What is and how has it developed?

What is and how has it developed? 19.08.2019Leave a comment
What is Mint and how has it developed?

If you are looking for a place to budget, track and manage your finances, Mint is definitely what you are looking for. The website automatically updates your financial information, such as bank accounts, credit card information, retirement accounts by letting you track as they happen.

It was founded in 2006, by internet entrepreneur Aaron Patzer.

With the launch of Patzer wanted to ease people’s lives by allowing them to track their monetary assets effortlessly in one platform and update on recent financial and economic conditions of the US.

The website immediately gained success by ensuring both high-level financial services and providing “Bank-level security”. With its fast-growing success, after 3 years,  Intuit which is one of the most famous American businesses and financial software companies, acquired Mint for $170 million. By the time of purchase, CEO of Intuit Brad Smith said that this transaction will help Intuit gain even more awareness by offering its customers fast-growing Software as a Service, which will help them not only save but also make money.

Press Release
Press Release

Undoubtedly, Mint is one of the fastest-growing financial blogs on the web, with more than 50 million users. The key to its success according to the company is its simplicity of usage which makes its users’ life much easier.

You can create budgets and stick to it, manage your money online, and even get personalized tips to improve your financial management skills.

Mint guarantees life-changing and positive experience, once you become one of the users.

Features and Attributes of

Mint provides its users with very useful tips about budgeting, saving and money management techniques.

The website helps to gain an understanding of the financial sector in simpler terms and to be financially literate. It explains the economic fluctuations in such an easy way that anyone can understand. In its financial blog, Mint recently posted an article explaining the interest rate of Federal Reserve and how it affects the US citizens.

It is interesting how the economy is compared to a car tire so that the users understand the functioning of it. The pressure gauge, which allows measuring whether the amount of air pressure in the tire is correct, is the monetary policy.

According to Mint, increasing or declining interest rates do not necessarily mean that the condition of the economy is worsened or improved, but rather because the US may be approaching its economic peak and experts want to prepare for a slowdown.

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For its users, Mint has also elaborated more on what can affect change in interest rate. This usually differs from whether your loan or other borrowings are at a fixed rate or variable. The website explains that the change may have the least impact on long term loans such as home equity lines of credit, and the most impacted will be the short term ones.

The reason for this is that home equity loans have fixed rates and the upcoming months’ interests will grow only with a slight percentage. On the other hand, credit cards which usually have variable rates and are short term will have lower purchasing power than they had before.

The website helps users to stay alert to such changes and be informed of what actions they should undertake in such circumstances. 

One of the most interesting features of Mint includes the creation of goals for each user. If you have any financial targets like saving for a vacation or getting out of debt, Mint helps to achieve them.

The website calculates your average spending amount for each category, and lets you plan and see how you cut off on any of those categories. On the budgeting page, you insert information regarding on which category you want to set a budget, how frequently you are spending on that category (e.g utilities- each month). After which website asks you to insert your spending cycle, that is how much you spend in each 1 or more moths. 

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The website calculates your credit score for free, after which you can see various banking services that fit best to your credit score. In the banking section of Mint, there are 3 separate subpages, Credit Cards, Checking, and Saving.

The summary of each bank’s credit card is presented with its terms and conditions, the annual percentage yield is provided to the user so that they can review and apply for any of those on the same page.

In case you want to see which checking account is the perfect fit for you, Mint also summarizes various checking account options.

It provides you with information like annual percentage yield, the minimum amount to open a balance and monthly fee.

All your money in one place
All your money in one place

The savings part of this section works almost the same way. You are given information about annual percentage yield, the minimum dollar amount to open an account and fees (if applicable). 

Trends tab allows you to take a quick look at where you’ve spent your money category by category. The website automatically sets the budget for every category according to your income and whenever you spend more than the targeted budget the line of that specific category goes from green to red.

Mint also sends alerts to its users once they are over their budget, a bill is due soon or once it recognizes unusual spendings. This data clearly illustrates the historical financial performance throughout a certain period of time, with the help of this technique users also gain more understanding on how to improve their savings amount.

Famous Media about


Many popular media pages referred to the business activity Mint conducts and how it helps its users. One of the articles was published by Forbes, where Mint was classified as one of the most “awesome budgeting apps for 2018 and beyond.

According to Forbes, many people who feel helpless with money are not using the tools and guidelines available to them, and that is when Mint comes to help. The pros and cons of the website are also presented in the article.

One of the pros according to Forbes is that Mint regularly updates suggestions for credit card offers and other services that are helpful for savings, on the other hand, the cons of the website is the interface, which may be uncomfortable for the beginner Mint users.

