A Review of Mint.com – Online Budget Tool

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I‘ve been a long time user of Mint.com. If you’re not familiar with Mint, it is a free online personal budgeting tool that allows you to see your whole financial life in one place.  Whether it’s checking, savings, credit cards, PayPal, investments, retirement accounts or many other personal finance accounts, Mint.com is your one stop shop to manage them all. In this review, I’ll share my experience with Mint.com.

Before I go into specifics, let me say that there is a difference between liking a product and liking what it does for you. Mint.com is an example of an innovation that delivers on both. It’s an inherently good concept and very well executed.

Before getting to the review, it’s important to understand that Mint, like Quicken, attempts to manage all aspects of your finances. That’s good and bad. It’s good in that it covers everything. It’s bad in that there are more specific tools that do each job better. For example, if your primary goal is to track investments, then Personal Capital is by far the better choice. And if all you want to do is track a budget, YNAB is the better choice.

How to Get Started with Mint.com

To begin, simply create a Mint account (it’s free). Once created, you will be prompted to add all of your financial accounts, including your bank account, credit cards, home loan and investment account information. This is the critical step to getting the most out of Mint.

You add these accounts in two steps. First you search for you financial institution on Mint. They have just about every bank, credit card company, and investment broker imaginable. Once you locate the financial institution you want to add, you’ll be prompted to enter the log-in credentials you use to access that account. This allows Mint to access your accounts and download your financial information into Mint.

There are three things to note about this process. First, Mint.com uses the same back-level encryption to protect your financial data that banks use. Second, the access you give to Mint is read-only, meaning it has no ability to actually move your money. It can only read the transactions and balances in your account. And finally, the process takes roughly five minutes.

I have to confess that I was a bit nervous the first time I entered this information. But I’ve used Mint for about two years now and have never had my financial data compromised.

What Makes Mint.com So Awesome?

First and foremost, it’s free.  Who can object to free when software like Quicken Deluxe costs $60. Second, Mint.com is easy to use, which is why over 6 million people use Mint.  It categorizes everything for you, every day.  You can name the categories yourself, if you’re not happy with the default options Mint.com has set up for you.

Overview

Called an Overview, the first thing you see when you log into Mint.com is a snapshot of your finances. I use this screen more than any other. From the Overview I can look at the balances in all of my bank accounts, see how my investments are doing, check my credit card balances, and get alerts about upcoming bills.

Here’s a screenshot of the Overview in Mint:

Mint Overview

The Overview screen also gives you a snapshot of your monthly budget. From this snapshot, you can quickly see if you are on track or if you are spending too much in one or more areas of your budget.

Mint Budget Snapshot

Transactions

As the name suggests, with the Transaction page you see all of the transactions from all of the accounts you’ve linked to Mint. I use this page to categorize all of my spending. Mint does a reasonably good job at knowing how to categorize many transactions automatically. But there are always some transactions that I have to categorize myself.

Mint Spending HistoryThe Transactions page has several helpful tools. First, it’s a snap to few your transactions by account, budget category, or payee. For example, I can quickly few the transactions for groceries across all accounts or just one. Second, Mint compares how much you’ve spent say on gas versus the U.S. average. This can be a helpful tool when setting up a budget.

Budgets

For many, this is the heart and soul of Mint.com. The Budget feature makes it ridiculously easy to set up and track your monthly budget. There are two approaches to creating a budget in Mint.

First, you can create one as soon as you sign up for Mint. You simply select the categories you want to track and how much you plan to spend in each category. Mint has a list of categories to choose from, or you can create your own. As noted above, for each category Mint gives you the U.S. average that people spend for each category, which can be a big help.

The second approach, and the one I used, was to wait a few months before setting up your budget. Let Mint track your spending, and then it will suggest a budget based on how you’ve spent your money. This makes creating the budget very easy. As you can see from the screen shot below, Mint has suggested a budget for me for groceries of $270 a month (a bit low because I had not categorized all my grocery transactions):

Mint Budget

Goals

Mint Goals are a simple way to track your progress on important financial steps. While you can customize your own goals, Mint offers several goals to choose from, including paying off credit card debt or saving for an emergency.

Goals are useful in several respects. First, Mint integrates your account information with the Goals functionality For example, if your goal is to pay off your credit card debt, Mint automatically grabs your credit card balances and brings them into your goal. Mint also offers useful calculators to help you establish your goals, and it provides a simple and intuitive way to track your progress.

Investments

This is the disappointing side of Mint.com, at least for me. You can track investment accounts in Mint just like a bank account. Every day after the market closes I update the investments in my Mint portfolio. This snapshot is very helpful. But that’s about all Mint provides when it comes to investments.

So what’s the problem? Well, there are two problems. First, Mint does not provide any features to help with asset allocation. It would be very helpful if Mint broke down my investments by asset class much like Morningstar or Vanguard can do. Now in theory Mint can do this. When you go to the investment page, there is an “allocation” tab. Here’s what mine looks like–

Mint Asset Allocation

Not exactly helpful.

The second problem is even more frustrating. Mint seems to have a problem when it comes to connecting with brokers and mutual fund companies. It’s not uncommon for Mint to have trouble downloading investing transactions. And even when it does download the transactions, they don’t always appear on its Investing page.

For example, my Overview currently shows all of my investment accounts. But when you go to the Investing page, my Scottrade account is mysteriously gone. Actually, it’s listed, but it is greyed out and the value of the account is not added to my total investments. this must simply be a bug in the system, but a very frustrating one.

