A Mint That Doesn’t Cost You A Mint To Use

So far, it’s estimated that more than 6 million users have signed up to try one of the most appealing personal finance products on the Web – Mint. Why is it so appealing to so many people? Could it be that this particular option is absolutely free of charge, for a start? It’s quite rare to find something online that is free and has a good amount of functionality and purpose. With Mint, you might just have found this.

The first question that you might ask is probably related to its cost, or the lack of it. Most people tend to live life by the motto – you get what you pay for, and may not be expecting too much from a software solution that doesn’t appear to charge you in any way. The business model does appear to be related to sponsor and advertiser revenue and if you can live with that – it’s pretty transparent after all – then Mint has quite a lot to offer you.

Essentially, this software as a service pulls all the financial accounts that you might have together to present you with one picture of exactly where you are. You will be able to set a budget for your onward planning and then track your goals. By using direct integration it’s able to talk to all your banks and download the data to enable you to see exactly where you are. You can choose from hundreds of categories, or rename any should you wish. You can add your own categories and Mint will automatically populate and suggest when you try and enter similar transactions.

Many people find it a challenge to really put enough money aside for savings and a lot of this stems from the fact that we’re not always “on top of” what we are spending and what we have left, as a consequence. Wouldn’t it be great if you could have a very simple interface available to you, to show where you are? This is what Mint does very well. Continuing the theme that we really need to be prodded to alert us to our financial behaviour from time to time, the software has more than 20 different types of alert, accordingly. You could be told when fees were being charged, told when you need to pay bills and warned if you’re about to go over budget. If you’re coming close to a low balance situation which would automatically trigger a costly fee for you from one of your banking establishments, you’ll be alerted in time.

In this day and age when financial security is ever more important, Mint will provide you with a push notification directly to your mobile phone if there’s unusual activity on one of your credit cards, or there have been some large purchases elsewhere.

All in all, Mint is a great budgeting and financial management tool to help any small business owner keep up-to-date with their complex monetary affairs. The fact that it’s free is surely icing on the cake.

Are you saving for a rainy day? … what is next on YOUR shopping list – is it an item or an experience?