Mint.com – Your Virtual Financial Adviser
Ever want to budget your personal finances but never figured out where to start!? I found Mint.com, a free website and app that tracks your spending habits and categorizes your spending automatically. Mint.com isn’t your run-of-the-mill application, it was created by Intuit, the same company that created TurboTax and Quicken Loans.
Tracks your Account Balances
You can easily link your bank accounts, credit cards, investment accounts, retirement accounts, personal loans, and health savings accounts – really anything that would play a factor in your net worth. By having all your accounts linked, your balances automatically sync with the secure website [or app] to give you a real-time view of your personal financial stance. It is extremely helpful to see a real-time calculation of your net worth.
Allows you to C
reate a Budget by Automatically Categorizing your Spending
Arguably, the best feature about Mint is the budget. The budget is extremely easy to set! All of your spending from your bank accounts and credit cards are automatically categorized into several categories. Each category is totaled and a very generic budget of all monthly spending is automatically created. You can easily alter the category names and budgeted amounts if you anticipate spending more or less for each category. You can also create new categories if you need to add some other items you frequently spend on.
Automatically Calculates Your Net Worth
This was already alluded to, but your net worth is automatically calculated each time you log on. I love being able to see my net worth grow each month! This feature allows me to feel more confident in my methods of accumulating wealth.
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