I'd go beyond the Boles family. They don't even report income taxes or payroll deductions which can be a very large cost in life. People assume this is a fixed cost but setting up a home based business allows you to deduct business expenses and setting up a corporation allows for income splitting and deferral of taxes which is key to long-term wealth. Also, if you guys are haing to recategorize mint's categories, you've already done 75% of the work towards a proper accounting based system of tracking net worth which is way more powerful in identifying trends. Having used a proper accounting software for 15 months to track everything, I would never go back.
I have a quick question for y'all. I recently tried to add my vanguard account onto Mint and was unable to after trying 20 times. It keeps asking me for my security questions, which I input, then it times out and says it has connectivity issues with vanguard. It seems as tho this is a common issue for ppl. How did you guys add your investment account onto Mint?
Swirlstudios Vanguard linked no problem for us. However, I think it does have issues connecting during "trading" hours. Try again tonight or over the weekend. Hope that helps!
I would think the Bols family are the anomaly, because it seems that most people are spending more than they make per month. Maybe it doesn't look like it because the credit card payments are below the monthly income.
No way, the Bols family (2:47) was also featured on my health insurance brochure AND on a testimonial card from my local dentist!
Haha!!! I just searched "family" and picked the goofiest looking smile. I paid $3 bucks for it so apparently the Bols are better off than we thought.
I'd go beyond the Boles family. They don't even report income taxes or payroll deductions which can be a very large cost in life. People assume this is a fixed cost but setting up a home based business allows you to deduct business expenses and setting up a corporation allows for income splitting and deferral of taxes which is key to long-term wealth. Also, if you guys are haing to recategorize mint's categories, you've already done 75% of the work towards a proper accounting based system of tracking net worth which is way more powerful in identifying trends. Having used a proper accounting software for 15 months to track everything, I would never go back.
Shahrukh Bakar The income taxes were included, I used their post tax figures from the report. It was a little hard to find, but they had it.
I have a quick question for y'all. I recently tried to add my vanguard account onto Mint and was unable to after trying 20 times. It keeps asking me for my security questions, which I input, then it times out and says it has connectivity issues with vanguard. It seems as tho this is a common issue for ppl. How did you guys add your investment account onto Mint?
Swirlstudios Vanguard linked no problem for us. However, I think it does have issues connecting during "trading" hours. Try again tonight or over the weekend. Hope that helps!
I would think the Bols family are the anomaly, because it seems that most people are spending more than they make per month. Maybe it doesn't look like it because the credit card payments are below the monthly income.
Pidasian Hippie Very true. The report didn't list assets or liabilities.
It seems that most of the expenditures are not on assets. So the folks I know are increasing their debt with nothing to show for it.
YNAB is the way to goooooooooooooooo!
So basically a tutorial on using Mint.