Saturday, January 16, 2010
Switching to Mint.com
I've been using quicken for more than 10 years to do a so-so job of managing our finances. I've moved over to Quicken.com a couple of years ago, but thought it was a bit weak for what I needed, since I couldn't break out transactions or do much with budgets. On either the thick client or quicken.com, I never really used their investment capabilities. I'd tried mint.com, but just wasn't that trusting at the time of mint as a startup, giving it all of this personal data.
A few months a go, Quicken (Intuit) bought mint.com. It's basically quicken.com, but done well. It will connect to all of your accounts (mortgages, car loans, bank accounts, credit cards) and pull all of the information together in one place. It categorizes your transactions based on how you want them categorized, but also looks at how others categorize the data. It will look at your spending and track it against a budget and offer savings areas, for instance a cheaper movie rental deal for blockbuster if you're a netflix customer.
Even more, it will take all of your investment information real-time and put it into one place. Between stock options, IRAs and 401ks, I've got investment stuff sitting all over the place and it's tough to track, other than using google finance to give me a rough feel. Mint gives me the ability to look at one place and see everything real time.
It also has an iPhone app and can do all sorts of SMS notifications based on budget or account thresholds. So far, I like it. Anyone else using this?