Hi all, Thanks for all the tips on my home finance management thread. Most of you mentioned mint.com for a finance software. I used to use quicken a while ago and then stopped using it when I moved to india since quicken doesn't sync with indian banks. After coming back, I do the basic excel sheet. Now its becoming a laborious process and I need another software. I thought of quicken again but reading the latest reviews online, I'm not sure about it. I liked the mint reviews but am sceptical of anyone storing my banks userid and pwd on their servers. I liked the moneydance reviews. It seems to be quicken like but with lesser bugs. I saw mixed reviews for iBank. I would like to see what your personal experience has been with either of these softwares. I am only interested in monthly income/expense tracking and basic budgeting. My dh does everything else with our financial planner and I don't want to take over all that. What do you guys recommend? Thanks, Laks
Laks, We've been using mint.com for years and loving it. We haven't had any issues with it so far. We don't sync our investments, just the bank accounts are connected. Even then, mint cannot access the money in your bank accounts. It can look at only the expenses. We compared various software before going forward with mint.com. We found mint.com quite simple and secure to use. I don't have experience with other software though.
Uma, Thanks for your input on mint. I'm a software developer especially working on security and data security so I'm really sceptical on giving my banks password to mint to store somewhere. I know nothing bad will happen but if it does and a breach happens in one of the mint storage servers, I don't see how someone cannot use my bank login and proceed to transfer funds. I didn't get a sense that mint safeguarded me in such a situation. Mint didn't specify anywhere that in case of a security breach it takes liability for anything. Security breach is unfortunately not something that we can predict. I just wanted to err on the side of caution. I definitely will consider mint if I don't see fair reviews for other desktop softwares that I can control access.
Laks, That;s always a possibility. Please do post here if you find any tracking software that doesn't have this issue.