The fact is that Mint.com is for budgeting, not investing.

Final Thoughts

So here’s where I come out on Mint.com.  If you’re a visual learner, like me, Mint.com has all the right graphs and charts to make me feel in control of my finances.  It’s orderly, easy, and don’t forget, free.  I suppose your expectation level will dictate how well you like this product. I expect mass market products to have pitfalls. Nothing can be everything to everyone.  If you’re on the fence on whether or not to use Mint.com, just look at all of the information you see simply after you’ve logged in.

Mint.com was already named the best online personal finance tool by Money Magazine, PC Magazine, and is PC World’s Editor’s Choice.  And since Intuit purchased Mint.com, there have been big improvements. It’s still not perfect, but I think it is a good overall option for online budgeting.

Published or Updated: December 6, 2013
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. PM says:

    Your intel is assuredly out-of-date. I had issues with a credit card and also having an account that was unable to be added. Every issue was responded to quickly (by a real person). The forum I feel brought common issues to the forefront and the credit problem was fixed in less than a week. On the other hand, the account took a while to be added. I was okay with manually updating the information for a few months until it was eventually able to auto-update.

    I see Mint.com as only getting better while they continue to fine tune the web based feature.

    • Autumn says:

      I disagree. The lack of support is a current issue. Still at the end of 2010 I have yet to experience a real person’s assistance – the rep emailed me a link back to my own question as an answer (and there was no response otherwise to be found).

      Savings bonds are tracked only as property and not as investments, and therefore their value does not update. More importantly:
      1. All through November my iPhone app thought it was still October and flagged everything as over budget; going to the website did not solve the problem.
      2. I paid off my car 2 months ago and although I’ve received the title, Mint still shows that I owe $8000.
      3. One of my credit cards is listed twice automatically – one entry shows line items and another does not. Therefore every month the “credit debt” figure is doubled.
      4. Many of the accounts stay in the “unable to update” mode with incorrect figures even though I continually re-verify them and therefore the data – the entire reason to use Mint – is always wrong. When I check with the institutions their data is up to date.
      5. I requested that a major bank be added (credit card issuer WFNNB used by Express, Limited, Buckle, Victoria’s Secret and other major retailers as their store card source) and several months later I haven’t had a response.

      With persistent incorrect and out of date data, no inclusion of some major accounts, problems with government bonds, and no customer service to solve these problems, all I get is a vague ballpark figure, and there’s no reason to use the service. Therefore Mint, please tell me something I don’t already know.

      • Sheeza says:

        I just wanted to thank Autumn for taking the time to post in detail the problems she/he is having with mint.com. I was on the verge of signing up but have decided not to based on this information.

        Thank you!

      • Ric says:

        Thank you Autumn for your detailed review. This has got to be the first honest review I have read all morning.

      • Linda says:

        Thank you Autumn for the details. I was about to sign up again forgetting why I stopped a couple of years ago. No customer service. I hate add all the data and then have bugs and errors as mentioned. Not worth it

    • Lisa says:

      I have three separate accounts that the site hasn’t loaded for over a week now. I received the generic IT help email in response to my request but, no live human has called to help do anything. I checked and double-checked my information. On at least one of the accounts, everything is correct. From my perusal of the site (not b/c any human called to suggest it or b/c it was contained in the email I received), I have discovered it may be creating a problem that my security challenge questions on mint.com are not identical and listed in the exact same order that corresponds w/ my institutions site. However, Mint.com did not indicate that this might create a problem in the “easy steps to get started” intro. Now, I am unable to figure out how to reset the challenge questions in order for them to properly correspond with those on my financial institutions site. I have sent a second email to mint.com to request help. If anyone out there knows how to get back to the security challenge set-up screen and edit it, please let me know. Thus far, I’m not impressed with the support on this site (e.g., forum questions or IT correspondence).

    • Lisa says:

      I have three separate accounts that the site hasn’t loaded for over a week now. I received the generic IT help email in response to my request but, no live human has called to help do anything. I checked and double-checked my information. On at least one of the accounts, everything is correct. From my perusal of the site (not b/c any human called to suggest it or b/c it was contained in the email I received), I have discovered it may be creating a problem that my security challenge questions on mint.com are not identical and listed in the exact same order that corresponds w/ my institutions site. However, Mint.com did not indicate that this might create a problem in the “easy steps to get started” intro. Now, I am unable to figure out how to reset the challenge questions in order for them to properly correspond with those on my financial institution’s site. I have now sent a second email to mint.com to request help. If anyone out there knows how to get back to the security challenge set-up screen and edit it, please let me know. Thus far, I’m not impressed with the support on this site (e.g., forum questions or IT correspondence).

  2. Craig Ford says:

    A few months ago I was doing some research trying to find the best personal finance software. Mint.com was definitely one of the best free products. Those who liked it especially liked how you could access your information from any computer.
    While most people loved it three common criticisms came across included (1) password security (2) the number of ads (3) the fact that you couldn’t do anything about upcoming money plans only what had already been spent.
    For people with those concerns a desktop version would be better.

  3. I like to manage my own budget manually using excel. Mint and other online tools may be powerful and useful, but I feel I have more control over the money I spend by manually managing where my money goes. I guess I’m just more old fashioned.

