Greetings, Money Mavens!
As a diehard Mint user since the early 2000s, I was very hesitant to try anything new, and I was really going to try to thug it out and go software less. However, if you know me, then you know that did not last long. I craved tracking my finances, and managing my cash flow without having to manually enter data in an excel file. There is a time and place for that and I will discuss this in future posts. However, I needed automation, the ability to budget, to see my trends and track my net worth in real time.
I wanted to update you on my progress in finding a suitable Mint replacement. I've experimented with several options to date, including Credit Karma, Use Much App, CoPilot Money and Rocket Money. Most of these services provide a free trial, which I encourage you to test and take advantage of, but I caution you to add a reminder on your calendars to cancel if they do not meet your needs. So far most of these services range between $10 - $20 per month.
As for me I finally settled on Monarch Money. So far, I have to say I am very impressed with the software. It has tons of bank integrations (which was my issue with some of the others using Plaid as the integrator and not connecting with Fidelity, which is my Brokerage firm) this posed a major issue for me. Monarch also gave us the following:
- Ability to upload our mint transactions via a CSV file. Imported not only the historical transactions but also our mint categories (which was a plus because I spent years drilling down on my income/expense categories).
- The reports are way superior to Mint (feels like a traitor saying this, but it's the truth)
- Not only do they offer Budgets but also the ability to Forecast your Income & Expenses for the entire year.
- Their recurring tab, shows you all your recurring expenses and lays it out in a calendar format; so you can see all your upcoming expenses by date, at a glance.
- As with mint, you can set goals, track your investments and get advice for Certified Financial Professionals.
Needless to say, I AM IMPRESSED! If you'd like to try it out for yourself, they have offered me a code that will give you and extended 30 day trial. As you may know, I am a nerd about these things, so if you decide to give it a try and want some help getting it all set up, leave a comment on this post and I'll be in touch.
I'll leave you with this verse Luke 16:10 says, "Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much".
Make wise decisions ya'll.
Till next time.
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