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What's The Over/Under On Mint Starting To Suck Now That Intuit Bought Them?

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I blanched when I saw the subject line, "Mint.com to be acquired by Intuit, maker of Quicken." More like "Mint.com to be acquired by Intuit, makers of crap," I thought. Judging by your comments, I don't blanch alone.

Despite the emailed assurances of Mint's CEO that the site will remain free, easy-to-use, and ever-improving, a number of Consumerist readers expressed low expectations for the outcome.

PhilFR: "Ugh. This is a sad day. Mint has made my personal finances infinitely more organized. The only question is which will happen first: will Quicken screw up the product, or start charging for it?"

Blueoysterjoe: "What, Intuit will buy Mint and suddenly have great ideas about how to run a personal finance website? No. Intuit will apply its crappy ideas to Mint and turn Mint into crap."

calchip: "Long ago and far away, Intuit made a great little product called Quicken that sold for 10 bucks. Then they came out with Quickbooks, which in its original incarnation, sold for maybe 100 bucks and did everything.

More recently, Intuit has turned into a complete and total piece of sh*t company that gives you the privilege of paying $250 for a crappy, bloated, crippled piece of software that nags you every single time you use it to buy more of their overpriced crap, refuses to support a product that's more than 2 years old, and basically makes a product that is almost unusuable unless you're willing to pay hundreds of dollars a year for crap that you either don't need or should have been (and was at one time) included in the basic product.

I wish the management of this company would shrivel up and die and be replaced by people that actually believe in *earning* a customer's business rather than shoving services fees down their throats.

This can only be a bad, bad sign for mint.com. I wonder how long till they ruin it?"

Aaron Patzer, Mint.com founder and CEO, wrote customers last night:

Ready for the next Evolution
Thank you for being a part of what's becoming a revolution in active personal financial management. I'm excited to say that Mint.com and Intuit are coming together to take personal finance to the next level. Mint.com has entered into an agreement to be purchased by Intuit. Once the acquisition closes, Mint.com will have the opportunity to spread that revolution to more people, more quickly, together with one of the world's strongest software brands. The acquisition is expected to close by the end of 2009.

What's not going to change
Mint.com will stay the way you like it: free, easy-to-use and constantly improving.

What will change
As outlined in today's press release and my blog post, after the acquisition closes, the Mint.com team will contribute to improving the financial lives of tens of millions of consumers and small businesses. I'll personally be taking on the role of GM of Intuit's Personal Finance group responsible for online, desktop and mobile consumer personal finance offerings. Joining Intuit enables us to bring our vision of helping consumers understand and do more with their money to millions of Intuit customers. This is a compelling combination of our innovative product, technology, and industry leading user interface design with one of the most trusted brands in software.

I look forward to executing on that vision —- for you.
Thanks for your support,
Aaron Patzer
Founder and CEO

So, what are you abandoning Mint for? Personally, I'll still be sticking with my trusty excel sheet. Or you can check out these eight other free personal finance management systems.

(Photo: Andreas Kollegger)

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Comments:

73
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madrigal
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I left mint.com months ago because one of the links they suggest you visit is freecreditreport.com

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Closed my Mint.com account last night. Reason given: "Intuit" I have not decided what I will use to replace it, probably the old fashioned way, I was never totally comfortable with a 3rd party diving into all my bank accounts anyways.

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I believe I will be with the consumerist masses and jump ship. Excel was my old mint, and I agree with you Ben, it shall be again!

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Y'ever buy something at the store and then get home and realize you already own one?

This is just like that.

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I'll be sticking with it, unless something changes for the worse. Whereas Quicken might suck now, I have had a decent experience with TurboTax and Quicken Online isn't horrible.

I'll wait and see before freaking out too badly. I do love me some Mint.com so I really, really hope things go well.

*crosses fingers*

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You've never used netsuite have you'all?!? ***chills down spine***

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I use Buxfer and it does what i want, though it might not be loaded with features.

[Dirty secret: I use Quicken Online too, mainly as a back up to Buxfer.]

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Oh just an update:

Pear Budget is now "pay for play". Apparently.

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I use Mint and Quicken Online.

Mint doesn't work with my credit union. I have submitted it a few times in the last year, but they haven't added it. Quicken Online had it online in less than 24 hours after the request, it wasn't perfect as it called everything a "Withdrawl" or "Deposit" and couldn't parse out the other information.

