Can An App Actually Make Banking “Simple”?

6339114215_670cb3b57a
Share on FacebookShare on Twitter+1Pin it on PinterestSubmit to redditShare on TumblrShare via email

Is there anything more annoying about the bank than waiting in line? OK, maybe there are a few things—like overdraft fees—but it’s not the most pleasant experience. You fill out the deposit papers, you wait for the “next in line, please,” and you slowly get through your errands. I don’t know about you, but the whole process takes a toll on my day.

But now, in this age of technology, mobile banks are sprouting to life and the notion of joining a big bank for accessibility purposes is slowly dying. You can control your finances on your phone and not pay a fee for using random ATMs. You don’t believe me? Yeah, I wasn’t too convinced either until my friend talked to me about Simple.com.

I figured I’d give Simple a shot to see whether it fit my banking needs. Here’s my review.…

MIKE MEETS… THE COLLEGE SHOPPING SHEET

Money Knowledge for college and beyond
Share on FacebookShare on Twitter+1Pin it on PinterestSubmit to redditShare on TumblrShare via email

If you’ve been paying attention to student loan news (or just keeping an eye on Daily Interest), you’ve probably heard about the new College Shopping Sheet that the Obama administration introduced for the 2013 academic year.

In a nutshell, the sheet makes college “shopping” easier by providing a realistic estimate of what each college will cost. I think this is a great idea since I can’t even keep the different types of student loans straight. But I won’t know for sure if this will actually be helpful for students until I investigate the sheet itself.

Let’s dig in.…

MIKE MEETS… MINT.COM

Money Knowledge for college and beyond
Share on FacebookShare on Twitter+1Pin it on PinterestSubmit to redditShare on TumblrShare via email

Welcome back to “Mike Meets”! In this series, the SALT editorial team makes our intern, Mike Restiano, try financial products he’s never used before (jealous?). Mike will highlight what he likes and dislikes about each—and whether you should check it out for yourself. This week, Mike is investigating Mint.com.

FIRST THOUGHTS

Ryan has me investigating a website called Mint.com this week. I’ve heard some people rave about it here and there, but I never felt inclined to check it out myself.

My first impressions didn’t really include anything too profound. I really liked the fact that it was designed appealingly, had a punny name, and was relatively easy to navigate. Initially, I was tempted to just click on the sign-up button and get started, but I learned my lesson with annualcreditreport.com. The first thing I clicked on was the “What is Mint” tab.

So…what is it?…

MIKE MEETS… CREDIT KARMA

Money Knowledge for college and beyond
Share on FacebookShare on Twitter+1Pin it on PinterestSubmit to redditShare on TumblrShare via email

Credit Karma is by far the most interesting name I’ve ever heard for a financial tool, being far more creative than your standard clunky acronym.

As creative as the name is though, I had no idea what to expect from the site. Was it going to probe the depths of my credit’s soul and tell me if it was going to be reincarnated or not? Or was it just going to try and get me to sign up for some kind of credit card?

Either way, I had to (literally, had to) check it out. A quick Google search brought up the website no problem.…