Mint.com Users Cutting Spending Sharply Due to Economic News

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MOUNTAIN VIEW, Calif. , Nov. 3 /PRNewswire/ -- Mint.com ( http://www.mint.com ) the leading online http://personal finance service, today released an analysis showing a sharp decline inusers' spending in September versus August. While http://data released last month showed that Mint.com users had been gradually reducing theirmonthly spending by 2% since January, 2008, this analysis shows amuch more drastic cut. Mint.com users shaved an average 4% fromtheir spending, or $200, in just 30 days - as much money as theywere able to save over the course of the previous 8 months.*
(Photo: http://www.newscom.com/cgi-bin/prnh/20081103/SF43437 )
"We were pleased to learn last month that Mint.com users weretaking advantage of our http://financial management and http://budgeting software to gradually cut their spending," said Aaron Patzer, CEO andfounder of Mint.com. "But to see how effectively users were able tocut back in response to September's tumultuous market news isreally inspiring. With U.S. consumer confidence dropping to anall-time low this month**, we're glad to serve as a resource."
In addition, the number of visitors to Mint.com more than doubledduring the month, as more people sought out actionable http://personal finance and savings tips to help them weather this difficult time.
Where Mint.com Users are Cutting Back
Whether prompted by the month's dire financial news, or in specificreaction to losses in investment value, Mint.com users reduceddaily expenses across eight of nine spending categories:
"It seems clear that Mint users are taking quick action to increasetheir emergency funds and shore up their retirement savings," saidPatzer. "While current US economic conditions are frightening,we're happy to see Mint.com achieving what we designed it to do:help people save and do more with their money."
*Average Mint.com user spending for January - September, 2008 andfor specific US cities and regions can be accessed by contacting Martha@atomicpr.com , or by calling 415.402.0230 and asking for a member of the Mintteam.
** http://www.conference-board.org/economics/ConsumerConfidence.cfm
About Mint.com ( http://www.mint.com )
Mint.com is the leading online http://personal finance service, providing more than 500,000 users a fresh, easy andintelligent approach to http://money management . And it's free. Mint is tracking $50 billion in transactions, $15billion in assets and has identified more than $100 million inpotential savings for its users. Designed to be effortless,Mint.com takes less than five minutes to set up. Users registeranonymously using only a valid email address. Mint then does therest, securely downloading transaction data from more than 7,000bank, credit card and investment accounts on a daily basis. Usersnever need to import or synch their data. Mint appliespatent-pending technology and proprietary algorithms to categorizetransactions; provide a unified view of all account activity; alertusers to low balances, bank fees, upcoming bills, and evenpotentially suspicious account activity; and give userspersonalized suggestions for significant savings opportunities.Mint is rated top in its category by PC World and PC Magazine and was named one of the 50 Best Websites of 2008 by Time magazine. The product has received two Webby awards, an AmericanBusiness Award and accolades from TechCrunch , Lifehacker , the Wall Street Journal and BusinessWeek since its September, 2007 launch.
Mint's management team includes seasoned industry veterans drawnfrom the ranks of Charles Schwab, eBay, Expedia, Intuit, PGP andother leaders in the finance, security and software industries.Investors include top venture capital firms and prominentindividuals whose past investments have included Google, Intuit,eBay, PassMark Security, PayPal, Yahoo! and others.
For more information on Mint.com's free online http://personal finance service, please visit http://www.mint.com .
Available Topic Expert(s): For information on the listed expert(s),click appropriate link.
Aaron Patzer
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=75230 Mint.com
CONTACT: Martha Shaughnessy of Atomic PR, +1-415-402-0230,

martha@atomicpr.com , for Mint.com
Web site: http://www.conference-board.org/economics/ConsumerConfidence.cfm/

http://www.mint.com/
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