    • Roger says:

      I feel the same way about excel and being more flexible. I am considering developing a solution in excel to import your financial data and then you can use the power of excel from there. Is this something you would consider using or do you feel it would be not enough to differentiate from mint, quickbooks, etc.

      • Roger says:

        Forgot to mention: Email me: rogsmith [at] gmail [dot] com

  4. Jim says:

    Mint is slow not just to add new banks, but to update your recent transaction information. Every time I have logged in over the last three months, it says “we’re getting the most recent info from your account, it will just be a second” but this usually takes 5-10 minutes (for my BofA account).

    If you use Mint regularly, be sure to have another task like cooking dinner to occupy yourself with while it chugs and chugs.

  5. Afton Teague says:

    Something has happened recently to Mint.com. It used to work beautifully for me and then all of a sudden my account won’t update for days at a time. I tried deleting the accounts and then adding them back on. Now I can’t even add the accounts back on that I used to have on there. I am very unhappy and do not recommend this site at all until they fix whatever has happened. It has become useless to me since it won’t update my accounts.

  6. Curt says:

    I have a dozen or so accounts on Mint. A full 50% do not update and my attempts to correct the issue via clicking on the “Fix It” usually ends up with a message “Temporary Issue try back later”. I have yet to have an account update after waiting. Mint is a great concept in theory and it will remain that way until Mint figures out how to consistently update accounts. As it functions now I could update my finances more quickly by visiting each site individually and entering the info in a spreadsheet.

    • Roger says:

      Hi Curt, I agree with you regarding excel. I am considering developing a solution that will import your transactions directly into Excel and users can then manipulate the data and create charts as they wish. I am just researching now to see if other users would find this useful. Is this something you would be looking for over mint.com or others?

      • Roger says:

        My email is: rogsmith [at] gmail [dot] com

    • John says:

      For me Mint is not working out. I need to have more or less current information about my accounts, but it is taking them forever to update them. I can go directly to my bank website and see everything up to date, but my Mint account is usually at least a week behind.

      There has to be some service or software out there that can do this properly, but I haven’t found it yet…

  7. Steve says:

    Since intuit bought this site it sounds like it has gone downhill. They have kicked all of its Quicken Online customers off QO and forced them onto Mint and have removed all the functions that QO customers liked. This product is horrible. Not only do I recommend not using Mint I recommend not purchasing any Quicken and intuit products (i.e. Turbo Tax) due to their destruction of two perfectly good sites.

  8. Mark says:

    They can’t seem to get my main card issue resolved. It has been over a month. Service is truly lacking. I would not recommend the site.

  9. Bob says:

    Mint NOT recommended. It is overly structured to auto categorize. Yes auto categorizing saves time. But the point of a budget is to make decisions and trade offs. What you want to trade off depends on how YOU view your financial categories. On that everyone is different, but Mint locks everyone in the same. Every online tool that I’ve seen allows you to auto-categorize the expenses that you wish too. And Mint’s ability to compare your spending categories with people in the area (which requires everyone to use the same categories) is really not relevant to your own situation. I haven’t tried (quite) everything, but I’ve found Mvelopes to be the best combination of automation and control.

  10. Tim says:

    I currently use a Quicken desktop for my personal finances. I would like to use Mint.com since I could access my data where ever I am. But, until they add a feature allowing me to transfer my current information, there is no way I can willingly discard years of data in favor of convenience.

  11. Chess says:

    Mint’s Budget feature is a joke. You can’t create your own categories or add specific subcategories. You can’t even use a newly created budget, and apply it retroactively. Totally useless, in my opinion.

    • DR says:

      Chess, you can create your own categories or edit existing ones.

      • tulsa says:

        No you can’t. You can’t plan future payments, you can’t edit categories create SUBcategories. You are incorrect.

  12. Eli in new York says:

    I tried Mint.com and trust me it truly sucks. My biggest problem was that you could not manualy manual pending transactions out of the register and have to use the “exclude from mint” catagory or option which off course effects your available and true balance. Eg pending transactions do not always correspond with the true transaction especially when the exchange rate fluctuate. I wrote Mint and they responded that this ” SIMPLE” feature is not available at this time. I did some research and realized that Microsoft Money has a program that is very similar to Quicken.

  13. Eric says:

    Simply said “You get what you pay for”. Quicken purchased Mint and removed some online competition. How much quality would and security you expect from a free cloud based service and why on earth would you trust it?

  14. Skreling says:

    Its interesting that nearly all of the comments are negative. I too, have fallen off the Mint bandwagon. I thought it was a great site and still think it is a great concept. All of your financial information in one place to help consolidate data to aid in better financial decision making.

    This has not happened. It worked pretty well originally, but with financial institutions constantly changing security protocols, Mint has to be updated every time I log in to clear the “failed to connect” type of errors. I spend more time now troubleshooting than doing my budgeting and analysis by hand. Not only do I have to go to each institutions web sites to manage my accounts, I have to massage Mint into playing nice with them. Instead of a helpful tool, it has added two additional steps than I had before using it. That is not value.

  15. David says:

    I have used mint for the last 4 months, and while I initially liked it very much, the problems are beginning to outweigh it’s benefits. Recently, mint changed to zillow.com for calculating the current value of homes. The problem is when it did, previous months of data were dropped to zero. So, looking at trends on your net worth is not functional (if you owned a home prior to the zillow switch). In addition, investments accounts in the investments tab seems to randomly error for many people. It seems this problem is with specific institutions, but every one of my accounts with three different institutions has had problems. The overview/transaction pages show balances/transactions for these accounts, but when you go to the investments tab, there appears to be no data available.

