Why Do People Think Mint is Bad For Budgeting

One of the well known online budget and expense tracking app is Mint which allows you to track your money transactions from home without any trouble. Mint was formally introduced in September 2007. In November 2009, Intuit purchased Mint for $170 million. At the time, Mint had more than 1 million clients and was including a couple of thousand new clients consistently. After four years, Mint has more than 10 million clients. It can be used for checking your financial statements, savings, credit card bills, monthly and yearly incomes, future goals involving money, and funding for trips and hotel bookings.

Advantages of using Mint.com

  • As this is budgeting software, it notifies you every time you are due to pay a bill or payment which ensures you don’t end up being penalized for paying fees lately.
  • It helps to guide you in making the perfect financial statement for you bringing out every scope for you to spend and save as well.
  • You can keep a look on your daily expense and if you have a future goal of buying something, you can reduce your current spending according to it.
  • It is easily portable and you can track your money records through phone, tablet, laptops etc. So even if you are on a tour, you can track your transactions.
  • It keeps a track on your credit bills, home bills, savings etc for you.

Disadvantages of using Mint.com

Although the Mint.com has some great advantages but there are some disadvantages too which is making people lose trust over the app and ending up calling it bad software for budgeting.

  • There is not guaranteed security in this online software. com could get hacked and the cyber hackers can get hold of all your financial information. The only thing the hacker needs to do is get your password and to be honest, it is not that hard to get.
  • People don’t feel the necessity of an online finance tracker and they are good on their own.
  • They are more loyal users of other online budgeting sites like Quicken or YNAB.
  • There is sometimes a necessity of keeping a manual transaction record. Mint does everything through automated calculators but it sure has some flaws now and then causing you to lose track of your real money matters.
  • The site is full of advertisements of their credit cards and software. You would end up getting lost in them and being unable to put any digit in peacefully.

These are the basic reasons causing Mint to lose customers even though they provide quality service. If these issues are fixed soon they will be able to gain back their popularity as an online budgeting site.

Tips for Young Married Couples When Buying a House

Young married couples have already started a new life and they are excited about settling down and having a family. Buying a house is the biggest dream of any young couple because they will always need a place they can call home. However, when they actually get down to buying a home, they find it an extremely challenging and stressful task. They have to take care of several things like credit score, eligibility criteria, down payments, taxation and on top of that go in search of a property that suits their budget and needs.

Buying a home can be a daunting task because it is a major decision that a young couple takes after getting married and both need to be on the same page to ensure an appropriate choice. Here are some quick tips that will make their task less-challenging and fun:

  • Check your credit score: Credit score plays a vital role in deciding whether you are eligible for a housing loan or not. Banks follow a very strict procedure when it comes to approving loans and the first thing they consider while making a decision is your credit score. You can’t expect to get a housing loan if your credit score is in shambles. Thus, You will have to check your credit report for unpaid accounts or collection accounts or mistakes and rectify anything that can adversely affect your credit score. If you have a damaged credit score then you will have to invest some money and time to get it rectified.
  • Check the property before applying for a loan: Your new house will be your only place for the rest of your life, so be very careful in choosing one. Young couples often tend to disagree on several things but when it’s their house, they need to be on the same page. Finalize a property when you both find it appealing.
  • Get the Documents right: You will need to furnish several documents to the bank before they approve your loans, so you will have to be ready with those when the time comes. You will be asked to provide your bank statements. Pay slips, tax documents etc.
  • You’re in it for love: In all the hustle-bustle of buying a house, you may often forget that your house is the symbol of your love. Do not lose faith on each other because of petty differences. Keep in mind – you’re in it for love.

Love Birds Love Saving

Valentine’s Day is right around the corner. It is not just the perfect opportunity by sweet candy and delicious chocolate for your loved one, it is also another chance to spend some money!  But here is the good news; you do not have to break the bank to show your significant other how much you care.  Give this list a good once over and you will walk away with some sweet ideas.

