Updates The Personal Finance Tool problems began… Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mint Published Mar 13, 2007 2 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. It was sometime around Thanksgiving 2005. Holiday shopping was starting – that meant expenses – and it was time for a financial review. Since starting a couple of small businesses back in 1997, I had been using MS Money and then Quicken to manage my finances. Well, maybe “manage” is not quite the right word. I used Quicken to link all my bank, credit card, and IRA accounts so that I could figure out how much money I had and where it all went. Problem was I got busy; I hadn’t kept up with Quicken in many, many months. And that meant trouble. Really all I wanted to see was how much I spent on gas and groceries, and maybe learn if I was buying too many DVDs on Amazon. But to figure all of that out, it was going to take a whole Sunday’s worth of work. Now fortunately I already had Quicken set up. If you don’t, you’ll need to: Drive to Best Buy Buy it for $30-70 Install it Click through no fewer than 29 screens to link just one credit card and one bank (fyi: with Mint it takes ~90 seconds and 2 screens) Even though setup takes half an hour minimum, that isn’t the real problem since it’s a one time thing. For me, it wasn’t even importing data from my online accounts that was problematic. The real issue is that it just didn’t do anything with that data. I could see all of my transactions, true, but in order to see where my money went, I had to sit there and categorize almost every one of them. Quicken auto-categorized maybe 40% of transactions (many of which were grossly mis-categorized), and when I tried MS Money, it was even worse (it got maybe 15% of my transactions). That left several hundred transactions to categorize. I just wanted to see a pie chart of my spending! Also, if you haven’t synched Quicken in a long time, there will be gaps in your history. When that happens, Quicken asks you to manually balance and reconcile your account. It’s a computer program, why can’t it balance things itself? Okay, so at this point I could have invested an afternoon into categorizing transactions. But instead of putting hours of work into the system to have that glorious 5 minutes analyzing a nice chart of my spending, I took a different tact: I started a company to make personal finance effortless. Part two of Mint’s story. Next Post Making Personal Finance Effortless, Profitable, and Free Written by Mint Mint is passionate about helping you to achieve financial goals through education and with powerful tools, personalized insights, and much more. More from Mint Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance