I know that a lot of people are nervous about sharing their financial logins with companies. There is no doubt that there is a risk in doing this. However, I really needed a way to keep my finances in order, as I am not the most organized when it comes to money matters. I really like using Mint.com, although it is missing two huge features that I would need before I made it my sole destination for personal finance management.
Currently, Mint shows transactions, allows you to create a budget and tracks it for you and compares your spending to other users anonymously by city. Mint makes money by offering users deals on financial products. The offers could potentially help users save some money,too, through signup bonuses, lower credit interest rates, and higher savings interest rates.
What I miss most in Mint is a way to project into the future. Quicken Online offers this, but there are problems with their service as well. The ability to input expected transactions essentially duplicates the functionality of a checkbook register. This is a critical feature for anyone who looks to keep their finances in order using a single online tool.
Additionally, I would like to see a bill calendar. Mint checks for the due dates for any loans and credit card accounts that you have registered. It will also remind you when a bill is due via text messages if you would like it to. What is lacking is the ability to see all of your due dates at one time and in one place. This is important for budgeting and planning.
Mint.com is not a finished product and it has been improving nicely over time. I look forward to what they come up with next.
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