Since I recently wrote a comprehensive Mint.com review, it only makes sense to write a Mint iPhone app review! The Mint iPhone app is an excellent companion to Mint.com, the popular free personal finance software program. The iPhone app is also free and provides features to review your checking and credit card transactions, monthly budget, cash flow and investment balances. Let’s dive in and take a look at some of the features.
Security
As a nice security feature, you can create a 4 digit code when you set up the Mint iPhone app. The security code provides extra privacy protection in case you lose your phone. If some finds your iPhone they won’t be able to open the app and review your financial information without knowing the 4 digit code.
Accounts
The Overview page shows your total balance for accounts and any credit card debt. You can then go to the account details and see individual account balances. If you select your checking account, for example, you can see each transactions that have downloaded from your bank. The set up screen provides you the ability to add or remove accounts you don’t want to see.
Budget
After you set up your budgets with Mint.com, the iPhone app budget feature shows how much money you’ve spent within each budget and how much you have remaining. Once you select a budget you can see all the individual transactions and the details such as as date, description, notes and tags. You can also edit these details for each transaction.
Cash Flow
The cash flow feature displays how much money you’ve spent by categories Mint auto assigns or you manually assign online. It also shows all the Merchants and how much you’ve spent for each in the current month. You can also drill into these categories and merchants to see the individual transactions and edit the details as described above in the Budget feature.
Investments
From the Overview page you can also see your investment totals for all the investments you’ve set up at Mint.com. The iPhone app provides the ability to review the balances for each indivdual investment once you click through the Overview screen.
Alerts
If you’re taking advantage of the alerts feature with Mint.com you can get them all delivered to the iPhone app which is a convenient feature. The app provides an alert inbox with different alerts color coded to quickly review the ones that are most important for you.
Final Thoughts
Overall, the Mint iPhone app provides handy information for reviewing your accounts and budgets on the go. It’s definitely not a stand alone product so you have to sign up for a free Mint.com account to do most of the set up. But, once everything is set up, such as your budget, you can easily see remaining money for each budget category which is handy to have on the go. The biggest drawback of the app is the inability to enter transactions. You have to wait for them to show up in the app after they’ve posted to your checking or credit card account.
Are you using the Mint iPhone app? If so, tell us about your experience.
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