Tuesday Tip: Budget Effectively and Safely

By: Kevin Jackman

It’s payday here at Network 1 and that means it’s time for me to spread the love to Georgia Power, Comcast, Verizon, and a number of other companies that make my life convenient. Keeping track of all your expenditures can be a hassle sometimes and it can cause some stress. I recently discovered a mobile app called ‘Mint’ that allows you to link tons of external accounts and track your payments.

Mint is powered by Intuit which is the same company that makes Quickbooks. The app is free and takes about 15 – 20 minutes to set you up for the long run.  Mint shows you your current balance, the date the balance is due, and even sends you reminders if you have certain accounts set to auto draft.  You can even set up a budget within Mint to track expenses such as fast food, gas & fuel, groceries, and more.

Mint is available for both Apple and Android devices.

Is Mint Safe?

Perhaps the biggest concern for potential users is the safety of Mint.

Anne Sraders, writer for ‘TheStreet’ states,

The app aggregates financial statements, bills, bank accounts and payment accounts like PayPal. This may worry some, as hacking and security breaches have become common in recent years, even at big banks like JPMorgan Chase & Co. But how dangerous is aggregating all financial information on one app, really?

Mint uses a variety of financial institution-level security measures including 128-bit SSL encryption, as well as monitoring through third-party sites like TRUSTe and VeriSign. Additionally, Mint uses 256-bit encryption to protect files on the company’s servers. The app also uses multi-factor authentication (including security questions), passwords and Touch ID to provide customers with additional security.

With every convenience there are risks. If a user’s phone is stolen and the Mint account is still activated, there are several different solutions to avoid the risk of exposure. Mint uses a four-digit passcode that can be activated through “Settings” on the app that can provide additional security. And, because of Mint’s online presence, users can deactivate, delete or switch off mobile in the event of a stolen device.


Kevin Jackman

Kevin Jackman | Network 1 Consulting

kjackman@network1consulting.com or 404.997.7654

Growing up in Long Island, New York, Kevin ventured to the Florida Institute of Technology to begin his college career. While attending school, Kevin created and managed his own website that helped college students raise their GPAs and do better academically. Enthralled with technology, Kevin has found his home with the team at Network 1.

 

Network 1 Consulting is a 21-year-old IT support company in Atlanta, GA. We become – or augment – the IT department for law firms and medical practices. Our IT experts can fix computers, but what our clients value most are the industry-specific best practices we bring to their firms. This is especially important with technology, along with regulations and cyber threats, changing so rapidly. We take a proactive approach to helping our clients use technology to gain and keep their competitive advantage.

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