If you’re like Joe and spend money consistently on the most pointless of items (last week he bought porcelain pig figurines because he said they were ‘pretty’) and need a little help managing your spending, Mint.com will quickly become your savior. It offers completely free tools to help you track, visualize, and analyze your spending.
Mint.com offers the following services:
- Tracking of all accounts across all banks and credit card issuers.
- Cash v. debt financial health status.
- Automatic daily updates and on demand updates so you know instantly when money is spent or saved.
- Categories and spending trends will allow you to visually see where your money goes.
- Instant email or SMS updates when bills or due or when spending exceeds a limit set by you.
The beauty of Mint isn’t the free management tools, the up to date information, or the fact that it works with nearly every bank and every credit card. No, it’s that Mint will analyze your spending and make suggestions on how you can save money each year. They also track your bank and credit card’s interest rates and offer alternatives that will ultimately save your from wasting unnecessary funds on service and interest charges.
So Long Identity?
Mint.com doesn’t magically have access to your bank accounts once you give them your email address. You need to first be enrolled in web banking, then you have to provide Mint.com with your user names and passwords. Before you close this review and accuse us of trying to steal your identity, Mint.com stores absolutely no personal data. Your user name and password is transferred from Mint.com to your bank using bank-level data security and SSL 128-bit encryption. If that doesn’t mean anything to you, does guaranteed security sound a little better?
What’s the catch?
No catch, at all. Honestly. It’s completely free due to the affiliate commissions Mint makes through their suggestions on how to save money. You save money while Mint.com makes money. Everyone is happy including Mrs. Joe now that Joe will stop spending money on junk he doesn’t need.