I use Mint.com to plan and track my financial accounts, set goals and budgets and get a one-stop view of my financial life.Why Mint.com?
- Free: Its free! Who doesnt like free? So now you will ask me what the catch is, since there is no such thing as free lunch, right? Right. The catch is that they make money off of ads. You will see loan offers, offers to reduce your mortgage rate, credit card offers etc. when you are logged into your account. I have never received email spam from them though, which is great. I actually sometimes welcome these offers to see what companies are willing to offer me based on my net worth.
- One big picture: Mint lets you track all your accounts (bank, brokerage, investment, retirement) all in one place. You are able to view all activities and the current state of the account from one place.
- Budgeting: Mint starts with an automatic budget based on your past activity and lets you customize it. It warns you if you exceed your budget for a particular category in any given month. Keeps my Starbucks visits in check ;).
- Goal setting: Mint lets you set goals and define what accounts contribute towards your goals. It tells you if you are on track, behind or ahead so far.
- Due date warning: Mint shows you a due date warning for your accounts few days in advance, so you dont miss a payment. Better than setting alerts in your individual accounts, if at all possible, that is.