Intuit Acquires Mint – Pros & Cons

by Dual Income No Kids on September 21, 2009 · 0 comments

As some of you may know, Inuit (the makers of Quicken) have acquired Mint.com (an online money management service); see press release.

Mint claims to be the #1 money management service in the U.S. and it’s hard to not believe them due to the high quality of their service. Their interface is nice and clean, very modern and the application functionality is (in my opinion at least) excellent. Overall a great product to use when managing your wealth.

I had a Mint.com account pretty soon after they launched and it was great, even if they didn’t provide a service for each of the institutions where I held my money initially.

Intuit’s Quicken has dominated the desktop-application market, pushing out the previously popular Microsoft Money and offering a powerful alternative to the standard paper ledger or spreadsheets.

Quicken and Quicken Online has faced a lot of the criticisms. People complain about its learning curve and cluttered interface. Also, Quicken has continued to have a hard time squashing all the bugs with certain features such as automatically downloading transactions. I have Quicken 2009 and love it to create all sorts of fun graphs, but I’m definitely not a fan of Quicken Online.

Not everyone is a Quicken fan, and that has lead to some backlash towards this announcement that Intuit has acquired Mint.com. A couple friends of mine have vowed to close their Mint.com accounts due to their previously negative experiences with Quicken.

Readers: Does anyone have an opinion one way or the other on this issue? Any positive or negative experiences with either Mint.com or Quicken?

I certainly hope that whatever product is released as of the result of this merger resembles Mint.com rather than Quicken Online. If we could have the best of both worlds that would be fabulous indeed.

-Michael
Twitter: @michael_DINK

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