I'm out of league here. Too much brain power on diplsay!

History of Mint.Com

Founder.jpg

Mint was founded by Aaron Patzer who has Masters degrees in Computer Science and Engineering from Princeton and Duke. His idea developed in 2005, when he decided to work on his personal budget. He was in for an afternoon of tedious accounting-type work: poring over his statements, filling in gaps in entries, and categorizing dozens of purchases and all the effort just to get the answer to one, seemingly simple question: How much did I spend this month? And on what? After a couple of hours, he started to wonder if there wasn’t a better way. So instead of finishing his update that day, he began thinking about building the future Mint.com.

After nearly two years of development, the public beta of Mint.com was launched in September 2007. It was launched into the stratosphere of popularity after winning the TechCrunch50 (a conference for startups to pitch their new ideas/products).

On November 2, 2009, Intuit, the makers of Quicken and TurboTax, completed their acquisition of Mint.com. On April 19, 2010, Mint.com announced expansion in its reach to connect securely and to download transactions from virtually every bank, credit union and credit card account in the United States with online banking capability.

How to Use Mint.com

In this video the CEO of mint.com walks you through how to setup an account and how to use mint.com's tools.

Features & Capabilities of Mint.com

There are many money-related tools that Mint.com provides to its users. Budgeting is an important tool for every user. Mint pulls together all of your spending into one place, with automatic categorization and helpful charts.

Budget Planning

• get the insight of knowing where you money stands in less than 5 minutes as Mint collects, categorizes and analyzes your spending • Mint can help you cut back your spending by showing you where all of your money is going • Mint can help you make a plan comparing spending with others in your neighborhood to make sure you stay on track • Mint can help you track your progress through email or text notifications

Creating a Budget

• Mint can help you know what you've spent by creating pie charts that break down your spending into categories • With Mint's budgeting tools you can see right away where your money is being spent

Tracking a Budget

• You can evaulate your progress every month, Mint automatically tracks and categorizes your spending and compares this to your targets

  • Other Features
Transaction.jpg

Transactions – You can drill down into each of your transactions and see how much you were charged, the date, and the description. Mint will automatically assign an income or expense category. The program is pretty good about getting this categorization right. But there are some items you may need to manually correct.

Trend.jpg

Trends – This is where your graphs and charts are. The categories you assign to your spending drives this cool feature. Fun to look at and really will give you and idea of your habits and areas for improvements.

Transaction (1).jpg


Investments – This is basically a drill down into your investment accounts. With online access to your accounts, Mint is able to determine which funds you are invested in. They display all sorts of information including your performance, value, allocation, and comparisons to the market.

Save.jpg


Ways to Save – One of the unique features of Mint is their suggestion tool under the Ways to Save tab. This is essentially how Mint makes a bit of their money. The refer you to products that will give you a better savings rate, lower fees, or lower interest rates on debt.

Mint.com is beneficial for both personal and business uses. This site will allow start-up companies to budget and analyze their business transactions. It is a good place for new business owners to receive an education on basic financial concepts. Whether being used for personal or business needs, users will find Mint.com helpful and educational.

Mint.com On-the-Go

Iphone3g pair.jpg

One convenient feature of Mint.com is its On-the-Go capabilities. With Mint.com, you are able to track, budget, and manage your finances anytime, anywhere.

Mint.com for Smartphones

A Mint.com App is available for free on Android phones and the Apple iPhones. The app has up-to-date information for financial decision making. There is a simple search function that allows you to search for transactions, and you can house recent transactions in an easy to locate folder. To protect your financial information, the app is password protected.

Mint.com Videos, Documents

See Also

Mint.com

References

"Mint.com." PCmag.com. Web. 5 Dec 2010. <http://www.pcmag.com/article2/0,2817,2344432,00.asp

Yakal, Kathy. "mint.com." PCmag.com.Web. 5 Dec 2010. <http://www.pcmag.com/article2/0,2817,2344432,00.asp

"Mint.com." Wikipedia. Web. 5 Dec 2010. <http://en.wikipedia.org/wiki/Mint.com>.

"History." Mint.com. Web. 5 Dec 2010. <http://www.mint.com/history/>.

"Mint.com review." Personal Finance Software Review. Web. 5 Dec 2010. <http://personalfinancesoftwarereviews.com/mint/>.

"How I Use Mint.com to Know Where My Money Is." PTmoney.com.Web. 5 Dec 2010. <http://ptmoney.com/how-i-use-mint-com-to-know-where-my-money-is/>.