Keep Track of Your Finances With Mint.com

Budgeting is kind of like dieting--if you don't know what you are spending, you can't start spending less. So if your resolution for 2012 is to save money and get your personal finances in order, then using a budgeting software is a must. Mint.com is an excellent source of FREE budgeting software that is extremely easy to use. Here are some benefits that you may not realize.

1) It's free. There is absolutely no cost to using Mint.com.

2) Keeps track of transactions. Once you populate your account numbers, Mint will automatically import your new transactions.

3) Keeps track of categories. For each transaction that comes in, Mint will make an educated guess as to which category it is for. If Mint is uncertain or picks the wrong category, you can change it as you wish.

4) Allows you to setup budgets. You can set up as many (or as few) budget categories as you would like. Each time you log in Mint will show you in a bar graph how much you have left before you reach the budget threshold for each category.

5) Will send you budget alerts. You can set up alerts so that you are emailed when you are approaching your budget threshold. This is a reminder to curb your spending in certain categories.

6) It sends bill pay reminders. Once you have imported your credit cards or other recurring bills, Mint will send you a reminder when the due date approaches.

7) It allows you to analyze trends. You can compare spending, income, assets, or debts to different time periods. This can help put your spending into perspective.

8) It tracks investments. Once you have imported your investments, Mint will graph your investments for you. It shows whether you are under performing or outperforming the S&P. This is a good way to keep track of how hard your money is working for you.

9) It will find savings for you. Mint analyzes your monthly bills and compares them to the national average. If they find a category where you are overspending, they will notify you. For example, "You are spending 25% more than the average Mint user for auto insurance. Save an estimated $105 by comparing quotes at InsWeb."

10) You can setup goals. Tell Mint what you goal is and how much you can save each month towards it and they will give you monthly reminders. If you come in below budget in a category, Mint will let you know how much time you could shave off your goal by allocating the extra money towards it.

Give Mint.com a try and you just might be surprised at where your money is going!  Click on the picture below to get started.