App of the Week: Mint

I have a love-hate relationship with this app. I love it because it keeps me in check, financially, and I also hate it for the same reason.

Whaaaa?

Let me explain.

Mint

LOVE.

Mint is a budgeting app. It is a personal finance product created by the same company that owns Turbotax and Quickbooks — Intuit. You can set up as many budgets and connect as many accounts to it as you like. In fact, it works better for you when you’ve got all of your banking info — both your assets and your liabilities — connected to it.

LOVE-HATE.

Use it to create short and long-term financial goals. It will remind you of upcoming bills and notify you when you’re reaching — or, um, have surpassed — a specific budget. It will even notify you when you’ve gotten paid (you know, if you typically forget those types of things…) or if there are any unusual account changes.

Getting a snapshot of your finances is also pretty easy. You can break-down your expenses into categories and sub-categories and you can visually see where your money is going (I really gotta lay off the Starbucks…and Sephora, for instance).

Mint will even give you personalized financial tips.

LOVE.

For security, Mint is top-notch as it uses the same set-up that banks have (much to their dismay). Best of all, Mint is absolutely free!

LOVE-HATE.

Mint is especially great for those of us with financial products from different institutions. If you’ve got savings and chequing accounts in one bank but loans and credit cards from another and investments and, say, a mortgage from yet another institution — Mint keeps them all organized in one place.

LOVE.

Mint recently introduced another handy feature: Bill Pay. One place where you can set up all of your bill reminders, tracking and yes — even payments:

Do you or would you use Mint? If not, why not?

 

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