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Fantastic Free Cloud Apps, Part 9: Mint
Published on Oct 17, 2011
Read our article, 'Fantastic Free Cloud Apps, Part 9: Mint' at 'Time to Start Up,' the small business blog by BizFilings.
Take a fresh look at your personal and small business finances with Mint, a Fantastic Free Cloud App that’s compatible with both Mac and Windows, as well as iPhones, iPads and Android devices.
What is Mint?
Intuit, the company behind the app, touts that Mint is “the best free way to manage your money.” With more than 6 million users, they might just be right.Mint has the ability to pull together all your financial accounts into one place. It also automatically categorizes your transactions, lets you set budgets, helps you achieve your financial goals — and offers unbiased free advice, recommendations and helpful next steps concerning your financial health.In their October 2011 article covering finance apps, MacLIfe magazine rated Mint 5 out of 5 for ease of use and ease of editing transactions. It also received high marks for its reports and graphs, as well as mobile device integration (iPhone, IPad and Android devices).However, when it came to creating budgets, two other apps — iBank and Money Dance — scored higher. One of the drawbacks of these apps is that neither is free (although neither is overly expensive). And while Money Dance can be used on both Mac and Windows based machines, iBank is only compatible with Apple operating systems.Safe and Secure
Mint uses 128-bit SSL encryption — just like a bank. They guarantee that “all data is protected and validated by VeriSign and TRUSTe. Plus, since Mint is read-only, no money can be moved in or out of any account.”Automatic Updates & Categorizing
With Mint, your financial information is automatically updated and categorized. It also offers savings suggestions. Automatic alerts, including bill reminders, is also included in the service.How is this Free?
Mint does make money. Just not directly from you. They’re very upfront about exactly how they’re able to offer their app for free and still stay in business. “The fees that banks pay us for introducing new customers allow us to keep the service free for our users. We're committed to staying free for everyone, whether or not you ever act on one of our savings recommendations.Our recommendation is always unbiased: It makes no difference to us which bank or company you work with. We rank products in order of savings, whether we get paid or not. If your current bank is cheaper, that's great. If not, it's up to you whether you make a change.”Whether you choose an app to manage your finances, or prefer working with pen and paper, two things remain true: taking the long view and setting clear goals are both important steps in gaining more control of your financial future. May it be prosperous, and filled with growth ...blog