Archive for November, 2009

Happy Thanksgiving or: How I Learned to Stop Worrying and Love Mint.com

Thursday, November 26th, 2009
(Not a turkey)

Not a turkey

Being Thanksgiving and all, I thought it might be a good change of pace to talk about something I’m thankful for.

I’m not sure how all of you manage your finances, but for some time now I’ve been manually updating a set of spreadsheets to track my budget, plan savings, balance credit cards, and establish general financial goals. Keeping track of my budget is perhaps the most important of these tasks, since it’s so easy to get out of line and blow too much money month to month. As a recent college grad, it’s also important for me to stay on budget so I can afford to save money, especially for retirement, since every dollar saved now makes a huge difference twenty years from now.

I’ve tried a few different methods for staying on budget, but in general my budget is no more than a “vague idea” in the back of my mind as I make purchases. Short of placing every single item I buy in Quicken, there really wasn’t a great way to tie my actual expenditures to my budget on a day-to-day basis. This is doubly true of free services/software. I simply don’t have the conviction or the time to tediously check every item from every merchant into categories in Quicken, tally them up, and then finally review how much is left to budget (or how far over I’ve already gone). If you asked me today, “how far under/over budget are you on groceries?” I could at best ballpark an answer for you. I’d guesstimate I’m over by less than $50 (darn expensive Thanksgiving meals!).

What’s worse is trying to manage accounts from different banks, different types of accounts, track credit cards, IRA’s, stocks – all at different websites and login portals. Even just checking in on these accounts from so many sources makes budgeting hard. If I had any hope at all of tracking not just my budget, but my overall “financial health,” a spreadsheet would no longer suffice.

zzmintI heard about a service called Mint.com that could automatically track your expenses a good while back. Reviewers were calling it a “Quicken Killer,” which piqued my interest, but I was reluctant. Frankly, it sounded too risky. Even Michael Scott a la The Office probably knows not to hand out banking credentials willy-nilly. At the time, Mint was too new for me to even think of trying it out. Now that they’ve been around (they’ve aggregated billions in transactions), and there are a lot of real professionals out their using it (see Forbes, WSJ, NY Times…), I was a little less skeptical. Add to the fact that they were recently acquired by Intuit (makes of QuickBooks), and they had officially caught my attention.

Now, I know what some of you are thinking, because I was thinking the same thing, even given their large customer base and great service record – how secure is it really? Before I took the plug I checked out the security setup in more detail, starting with Mint’s pages on this, as well as several outside reviews. Basically, there are risks, yes, but in reality they are minimal, and in the end it’s up to you to decide if that also qualifies as acceptable.

If I were to break it down – there are three main points of attack on any online system (it’s a gross oversimplification, but a realistic one). First, someone is able to intercept your credentials as they are sent to Mint. In reality, this is difficult to execute, and the data itself is encrypted – in other words, you already take that risk by logging on to your bank’s own website. The second is that Mint’s security itself is compromised and their data is stolen. What would the hacker have obtained? The banking login credentials you gave to Mint, right? Actually, no. Mint doesn’t store these credentials nor are the accessible by Mint employees. The credentials are used to set up a 1-way link through a 1-way read-only banking connection system called Yodlee. And since Mint is ‘anonymous’ (it doesn’t take nor want your real name, address, social security number etc.) the hacker couldn’t even steal your identity, let alone your funds. The third and final attack point is an internal breach, a disgruntled employee might try to steal records. Since Mint doesn’t store any of your login information, the worst that could happen is someone walks away with your monthly budget and a ledger of your recent transactions. BFD.

In other words, these are the same risks you already have by simply having an account at a major banking institution. Let’s, for the sake of argument, say the worst happens, and a hacker compromised the security at your bank’s online portal, or similarly something happened at Mint or Yodlee. If the most unlikely occured, and your account was emptied fruadulently, there are a lot of ways you’d be protected. Even without Mint’s help. If it was a credit card account, the company’s own policies for fraud protection would assist you. Past that, if it’s a regular checking or savings account, you’re protected under the Electronic Funds Protection act, also known as Regulation E, which is a set of Federal Reserve policies designed to to encourage consumers to feel safe about electronic transactions. Even in cases of negligence (if you fell for a phishing scam, for example), your general liability is $50 in most cases, or $500 if you don’t report it within 2 days. The same rules apply for Mint as they do for your banks website.