    I hope mint.com fixes these issues quickly because I think it is a great utility, but I don’t recommend anyone sign up for it until these issues are fixed.

  16. robert says:

    Found the comments much more helpful than the article. I’ve been on the fence ever since Mint arrived on the scene. I find it curious people are so willing to give up their financial information to a third-party without any accountability or responsibility for your data all under the umbrella of being free of charge. Thanks for writing the article it attracted an informative thread of comments, I can scratch Mint off my list of Personal Finance tools.

  17. Kristen says:

    I just recently got onto mint.com and what can I say? It’s the coolest thing since icecream sandwiches that don’t need to be kept in the refrigerator. Surprisingly, I see several complaints on the forum. Then again I am a 26 year old with a good credit score but very few assets (considering I live with my parents). I think this would be a great tool to show your young college students to make them more financially conscious of their spending. I find it very user friendly and the graphical representations add a little spizzazz, as well as, clarity to the young consumer. I also find the smart phone app so neat!

  18. bonnie cooper says:

    prefer not to use mint,get the same thing on my wellsfargo page,dont want to use it anymore,how to i cancel my account as i get a 3.00 surcharge on wellsfargo

  19. Adrian says:

    A lot of haters here. Well I guess I’m one, too. Ok, not hate, just verrrry disappointed.

    I’ve used mint since they were in beta. Not every day, not even every week. I’ve just been waiting for the resolution of several of the concerns voiced already.

    I can’t trust mint. The updates just don’t update correctly, and that’s after waiting for 1 to 10 minutes, depending on the financial institution. I’d llike to know accurate balances on the iPhone app or the website — mint doesn’t do that.

    The budget tool really is a joke, as explained above.

    So, while it is definitely good-looking, it’s just a tease really. It has not improved its most basic functionality.

  20. Stevo says:

    Count me among those who appreciate the potential of what Mint could be, but still find it woefully lacking.

    Great concept, but simply does not capture reliably all of my financial information to make a complete picture. What good is it to have all of the great features it does have unless all my accounts are represented.

    I’ll be looking elsewhere.

  21. Anne says:

    I have just one account that will not update, and it happens to be my main bank checking account. I have asked for help and received only a few short replies, which have not helped the problem. Now, Mint won’t respond to me at all, and it has been FOUR weeks since my bank account updated. I am at a loss, since I loved the concept and was overall happy with Mint.com. Not having your bank account update, however, is a deal breaker! Are there any good alternatives to Mint that are similar, but more reliable?? Mint was really helping me keep track of my budget, but now I am discouraged. Help!

  22. Sheldon says:

    I have not used Mint.com ( I am unfortunately not a United States citizen ), although I am trying to start a similar website to Mint.com.

    Perhaps some of you could help me ( and Mint if they read this ) out by briefly listing all the positives and negatives.. And all the features missing?

    • Autumn says:

      It seems like you’ve gotten most of them, but i just posted so here are some additions for you:
      1. All through November my iPhone app thought it was still October and flagged everything as over budget; going to the website did not solve the problem.
      2. I paid off my car 2 months ago and although I’ve received the title, Mint still shows that I owe several thousand..
      3. One of my credit cards is listed twice automatically – one entry shows line items and another does not. Therefore every month the “credit debt” figure is doubled.
      4. Many of the accounts stay in the “unable to update” mode with incorrect figures even though I continually re-verify them and therefore the data – the entire reason to use Mint – is always wrong. When I check with the institutions their data is up to date.
      5. I requested that a major bank be added (credit card issuer WFNNB used by Express, Limited, Buckle, Victoria’s Secret and other major retailers as their store card source) and several months later I haven’t had a response.
      6. Savings bonds are tracked only as property and not as investments, and therefore their value does not update.
      7. Essentially no real customer service.

    • Autumn says:

      Oh sorry -positives:
      1. Nice graphical representation concept.
      2. Nice concept to be able to view all financial matters in one place.
      3. The iPhone app. I wouldn’t use anything without an iPhone app and an iPad app would be nice too.

      It would be nice if someone could make it work.

  23. Jonathan says:

    Fantastic concept and once was a very good product however the problems have become too burdensome and now outweigh the benefits. I find myself doing all of the trouble shooting as to why my accounts were updating slowly and incorrectly coupled with the fact that one of my major investment firms fell off and has not updated in four months. The Mint customer support has been dismal to non-existent. Perhaps the original founders have left the building after collecting their money from Intuit. I’m told one month after the completion of the acquisition, the lead designer, Jason Putorti, left Intuit to join Bessemer Venture Partners.[

    Hence, I am investigating alternatives and truly don’t mind paying a few dollars a month…my financial planning is worth it.

    • Roger says:

      Would you consider using excel if it could import your transactions? I am trying to see if there is enough interest for me to write an excel application that will enable you to import your transactions into excel and then manage that data on your own from there.

      Email me: rogsmith [at] gmail [dot] com

  24. KD says:

    Mint = Fail. The comments here are more telling than the article. I’ve been using mint for almost 4 months. Sadly, it does NOT work. I wish it would because it has some cool features, but it doesn’t. I only have one simple checking account and Mint can’t properly track it. There are too many errors – transactions mis-categorized, transactions duplicated, even imaginary transactions. I don’t care that much about things being labeled incorrectly, but I DO care that the balance shown is NOT my real balance. Duplicated transactions are unacceptable! The budgeting tool would be great, except you can’t manually manage it. For example, transactions that slide over to the next month.
    Are there any suggestions out there for other financial tools?