I like Quicken online's "Next Two Paychecks" graph, but prefer Mint's budgeting.

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I'm sticking around. Nothing has changed yet except for the owner. a bunch of over-reaction if you ask me.

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I'm silently/slightly hopeful that the deal falls through somehow.. It's not exactly finalized yet.

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Look, I know you guys have a history with past Intuit products, but I happen to like the free, easy-to-use, online Quicken.

This product changed my mind about the overall direction Intuit is going, and I actually think that this acquisition is going to be a GOOD thing.

I am certain that the masses who have been up in arms with their pitchforks and torches haven't taken a glance at Quicken Online. And if they've touched Quicken, it's been the crappy desktop software from the 90's.

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Nope, I bailed this morning. It's not a matter of if, but when they screw this up.

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@kompeitou: Hear hear. Unless Intuit steal all of my personal info and sells it to Russian gangsters tonight, I'm prepared to stick around to see how it all works out.

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@kompeitou: Same. I'll jump ship once there is signs that things are starting to take a turn for the suckage. Right now, it's still infinitely better than what I was doing before, which was manually updating a spreadsheet in Google Docs.

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Intuit acquired an online banking services provider(to banks) a few years ago. Not much has changed that I can tell. They've integrated Quicken into their product offerings more although it doesn't seem to be a drawback in any way. I figure this is just a part of their plan to strengthen their market share. They may leave it direct to the customer but may integrate it into their other products as well.

I'm not saying Inuit won't severely mess Mint up but there's no need to get too excited.

Disclosure: I do not work for Intuit or any of it's subsidiaries. I do work for a bank that utilizes the services of one of it's subsidiaries.

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@Jeremy82465: I jumped ship the day before this was announced. I'm still just a little wary of having one company having access to all of my financial login information. I don't care how good they say their security is.

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Intuit bought Mint? No more Mint for me. I'll just go back to spending it as soon as I get it then.

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Money Strands is another free, online budgeting tool.

Not only do they allow you to add your financial institution so you can monitor your transactions, if your bank is a smaller more local kind of operation you can upload your transactions which is more of a pain but it may be your only choice in some cases.

They're the only site I found with comparable features to Mint that allow upload of transactions (BTW, it used to be called Expensr but they got bought out too.)

money.strands.com

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Mint wasn't all it was cracked up to be. I really, really wanted to like it, but it couldn't track my ING accounts, and it couldn't access my 401(k) either. It was frustrating. Quicken is fine with ING. It doesn't support the JP Morgan retireonline.com either, but I'm hoping it will soon. But the ING issue was the deal breaker with Mint.

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Any chance that now Mint will allow me to import my old Quicken data? I have about 5 years of history in Quicken that i'd like to import, but can't currently.

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When I read the announcement I deleted my mint account within minutes. I was given an automated survey to fill out, in which I left a few choice words for intuit AND mint for selling out.

I authorised the people at mint to have my details, not some cowboy outfit with more money than they know what to do with.

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I just made a Mint account last night guys :(

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I was really considering giving Mint a try but I am no longer interested. I have never had so many problems with software from a single company as I have with Intuit. For years their products were broken and wouldn't work with Windows NT or Windows 2000. They add bloat and raise prices every year on their tax software. They nickel and dime for the add ons like state tax packages and efiling and make it difficult to figure out which of their products, stand-alone or online, is less expensive. Ugh!

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Just waiting for a Mint competitor to come to the market to grab the customer base that will drop Mint.

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As long as Intuit doesn't alter my Mojitos I think I'll be okay.

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This is a sad day, Mint was great but Intuit can't help but ruin and overcharge for a good thing.

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@Jeremy82465: I was given a copy of Quicken to teach me how to manage my finances when I went off to college about 7 years ago. The software was bloated, unwieldy, restricting, and constantly nagged me about buying a newer version. I hated it

I switched to excel and have been actually enjoying my finances ever since. I had been contemplating using mint. Now, I won't go anywhere near it.

It is a sad day for mint-lovers everywhere.

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@RonDiaz: Ditto. I had considered some open source financial programs or excel spreadsheets, but ultimately I'll just keep to my one-sheet budget.

Mint was nice because it was effortless. I don't have time to dig that deep into my financials. All I need to know is that my debt is going down at a consistent rate and that my savings are going up.