I won’t say recovering from fraud would be easy, or fun – but it won’t ruin you. Your protected already more than you probably know. In reality if Mint itself was compromised, the effect on your accounts is literally nil (do you really care if the hacker knows you spent $82 on shoes last month?) – but if Bank of America’s site  was compromised (which roughly as secure as Mint), you could lose money and have your identity stolen. Knowing that – the “risk” of using Mint seemed more than acceptable to me. You’re free to be your own judge.

Picture 1

At-A-Glance Budgeting

Now that I’ve dove head first in Mint for a good month, I’m disappointed that I waited so long to get started. Mint’s website is extremely clean and well executed – every interface is simply, well, slick. The amount of information it could figure out from my transactions automatically was staggering. I didn’t really even need to make a budget – it automatically calculated one based on previous month’s expenditures. With just a couple of minutes of tweaking, I had a complete and exhaustive account of my weekly budgets in each category – showing I was on budget for fast food, but over-budget on groceries. It shows a line where I am at now, helping me know if I’m already off track – for instance, showing that month-to-date I was $13 over in “Alcohol & Bars”, but that I had $12 left before the end of the month. All of this automatic.

Automated Email & Txt Alerts!

Email & Txt Alerts!

I also am instantly in love with it’s alerting features. No more will I have to wait for the bank to ‘feel like’ sending me a low-balance alert (or worse, an overdraft alert – what I like to call a BTW We Fee’d You letter). Mint will send me an email, even text me for free, when I’m low on cash on any one account. It even sends me emails when I’m simply over budget. I can then know at an instant when to stop spending without having to keep mental records or reconcile my checking accounts with Quicken.

That’s pretty cool stuff for a free service.

It also tracks my investments, so I can tell where I’m at overall without having to check separate accounts. It can even project your estimated savings, or even estimated net worth based on other major assets, and shows you how your money is distributed in each sector, helping you diversify.

US: Blue, Me: Green.

US: Blue, Me: Green.

The reports it can generate are pretty cool too. Since they aggregate a staging number of transactions nationally (somewhere in the near-hundred billion dollar range) they can actually show you how you compare with U.S. averages.  Apparently I spend almost three times the national average at Wendy’s – but about a tenth on Comcast (in other words, I have my priorities straight). Plus you can check out things like which merchants you spend the most money on (damn you Amazon.com!) or just where your money goes overall (1/3 just in Housing expenses in September? Ouch.)

If you’re looking for a damn straightforward way to manage your money and stick to a budget – Mint.com has a lot to offer you. Give it a try, you won’t be disappointed.

Happy Thanksgiving!

-Andy

Worst. Apple. Ever.

Saturday, November 21st, 2009
appletv

AppleTV, aka Satan

I write to all of you today in sheer frustration. It’s unusual for me to lament so openly about a topic like this – especially considering that the company who’s product I am about to condemn I usually hold in high regard. I speak, of course, of Apple, Inc. Year after year, product line after product line, I am almost never disappointed with  their offerings. Their computers, their monitors, their music players, even their printers – I can’t fault almost any of the products I’ve owned from them seriously.

Until I met AppleTV.

I may not be the first ‘Apple Fanboy’ to admit it – but this is unequivocally the worst product to come out of Cupertino.

Since many of you may have only heard of this hell-spawn in passing, let me outline it for you in brief. AppleTV is a small, flat square you plug into your TV, which can then be used to watch TV shows, Movies, or Music from your iTunes collection. Simple enough, right?

interface

Interface Fail.

It can and does do this – but in such a way that it is all but useless. The interface is clunky – it actually is reminiscent of the PlayStation 3, but only at the surface, because beneath lies a series of disjointed unintuitive interfaces and menu choices, each less helpful than the next, further compounded by a remote that is cleverly simplistic, but reprehensibly unresponsive. Each attempted click in the menu requires a force of will that no other remote-controlled device I’ve ever own has warranted. A ‘perfect storm’ of a clunky interface and a clunky remote turn a neat concept into an utter waste of time and money. A device who’s sole purpose is to entertain instead feels like a chore.

