Tuesday, October 07, 2008

Our new favorite place on the web

Ethan found this website, and we are now quite hooked. It is a secure website that you can get to access your online accounts and show you exactly where you stand. We have our retirement, bank accounts, credit cards and mortgage tied in. One place to go to see all our financial info at once.

There is a really cool 'trends' section where you get a pie chart showing where every dollar you spend goes--transactions are put into different categories. You can go in and edit which category something goes into. For example, even though we went to Safeway in Maui, we wanted that charge to go in as vacation, rather than as groceries. You can really play with it.

You can also set up alerts so that you are emailed if a large transaction goes through, or if a bank account drops below a certain amount. Very cool

We are uber concerned about finances right now with the financial market as it is. That having been said, it is a great time to get IN to the stock market a bit--things really can't go down much further. We decided to double our retirement contributions (403b, similar to 401k but through the government) to 20% of our pretax income. Maybe a bit high, but we can always go back and bump it down if we need to.

Anyway. Check out mint.com! It has been all over the financial magazines as something that is going to put Quicken and the like out of business. So easy--it does all the work for you!

2 comments:

Davinie said...

I am piping in to say that I wouldn't be worried about the stock market right now. It always goes up and down. You don't need the money to retire for 20 years so I am sure it will fine to let it do it's thing right now. Obviously you are choosing to add money, which is fine. I just wouldn't do anything drastic like taking it all out and hiding it under the bed, lol.
I also want to add that you should NEVER put all your eggs in one basket.

alyca said...

Oh, no worries about our diversification. We each have separate accounts with Fidelity and TIAA-CREF for our 403b's, and a wide variety of stocks/bonds in our portfolios.

But with the stock market having some of the biggest point drops in history, with it now back BELOW 10k, our retirement funds have taken a big hit. At this point, we would have more money if we had taken all our retirement contributions and put them under the mattress. But.....we are young and therefore ok (it will surely rebound before we retire!), and buying now while things are cheap. They can't all go under!