Mint.com – Financial Aggregator

Dec 28, 2008 by

I have a lot of different accounts with financial institutions:

  • A local savings account for ATM transactions (yields no interest, but saves me from paying ATM fees)
  • An online savings account for larger cash savings (yields interest)
  • A regular online brokerage account for investing
  • An online brokerage account for my IRA
  • A credit card
  • A merchant charge card

Needless to say, each of these accounts has its own username and password, and it is hard to keep track of them all. Fortunately, Mint.com has arrived at a solution. Using Mint’s secure website, you simply enter all of your usernames and passwords, and then Mint aggregates your data and presents it to you. You can see the performance of all your stocks, a detailed breakdown of your spending, your current savings, and your current debts. To make matters even better, Mint has released an iPhone application allowing you to do this. In the event that you have a large transaction (above a level that you set) or an upcoming bill, Mint will send you an e-mail or text message. At times, I have recommended using online banking services like eLoan to get better interest rates. Thanks to Mint, I now know that I could be getting a better deal if I opened an account with HSBC instead. Needless to say, I think Mint has done a lot to take the hassle out of money management.

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