FI Exec Recommended: Mint – General Finances, Budgeting, and Reporting

We use Mint weekly. You don’t have to use it that frequently, monthly or quarterly is fine. You should consider getting a free account if you:

  • login to more than one financial institution to check balances and transactions on some regular basis
  • use Excel for budget management and spend more than 10 minutes on it a month
  • make a lot of money, spend a lot of money, and have no idea what all that money is buying
  • would like to spend less money, save more money, and make more money
  • worry about identity theft and credit fraud

Visit mint.com to create a free account.

Happy Almost Mint-iversary!

I was just finishing our first ever budget post, and came to the exciting realization that we have a big anniversary coming up in 2018!

February 27, 2018 will be our 10-year anniversary with mint.com! I love her even more today than the day I met her!

Happy Mint users since February 2008!

How the FI Exec Family Uses

General Finance

  • At-a-Glance Account Consolidation
    • Seamless balance, transaction, and bill integration with just about every bank and credit union
    • Long-term storage of financial history
    • High-level views of every account balance (all 136 of ours)
    • High-level views of overall cash, credit, investment, loan, and property balances
    • Quick estimate of family net worth
  • Payment Management
    • Automated alerts of upcoming credit card payments

Budgeting and Expense Management

  • Detailed transaction log
    • Every single transaction from every single account
    • Monitor unexpected charges as possible credit fraud
  • Expense and Income Categorization
    • Software auto-categorizes expenses into the correct category by merchant
    • If auto-category is wrong, simple to change one or multiple categories
    • Learning algorithm gets better over-time to categorize things correctly
  • Custom Categorization
    • Ability to create customer categories for expenses and income to track the way it makes sense to us
  • Budget and Goal Setting
    • Intuitive budget and goal setting interface
    • Create monthly budgets which include as much or as little detail as you want
    • Setup income and savings goals to encourage paying yourself first and financial goal achievement

Reporting

  • Trends
    • Intuitive trends section to be able to view income, expenses, debts, net income, and net worth over time or by categories
    • Simple to click into and out of categories to see as much detail as you want
    • Create just about any view you want
    • Good looking UI and charts
  • History
    • The longer you use mint, and the more you put into it, the better and more useful it is
  • Emails
    • Automated weekly and monthly emails to report on budget progress
  • Intuit integration
    • Owned by Intuit, makers of TurboTax and Itsdeductible

 

 

Shopping by Category from 2012-Feb 2017. Amazon is both a Category and a Merchant…