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@kompeitou: Didn't the passengers of the Titanic say similar things?

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I've signed up with Yodlee before ever signing up with Mint.com. Once LH started talking mint.com up I signed up to see what the buzz was about. I ended up closing the account about a week later since all my accounts were supported on yodlee and not all of them were supported on mint. (I know yodlee is the back end of mint, but they must have used an older version). So, I'll go on a limb here and suggest yodlee. They are getting better all the time. When i did have problems with my savings account not being integrated correctly I actually managed to get some help in the forum. I highly recommend Yodlee. The only bad thing is that if you jump ship, all your previous transactions cannot be moved over.

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I used to use Quicken, and while I was fairly happy with it, Mint just made things easier. If they don't screw it up, I'll be happy to stick with them.

Overall, Intuit has been a pretty good company. Not great, but better than most in my book.

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Ditto on many of the above.

There goes my Mint.com account. I'll be cancelling over my lunch break. Too bad.

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@madrigal:


What really sucks is my wife while wanting to do the right thing and get her free credit report told me she was going to use freecreditreport.com and i'm like are you mad woman, you read the consumerist!

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It must be truly sad to work for a company like Intuit where you can watch the public's gut reaction is to run. I don't use Mint and my first gut reaction was sympathy for those who do.

Sorry Intuit but that's the image you have created with folks like me.

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I never got into Mint, but I doubt I would use it now that it has been subjected to the Intuit touch.

In the meantime, I'll just got back to my old method:

"Don't buy stuff you can't afford"

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@Xerloq: The other option for the titanic passengers wasn't so great either...

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Does anyone else find it amusing that this page is still on the Mint site:

[www.mint.com]

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Between this and Microsoft Money closing its doors I'm thinking about purchasing an abacus.

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Mint already sucked -- pretty interface, but it was riddled with errors, namely a constant failure to properly download transactions with various accounts. At least Quicken can do that right (I think at least, I've never used it)

Seems to me like this is one garbage company buying another garbage company. Have fun guys.

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"Mint.com will stay the way you like it: free, easy-to-use and constantly improving."

I think it's the "constantly improving" part that has people worried under Inuit ownership.

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Has anyone tried Wesabe? I looked at it a while back and the interface was awful. Looks like it got an overhaul, but I'm not sure if it's as good as mint.

[www.wesabe.com]

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On the other hand, can you blame Mint.com founders for selling out? I mean, they stand to make a ton of money, pay back their VC with interest, and in a year or two retire or start some other free-finance website company with their own dollars. Isn't that the American dream? To make something that another company likes so much that they buy you up for huge sums of money?

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I don't get why everyone is freaking out. The acquisition does not necessarily mean anything. When flickr was bought by Yahoo, nothing changed on flickr except good stuff (like Yahoo account integration and free flickr pro for Yahoo/AT&T DSL subscribers). I'm not going to cancel my account unless I actually see something bad enough to justify such an action.

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@kompeitou: Ditto. But when they start charging or shoving ads for services down my throat, I'm gone.

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i dumped mint.com usage long ago


reason being, one of my banks (key bank) security team
kept locking me out of my account because of the frequent access attempts by mint.com.


since key bank refused to play nice with a great tool, i went back to my own method (a database) and haven't looked back.


i'm glad i did. because i would have jumped the ship
if were still on it when this nonsense happened.

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Mint.com will probably end up being integrated into Quicken Online, which sucks pretty bad in and of itself. My bank has some special application called FinanceWorks, which looks a lot like Quicken Online, and does the exact same thing as Mint.com. However, Mint.com is a MUCH better user interface, so if Intuit had any intelligence, they'd learn from Mint.com's UI and feature set. However, Intuit also runs my bank's Online Banking site and added a new enhancement that broke data exchange between MS Money and Mint.com. I'm guessing there's a connection there, perhaps forcing people to switch to Quicken, with the absence of MS Money now.

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@Xerloq: Yep, and the first people off the Titanic were the ones who got the lifeboats.

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Count me too among the Intuit haters, and it's a terrible situation for the consumer that they effectively have no competition in the home\small business segment.

By the way, I would wager that Intuit WANTS everyone to quit Mint, that way they can shutter the service and eliminate it quickly.

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I guess its straight to the source again... Yodlee for me.