Mint.com - Finance Managing Tool

I've been experiencing some rough times recently when it comes to my financial situation. I'm currently interning in Raleigh, NC where my home is 3 hours away in VA and I have very little money to survive off of. This is my first time really living independently. Yes, in college no one is taking care of me, but food is provided by the cafeteria, I don't own or need a vehicle, and the only major expense I have right now are my monthly phone bills. Unfortunately, now I find myself needing a vehicle, including food expenses into my daily life, and paying my monthly phone bills on top of that. I wasn't prepared for this.

So this morning, as I was browsing my T-mobile MyTouch [brought to me by Google Android], when I discovered this application called Mint.com. I've seen these type of finance applications before, but considering my current financial status, I decided to check it out.

Before I downloaded the mobile application, I visited the mint.com website. I was impressed, but what really got me excited was when I saw that it would be synchronized with my online banking [mine happens to be Wachovia]. YES!!! just what I needed, because I need to be able to monitor my spending where ever I go. This application will give me a more accurate awareness of my current financial status. Now I can make better financial decisions.

Immediately, I signed up for an account. After looking at what mint.com has to offer, I knew that I would be saving money in no time. This site has many features which include:

1. The Overview Tab: This tab is exactly what it sounds like, an overview of your financial status. It gives you account balances, alerts, monthly budget, creditcard info, loans, goals[#4], ect. Pretty much everything is summarized on this tab.

2. The Transactions Tab: This displays all of your recent transactions. What you purchased, when you purchased it, where you purchased it, how much it cost.

3. The Budget Tab: This feature serves as "Mint's Planning Tool". It automatically calculates a budget based off of your spending behavior; however, it is customizable. I kept everything as is, but I did included my monthly mobile bill. Your budget is divided into food, clothes, entertainment, bills, ect. And even those things can be subdivided. Take food for instance, which can be subdivided into coffee shops, alcohol&bars, groceries, and fast food.

4. The Goals Tab: This happens to be a new feature on the website. You are able to set a goal for something you'd like to puchase in the future. Take me for example, I set my goal to purchase a 2006 Ford Mustang car and the date of when I'd like to purchase it. AND THAT'S ALL! Mix.com does everything else. Instantly it provided me with the Kelly Bluebook value of the vehicle, information about buying a car, and even asks you the monthly payments you'd like to make.

5. The Trends Tab: This is pretty neat:) So let's say I want to evaluate my expenditures and spending habits for the month. Well I can either look at Transactions which provides me a list of data. Buuut, if I go to the trends tab, I can focus in on grouped data to see specifc spending behaviors I may want to change. This feature allows you to look at pie charts and bar graphs to analyze your trends. This will most certainly be a frequent feature I'll be using to help me make better decisions.

6. The Investments Tab: At this point in time I will not be using this feature because I don't have any investments...lol. After reviewing this tab, it appears it allows you to track your investment progress whether it be your retirement plans, benefits, and stock investments.

7. The Ways to save Tab: Offers useful tools to budget monthly expenditures, paying off your credit card debts, providing specials and reward information for savings, and suggesting the best credit card company for you.

An addition to everything, it is safe, secure, and easy to use. Mint.com is certified by VeriSign, Truste, and McAffee secure.

You don't have to worry about your financial information getting into the wrong hands. There are also privacy & safety statements included at the bottom for reassurance.

With the bold and vibrant scheme and layout, users are able to navigate with ease. This user friendly website is interactive and engaging, making finance managing fun and exciting. By using colorful visuals such as charts and graphs, the user receives clarity, understanding, and an improved sense of his/her financial status.

You should try it!