Mint.com video embedded via YouTube
Whether you’re creating a personal budget for the first time or are a seasoned pro, here’s one tool you should definitely check out:
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| Photo Credit: Mint.com |
Both Canadians and Americans can take full advantage of what this site has to offer. And it’s FREE! In summary, Mint.com pulls spending information from your various bank accounts, investments and loans to give you a complete picture of where you stand financially.
The online portal uses the same level of security that banks use for their online banking. Your banking cannot be altered by you or anyone at Mint.com: the program simply reads your statements so as to compile and present information for you about your personal finances.
Things that Mint.com is capable of:
- Illustrating your actual spending each month by category (eg. housing, groceries, restaurants, clothing etc) via visual diagrams
- Helping you to set both monthly and annual budgets
- The program is “smart” and can identify which purchases fall under which categories. You can also manually assign purchases to categories as needed
- Monitoring each budget line and letting you know if you’re getting close to exceeding your set amount
- Showing you up-to-date information re: your budget on the go via the Mint.com phone apps
- Recommend credit cards and investments that would appear to provide you with a high rate of return based on patterns in your spending
Again, signing up for Mint.com is totally free. My understanding is that Mint.com profits when people act on one of the recommendations made to them as a result of participating in the website. For example, if you were to sign up for a recommended credit card, Mint.com receives a commission from the credit card company.
This website is so helpful. Not only does it give you a complete picture of where you stand financially, but it can help you make the best in-the-moment decisions possible eg. "should I buy this pair of shoes or not?" If you tend to buy things on impulse and benefit from having a friend around to remind you to save... this program + phone app can be there for you 24/7!
This website is so helpful. Not only does it give you a complete picture of where you stand financially, but it can help you make the best in-the-moment decisions possible eg. "should I buy this pair of shoes or not?" If you tend to buy things on impulse and benefit from having a friend around to remind you to save... this program + phone app can be there for you 24/7!
For more information on Mint.com, check out their amazing website here. For information specific to Canadians, check out this page for all of the details.
Try it. It makes monitoring your personal budget a piece of cake! Enjoy!
If you try it out, tell us what you think! Did you find it helpful?
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