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Post a CommentI just finished reading the new on Intuit buying Mint.com for $170 Million. Wall Street Journal is reporting that both brands will continue and that they will serve slightly different markets.
Personally I think this can a great thing for people looking at handling their finances. I have used Quicken before for my tracking my finances. I currently use Mint to keep tabs on spending trends on our accounts. I find Mint a very useful tool and recommend it to my family and friends.
Both have some great features for users looking at improving their finances.
Quicken Online Features
- Easier online banking for all your accounts
- Set up reminders to avoid being late on bills
- Community with money saving tips
- Track what you spend with cash
Mint Features
- Easy set up for all your accounts
- Sync up your account information and data
- Trends tab allows you to see where you’re spending your money
- You can create a budget and receive email or texts on your spending
Shortly after reading the link from Twitter, I noticed this tweet:
@quickenonline: Mint.com and Quicken Online will remain free.
A big relief and I look forward to seeing how this unfolds.
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Congrats to Mint on their success, it’s great to see a peer in the industry have such success, it is a great tool. There have been mixed receptions on comments across the internet for fans of Mint who don’t like Intuit. There are other options for those out there such as Budgetpulse.com (Disclosure: Marketing Director of the tool so of course bias). Hopefully for all their users they keep the tool free, but just because the announce that now, doesn’t mean they won’t turn around and change it within a month when the deal is put through. Changes are always made.
Thanks for sharing your thoughts on the topic, especially since you have some professional knowledge. I’ll be watching for what changes (if any) will be made with the tools.
Laura, do you have any thoughts on the effect that mergers like this have on industry competition?
It’s one less competitor in the ring, but I know a few companies will try to exploit this. As Craig from Budget Pulse pointed out, these are the only two in the industry. Let’s see what happens.