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Using Mint for Budgeting

Posted on 7/30/20 at 10:04 am
Posted by TigerGrad2011
Member since Aug 2016
1578 posts
Posted on 7/30/20 at 10:04 am
Does anyone have any issues using Mint.com for budgeting purposes or for tracking spending? Seems like an extremely easy platform where you can track and edit categories on a daily/monthly basis.
Posted by AA7
Birmingham, AL
Member since Nov 2009
26704 posts
Posted on 7/30/20 at 10:22 am to
I use it. Takes a little but of work on the front end getting the categories set up the way you like them. Some things will probably be in the wrong category, but you can easily edit that so they are correct going forward.
Posted by tduecen
Member since Nov 2006
161244 posts
Posted on 7/30/20 at 10:28 am to
I used it, I hated it kept disconnecting from banks/credit cards and having me log in every day. Then it kept putting the wrong categories on certain purchases and having to go back and manually change everything. I ended up deleting it since it was supposed to be a simple way to monitor my spending but because a pain, especially if you forget passwords/usernames.
Posted by mule74
Watersound Beach
Member since Nov 2004
11303 posts
Posted on 7/30/20 at 10:44 am to
I find it better as a weekly/monthly check in tool on our savings and net worth. As another poster said above, it can be a pain in the arse for budgeting.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
35353 posts
Posted on 7/30/20 at 10:50 am to
I use ynab and I love it.

You get connection issues from time to time but I think that happens to every linked budgeting app
Posted by Special K
Member since Jun 2011
1101 posts
Posted on 7/30/20 at 10:53 am to
I used it but had the same issues with it not syncing up my accounts and putting purchases in the wrong categories. Also, they have not fully deleted my account, every couple of months I get an email saying they are working on it. I just use excel now
Posted by seawolf06
NH
Member since Oct 2007
8159 posts
Posted on 7/30/20 at 11:55 am to
It's a great tool, but it does take some effort for maintenance.

The connection issues are typically due to the bank, not Mint.

You do have to review your transactions to make sure it's allocating correctly. Mostly it will learn on its own and some you need to setup rules for.
Posted by Phate
Baton Rouge
Member since Mar 2006
11724 posts
Posted on 7/30/20 at 2:34 pm to
I use it. My wife wants something easy she can use on her phone and Mint already had all of our accounts. Once a week I look through our transactions and make changes if something was categorized incorrectly.
Posted by rowbear1922
Lake Chuck, LA
Member since Oct 2008
15167 posts
Posted on 7/30/20 at 2:45 pm to
It took me a month or two to better understand where my money was going but I love it now and try to ensure I stay within budget monthly.
Posted by BayouWrangler
Member since Feb 2011
1231 posts
Posted on 7/30/20 at 9:30 pm to
I’ve been using it since 2010 and have only had bank connection issues on rare occasions seemingly after updates. It becomes a real powerful tool for net with tracking and trend tracking on your spending habits over time. e.g. I can look back at December for the past ten years and see how much it costs to have kids during Christmas.
This post was edited on 7/30/20 at 9:31 pm
Posted by B4YOU
Member since May 2018
344 posts
Posted on 7/30/20 at 10:05 pm to
I’ve used it for years. The budgeting tool is ok and it’s free. If I put more effort into it, I might like better. I found it helpful on tightening my belt on a few specific spending habits (eating out, amusement) and haven’t needed a more robust tool.

It’s the other features that make Mint great. I really like the ease of use for tracking accounts, net worth, cash flow, etc. If you have variability in income, then Mint’s being able to track income, spending, and cash flow might be useful for you.
Posted by TigerGrad2011
Member since Aug 2016
1578 posts
Posted on 7/30/20 at 10:39 pm to
Anyone have other options they suggest trying?
Posted by B4YOU
Member since May 2018
344 posts
Posted on 7/31/20 at 6:51 am to
YNAB is another option.
Posted by Pintail
Member since Nov 2011
10460 posts
Posted on 7/31/20 at 7:03 am to
The biggest issue I find is you can’t budget ahead of time. Mint only trackS the current month.
Posted by msutiger
Shreveport
Member since Jul 2008
69630 posts
Posted on 7/31/20 at 8:19 am to
(no message)
This post was edited on 4/12/23 at 2:36 am
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