Quicken buys Mint

I got an e-mail yesterday that Intuit (maker of Quicken) will acquire Mint.  Those who are not familiar with Mint, it’s a personal finance site, which allows you to manage your money…for free.  Quicken allows you to do the same but you need pay for it and it’s a desktop application.  But Quicken has great features like bill pay, etc. which Mint doesn’t have. 

Also, you may or may not know that, Quicken started Quicken.com their online version of the personal finance tool (similar to mint.com) for free.  I liked it very much, but inflexible tagging feature made me go back to Mint.  I thought quicken.com had great potential.  I liked the idea of “your wallet” feature (basically your cash), and their mobile alerts were great.  Also, all my banks were available, including my local Credit Union.

According to the e-mail founder and CEO of mint, Aaron Patzer will be the GM for Quicken’s personal financial application for desktop and web.  Hopefully we will see best of Mint and Quicken combined in the next release of mint.  With Intuit acquiring Mint, those who were skeptical about using mint because it might go belly up anytime; might start to use the site.  But then again I question, will it be Free, if so for how long?

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