Hands-On with Mint: Manage Your Personal Finance on iPhone

by Simon Ng on February 7, 2010



If you are not familiar with Mint.com, it is the #1 online financial management services for the American market and recently acquired by Intuit. Mint.com is not available internationally. Mint uses bank-level data security to allow you to manage all your accounts from one location online anonymously. You don’t share your name, address, social security number or account numbers on Mint.com. You do have to provide your online banking user name and password. Mint.com protects all your data securely and requires all their employees to pass the same security background testing as banks.

Mint.com has released its app for the iPhone for quite a while, allowing you to manage your finance anytime. The app is free for download via App Store. Before you can use the app, you must first sign up an account at Mint.com. Then when you download the iPhone app, you get all the same functions as the website. You can check all of your accounts: online banking savings and checking, credit union and credit card accounts. Moreover, Mint offers a program that uses your spending habit to build a budget and offers advice on savings. It gives SMS alerts on when bills are due or if any suspicious activity is happening with your accounts. Mint provides a lot of information and insight into your accounts and offers savings advice but does not support any transfers of money. Mint is strictly a read-only application.

With the Mint iPhone app, you will be able to check your bank account and credit cards balances. You get the most up-to-date data available from your bank anywhere so long as you have mobile connectivity. You can enable email or SMS push notifications for when you go over what you set up for your budget or if you received service fees or other charges on your accounts.

An added security feature the good folks at Mint.com have built in is the ability to disconnect iPhone access to your Mint.com profile if your iPhone gets lost or stolen. This is an excellent addition that will be very appreciated by the first person that requires this service.

The great thing about the Mint.com service is it unmatched budgeting service that you receive with the application. If you are serious about your budget (and in these economic times who isn’t) your probably already are using Mint.com. The iPhone app is therefore a very helpful and logical extension for your budgeting needs.

Mint offers saving advice on credit cards, checking accounts, savings accounts, CDs, auto insurance, brokerage houses and IRA rollover. Using your monthly expenses and answering a few questions on your preferences, you get a list for the best places that match your use of these services based on cost. It’s a great service for finding savings that would not normally be common unless you do a lot of searching and calling around.

If you are watching your budget and in search of a mobile app to manage your personal finance, you might want to give Mint.com a try, I think you will find it very helpful. If you have an iPhone you will definitely want this app to extend your Mint.com experience.

As mentioned, the app is free for download and available in US App Store [iTunes link]. You’ll need to run the app on iPhone OS 3.0 or up.

As always, remember to leave us comment and share your view about the app.

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{ 1 comment… read it below or add one }

1 harnett accountants February 9, 2010 at 2:04 am

This looks like an excellent app. I hope it will be rolled out to the UK market quickly. On a different note – $900 a month for non-food shopping?! WooHoo! Can I come along?!

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