Even taking this vomitorium interface at it’s best – the idea behind it falls flat. I don’t know about you – but the majority of my video content does not come from iTunes (unlike my music) for several good reasons: the quality is extremely poor, the cost is just as high as DVD’s, and most of the content I can get for free (be it legitimately through hulu or netflix, or unceremoniously through torrents and rips). Thusly, my iTunes video library is nearly empty, and converting a smorgasbord of video files into MP4’s for iTunes would be a daunting, months-long task. Which basically means that any entertainment value that could be squeezed out of the terrible interface is next to nil anyways.

So basically what I bought was a $249 silver-white brick. To it’s credit, it does make a decent coffee cup warmer, as even sitting idle it’s hot to the touch.

Out-of-the-box it is surprisingly useless. I’d hoped it wouldn’t be this bad, but being that the original reason I purchased it was to run Boxee, it was hardly a devastating loss – rather, just a supreme disappointment in Apple. Forging ahead, I decided I get Boxee installed and actually get some use out of the thing.

It wasn’t all that simple a process, I’d come to find out. I followed Boxee’s install guide. I downloaded the Patchstick Creator, formatted a USB thumb drive I bought at Best Buy for just such an occasion, plugged it into my AppleTV, and rebooted.

It didn’t work. The menus it described would appear weren’t there at all – I tried it two more times, and suddenly it showed up. After that, I installed XMBC and Boxee through the new Launcher menu – rebooted, and Boxee was up and running.

I’ve already discussed the incredible program that is Boxee in another post – and seeing it on the AppleTV, I realized that this was how Apple was supposed to make a TV-connect computer. The channels, the myriad of content, the auto-suggestions – it was all so intuitive, so well organized, so beautiful – so unlike the actual AppleTV system. I watched a clip from Comedy Central, then tried to watch an episode of Glee on Hulu – but to my now continuing disappointment, Hulu was unbearably choppy. I rebooted but it didn’t improve. Frustrated, yet again, I scoured the internet for a solution. Reportedly few were experiencing this issue – but I wasn’t completely alone. I messed with hidden video settings, but nothing seemed to help. I decided a further reboot might, so I shut it down, and started it back up.

This time, however, there was a problem. Just days earlier, Apple released new “3.0” software for the AppleTV – a new interface, that was 10% prettier but 100% as useless. I was uninterested in it, so I didn’t download it before installing Boxee. I had used the Settings section to disable automatic updates, but apparently that menu option (which was Apple’s, not Boxee’s) was ineffectual. My AppleTV began to update itself.

l337 boxee hax

l337 boxee hax

It deleted Boxee (thank you very much Apple), rebooted into the new 3.0 menu, which after 2 minutes of using confirmed my suspicions (it was exactly as horrid as before, but horizontal instead of vertical. Yay.) Determined to get back to Boxee, I re-ran the patchstick instructions – but no matter what I did I couldn’t get the Launcher menus to show up.

Frustrated more than ever, I gave up. For weeks my AppleTV sat collecting dust. I ran across some manual install instructions in a Boxee forum, and decided today to give it a go. I’ve been messing with it all morning, and achieved some success. I am still having trouble getting an external hard drive with 500 GB of content to mount, and after installing something called NitoTV and still having no success, I am about to give up, presumably for good.

I’ve come to a cold realization: this is exactly how I don’t want to manage my videos. The AppleTV is not only terrible out-of-the-box, but the hurtles it presents to 3rd party plugins is so ludicrous that it almost nullifies and benefit from wonderful programs like Boxee. The whole experience – downloading drivers, plug-ins, updates, patches — it’s decidedly “windows” in it’s approach. Back in my IT days I’d spent countless hours doing very similar tasks on windows and linux servers, endless frustrating routines of updating. Nothing is simple, even things labeled as “automatic” prove to be anything but. What should be a tool for entertainment is actually causing the opposite, extra work.

