Oh How We Love Mint.com – Free Online Budget Site

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About three weeks ago Laura and I decided to find a way to better keep ourselves accountable for the money we spend. After taking Crown Ministries (If you have not done this, do it, you’ll love it!) class 18 months ago at Redeemer we tried using an excel spread sheet they provided, but found it to be too much work collecting receipts and sitting down to go type in what we bought and how much in the various speadsheets. So we didn’t keep up with that very long. So I did a few internet searches and found mvelopes, quicken online, Mint.com and wesabe. mvelopes looked great, but wanted about $130 a year so we didn’t even try it. The other three are free so I set up a username on quicken, mint and wesabe to take a look at the various user interfaces. What is great about all of them, and the reason I would recommend you try Mint.com if you need some financial help, is the simplicity of using it. You don’t manually put your purchases in, rather you link it to any credit cards you have as well as bank accounts, loans, etc. and Mint gathers all your transactions for you. Then you simply tell it how you want it to budget things.

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Follow link to read & see more about Mint.com

Quicken and Wesabe were ok, but Mint.com won out because of a great budgeting tool. You can create a budget item for anything you want. Tell it how much for the month or set a budget for something you only pay every three (or any number) of months, like auto insurance. You can then visually see the budget as you spend. Since Mint automatically gets all your transactions (except cash, which you must enter manually) you simply tell it what budget an item go in (it automatically puts it in the most logical one for you). In the future it will guess based on where it is from what budget it goes in.

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Above is an example of what your transactions look like. It puts grocery stores in the Groceries category automatically and then you have the option of changing it if that is not right.

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Buy things at one store that go in more than one budget? No problem, just split the transaction as many times as you need to and put them in the correct budget. You can also add what it was next to the store you bought it at to keep clear later.
Laura and I budget ourselves $25 a month we can spend on anything we want, if we don’t use it all what is left rolls over into our next month. Mint now keeps track of that for us, just by telling it that particular budget rolls over each month.
Closing
Our eyes have been opened this month to how we actually spend our money compared to how we thought we spent our money. It has helped us to be better stewards of the money God has given us. We’ve been more careful of how we spend things. Basically it has turned finance into a video game for us. I highly recommend you check it out. If you have an iTouch or iPhone there is a Mint app for it.

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4 Comments

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4 responses to “Oh How We Love Mint.com – Free Online Budget Site

  1. so this is why Brian lets me pick up all the tabs at Freddy T’s now.

    Yeah, Mint.com sounds real great.

  2. Phil

    Mint is definitely great, I saw there is one other budget site out there not on your list of online budgets to try, http://www.BudgetSimple.com it is free as well, it doesn’t automatically get expenses, but that means it also isn’t logging into your bank account!

  3. Woody Woodward

    I thought a mint was sumen’ you et?

  4. this is a great share ! thanks!

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