1. Be Crafty

Homemade gifts can mean so much more than something store bought, so be creative and get crafty!  Try using a free photo editing site to do something cool with a picture of the two of you. Make a coupon book of sweet and/or romantic requests.   So have fun with this one! Check out Pinterest for some other awesome ideas.

2. Bake Away!

I do not care who you are, cookies, brownies, cake, or any other sugary treat always hits the spot.  Break out a new recipe or an old favorite and bake up some love for your love.  Someone mind passing this tip on to my boyfriend?

3. Everyone Loves a Good Movie

You and your love bird have probably seen at least 3 movies together since becoming an item.  Renting a movie on Red Box or through Netflix is inexpensive and a great way to just spend some time together.  You will make popcorn, hot chocolate, and some great memories.

4. A Walk Down Memory Lane

This tip is definitely more for the couples who have been together for at least a couple months.  Take your significant other on a walk through your relationship. Go to the place you first met, then your first date, then to the last place you were together.  You do not have to buy anything, just talk about the good memories you have from those places. You will laugh, maybe even cry, but you will definitely make some good memories.

So happy early Valentine’s Day to all the loves birds out there and give these tips, one or more, a try. Let me know how it goes!

I Love It Not…

Valentine’s Day, for some, is fondly referred to as Single’s Awareness Day. So what do all singles people do on Valentine’s Day? Well, they can wallow in self-pity or bitterness, or they can do something that shows how much they care about themselves.  What is even better is that it can be inexpensive too.

1. Polish Party.

Get a few of your single girlfriends together, bring all the nail polish you have, and take turns giving each other mani’s and pedi’s while bad mouthing all the boys who have done you wrong and what celebrity got arrested the night before.  You will not only get some polish powered confidence, but some much needed girl time therapy.  What will this cost you? Nothing, unless you need to pick up some new polish!

2. Bubble Bath… That’s Right.

Stop by your local bath and body shop and pick up some bubble bath in your favorite scent.  Nothing says relaxation more than a bubble bath.  Now light some candles, grab a book, or just turn on some soothing music and take some time for yourself.  The max this one will cost you?  $15. Try it out, you will not regret it.

3. Need a Good Cry?

Pop in Dirty Dancing or Marley and Me and enjoy some of what I so fondly refer to as movie medication.  Get your favorite drink and snack ready. Put on those pajama pants that fit just right and those fuzzy socks that you love so much and over medicate yourself to your single heart’s content.  Using Red Box?  This one will cost you a max of $5 for the movie and $20 for your drink and snacks.  Indulge a bit.

4. Go Home!

If you are a college student like me and going home is a rare luxury, plan ahead and make the trek back home.  Be around people who truly love you, aka, your parents!  If your parents are like mine, they will smother you in hugs, candy, and free food (something every college student loves.)

 

Valentine’s Day does not have to be Single’s Awareness Day.  Make Valentine’s Day about you, and tell Single’s Awareness Day where to shove it.

Turning Hobbies into Cash

College is full of shuffling between classes, writing papers, working, spending time with friends, and trying to find time to breath amongst the hustle and bustle. Trying to get in a decent amount of hours at work during the week while still trying to get in enough time to study can drive even the sanest person to the brink of insanity. And usually, the job really is not even something you like very much. If you are not stuck behind a greasy grill all day, you could be stuck stocking shelves at some big block store. Have you ever thought, “I wish there was a way I could do something I actually like?” Or maybe, “I wish I could do something that would make me more money, but take less time?” Well, I have good news for you! Every college kid has at least one hobby that can be made into a money maker with a little work. Here are just a few ideas to get you started:

1) Write

Writing can be a huge money maker for students, especially students who are studying journalism or English. Newspaper, magazines, online blogs, and more all offer freelance writing jobs. Freelance means you are not on contract with the group, company, or organization and can write about whatever you want. You can also, however, take on a writing position in a company where you will be given assignments to write. Begin a successful blog! Once you have a loyal fan base, you can begin putting advertisements up. Every time a reader clicks the blog, you make money. Often times student newspapers on college campuses also pay for writers. Making money writing is all about how much you put into it. Plus, writing experience looks great on a resume. Writers can make anywhere from $5 to $15 dollars an article.