I’d like to say to the folks at Boxee – well done, superb product. But I’m afraid the only way I’ll be using it is via a good ol’ fashioned Mac or this fabled “Boxee Box” I’ve heard rumored on the internet. Screw this POS AppleTV – it’s a worthless, underpowered hunk of junk. I for the life of me don’t understand how Apple can feel good about slapping their logo on this inept slug. It literally does nothing for me but blow hot air.

Do yourself a favor – if you want a media center – by a Mac Mini. If you want tedious setup, driver issues, endless updates, buy an AppleTV. Or just stick with a Media Center PC (shudder).

-Andy

Internet Misnomer Act of 2009

Monday, November 2nd, 2009

After seeing more and more on the ‘Nets about McCain’s insane bill misleadingly labeled as the Internet Freedom Act of 2009 that describes itself as a way to “allow for continued innovation”, and will “create more high-paying jobs for the millions of Americans who are out of work or seeking new employment” – I simply have to put in my two cents.

This whole bill is bullshit.

There’s my two cents. But I am still shocked at how many people simply don’t understand the bill itself (a group which apparently includes McCain- none of what he describes is outlined in the bill or a logical result of it being enacted), but more commonly what exactly ‘net-neutrality’ means these days, and perhaps most importantly the real reasons McCain introduced it in the first place.

"It's a Series of Tubes"

Looking at some very real letter’s to the FCC from IFA supporters, it’s clear to me that the people behind them don’t understand the very real, everyday, important connection between federal regulations and freedom. They keep falling in the same trap, assuming that more regulation means less freedom. It’s easy to forget that regulations can enforce freedoms (and not simply reduce them).

Take for example one of the most fundamental sets of regulations: the Bill of Rights. This document regulates our basic freedoms. It requires that all people, companies, legal entities etc. must grant others the freedoms of speech, to bear arms, to due process, to not search our houses without warrant, and so on and so on. The entire document is nothing more than a set of regulations that protect the people (us) from other people (and groups, companies, governments where applicable) from denying us our freedoms.

Not only can we grant freedom through regulation, our short history as a nation demonstrates that we must grant freedoms through regulation. If we have a social/economical/moral right of some kind, it will not be granted to us if there is no law to require it. We are left to the whim of the masters to dole out rights to us as they simply find convenient.

The Internet Freedom Act will prevent the government from regulating any kind of internet and IP-based traffic. This might sound like a warm and fuzzy idea to you, especially if you by principle like the government to be “hands off”. But what you need to remember is the Internet is fed to us through a very small group of companies, essentially like (or already are) utility companies, to which there is at any given time perhaps two or three businesses that can provide a usable path to the Internet. There are physical limits to the amount of lines that can be laid, to the amount of traffic that can be shared on each line, and FCC limits on the companies that can even lay lines in the first place. We can’t let the market decide which ISP’s are successful, the reality is that there will only be a few available at any given time.

Its not like a big truck.

"It's not like a big truck."

I ask you, do you want these few monopolies to decide how your internet is fed back to you? If you start a blog to voice your opinion, would you like Comcast or AT&T to decide if or how others could even see it? They don’t own your content – but they do own the only way for users to access it. If they felt like it they could block you, slow your connections down, or redirect traffic to other sites instead. The FCC is only trying to prevent this from happening.

If you can’t yet grant that we have a right to see information on the internet as we deem fit – imagine for a moment that we’re not talking about the internet, but simple phone service. We can draw a ton of parallels to our current ‘Net-Neutrality’ situation with the phone companies of yesteryear.

Currently, all phone providers are required, by FCC regulations, to provide service to all registered local telecom lines. Verizon must allow you to call AT&T, and they must allow you to call users on smaller networks like Cricket. This grants you the freedom to choose from a limited number of providers for phone service, but no matter what company you go with they all connect to the same local telecom lines. We’re all very used to this idea – I can call my brother’s Qwest line from my AT&T phone, or my parents on Comcast, my uncle on Verizon. And we can all call 911.

