Please raise your hand if you’ve asked yourself the question “Where does my money go?!”
It’s hard to know how much you are saving -- or spending -- when you’re not for sure on where your money is being handed out. There are many options for tracking your dollars, but today I’m going to talk about Mint.com, my favorite place to quickly track my money.
Mint.com, secure and anonymous, has created the simplest and most effective free way to manage your money. The site grabs your bank account(s) information and creates charts, easy to read goal setting features, investment information and budget information.
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You can sign up for email or SMS alerts to be automatically updated whenever there’s a change in your finances.
Follow these step-by-step instructions to get started:
1. Create a new account
2. Choose from the list of banks, or “Search” your bank
3. Confirm your bank by choosing from the list
4. Enter your current bank username and password (this is used because Mint.com works directly with your account, easing your back-and-forth). Continue with this step until you’ve entered all the banks you have accounts with. Click “I’m Done” when finished.
5. Now your bank info will show up. Now, look at the left navigation bar, and begin to complete each step.6. Now look at the navigation bar across the top and click on Email & Alerts and set up any alerts you’d like to receive.
1. Low balance2. Unusual spending3. Pay bills.
7. Hit “Close” and now you’re at your main screen.
In this you’ll see many different sections. Browse each one and start playing. Look where most of your spending is, and where you’d like to decrease the spending.
Look at your trend. Did you know you spent that much on fast food last month?
It’s really hard to know where to save when you don’t know where you spend. This will give you a great start, allow you to see where your money is going, and how to aim at goals.
And mint.com has an app for your iPhone.