I signed up with [tag]Mint.com[/tag] in September but didn’t fiddle too much with it until a few days ago. This is due to their system not being able to access our bank account because of the security prompts. Im not sure when it was fixed but I’d sent in a ticket and I just happened to log in the other day and I saw that it accessed everything just fine. Moving on—>The best part about this program is their account integration, [tag]expense tracking[/tag] and web-based system. I didn’t have too much invested in Money Plus so this made the transition easier.

Account Integration

Mint pulls information from your bank accounts, organizes and lets you analyze it. Hubby and I are able to log in from separate locations and see the same information. We had a mini budget pow wow over the phone while logged into Mint and were able to get some things accomplished. I think he was really cautious at first about allowing a program (an online one at that!) to access our information. But after reviewing their security protocols he felt a bit more comfortable. We established a debt reduction and savings plan in about an hour after assigning categories to some of the line items. Mint does this for you based on the name of the charge but little things like Everlasting Life, a vegan restaurant we frequented had a Life Insurance tag. It takes way less time but after not logging in for so long we had to assign categories in order to get an accurate spending report.

Expense Tracking

Just like the other budget programs, you are able to track your spending and then break it down by category into neat little charts. Mint will also analyze your spending and tell you where you can cut back or switch services to save money. Granted these are partnerships but after check out a few myself, I would have saved money based on their recommendations. Keep in mind, you know your situation better than a computer. So while they recommended I stay with Verizon and get a cheaper phone/plan, I still made out better with ATT with the iPhone..

Software vs. Webware

In this case the webware wins! Nothing to download I can log on from any computer with an Internet connection to check our accounts. This makes it easier to track my spending when away from home or at work where I don’t have my laptop. I found that even with Money Plus I still liked the updated and intuitive features of Mint.com. The bright modern user interface is easy on the eyes and keeps you coming back.

Ease of Use

The program is very intuitive and we found that it resolved many of the issues we had with Money Plus such as not being able to batch assign transactions or spending categories. Imagine having to go through each and every transaction for the last 3 months when you make it every day? Example, Au Bon Pain, I would have to either keep up and assign this category weekly in Money Plus, while in [tag]Mint[/tag], I am able to batch assign the category at the end of the month and create a rule to assign the same category for all future transactions. *insert cheesy smile here*

Cost

Mint.com=FREE

Microsoft Money Plus $49.95

Need I say more?!

Geezeo.com, Wesabe.com and Mint.com are the main online personal finance software programs out there right now. I am really impressed with the ease of use and how intuitive the Mint.com program is with regards to daily account management.

Kudos to their developer for such a wonderful program!