If you have made resolutions to budget better, start accounting for one’s finances or even read bank statements regularly and failed, fear not. There’s an app for that. You need to try Mint.

• Mint has been hailed by UX pros.
• It was recently purchased by tax software-giant, Intuit.
• It’s a web application that  monitors and provides feedback about how you spend money.
• oh, and its 100% FREE

Have you tried it out yet?  Okay, leave this article, seriously. Go sign up and give it a whirl, then come back (or don’t) if you want to read the rest of what I have to say. More after the break.

Mint’s budgeting & accounting system is fun and easy to adopt.  It is unlike other accounting books, systems, and programs which are as enjoyable as monthly trips to the dentist.  Mint uses your bank statements to categorize and archive your activity automatically. Instead of laboriously managing statements and spreadsheets, you can spend time learning about your spending patterns through Mint’s system of interactive charts and pie graphs. MM…. pie graphs.

The makers of Mint realize that unless the system is simple or the program enjoyable, a person will not adopt it.  Habits dealing budgeting and finances are burdensome, even when there are financial incentives to get into those habits. For the first time ever, I want to be rigorous about my personal finances.  And not because I have excessive spending habits, but because it’s damned fun to do so.

Eating my burrito last night, I pondered about finances and the extent to which Mint was bettering them.  I saw a girl in line take out her wallet, and stare into its empty contents with a disgusted and slightly confused face.  I’ve been there before, you look into your wallet and it appears more empty than you believe it should be.  Looking at that girl’s expression, I realized that though Mint is a marvelous tool, the one thing it cannot do is track cash spending.  Once you pull money out of an ATM, it flies under the radar, leading to unconscious and irresponsible spending.

well, duh, Jon. How is an application going to track cash?

Hey, this is just an observation.  Perhaps Mint can do kick ass cash management, as well.  I believe the solution lies in the physical container: your wallet.  Cash can be accounted for the day we all have “smart wallets” in our pockets and purses.  These devices will come with a GPS tracker and a camera that reads bills.  Every time you open the wallet to pull out cash or credit, it records your GPS location and takes a photo of the cash in the wallet before money is taken out, and after. The uploaded data can tell you when and where your money was spent.  And, as an added bonus, the wallet can track down a thief if it gets stolen.

I guess its a problem if you’re dealing with cash transactions you WANT flying under the radar (hint: what businesses do transactions only in cash?). Too much Big Brother?