Millennial budgeting: Using to help manage your finances

Lauren Yanow

As a recent grad with my first job, I’m currently living at home.

But I have one goal: I want to move out by January.

This means I need to start thinking about my finances differently. I need to see where all my money is going. Ahh! The horror!

But, a free website, is helping me track, budget, and manage your money—in ways that I never thought possible.

Here’s a 10-step guide for setting up an account:

Getting started

First, enter in an email address and a password. Notice that never asks for your full name or address. This is a safety precaution. You’ll learn why in the video below.

Loading your account information

I was worried about putting all my bank information online. But is a credible site. It needs your account information so it can track your charges. After you make an account, has banks listed for you to choose from. All I had to do was choose my bank and enter my online account log in and password.

Adding other accounts has space for you to add many other items, as well. If you have a credit card (something I will be getting soon), you can add that in. You can also include loans, real estate properties, and cars. will help you keep track of your bills and help you manage your payments.

Include your credit score offers you two websites to choose from to get your credit score. When you include your credit score, will help you make responsible choices to improve your credit.

Complete your profile

It’s important to fill out the profile, so can understand your spending habits. It includes basic information, such as age, gender, and marital status to education level, profession, income range, and residential status.

Set financial goals helps you save your money to reach your financial goals. On the, you can either choose from its goals of: debt and loans, saving for emergencies, retirement, or college, buying a car or home, or saving for trips or home improvements. There is also an option to create your own goals. I simply went in and made an “I want to move out—now” goal.

Organize your transactions

This can be a very daunting task. can look at your bank statement and categorize all of your spending. So, when it sees that I spent $30 at Nordstrom, it categorizes that into shopping. If you disagree with the category it has put your transactions in, you can manually change them. These categories will come in later, when you are planning a budget.

Adjust your income

After selecting the budget tab, you  need to update your income. Make sure you edit the details to reflect your monthly income, after taxes are removed. In order to make sure this is accurate, you need to go to your transactions and find all of the transactions from paycheck deposits or direct deposits. Make sure they are categorized under “paycheck,” so that will be able to keep your income accurate.

Learn to budget

This is where you are able to visualize where you are spending your money. This part is kind of fun. Well, until you realize that you are spending way too much on caramel spice lattes at Starbucks. There are so many choices of what to include in your budget. I decided to focus on the big areas where I spend my money (alcohol and bars, coffee shops, restaurants, and shopping/clothing).

Let do the work

Mint has a lot of other great features. It also sends you emails or texts to alert you when your balance is low. It also have a fraud protection plan, which will alert you if they feel your identity has been stolen. There is also an app so that you can track your money on the go. I’m addicted.

Worried about privacy? has a pretty robust privacy policy. Check out the video below.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s