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The Mint Budgetting Tool
Budgetting with Mint.com
If keeping track of your finances has been a problem for you in the past this online tool may be just the ticket.
Mint.com is a free online service which offers a pre-set budget sheet, email alerts, visual pie charts and graphs. The tool shows you exactly how you are spending your money each month. The really nice things about Mint.com is that you can add to or change the categories to meet your own needs, the charts reflect how and where you have spent your money. It can roll over underspends within a given category and alert you to overspends.
If you are concerned about inputting your bank account and pin number satisfy yourself first that the security features meet your own requirements. I decided to sign up for Mint.com after talking to a colleague at work who is incredibly security conscious. He researched and reviewed mint very thoroughly and I trust his methods enough to follow.
Signing up at Mint.com
Click on this link for an overview of how mint work https://wwws.mint.com/overview.event
Basically once you feel comfortable that this is right tool for you enter in your bank account and pin and Mint.com connects to your bank account.
If you are not comfortable perhaps review what the tool offers and set up your own if you are tech savy. However, if you do go ahead you will have access to an automatic picture of what your spending looks like today and this will help you plan for how you can manage your hard earned income better or make that dream vacation closer to reality.
Understanding where our overspends are, even when they are on essentials such as food and rent is going to help in the long term. As Charles Dickens wrote "The most important thing in life is to stop saying 'I wish and start saying 'I will'. Consider nothing impossible, then treat possibilities as probabilities" David Copperfield.
Being on top of our spending rather than wishing we had more money will bring greater happiness and less stress. When there is less stress we start to see where and how more money is possible. Stress tends to lead to overspending on things which bring short term comfort such as fast food, cigarettes and alcohol. This in turn creates further spiraling of not being able to manage monthly bills and the cycle continues to gain negative momentum.
If Mint.com is not right for you consider an alternative method to help you manage and take back control of your finances. You CAN do it.