Why I Use Mint.Com To Monitor My Finances

Why I Use Mint.Com To Monitor My Finances

The mint.com website is a free financial management site run by Intuit, which is the company that produces the popular financial software package Quicken. Obviously nothing is really free in life and users should be prepared for the reality that the ulterior motive of any “free” site is to make money and sell products to customers. However, this does not change the fact that mint.com is a very useful site for a wide variety of financial functions and monitoring.

Tracking mechanism

One of the primary benefits of this site is the ability to track accounts. Users can input their bank accounts, credit cards, loans, assets, and investments. Not all companies are involved, but most of the major players can be accessed. The site stays connected to these accounts and provides individuals with up-to-date balances. Obviously people have to be comfortable giving out financial information of this kind, but managing finances online is increasingly becoming the standard. The site will also alert users through email or smart phone notification when various transactions are posted or statements are ready. This can be particularly helpful for avoiding fraud and knowing when items clear.

Budgeting tools

Another major function of the site is budgeting. Individuals can pick various categories and set budget limits for the month. The site will track transactions from all input accounts and send alerts to the user if categories are exceeded. Some tweaking is required to put transactions in the right categories, but overall the site does a solid job of identifying where various businesses fall in the budgetary scheme. Obviously the site won’t stop people from spending money, but tracking is often the first step towards greater financial discipline. In addition, users can run various reports and see patterns in their spending.

Extra services

As mentioned, the site is designed to provide people with various financial options. This includes different credit cards, loans, insurance, and investment vehicles. The presence of these options are all over the site, but they are no different than banner ads on various websites, and discerning customers can easily pick and choose what they are actually interested in pursuing. Again, this is an understandable part of a company providing relatively free services.

Summary

Online tracking is becoming standard practice and this may be the future of money management as consumers move away from standalone software packages. This site is fairly intuitive and a good way to get a lot of information in a single place. For smart phone users, there is also a mint.com app that can used as a companion to the website.

https://www.mint.com/

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Taking Care of Your Finances in the New Year

Taking Care of Your Finances in the New Year

The New Year is finally here. Out of all the many resolutions floating around finances remain at the top of the list. So, what are some tips you need to remember in order to keep your finances organized and well balanced in the New Year? This article is designed to give you a few pointers.

Taking Care of your Finances in the New Year: Need vs. Want

If we were to comprise a list of the things we “need” we would probably find many things we can do without. This is our first mission, by compiling a list of all of our bills we can eliminate the different “wants” leaving a lot more money to save for the “needs”. Of course, we do all need (once in a while) to spend money frivolously. But it should be planned out and allotted-This will tremendously help your finances and give you that little extra perk.

By deciding what you really need from what you could and should do without, you can save a lot of money. The extra funds can go toward house payments, car payments and credit card debts to improve your credit score. Even if it is only a few extra dollars on top of your minimum payment a month it will significantly improve your Fico. The rest of the money you save should go into a savings account for those emergencies that the new year may hold.

Taking Care of your Finances in the New Year: Emergency Needs

Every year we all face some type of emergency or another. In order to help build our finances in these situations there is something important we can all do. Aflac is a wonderful investment. It has helped my family out tremendously when someone has been injured and could not work. The goal is to keep our finances up and stay out of debt. With a company like this it is easy to build up your bank account when you are physically restricted and unable to earn income.

Other insurances are great to have as well. So, whether it is your home, car, or other expensive purchases you have bought, getting insurance coverage could be a good idea.

Taking Care of your Finances in the New Year: Closing

I hope this first installment has helped in beginning to define basic needs regarding your finances. It is important to always be clear in your choices as to where you spend your money. Because this is a primary concern amongst most families, these guidelines can help you plan out and prepare so that you can find yourself debt free.

Fiance’s and Finances

Fiance’s and Finances

You have finally met the guy or girl of your dreams and you have agreed to marry them. There is so much to do during the engagement period. Where will you live, how will this affect your career, and your family are a few of the things to consider. One important thing that you must not overlook is your financial situations, and how they will affect the approaching marriage. Discussing money makes some people very uncomfortable, but it is necessary. Financial problems are amongst the top reasons that people divorce. If you want your relationship to have a fighting chance, be adults and discuss your business.

You and your fiancé need to set aside a time to have this conversation. Some preparation needs to be put into this. Each should know their current financial situation, and be prepared to discuss it. Neither party should be rushed or tired when you begin this conversation.

Tip #1

Discuss any debts that you have, and you are bring into the marriage. Yes any debt. Do not attempt to hide your debt from your fiancé, that is not a good foundation upon which to build a future on. You should both agree to work to pay off or down any credit card debt you have incurred individually. Experts state it is best not to consolidate student loans when you marry.

Tip# 2

Discuss any assets that you have. Any retirement, trust, 401 K savings, homes, cars, etc. This is an opportunity to begin to see these as mutual assets, and not individual any more.

Tip # 3

You need to learn each others spending and saving habits. If you have dated any period of time, you already have some knowledge in this area. But when you were just dating, it was your prerogative on how you spent or saved your money, now your actions will affect more than yourself. You should work as a couple or devise plans that will satisfy the types of money managers both of you are.

Tip # 4

Be open about any negative financial situations you are currently in or are feeling the repercussions of at this time. If you have filed bankruptcy, have a low credit score, your future life partner deserves to know.

Tip # 5

You need to discuss how you will handle money issues that arise in the future. Will you lend to friends and family? Does you fiancé agree with giving to the needy or less fortunate? Will you tithe, etc? All of these are important questions that need addressing before you say I do.