2) Babysitting

Do you like kids? Maybe want to own a daycare someday? Then babysitting is a great fit for you. Not only will you be gaining experience to build your resume, you will be making money. Babysitting allows you to set your own hours and your own hourly wage. Also, babysitting allows a lot of downtime, which means extra time to study or just relax. If you want to look like a real professional, take a babysitting course at your local Red Cross. This course will certify you in CPR, the use of an AED, or automatic external defibrillator, rescue breathing, and other lifesaving maneuvers that will make you look that much more appealing to any parent.

3) Crafts

Do you feel content with a needle and thread in your hand? Do you spend your free time picking out the best colors and designs for necklaces? If your passion is handmade crafts, then your passion has money value. Etsy.com is the perfect place to begin posting your crafting skills to sell to the public. EBay would also be an excellent source as well. If you are confident in your abilities as a crafter, put them to the test on Etsy or ebay. You can set your own prices and work up from there!

4) Tutor

Are you proficient in business calculus? Is sitting through Spanish class a walk in the park? Do you offer your helpful services to friends all the time? Then you may be just the help that someone needs. Better yet, you are help they are willing to pay for. Start advertising your skills and tutoring services and watch the academically in need flock to you. Schools often times will pay you to tutor for them as well. With tutoring, you are able to set your own prices either per hour, per session, or per day. Schools will usually pay minimum wage or slightly more. If you are good at what you do, your students will advertise for you by boasting about the A’s you helped them get!

5) Cooking or Catering

If you are a culinary or bakery student, or just someone who has proficient knowledge in the kitchen, cooking and catering would not only be a fun way to make some extra cash, but build your resume as well. Hold a taste testing party, offer free samples to local businesses, and send letters with your business card, price sheets, and menus. If they like what you do, you can expect calls as soon as a week later. Who knows? This could even become a future business venture. The opportunities are endless!

Hobbies can become opportunities with just a little time and effort. Opportunities that can make you money and can even make you a future career. Build your resume, build your bank account, and build onto your future goals. The opportunities are there, now go get them!

Party On!

Do you have any big parties coming up? Birthdays? Social Events? Anything?  Well, whether you have a reason or not, throwing a party is always a great way to get together with some friends and family. Parties are not always cheap, but with a few of these money friendly party ideas you will have some great inexpensive fun in no time!

1. Game night!

Be a kid again! You would be surprised at how much fun those old board games or other games can be.  Apples to Apples, Monopoly, video games, even hide and seek all bring back some good memories and a lot of fun with them.

2. Creativity Time.

A few friends of mine came up with this idea.  We got together with our old bikes, searched Craigslist for other bikes, and went to pawn shops and looked for bikes.  In other words, we had a lot of bikes.  Each of us then bought a can of glow in the dark paint. We spent the day together painting the bikes, and then went riding through downtown that night.    It only cost us about $25 each to buy the paint and get used (or our old) bikes. So come up with something creative!  It might not be as cool as our glow in the dark bike riding crew, but that’s just how we roll. Pun intended.

3. Cookie Trade Off

This is a good one for those with a sweet tooth.  Everyone who is invited to the party bakes enough cookies for each person to have at least 2. They then bring a copy of the recipe and everyone tries each other’s treats.  You not only satisfy that sweet tooth that you undoubtedly have but you add to your cookie repertoire.   How much will it cost you to bake a batch or 2 of cookies? Around $20, unless you pay attention to stores with good sales who do ad matching!

 

These are a few simple ideas that will get you started.  Do you have any ideas for awesome parties? Comment below and let’s hear ‘em!

Home Is Where The Heart Is

Are you searching for an apartment or place to live?  Do not let your pocketbook be the only thing that holds you back.  There are a few very important aspects that you need to remember when picking out a house or apartment that can end up saving you and your pocket book a little bit of stress.

