Sunday, May 3, 2009

Mint.com



I'm into money. I'm also into technology. Bring those two things together in any capacity and its pretty much bliss for me. I believe that in order to save money you need to know where it is being spent. Online banking makes this really easy, but websites like Mint.com make it even easier. Mint enables you to import all accounts and out pops one really really scary pie chart of all of your spending. It took me less than 2 minutes to create a profile, with accounts! I didn't upload all of mine, just my checking and my one and only credit card. You can also include your 401k and student loans... I did without that feature for now, don't need my student loans in my pretty pie chart quite yet! (defer. defer. defer... who's with me?)

So, for the sake of full disclosure.... here's my personal pie chart for the month of April.

How scary is that? Seriously. First of all, I spent $1455 last month? On what exactly?
Apparently to-go espressos, clothes, and going out. FYI: "uncategorized" stands for late night ATM withdrawals. It can also tell you where you visit the most (Starbucks) and where you spent the most (Anthropologie). My percent breakdowns were 33% shopping, 27% in "uncategorized" ATM withdrawals, and 23% on Food and Dining.Yup, that sounds about right.

I highly recommend you join and find out what your Mint.com pie chart says about you. Now that I know where my weaknesses lie I'm going to be more cautious. Am I going to give up my espressos to-go? No. Am I going to try and cut that 33% in shopping down to 15%? Yes. Remember : You gotta know where you spend to know where you can save!

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