MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jan. 16, 2014--
Debt can be daunting, especially for those saddled with high credit card
balances. Mint, the leading personal
finance app from Intuit Inc.
(Nasdaq:INTU), can help consumers get their budget back in shape in 2014
and offers tips to eliminate credit card debt.
Mint users can select or create their own financial goals, such as
paying down credit card debt. Over the last three years alone, the
“Goals” feature has helped more than 1 million Mint users pay off more
than $20 billion in debt. Mint links users to more than 20,000 different
banks, credit cards, loan and investment accounts, allowing them to view
their financial statements in one place and better understand the amount
of money coming in, how much is going out and how much remains to pay
“The first step to paying off debt is getting a clear picture of where
your money is going,” said Vince Maniago, group product manager for
Mint. “Mint guides consumers every step of the way with free,
personalized financial insights and goal setting to help users get out
of debt and back in control of their money.”
Four Steps to Trim Credit Card Debt
Mint offers four debt-reduction tips to help consumers:
Make a plan. Take the first step to pay off credit card debt by
creating a plan that complements your budget and doesn’t overextend
finances. After totaling up debt, look at spending. Subtract expenses
from monthly income and see what’s left to start paying bills. If this
amount is too small, look for ways to reduce spending such as
cancelling or modifying a cable subscription, buying generic versus
name brands or carpooling.
Pay down credit cards. List debts in order with the smallest
payoff or balance first. Paying the little debts off first provides
quick feedback, making it more likely for consumers to stick with the
Pay more than the minimum. Break the habit of paying only
the credit card minimum required each month. When possible, increase
the minimum payment to reduce interest rate expenses over time, or put
that tax refund toward paying off debt.
When paying down debt, leave the credit cards at home and avoid
temptations like cash back and purchase rewards. Mint’s budgeting
feature allows users to see where their money is going and when to
spend less to save towards being debt-free.
Mint is free to download and use from the App
Store on iPhone, iPad and iPod touch as well as for Android
smartphone and tablets at Google
Play and on the Amazon Appstore. Mint is also available in the Windows
Store for Windows 8.1 and the Windows
Phone Store for Windows Phone 8.
Intuit Inc. creates business and
financial management solutions that simplify the business of life for
small businesses, consumers and accounting professionals.
Its flagship products and services include QuickBooks®,
Quicken® and TurboTax®,
which make it easier to manage small
businesses and payroll
processing, personal finance,
and tax preparation and filing.
Mint.com provides a fresh, easy and
intelligent way for people to manage their money, while Demandforce®
offers marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit's
leading tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year
2013. The company has approximately 8,000 employees with major offices
in the United States, Canada,
the United Kingdom, India
and other locations. More information can be found at www.intuit.com.
Source: Intuit Inc.
Holly Perez, 650-944-6482