If you’re reviewing your transactions each week or month to check for anything unusual you can do this at the same time. One can, of course, re-categorize transactions and indeed one should. One would also find that the “trends” pie chart becomes over-weighted to this incorrect category. If your rent gets miscategorized as “shopping” then suddenly you get an alert email that you exceeded your budget or had unusual spending in that category.
For example – those spending alerts mentioned earlier. The fact that Mint does a poor job categorizing your transactions is a source of problems in a lot of areas. Mint’s more advanced features like budgets and trends generally need good data about your transactions, including categories. Though Mint claims there is a learning algorithm in place to learn what a merchant is, you might find yourself having to regularly categorize the same merchant every month. It generally relies on the merchant’s name rather than the merchant category code that you would see if you logged into your credit card’s website. Mint doesn’t do a very good job categorizing purchases. The budget feature is also decent but, like trends, relies on having accurate category data in order to be useful. Mint does an OK job at tracking trends over time (the less specific the trend, the better). This makes it easy to know how much cash you have on hand and to monitor for suspicious activity on your cards. Rather than logging into each bank you do business with, you can log into a single app or website and view all of your transactions.
works best when used as a tool to monitor a lot of accounts in a single location. More advanced features include budgeting and trend-mapping. Mint gathers all of your transactions from all of your accounts so you canįilter, search, and sort everything in one place. Is free to use and generates money by suggesting products and services to you (they get a commission when you, forĮxample, open a credit card they recommend). Intuit's is a financial management website that offers a variety of tools to track and manage your finances. Is your personal information safe on website? Intuit Mint review, financial software customer complaints for 2023.
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