If you ever wished for an easier way to figure out what you should do to improve your financial health– stop what you’re doing and read up!
Maybe you’ve heard me talk about Mint’s website and mobile app and how it helped me create and stick to a budget during my wedding and after (link to past videos). I’ve always been a fan of Mint, and now with new iOS app redesign, better features and data-driven MintSights— or Mint Insights, it’s even easier to stay on top of your savings, expenses and budgeting.
This app update will help you have a healthy relationship with your money money money, reduce stress and ultimately, understand how to make smart financial decisions.
The truth is, I’ve been compulsively keeping a budget since I got my first job in high school. In other words, I always made it a mission to spend as little money as possible and save in some areas. But, I wouldn’t call that a “budget.”
I would still make impulsive decisions and often scramble to pay sky rocket rent after I moved to New York City and let’s just say LA is not any better. Unfortunately, I never had a true system or a way to track things, or any real data. Luckily, the technology has improved a lot over the years and all the information is at your fingertips. It’s like a financial advisor- but at your fingertips- the Mint app will crunch your financial numbers and give you a personalized recommendation. Now who said technology and finance was scary?
You can download an app and you’re set.
With this refresh, Mint now offers a simplified view of what’s important with your money:
- Know where you stand with your current net worth and updated credit score in an instant
- Full visibility to all your accounts, bills, credit score, budgets, goals, and more, in one centralized place
Something that really speaks to me, Mint helps unlock powerful money insights and money-saving offers personalized to your unique situation at your fingertips.
PROTIP: One of the worst things you can do with your money is ignore it. But if you’re not paying close attention to your spending, that money could be gone just as quickly as it hit your account.
They put your data to work by assessing your financial profile and providing you with exclusive MintSights you could act on. The app gives you confidence (like a affirmation in the form of email alerts) that you’re on top of your money and make smart everyday decisions to save more, so you are empowered to live the life you want while staying on track to meet your long term financial goals.
Stay on top of your finances with timely email alerts that notify you of potential late fees or unusual charges. A weekly summary email of your money will help you understand how much you can spend the following week.
See my bills
Track and pay your bills in one place. Get reminders and see your actual due dates and amounts. Your list automatically updates to show what’s paid and what’s not.
As Mint gets to know you, they’ll begin to offer easy-to-follow advice based on your lifestyle and goals. They’ll help you identify savings opportunities and make recommendations on what to do next. Based on your MintSights, the app helps you find the best money-saving offers from their trusted partners.
Credit is a critical part of your financial picture. They’ll help you get your score, understand what your score means, show you how to improve your credit, and help you keep your credit safe. The best part? It’s free.
Create a budget
As dull as it may seem, creating a budget is crucial. Personally, I use Mint for budgeting, sometimes to pay bills, to keep track of my investments, student loans and often, I use it to track or pay down debt. I have one credit card left and then I’m debt free thanks to the Insights.
The app categorizes your spending into several categories and calculates your average monthly spending for each, which becomes your budget. There are charts and graphs which make it easy to see where you stand at any given time. They’ve also selected a few categories where you can begin saving. If you’re spending too much already, you’ll can reduce the limits. For example, I gave myself a monthly budget of $150 for dining, but exceeded it and changed my budget. Based on the average amount that you spend in each category, the app sets a target for you to cut back 20%.
Try it, and see how much is left each month then you can adjust and set goals. So whether you want to pay off student loans, buy a home, or save for retirement, the Goals feature will get you to your dreams.
They bring together a high-level view of your investment accounts, so you can chart your progress at a glance.
Ways to Save
They’re always on the lookout for the best offers and savings for you. Within seconds, the app can find the credit cards, life insurance, and home loans that are just right for you—and save you money.
See all your balances—all in one place. The Mint app automatically pull and organize all your financial accounts, so you can finally get the big picture.
The graphs and charts make it easy to track and compare your financial history. Frankly, budgeting was hard for me without the proper knowledge, but the trends portion helps those who like me, get stuck on the numbers– not knowing exactly how much to spend versus save. You know, like that 20 percent rule.
They’ll show you how your spending, income, net worth and account balances change month-to-month and year-to-year.
You can also see how your spending compares to others.
Why it’s good: I’m convinced Mint is the best app out there at the moment for all my needs. It’s an all-in-one resource for managing your money. Sync your bank accounts, credit cards, and monthly bills to one account and get a snapshot of your net worth at any time.
Plus, Mint sends notifications if you go over your budget or if you have bills coming up.
Best feature: You can check your credit score for free inside the app, and get an easy-to-understand explainer on credit.