    • Autumn says:

      One person above offered Mvelope. I was hoping to find a few more suggestions. Anyone?

      • Roger says:

        As I mentioned above I am considering writing an excel app to import transactions into excel and let users manage the data from there. I am trying to see if there is enough interest for me spending the time. Would you find this useful.

        Email me: rogsmith [at] gmail [dot] com

      • lehall says:

        I use and Love YNAB (youneedabudget.com) It is desktop rather than online, but really good at budgeting.

        • Bobby says:

          Here are a some others. I am in the process of trying them out, so I will give an update after a few weeks of use.

          Yodlee.com — Yodlee handles the vast majority of all the financial institutions aggregation software process. Before Mint was bought by Intuit, Mint used Yodlee and there was a lot less problems with accounts not be supported. Not as “pretty” of a site as Mint, but all my accounts were aggregated with almost not problems. (Most were typo login problems.)

          Thrive — JustThrive.com — Very similar to Mint. Less categories to track spending in. Almost as pretty of a site as Mint.

          Wesabe –Have not created an account yet.

  25. Bobby says:

    I must say after 12-months of using Mint, I am both very satisfied with it and very upset with it.

    Mint is a great tool, for the cost, nothing but one’s personal time is involved. That is a huge benefit to Mint.

    I am upset that one of my main investment accounts, American Century Investment is not supported by Mint and on December 8, 2010, Mint totally stopped trying to link any members account at Mint with American Century.

    Mint also has a problem with linking GEMB (General Electric Money Bank) which issues the Wal-Mart, Lowe’s and many other credit credit cards.

    I can handle the non-linked credit cards as I pay everything in full each month anyway, but the lack of not having an investment account to update, it makes my retirement “Goal” look so far off, I would have to work till I am about 235-years old to retire.

    If Mint would allow one to manually input non-linked accounts it would be a vast improvement and would take care of almost everyone’s problems with Mint.

    My concern, since Intuit has purchased Mint and Mint cannot link many financial institutions, will Turbo Tax by Intuit be able to access those accounts in 2011?

  26. Randy Kaempen says:

    Mint.com is seriously flawed. For months now, they have been sending me warnings that I haven’t logged on in 6 months, even though I do every week. I notified mint.com 4 months ago and they still say they’re working on it.

    They posted a payment to my PayPal account as a negative instead of a positive. When I asked them about it, their response was that I could edit it if I wanted to. (!!?)

    If their software is this flawed, I am worried about trusting them with my financial data.

  27. Mary says:

    There is one thing that I hate about mint.com: they can’t do math! I love everything about the site, but if a financial planning website can’t add a column of numbers, and get the correct sum, it is completely useless. I tried it twice for several months with the same results. I would rather enter my own information into YNAB, and be able to depend on correct mathematical computation.

  28. Sean A says:

    Since Intuit bought Mint.com, there have been several issues with their transaction aggregator. Not the least of which is GE Money Bank which has blocked the aggregation all trasactions from *any* credit card they administer (and there are dozens, if not hundreds). If you read the Mint forums, you’ll see they are rife with complaints.

  29. David says:

    I would second the posting by Autumn. I’ve been with mint for a couple years and feel there has been a marked decrease in the service and marked increase in the issues. Accounts update slowly and heaven forbid you forget your password! I’ve been trying for weeks to get the “reset your account” email sent to me. To be honest I just figured this was on purpose to force people to the pay services.

    • DR says:

      David, there is no pay services. Mint.com is totally free.

  30. Tina says:

    I must say I would avoid Mint.com like the plague unless you want to waste your time and effort in putting all your info in to find only a few days later that is doesn’t update transactions EVER and you have no way of following your budget or tracking your spending. It may be free but time is money and I wouldn’t waste it on this product. TERRIBLE customer service too and these issues that I am talking about have been there over a year as I can see from reading the forum on their site. They clearly shouldn’t market this product until they have fixed this fundamental issue. DO NOT USE MINT.COM

  31. Eric says:

    I thought I would try out Mint.com, as my version of Quicken is about to expire and I thought something I could use from my Droid would be a good replacement. I was wrong.

    The Available Balance has not been correct for the entire time I have used the site. It fluctuates wildly, from positive to negative to positive, even though I have made no deposits. It matches some transactions well, but others it totally misses. The amounts are correct, and the name is the same (except for the “bankdownload” it adds), but the site just goes ahead and duplicate it. If it adds a transaction before I have manually done so, it occasionally takes the information from the last transaction and uses it for the new one (except for the amount), thus making it harder to figure out where my money is really going. It appears that Mint.com is totally unable to do what it claims.

  32. fungi says:

    Mint has a major! major! flaw. I can’t believe not one has mentioned. You cannot filter by date anywhere on mint. Not on the trends page or when you are looking at transactions. This should be the most basic functionality. For example if you are trying to do your taxes for the previous year there is no way to specify last year. This is a major concern and may very well lead me away from Mint.

  33. Nick says:

    I see a lot of complaints about Mint. Any suggestions for alternatives (either online or offline—-including for Mac)? I was thinking of trying Yodlee.

    • Waheed Ayubi says:

      Hi Nick. Please give http://www.monkeypeanuts.com a try.

