Many view HelloWallet as a pretty big competitor to Mint. With last month's launch of their iPhone app the personal finance service tool took a step closer towards Mint in the race to become the best PFM tool. According to a representative, "HelloWallet's first allegiance is to our customers," a contrast from some of the sponsored apps that try and promote deals and rewards as well as guide customers.
Their online platform works as a financial advisor for just $8.95 a month. HelloWallet has initially focused on targeting large employers and 401K providers in order to help employees stabilize their finances and plan for a better future.
How it's different:
HelloWallet has set out to differentiate itself from other personal finance management tools by going farther than just tracking your finances. With personalized daily alerts that act as tips, HelloWallet really pushes you to take a proactive view of your finances. One cool and unique feature allows you to tap into your location via GPS to let you know how much you've spent there and how much you have left to spend. Similar to how Adaptu lets you know your spending in realtime, HelloWallet simplifies this process with utilizing GPS.
HelloWallet promises to make suggestions based on what's best for you as opposed to worrying about sustaining partnerships and sponsorships with banks or reward deals. Although the traditional service costs $8.95, the app however, does not cost anything. If you are already using the sites service you should definitely check out the app.