Home > Money, Real World, Uncategorized > Rant and Rave: Mint.com

Rant and Rave: Mint.com

By Stefanie Wheeler, Asst. Online Editor

Its like Big Brother, but better.

Budgeting seems like an impossible task for college students.  For those of us who do take on a part-time job along with classes, studying, and internships, finding ways to budget what little money we do make is tough.  And for those of us who don’t get our shopping sprees and expensive restaurant outings subsidized by our parents, it can be even harder.  Luckily, there is a solution to the problem.

Mint.com is a free website that offers online money management.  Essentially how it works is you set up an account, enter all of your bank information (you can link as many accounts as you’d like), create your ideal budget for standard categories such as restaurants, clothing, alcohol, car payments, rent, fast food, entertainment, or even create your own.

Mint.com tracks every transaction you make, files it under the appropriate category, and shows you easy to read graphs of all your spending.

Once you have exceeded your budget for a particular category, you will receive an e-mail letting you know exactly how much you’ve spent over budget and in what category.  You will also recieve email notifications when one of your bank accounts is low, or when you’ve been charged fees, i.e. ATM fees.

Mint.com is extremely easy and helpful.  It is the best solution I’ve found for budgeting my money.  I’ve been using it since January as part of my New Years Resolution to save money, and I’ve managed to save about $2,000 so far.  Being aware that I was spending hundreds of dollars on unnecessary things really guilt-ed me into being more conscious about my spending.

The website also offers advice on credit card debt, loan payments, saving for retirement, and understanding investment, all free of charge.  And although we may not be ready to start a 401K anytime soon, its never too early to be thinking about it.

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