      Manage multiple bank accounts from one dashboard
      It’s free and anyone can join

      Supports all major US banks and credit cards

      Fast
      • Directly connects to your bank
      • Doesn’t use slow third party providers

      Clean
      • No clutter!
      • Easy to use just like GMail

      Secure
      • Extensive use of AES encryption
      • Bank credentials are never stored online

  34. Dave says:

    Well, the best part of this review were all the reader’s comments – which influenced me to NOT use mint.com.

    Thanks!

  35. David says:

    Got Mint a year ago. LOVED it! Oh, it didn’t include 401save.com, it was always a day or two late in updating, no cash account, etc.

    THEN LAST MONTH!!! All but one bank account was duplicated. Some transactions were in triplicate with the last two canceling. “Customer Service” said I added the accounts or something like that! Then of my 3 credit card accounts on Mint (I only have one, which was updated for a possible security compromise, just before the troubles) failed to update with new transactions although one of the duplicates with no transactions listed had the updated correct balance. Then Mint adds the 3 phantom credit cars to my total debt!
    Can you figure that out? Warning: Mint can turn into a rathole waste of time!

  36. Miltos says:

    Just to balance things out I thought I would add my 2 cents and say that I love Mint (all things considered). I don’t work for them or have any vested interest in its success. I’ve been using it for a year and have had some issues, but currently things are working great. I’ve looked at all the other web-based services and still think Mint is the best for me.

    Things to consider:
    - It’s free, so they don’t really owe you anything; given that, I’ve found their support to be passable. It’s not great, though I’d put it on par with Quicken support, and I paid for that.
    - If you’ve got a financial institution they don’t support, you’re out of luck
    - If you’ve got a financial “instrument” they don’t support or handle they way you want it handled, you’re out of luck

    I’ve been a religious Quicken user since the DOS days (no joke). I tracked every cent and reconciled my accounts every month. Over time, though, I became an avid smart phone user and came to care more about my current budget/spending than I did about tracking historical trends. I wanted access to my data anywhere, anytime and didn’t want to have to spend hours manually dealing with “stuff”. Mint just works for me in these regards.

    Here are all the problems I’ve had with Mint and their current status:

    1. It couldn’t pull my credit card account in, even though it could pull my checking/savings in from the same bank. It was because of how my bank dealt with the account in its system. I learned to live with it but a few months ago the account just showed up in Mint and it’s worked great since.

    2. They had a wide-spread problem with Fidelity accounts a few months ago. I had one account showing up twice, which made all of the high-level numbers worthless. I emailed their support and got responses, but it wasn’t helpful. I eventually found a page on getsatisfaction [dot] com (where mint handles support) where many users had the same problem and Mint was responding to them. It took them a while but they eventually got it fixed (for me anyway).

    3. Mint shows you pending transactions, which are transactions that your bank knows about but hasn’t officially posted to your account (i.e., it’s still being processed). This is annoying and I (and many other users) don’t think they should even show us those transactions. If you ignore these pending transactions they will eventually go away (when the real transaction posts), but if you edit them in any way then they will stick around in your list even after the final transaction posts. This is where I have to remind myself that it’s a free service and I can take it or leave it.

    I really miss Quicken’s paycheck wizard and it’s more advanced budget configurations, but I’ve given those up in favor of Mint’s ease and access-anywhere. Maybe someday Intuit will allow Quicken and Mint to sync, but I don’t see that happening in the near future if at all.

    Mint is not perfect and many users have real problems with it. It’s software and it has bugs. Although I understand why, it’s still not fair to expect all free software to work as well as your free email does (for various reasons).

    Mint works great for me (including both the iPhone and Android apps), but no one can promise it will work great for you.

  37. Jamie says:

    Just started with InDinero.com. Is working fine so far, except that a couple of my banks aren’t supported yet.

  38. Lee says:

    I am not sure if you are reviewing the same Mint.com I have been attempting to use lately. Do not get me wrong, I think Mint had a great product, and was generally able to respond to customer issues. Since the acquisition, the site has become painfully slow to launch, has many javascript errors, and is even more unresponsive to customer issues.
    Regarding slowness, any site which takes one-two minutes to load the login screen is having issues. Assuming it loads correctly, launch after login has locked my computer on numerous occasions,making the site one I have to stay away from if I want to get anything accomplished. While the do support many banks, they are clearly having difficulties with the captchas some use for security validations.
    Unfortunately, there is not a suitable replacement available at this time, which is the problem with getting sucked up by the competition, it leads to monopolies.

  39. SYLVIA says:

    I just finished my Turbo Tax and was sent to this site, Mint.com. I decided to try it and entered one bank information. I immediately got emails that my account had insufficient funds, which I knew was not possible since I don’t write checks on that account. I checked and there were charges however, once again I don’t use that account. It’s Sunday so I have to wait until tomorrow to call my bank to check on this. I deleted all my information immediately from Mint.com.

  40. Charlie says:

    Have been using mint.com for about a month and am impressed so far. It integrates 16 of the 18 bank & credit card accts I have into a single register, auto-adding each transaction, keeps running balances of all accts, has good, easy-to-access expense, budget & net worth reporting tools. Have read all the complaints above, but have not experienced them personally, mostly (there are 2 bank accts that can’t be accessed by mint, no matter how many times the known-correct user/pw/authentication info is entered).

