The way it works is that you enter your account information and passwords to each of your bank web site’s and their system automatically logs in and downloads all of your spending activity. The analysis is really very accurate and it automatically begins creating budgets for you. As well you enter your assets such as homes, cars and jewlery. The home’s you enter are automatically pulled up by appraised value from a web site called cyberhomes, and I found the accuracy to be good but the database to be missing a lot of homes. One of our homes for example pulled up with a $0.00 suggested value.

I’ve in the past played around with Yodlee.com and Yodlee has even made big gains in getting acceptance from the banking community to the point that several large national banks actually integrate Yodlee into their customer web portals, but the Yodlee interface is a bit clunky and poorly designed.

Mint.com on the other hand is a pleasure to use, the interface is intuitive and unlike Yodlee who’s primary model seems to be licensing their technology to banks, Mint.com makes money by saving you money. If they find that you have a credit card with a high APR they will recommend another credit card that offers you a better interest rate. Really a win/win situation… you save money on fees, they make money on the referral.

The only suggestion I have for Mint is really that they should add a similar auto-valuation for vehicles using a service such as edmunds or kbb.

I highly recommend it, http://www.mint.com