Using Mint.com As An Excellent Financial Dashboard To Think And Act Like The Wealthy

Mint.comI’m A New Fan Of Mint.com

Several years ago, I heard about Mint.com but never really took the time to dig deep and discover what this website was all about.

So, why didn’t I?

Like many financial websites, I assumed it wasn’t really going to change much of my current financial process of budgeting, saving, investing, and debt-free living. For many years now, I have been disciplined in my finances, so I wasn’t seeing the need to throw one more layer of personal finance tracking into my current process.

But a few months ago, through the encouragement of some friends of mine, I decided to give Mint.com another look.

Now I get it.

I’m not sure why I didn’t understand the beauty of this site five years ago. Because we now live in the age of electronic banking, we all have website accounts that need to be monitored. These websites include multiple bank checking and saving accounts, investment accounts, credit card accounts, and perhaps other loan accounts such as student loans.

So, once I actually took some time and plugged all my electronic accounts into Mint.com, I began to see the beauty of the website. Mint.com became my own personal finance dashboard. Instead of visiting all of my accounts individually, I could have a snapshot of my family’s financial health in one convenient website.

As I was reviewing my financial dashboard the other day, I had this thought:

Used correctly, an account on Mint.com can help people to focus on three important principles of the wealthy.

3 Important Principles Of The Wealthy

Source Note: These three principles were taken from Rich vs. Poor People Principles by Harv T. Ekker.

  1. Rich people play the money game to win. Poor people play the money game to not lose. With the way the financial dashboard is set-up on Mint.com, it has a quasi-game feeling to it. And, if you are the competitive type, I can see the dashboard having a unique way to encourage you to pay off debt, save, and invest.
  2. Rich people focus on their net worth. Poor people focus on their working income. Due to the nature of this financial dashboard, you have a clear picture of your net worth. Mint.com automatically adds up all your assets and subtracts your liabilities, leaving you with your net worth at the end. Mint does a great job with this wealth principle. I’ve enjoyed watching my net worth grow each month. Thumbs way up!
  3. Rich people manage their money well. Poor people mismanage their money well. At the end of the day, Mint.com is a great tool to manage your personal finances well. Now, you still have to put work into your personal finance management. Mint doesn’t do this management for you automatically, but this website sure can help you become a better money manager.

I realize that not everybody out there is as detailed and compulsive as I am regarding stewardship and personal finances. I am always on the lookout for new ideas and great tools to give me an even greater edge in this area of life. Mint.com is one of those tools to give you an advantage in living out the principles of the wealthy.

Questions: Do you use Mint.com in your personal finances? Why or why not? If you do use this service, do you agree with my assessment of the manner in which it helps you focus on these three wealth principles? Why or why not?






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