We are often asked questions about personal finances. Most of them are around budgeting, wealth accumulation and keeping track of information. There is always a balancing act between effort and cost. Most people are not accountants and do not want to spend their free time doing bookkeeping functions. So we are always looking for better ways to help our clients. Well, mint.com is a cool web based tool that may help make these functions significantly easier and at the low price of free.No single tool can do everything, but mint.com has a nice set of functions. It is designed to be a “rear view mirror” of what transactions have taken place. It has a simple way to automatically pull data from your bank and credit card accounts. It does a a nice job categorizing the expenses with a limited amount of user interaction. I think the most functional piece of the service is the ability to set up budgets and alerts. This is pretty powerful in sending you information when spending gets out of whack or there are irregularities. They also have some pretty impressive iPhone and Android mobile apps to help you manage your finances directly from your hand held devices.
Mint.com is definetely worth taking a look at. There are number of reviews posted, so do your homework. Click here for a one such review which outlines more of the specific functionality and pros/cons of the service.