My mom has a habit of… spending. And spending. And spending some more.
With my dad’s current state of health, it is more important than ever for her to learn about where the money goes and where it comes from. Living across the country from my mom, it’s really hard to teach her the ins and outs of personal finance.
With Mint.com, however, the distance education is possible.
My mom doesn’t get bills, but she does get the trend charts that break down her spending in pie graph form. She’s starting to get into seeing where her money is going, and that’s a huge leap for her. She’s not at the point yet where she’ll stop spending, but knowing that she’ll have to see her transactions appear in a pie chart make her think twice before spending.
She’s having some trouble adding all her accounts to the site and long distance debugging w/ my technically illiterate mother is difficult. But Mint’s UI is quality — even my mom can figure out how to use it, and that says a lot.
Have you gotten your parents or older friends/family to sign up for Mint (or another personal finance online site)?