iPhone App: Mint

February 5th, 2010

= 4 stars

Keep better tabs on all your hard earned money with this financial services aggregator app.

The Good

• Solves a common problem: you have several financial accounts, and are losing track of what’s where. Mint pulls all your financial information into an easy-to-understand web interface and this iPhone app, providing the big picture.
• Straightforward setup with the most tedious part, entering in login information for several accounts. Along the way were welcome reassurances that the process wouldn’t take long, and the whole set-up is secure. The iPhone app includes a PIN to prevent prying eyes.
• You can set up a monthly budget on the Mint website, and the iPhone app will alert you when your spending drifts out of line.
• In-app alerts whenever you receive an avoidable fee — I got one in regards to a non-bank ATM withdraw (yeah, that was bad), and an annual credit card service fee (maybe I should get a new card). I can already see where Mint can help me save money.

The Bad

• Doesn’t update quickly enough. The process of checking each of your financial websites can take minutes. Don’t expect to your minutes-ago ATM withdraw to appear instantaneously.
• Mint relies on each service to play nice and allow access to your information.
• Doesn’t let you perform transactions. You won’t be able to move money from one pile to another with this app.

Conclusion

Although I wish it updated faster, the Mint iPhone app definitely makes me feel more on top of my finances. Recommended.

iTunes App Store Link: Mint.com Personal Finance — Mint.com