1. Home Improvements

Does the house or apartment need some tender loving care? Or more like some major repairs?  Either way, hope is not lost.  Take a look at what you will have to spare after you buy the home or apartment. Will there be enough there to make the changes you want? Changes that will really make you happy with this place and make it a home? If yes, sign on the dotted line!  If no, do not stop the search quite yet.

2. Location, location, location

If you are a college student, think about public transportation, work, and class. How far away are you?  There is no such thing as too close but there is such thing as too far.  You do not want to overdo it on gas money, nor use all that time commuting to and from your desired location.  Think about it.

3. Go Green!

Take a look at the environmentally friendly aspects that the apartment already has or can easily be adapted to.  Not only is it good for the environment, but often times going green can also save you some green.  Solar panels? Expensive, but they eventually pay for themselves.

 

Just a couple things to think about ya’ll.  Do you have any tips that need to be shared? Let’s hear them! Comment below!

Just a Tip

Saving money is something we all struggle with from the young age of 16 to the adult age of 50.  After a little experimenting I have found a couple simple and easy ways to save money.  As a college student, these few methods are very simple and very do-able.

Bank Your Change

You may have heard of programs like this on television.  You use your card to make purchases and the bank rounds the purchase amount to the next dollar, putting the difference into the account of your choosing.  For me, the account my change is placed into is my CD account. When starting a CD account, you choose how long you wish to keep your CD untouched.  That means you will be forced to save money through saving your change.

The Jar Technique…

…otherwise known as the literal save your change technique.  I do not like to carry cash, but when I do I try to break it down to as much coin change as possible.  I think put it in an old mason jar and save it to a certain date or till the jar is full.  I also like to put my one and five dollar bills in the jar.  If I have something planned, like a dinner date with friends, a bowling night with family, a car wash, etc., I get the money in cash and put it in the jar as well so that I know I have it when I need it.  If you are like me and spend cash when you have it, the jar technique is an experiment you may want to invest in.

Savings jar
Even spare change put in a jar works for saving.

These are two small and simple ways to save money.  Whether you are a college student scrimping by for loan payments or an adult just trying to save a little pocket change, both these methods are worth your time.  Check them out and let me know how you do!

Rewarding to Shop

As a college student, I am always looking for ways to save money when buying the necessities.  After some major research and personal experience, I have compiled a list of stores that offer some awesome rewards programs. It pays to shop my friends, especially if you shop smart.  Take a look into these programs and give ‘em a try.

  • Target Red Card

This is, essentially, a credit card and if you are like me credit cards are a scary, scary thing.  But Target does have 2 options for their Red Card.  You can use it as is, a credit card, or connect it to your debit card, using it as your debit card when you shop their stores.  Either way you will receive 5% off your total every time you shop. Basically, just a pretty sweet deal all around.

  • Panera Bread

One of the most delicious soup, bread, and pastry restaurants I have ever gone to with an equally delicious rewards program. Just by scanning your card every time you come in, you receive free drinks and food! Free anything is fantastic, don’t ya think?

  • Hy-Vee Fuel Savers

If you are in the Midwest and anywhere near a Hy-Vee grocery store, you must be living under a rock if you have not heard of the Fuel Saver program.  Hy-Vee advertises that through purchasing certain items you can earn discounts towards gas that you can save for up to 30 days from the purchase date.  Costco and other large chain grocery stores participate in gas discount programs similar to this and are definitely worth checking out!

  • Student Advantage Card

This is a student credit card that gives you discounts on a ton of things; flights, hotels, textbooks, and clothing stores being amongst those things.  I have not used this program, but of the friends of mine who have, it has been a great success.

shopping discounts
Many stores offer shopping discount cards

These are just a few examples of programs that can help you save when you shop with them.  Do you know any store, restaurant, or company that offers a rewards program? Are they better than the ones I just listed? Oh yeah? Well, let me here ‘em! Email the store name and website to me including your name and home state to megan@investinged.com with the subject heading of Financial Ed!, and share the discounts!