    Yes, one must make a bit of a leap of faith re security of your financial data online but, as someone else said, this does remind of the same concerns back in the 90′s about entering credit card data when buying online. Does anyone have a real-life example of Intuit or mint.com data being compromised?

  41. Pierre Robert says:

    Stay away. Mint is terrible, terrible, terrible. You will end up pulling your hair out with they goof, which is a regular event. Good luck figuring out how to deal with all the inability to connect, duplicate entries, and inactive accounts. Support stinks on ice. Don’t waste your time.

  42. Mint.com used to be great — before it was bought out by Intuit. Now it no longer works with PayPal.com, one of the most widely used payment methods on the Internet. Without this, it is practically useless.

    No amount of begging, pleading, or threats to customer support have yielded any help on this for nearly a year. And I’m still waiting …

  43. Mims says:

    Try Pear Budget instead. It puts you in the drivers seat.

  44. Marvin Clonkey says:

    I’m so happy to see so many dissatisfied Mint.com users! I thought I was the only one. After nine months of frustration, I’m giving up on Mint.

  45. Marty - BOA - Wa says:

    Money Magazine, PC Magazine, and is PC World’s Editor’s Choice must not use Mint.com or they are getting a kickback for recommending it.
    If this is the best what is wrong with are highly paid programmers working there. People that need budget help need a product that works, and Mint is not it.

  46. Steh says:

    I have spent a lot of time setting up and trying to use Mint.com. It has the potential to be a great site and helpful to many but I had nothing but problems. The site is based on the ability to load your bank account and others accounts to the site and see an overall view and set a budget. The site continues to have problems in downloading my bank accounts balances and charges. I send a error report and complaint about the problem and they reset the link and it works for a day or so. Then it will not update again. It has been an on going problem that they don’t seem to be able to fix or care about. Every time I have the problem I check directly my bank account online and there is never a problem but for so reason Mint.com gets locked out or something and can’t keep my account up to date. So, when I want to check and use Mint.com it is not up to date and it takes hours if not a day to get it fixed. I have lost count on the number of times I have complained about this and nothing changes. So, what should be and could be a very valuable site to many, has been nothing but a pain. Just a word of caution, that if you want to spend a good bit of time setting up your Mint.com file, be aware it may not work very well at all. I am throwing in the towel and giving this site a failing grade. Don’t have time to continue to chase it. JUST BEWARE!!!!!

  47. Geetha says:

    Why does mint allows empty passwords to log into bank websites?

  48. Hannah says:

    I have used Mint for over two years and I love this program. I have my credit cards, loc, car loan, 401k, savings accts and checking accts and haven’t had a problem with any of them. (6 diferent bank/loan/investment institutions that ALL work well)
    Downloading my info has never been a problem. Viewing (all) my accounts, understanding the goals and tracking my savings is very convenient.
    I use both the desktop version and the iPhone app, but mainly am on my iPhone. It will not allow me to access my accounts if I have changed my passwords etc on my banking websites and has always felt very secure.
    I reccomend it to others.
    If you are a “serious budgeter” and are very OCD you might like something where you have more control, but I am a fan of Mint, always have been.

  49. Platinumx99 says:

    You may of had no problems, but alot of us are having problems. Mint is a great product, but only great when it is fully functional. I am having the updating issues, how can you help better your finances, if you cant see the current figures?

  50. Mike says:

    I was hesitant to try Mint after the reviews and having my bank account information stored in someone else’s computer, but I have to admit I have been very pleased so far. I have quicken and before upgrading decided to “test” Mint. Everything loaded so easily that within two days I switched everything. Everything has come over, although virtually all of my accounts are with national institutions other than checking, which is still a pretty large state-wide institution. I would imagine if you are using a small S&L or CU there could be connection issues. For me however it has been extremely easy.

    I personally like not “downloading” information, and having everything show up in one page, budgeting works well so far, and the matching (bank transactions to transactions I enter like checks) has worked better than I expected. I am only four weeks in so I am sure I will run into some issues, but frankly I had issues with every other package I have used (PC or Mac – on Mac now) and at least I am not paying for these issues.

  51. paul says:

    I have a 17 year old daughter, that has been taught nothing about accounting in high school. It was not until I set her up with MINT that things began to click. If you are young and just starting out, this program is great. As a parent I would reccomend this product for any teenager that thinks they know everything.

  52. name says:

    Within a week or so of setting up my mint.com account, some small payments showed up as multi-thousand-dollar Income items. I reported the issue and about a week later received an email saying the problem had been corrected. I responded that it had NOT been corrected. About another week later I received another email saying the problem had been corrected. (Nope, it’s still not corrected.) MINT IS UNTRUSTWORTHY (and the customer support is certainly non-responsive). I’m deleting my account now, and will be highly suspicious of using any mint (or Quicken) resources in the future. Very disappointed; I had looked forward to using it.

  53. Mickie says:

    While you say there is no rewards for paying cash, I disagree. There I have been companies that will give you an additional discount for paying cash for either their services or products. One place I have found this to be true is in purchasing furniture personally. At work we have had companies offering a large discount for paying them cash or check at the time of service.

  54. john sky says:

    Mint.com sucks because the Everything Else Category is messed up. When you click on it, it lists the budget accounts instead of the individual transactions. Also on the phone app, you can’t click on the Everything Else Category to show your recent transactions like your other budgets. This would help alot to put the transactions into the right category since it automatically puts things into the Everything Else Category that doesn’t have a budget. This unbelievably horrible. Typical Intuit product. Man, this is a great idea but their software engineers just suck as seen in this example and in Quickbooks.

