Mint is a totally free personal finance service that works totally online. With Mint you don’t need to install any software on the local disk and this can be accessed and operated with any browser on laptop or mobile device.
The popularity of mint is ever growing and currently it has already attached around ten million users with it. Mint is a personal financial program that is web-based. Moreover the app is absolutely free to sign up and takes only a few seconds to add new accounts into it. Another astonishing feature offered by mint is that whenever you visit on their site your financial data is automatically updated. Presentation of mint gives you another advantage as it offers a user gracious interface by presenting financial information very nicely with pretty graphs and a totally classic visual experience.
Though the service appears to be more about the glitz than useful functionality, it offers great help for things like financial statement, creating financial goals and aggregating all your financial accounts all at one place. The major piece of attention is the Mint’s dashboard which gives you a quick summary of your personal finances at a glance.
Some of the major features offered by Mint.com are given as follows:
- It provides you with alert of pending bills via sms and helps you to save money on fines.
- It provides you with app support on all the major platforms and all are absolutely free.
- Mint provides you with weekly summaries of finance world via emails.
- Helps you to easily understand where exactly you are spending your money in an easy to understand graphical format.
- Automatically syncs your financial data into Mint (when it works properly).
- View and monitor your credit score, account usage, payment history and errors at a glance.
- Validate your use before logging in by either your email message or cell phone SMS message.
Mint has been applauded heavily since it has released its apps. It received a bevy of accolades and a lot of positive acclaims. Time Magazine has rated Mint as one of the 50 best iPhone apps of 2011, it was also rated as PC Magazine Editors Choice in 2011, and it was featured on CNN Money, The Wall Street Journal, and many other outlets. Another great feature of Mint is that it allows you to sync your debit and credit card with the clouds services so that you can do your account activity spontaneously without much hassle. The best thing about mint is that it tracks all your revenue, expenses, loans and budgets all in one place, simplifying money management.
Another thing of which every user is worried will be putting your finance details on the cloud handing it to someone whom you are not known to but Mint satisfies you on this part by providing you with bank-level security with 128-bit SSL encryption. It verifies all data with VeriSign and TRUSTe. All the data is read-only, so it’s almost impossible to shift money in and out of the accounts. To get the best results out of this app, combine it with a Mint.com account.
Best Features offered by Mint
- Budgeting and monitoring of expenses: The main feature of this app is budgeting. Mint’s primary focus is all on budgeting and tracking expenses and this is where their service really shines. Budgeting which is becoming a sensation is very easy to setup all you need to do is download and sync your transactions then they will get auto-categorized into predefined categories.
- Monitoring credit scores: Recently, mint rolled out a free credit score tracking option this helps you to keep track of your entire finances and gives you a clear picture of the positive and negative sides of your budget. All you need to do is to click on “Show Details” button and with that complete detail of your payment history; credit score, age of credit accounts and lots more will be shown to you. You can also upgrade to a premium version.
Recently mint was taken over by a large financial giant intuit, with the acquisition of Mint by Intuit, it’s obvious that product line will naturally get much quick than before. Also, with back outing of many rivals it has led to increasing value of mint and helping it to create a great position in the financial market
Mint service seems to be more focused on catering to the masses. It’s very strong with budgeting and tracking expenses, but its investing area is simplistic at best. Like most of Mint, it’s much simpler than Intuit’s Quicken and lacks many features.
- Creating and managing goals: Another remarkable feature of mints is the goal tracking feature that helps you to create new goals for example paying off credit card debt or like saving up for a new home, can be very simple to set up and clearly help you to how to decrease your expenditure for achievement of these goals. Thus it enables you to manage your goals also.
- Mint.com comes with very easy to use features but these tools are very fast and powerful too.
- It offers you with Flexible budgeting tool with which experimenting of different scenarios can be done.
- It helps you to send all financial alerts via email and SMS.
- TurboTax is already integrated in turbo tools.
- Free credit score, powered by Equifax (you don’t supply a credit card number to get a score – it is completely free).
- When a bill is due or account balance is low continuous alerts over sms and email are given so that you don’t forget to pay a bill.
- Bank level data security policies for account aggregation.
- The financial reports that your receive are customizable to provide you all the information in form of easy to read graphs and charts like pie charts and bar graphs for quick analysis.
- The investing section is OK not best as other firms such as Personal Capital offers better investment tools.
- To generate reports only one way is there such as exporting a CSV file to a spreadsheet.
- Users cannot reconcile their monthly bank statement.
- You are also not allowed to import any other data from other personal finance application.