Tuesday, December 28, 2010

Personal Finance Software for the 21st Century

First, let me say that I'm not affiliated with this company in any way.  These are my unbiased observations of an interesting product/service that I found through the App Store (iPhone).

Mint.com has taken personal finance software to a whole new level.  Since most of us propeller-heads do virtually all of our financial transactions online anyway, Mint has built a product that painlessly integrates most (if not all) of your finances in one place.

Perhaps the best feature is that it updates your transactions automatically, downloading them from your bank, credit card company, mortgage company and more.  When I log in, I get near-real-time information at a glance for all of my asset and liability accounts with virtually no work.

I set this up last weekend, and it took about an hour.  Almost all of my accounts were recognized and connected on the first try.  One notable exception was my car loan with Nissan Financial. For whatever reason, Mint apparently does not have an integration built with them.  Accounts with Chase, BofA, E-Trade, American Express all worked flawlessly.

Another awesome feature is the free iPhone app.  While it understandably doesn't have all of the features of the website, it provides a quick overview of budget, assets, liabilities and cash flow.  It also has alerts to let you know when bills are coming due and notifies you of large transactions in both directions.  You can also view recent transactions in your bank or credit card accounts from the iPhone app.

All told, Mint.com has a great product. The iPhone app sweetens the deal quit a bit for the bean-counter on the go.  One of the few products/services I have found this year that I think I'll still be using through the end of 2011.

Go check 'em out, and let me know if you share my opinion.

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