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Neil Patel

Mint’s success story also inspired one of the most famous web influencers Neil Patel, who wrote about it in his blog.

In his interview with Neil Patel, the founder of Mint Aaron Patzer highlighted the significance of its security along with the importance of launching a financial website. “Does this sound like something secure?” was the question Patzer asked himself when thinking of launching of the website.

Neil Patel Blog
Neil Patel Blog

Ensuring “Bank-Level Security”, attracted even more people who said they would use the website. The target audience of the website is very diverse. According to Mint, the experts are there to help you with your financial decisions whether you are a student, self-employed or consumer of any type of product.

It also goes along with the mission of the company to care and give back. The cultural values that the company has surely affected the users of the website. empowers its employees to be themselves at workplace, although being different from each other, everyone’s opinion counts at Mint and makes it a better place for all the stakeholders. To them, diversity is not something they do, but something they are.

The New York Times

The New York Times has also referred to Mint as one of the most useful tools to track your finances. As it is stated in the article, the web makes it easier to set a budget for your everyday spending, save and stay on top of your expenses.

The New York Times
The New York Times

So, anyone who wants to track their financial life in one place, Mint is the right platform for them.

Mint Earnings

Many ask themselves how free money management applications keep growing and where does its income come from? The business models for each website vary, but most of them have revenue coming from referrals and advertising.

Mint’s primary source of income comes in 4 streams:

  • advertisements which appear on the website and the app;
  • premium accounts that offer monitoring of credit reports;
  • user data sales;
  • and referrals to other institutions in the financial sector.

Mint’s premium account is one of the most important sources of its revenue. Mint’s users can access their credit scores for free, whenever they wish.

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However, if the user wants to get more than one credit report, statistics regarding their credit score or the ft monitoring, Mint suggests a monthly premium subscription that costs $16.99.

The website also makes money by selling its data. For many of the users, it has been a major issue of whether their data has been available for third parties, however, the website ensures complete anonymity because they are selling the accumulated information.

This means that Mint tracks the users’ saving and/or spending trends and sells the overall picture to the industries that may be interested in the overview. 

Currently, according to the estimated annual revenue is around $13 million. In 2009 the website was sold with $170 million valuation to Intuit, while having only 1 million users. Now the number of users is over 10 million, so imagine how much it is worth now. 


According to Similarweb has around 9 million visitors per month. Mint has users from many different countries but it’s main traffic, 90%, still comes from the US.


As it is stated in the website, Mint has access to statistics of consumer trends such as savings and spending habits. Even though the website does accumulate and sell data, it also ensures consumer privacy by anonymizing and pooling it to ensure consumer privacy. So there is no need to be worried about the leak of any personal data, your bank accounts and other financial data will be safely protected.

One of the key things we all want to achieve is to manage our financial assets effectively and effortlessly. Keeping track of our financial life is by far one of the most important actions which require constant review, research, and monitoring.

Analysis of the monthly spending, budgeting, and saving can be your guide to having a financially consistent future, and that is what Mint is all about. In this fast-growing industry of financial blogs and advising websites, Mint gives you free and full access to its services and helps you get one step closer to your financial goals.

Within its scope of activities, Mint helps monitor, budget and save money. You’ll get notified of the most recent information and current trends of the financial and economic markets put it in much simpler terms. The majority of articles are too complex and difficult to understand for people who have little or no understanding in that sphere.

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Fortunately, Mint solves that for anyone who might have an issue with that.  By drawing comparisons between financial, economic terms and day to day activities users find it more comprehensible. That is why once you visit the website, you stick to it. By setting financial goals and budgeting future flows of your financial assets you are becoming your own financial expert.

Bringing all of your financial information to one place, or how Mint puts it “All-in-one Finances”, makes it one of the most user-friendly tools on the web that attracts many users. Mint brings all of your money into one place, from credit cards to savings accounts, and allows you to track it from wherever you are.

If you want to start spending efficiently and save more than Mint is the right mentor to be guided by. Various experts help the users to be financially literate, manage their budget effectively and improve their financial performance. Its useful tips and guides helped millions of its users to save and achieve great financial management skills. The website continues its active operations to ensure its users are given full transparency and fair information regarding the financial sector of the United States.


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Andrei Shilkov

Blog author. I am well versed in Finance and Digital Marketing. I have two bachelors degrees in Finance. Born in Russia, but later moved to the USA, to western Pennsylvania, the city of Pittsburgh. I have a Certified Public Finance Officer (CPFO) certificate. I also worked at IRS and Microsoft.

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