This is how FCC regulations grants us freedom to use the lines to connect with one another on the phone.

It might shock you to find out this is NO DIFFERENT than the Internet. For now at least, I can go to youtube through AT&T, to hulu over Comcast, to Wikipedia on Verizon. These abilities have been just happy coincidences – no law required this be the case. But as traffic rose, ISP’s began to change they way the handled traffic, and are already working hard to find ways to limit access as they deem fit. Without regulation, you’ll no longer have the freedom of access to the Internet.

This is how the FCC’s newest regulations grants us freedom to use the lines to connect with one another on the internet.

I don’t understand how you could be against internet-neutrality, when you’re all so happy with the government regulated freedoms on our phone lines. McCain was alive in the 60’s, I’m sure he’s old enough to be familiar with Bell-South’s iron fist. Back when you had to lease your phone from “MaBell” – when prices were fixed, without competition, for decades. Where poor customer service was the only choice (that or not have a phone at all). Maybe McCain’s so old he actually can’t remember how important it was to open the phone lines for general use. But back then, then FCC empowered the American people to communicate with one another without being squished by a monopolistic (even granting a naturally monopolistic) communication entity. I’m reminded from something I read a long time ago from AT&T when the government started telling them how to run the phones:

“There are two giant entities at work in our country, and they both have an amazing influence on our daily lives. . . one has given us radar, sonar, stereo, teletype, the transistor, hearing aids, artificial larynxes, talking movies, and the telephone. The other has given us the Civil War, the Spanish-American War, the First World War, the Second World War, the Korean War, the Vietnam War, double-digit inflation, double-digit unemployment, the Great Depression, the gasoline crisis, and the Watergate fiasco. Guess which one is now trying to tell the other one how to run its business?”

Ignoring the fact that Bell South really fell flat on their “artificial larynxes” programs, people are still arguing like this today – why should the government tell ISP’s how to run their business? The answer is the same now as it was for Bell-South in the 60’s – natural monopolies (or even oligopolies) need to be regulated in order to maintain our freedom of access. Without regulation, you simply sanction their ability to oppress the masses.

Consider the reality which arose after FCC regulations began opening up the phone lines:

“There are two giant entities at work in our country and they both have an amazing influence on our daily lives. . . one has given us high prices, poor customer service, eliminated all possible competitors, wasted millions in antitrust litigation cases. The other has given us the freedom to use the phone lines as we saw fit; allowed inventors to create and popularize faxes and modems which ignited the computer-driven business of the 70’s and 80’s made possible only because companies could so easily communicate and send electronic data over telecom lines; who opened communication internationally in what eventually became the foundational glue for global technological revolution on a scale never before seen in recorded history. Guess which one is now trying to tell the other one how to run its business?”

Net-neutrality is critical in security all our freedoms for controlling the internet as we see fit – as the market sees fit – and not just as the few ISP monopolies see fit.

If we need the “Internet Freedom Act of 2009”, then I’d argue we also need “Phone-line Freedom Act of 2009” – to prevent the government from regulating the phone system and all number-based telephony networks. Why should the government tell the big companies how to run the phone system? Let AT&T force us to lease our phones from them again. Let telecom development stagnate like the 60’s. What right does the government have to say how Bell South’s err, I mean Comcast/Verizon/AT&T should control their network!? I say, we give these companies back their freedom to restrict our access and options to the communications network. It worked so wonderfully in the 60’s, didn’t it, McCain?

Of all people, I feel like a dinosaur like him would understand, first-hand, how creating a Bell-South Internet will harm us all. But then you just need to look at his lobbyist contributions – McCain received over $800,000 from AT&T, Comcast, NCTA, and Verizon, which are all launching multimillion dollar grass root propaganda campaigns to stop net neutrality from enforcing our freedom. I’ll even grant that he simply doesn’t understand the issue – he’s been on record numerous occasions where he describes himself as a computer “illiterate”, who “never felt the particular need to email.”

Look, don’t be mislead on this. Don’t let the word ‘regulation’ scare you – this is about protecting our freedom of communication on the medium that defines our generation. The Internet is ours – not the ISP’s.

-Andy