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0 pointsbusterarm12y ago0 comments

I would say that I found Mint pretty close to useless. I was an early user and there wasn't much good that I got out of it. I have to give it some credit though, because just putting some effort in really helped me get control of my finances at a time when I was really bad at it.

I can say the same for YNAB, which I've bought and since stopped using. I simply don't need it, but it's nice to know that I have it if I ever do. I actually think YNAB's model where you don't get to automatically sync your accounts works better at its goal. These days I have an excellent mental model of my finances at any given time. Eliminating debt plays a huge part in that.

Mint got me to think about my cashflow in a way that motivated me to eliminate the burden of debt from my life. YNAB got me to think about my cashflow in a way that motivated me to control unnecessary spending and use short-term debt where appropriate. It probably could have done what Mint did too, but I was already at that point when I started using it.

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6 comments · 2 top-level

DLarsen12y ago· 3 in thread

I had similar experiences. The real value for a lot of folks would be to develop the proper mindset and decision making process for everyday spending.

I have a hobby project (http://www.spendlight.com/) that's growing out of my own household's efforts to get on the same page with our mental model of our finances. The charts in Mint or the wall of numbers coming out of a typical bank statement wasn't directly helpful for my wife and I to truly coordinate our spending and reach a consensus on what expenses were good vs bad. The more we've focused on our decisions rather than the mere dollars and sense, the more progress we've made in becoming responsible spenders.

Anyhow, I'd love to get more insights from folks such as yourself who were able to get their finances under control. I think a tool that accounts the behavioral realities of our spending habits would have substantial value for at least a handful of folks. Agree? Disagree?

busterarmOP12y ago

I agree. Life is a bit simpler for me being single and not having big recurring expenses (my only monthly bills are rent, phone, car insurance - and I'm getting rid of the car).

I think a tool to show behavior patterns in spending would be immensely helpful. I typically spent very differently when money was tight vs when my credit balances were at $0. It took me a few cycles before realizing that as soon as I had a couple grand in my pocket I'd make some big ticket purchase that wasn't always necessary. In fact, I'm fighting off the urge to buy a new rMBP right now! hah.

I think what you're talking about is a problem that nobody has even attempted to solve yet. I normally spend about $75 /yr on "financial tools" (usually credit reports, fico scores, etc), so yes, I would be willing to spend money on something like that if it were good and could learn & show my patterns over time.

Heck, if it sat watching my browser history and would ask me if I really wanted to buy X when I'm spending too much time looking at it on Amazon, that'd be killer! lol

antonpug12y ago

I'll check it out! Looks pretty good. I'll let you know wha tI think.

DLarsen12y ago

Thanks. You can reach my gmail directly at david.larsen.

antonpug12y ago· 1 in thread

I use Mint moreso for visual organization of sorts. I don't have any debt and pay everything on time regardless of Mint, but it's nice to have a visual representing all your spending, trends etc.

busterarmOP12y ago

That's basically what I used it for as well, but the constant bugs and worries about the potential of a data breach with software connected to my checking accounts got me to stop using it.

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6 comments · 2 top-level

DLarsen12y ago· 3 in thread

I had similar experiences. The real value for a lot of folks would be to develop the proper mindset and decision making process for everyday spending.

busterarmOP12y ago

I agree. Life is a bit simpler for me being single and not having big recurring expenses (my only monthly bills are rent, phone, car insurance - and I'm getting rid of the car).

Heck, if it sat watching my browser history and would ask me if I really wanted to buy X when I'm spending too much time looking at it on Amazon, that'd be killer! lol

antonpug12y ago

I'll check it out! Looks pretty good. I'll let you know wha tI think.

DLarsen12y ago

Thanks. You can reach my gmail directly at david.larsen.

antonpug12y ago· 1 in thread

I use Mint moreso for visual organization of sorts. I don't have any debt and pay everything on time regardless of Mint, but it's nice to have a visual representing all your spending, trends etc.

busterarmOP12y ago

That's basically what I used it for as well, but the constant bugs and worries about the potential of a data breach with software connected to my checking accounts got me to stop using it.

j / k navigate · click thread line to collapse