What Do People Really Spend? Mint Data Delivers Real-Time View

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Most people who join a gym or get an oil change worry they’re overpaying. Or they may choose a restaurant based on the perceived cost, rather than knowing what they’ll really spend.

“When we first crossed the million-user mark, we looked at the stories the anonymous, aggregated customer data could tell about the economy”

Today, Mint.com helps people solve those mysteries. Mint Data, launched today in public beta, aggregates anonymous spending data from some of Mint.com’s more than 4 million users to deliver an unprecedented real-time economic index.

“When we first crossed the million-user mark, we looked at the stories the anonymous, aggregated customer data could tell about the economy,” said Aaron Patzer, vice president and general manager of Intuit Inc.’s (Nasdaq: INTU) Personal Finance Group and founder of Mint. “Now, we have enough users in enough cities across America to give a distinct, anonymous look at the country’s economy down to the city level. What do we spend on restaurants? Which stores are a particular town’s favorites? How has the downturn affected things like coffee or bars? People may use the information they find to help them make better money decisions.”

The new data product is publicly available at http://data.mint.com/, letting anyone compare spending habits in various cities and see who are among the area’s most popular merchants, among other data. Mint users can compare their own spending inside the product – by category or merchant – against averages in their area, or against the national average.

How it Works

Mint Data will show spending data both by average purchase price and by popularity, which is defined by number of transactions per month. The rankings can be viewed by category, such as “food and dining,” by specific business, and broken down to the city level. Visitors to Mint Data can choose among more than 300 cities in the U.S. to compare spending. Cities appear in the product once there are enough active Mint users there to ensure absolute anonymity.

About Mint.com

Mint.com is a leading online personal finance service from Intuit Inc. (Nasdaq: INTU), providing over 4 million users a fresh, easy and intelligent way to manage their money. And it’s free. Launched in September 2007, Mint.com has quickly grown to track nearly $200 billion in transactions and $50 billion in assets and has identified more than $300 million in potential savings for its users. Mint.com’s innovation is in applying advanced technology to deliver breakthrough ease-of-use. Using patent-pending technology and proprietary algorithms, Mint.com allows users to see all their financial accounts in one place, makes it easy to set and keep to budgets, and helps identify money saving ideas. Mint.com is so effective that more than 90 percent of users say they have changed their financial habits as a result of using the service. For more information on Mint.com's free online personal finance service, please visit http://www.mint.com and follow Mint.com on Twitter: www.twitter.com/mint.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 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.