Mint.com – You got to check this out!
I know mint.com has been around for a while but it has taken me this long to finally take advantage of this awesome resource. I’ve been using Quicken Rental Property for the last couple years to keep track of my rental properties, and more recently, my personal finances. Quicken was okay but always seemed to take forever to enter transactions and further categorize all spending and income, I found myself continuously falling behind in my accounting. As I was just getting started catching up on all my accounts (that I had neglected for almost 2 months) a buddy of mine mentioned mint.com and how great it was.
I had tried once before to sign up on the site but could not get the site to find my particular bank. After my buddy brought it up again I decided to try again- I logged in using the info I used to set up my account before (6 mo ago) and there it was, an intricate overview of almost all my finances. I know I fiddled with it a bit before but I’m still not sure how it was able to update my bank information and transactions all of the sudden.
The key difference with mint.com and other resources (at least that I know of) is that mint.com is able to categorize all of your spending automatically. Now don’t get me wrong, I have to manually change certain transactions from time to time but it’s no biggie – if I get gas at King Soopers the site thinks it’s groceries rather than ‘gas & fuel’, understandable if you ask me.
For the first time ever I can actually see where my money is going! I can finally track my income and spending by category without arduously going through statement after statement. In fact, all I have to do is enter my login information and the site does the rest of the work. No matter where you are with your finances I would recommend giving mint.com a shot, you may be surprised.
Cheers,
Ed Prather
p.s. Let me know your thoughts on mint.com and similar resources.
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