  55. David says:

    Mint.com looks good from the start, but there are couple of little things that are keeping me from using it.
    1) There is an ongoing problem with connections to accounts with Wells Fargo Bank. It worked for a while, but for more than a year now, it does not. Just Google “mint.com wells fargo” and you’ll see thousands of complaints about this. Has Intuit fixed it? No. Do they really care about it? Doesn’t look like it. Sad. Wells Fargo is a major bank. And Quicken has no problem.
    2) There is no way to set up a connection with an account that they don’t already have on their list. There should be a wizard that lets you set up any account, especially for cards, banks, and loans. Quicken lets you do this.
    I would love to kiss Quicken good-bye, but Mint.com isn’t quite ready.

  56. JorgeCalder says:

    PROS
    1. FREE automatic downloads & sync from banks, credit unions and brokerage firms. (with Quicken you have to pay $10/mo. average per bank)
    2. Categorizes downloaded items automatically for you
    3. Let you export downloaded items in CSV format
    4. Let you add transactions by hand
    5. One button to filter and display all bank fees

    CONS
    1. No balance column
    2. No reference code column that helps you reconciliate, enter check numbers and transaction ids
    3. Can’t import data at all
    4. No reports facility period
    5. The All Accounts view does not display a column indicating which bank or account the item comes from.
    6. Can’t export to Quicken (Web Connect) or MS Money Format
    7. CSV exports are unusable. One Amount column and one transaction type column (credit or debit) as opposed to one Credits and One Debits columns. No balance column.

    CONCLUSION
    Unusable for most people

  57. Phil says:

    It will not connect with Vanguard despite numerous attempts.

  58. NoToolMech says:

    I’d like to comment that most of the negative reviews for Mint are due to user problems, not the software itself. There are shortfalls, but for finance software that is free you cannot beat it. The features that I find most useful are the goals, budget, and cash flow. I used to use Quicken and could never get these features to work properly. Setup is extremely easy. 10x easier than Quicken was. It works with all my accounts. I have access through my android phone app, and I can change transaction categories right on my phone. As for the one reviewer who complains about not being able to export to Quicken or MS Money. Why would you want to export from a superior product to an inferior product. MS Money no longer works with online banking (I found that out, used to solely use)

  59. Donna says:

    A program is only as good as its consistency and, unless you want to babysit it constantly, this program is a pain. I set up all my accounts and after a few cliches, they all worked…..for a time! Then they don;t work and the response is always the same – that something has changed with your acct – never that they are responsible. Then unless you have tons of time, the “stock” response start – :”do not sign in for 48 hours….” etc. All to no avail. I got several other responses that they were working on it and then that they were referring it to the engineering dept which, in turn, sent out the same stock response that started the whole process!! Not worth the time and effort to have something that is not reliable!

    • Rob Berger says:

      Donna, have you switched to using something else?

  60. David says:

    I have two unusable Mint logins. After a time, Mint makes changes to
    the behavior of it’s program that cause problems aggregating data.
    Mint is unable or unwilling to address these issues. The customer
    support at Mint is practically non-existant. Although they are
    polite, they are ineffective. Save yourself some aggravation and
    avoid using Mint altogether.

    • Buce says:

      I experienced difficulties with their Customer Service team as well. I am steering clear of them from now on.

  61. Missy says:

    Has anyone noticed the “comparison” charts on mint.com are ridiculous? For instance, comparing what we spend on our mortgage vs everyone else in SF – according to mint – they’re all paying $1000 a month. Oh but wait, they factor in RENTERS into it, and people who have roommates! Again, mint doesn’t care, and won’t do anything about it.

    Let’s talk about grocery spending on mint.com comparisons. Again, really, 2 people in SF only spend $600 a month on food. That includes, apparently going out to the expensive restaurants that are $100 a pop.

    Their comparison aggregator needs to be updated better.

  62. Josh says:

    I’ve been using Mint for about a year now. For a free tool it is FANTASTIC. It gives me an on-the-go insight on my finances that I have wanted for years. After using the program for a while now I find two things that bug me.

    The first thing that bugs me is the budgeting. My budget changes every month based on my obligations. While I have no problem making the changes in Mint each month, it doesn’t let me go back in time to see how well or poorly I did sticking to that budget. It only let’s me see how I am currently doing. I would like to have a historical view of my budgeting to I can compare over time. For now, I do my best to remember to print off my budget report on the last day of the month so I can refer to it later. It’s a minor inconvenience, but worth it to me in the long run.

    The second thing that bugs me is the reporting. It’s almost too generic. I can usually glean the information that I want by clicking around a bit and comparing a couple of reports, but for the most part I would like to see something a bit more customizeable for historical comparisons.

    It’s a free product so I don’t expect the world from them. I can go get Quicken and have all of these features…but I’m on a budget! Other than these two MINOR irritations, Mint does exactly what I am looking for it to do.

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  64. Buce says:

    I had some real issues with their SMS service and found that Customer Service was less than helpful in assisting me in remedying the problem. I think their is a real opportunity for something better — even if it’s not free.

  65. Buce says:

    I had some real issues with their SMS service and found that Customer Service was less than helpful in assisting me in remedying the problem. I think their is a real opportunity for something better — even if it’s not free.

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