If you've been using the Mint app to keep your finances in check, you might have heard that it's going away. Don't worry, though – you're not alone in this boat! It can be a bit overwhelming to figure out what to do next.
Benzinga has put together a list of Mint alternatives to help you find a new way to manage your money that suits your style and financial goals. So, let's dive into some fantastic options to make your transition smooth and stress-free.
The Best Alternatives to Mint
- Best for Data Integration: Personal Capital
- Best for Managing Spending: You Need A Budget (YNAB)
- Best for a Financial Overview: Monarch Money
- Best for Free Trial: Tiller Money
- Best for Comparing Finances: Status Money
With the announcement of the Mint app going away, many users are wondering how they are going to manage their money. If you're looking for alternatives to the Mint app, several other personal finance management tools offer similar features and functionality to help you take control of your finances. Check them out below.
1. Best for Data Integration: Personal Capital
Personal Capital isn’t just a Mint alternative—it could also work as a great complement to Intuit’s offering, filling in the gaps where Mint fails.
Like Mint, Personal Capital allows users to import their financial data, and the platform will automatically scan accounts and advise on retirement savings, consolidate accounts, and uncover hidden fees. Ad-haters will love Personal Capital’s free model—the platform makes its money through wealth management services, which users do not have to use at all to gain access to the platform’s full functionality.
Personal Capital offers both desktop and mobile compatibility, and the mobile app offers about the same amount of functionality. A more powerful personal finance and budget tool, Personal Capital is for the motivated investor who wants to manage his or her own money but who also wants data to be displayed using a simple, straightforward method.
2. Best for Managing Spending: You Need A Budget (YNAB)
Who's it for? Users who want full control over each dollar and a reliable platform
Price: Free for first 34 days, then $6.99 per month
Available on: Desktop and mobile
Learn more about YNAB
YNAB is like Mint’s older and more sophisticated cousin. Like Mint, YNAB automatically imports transactions directly from linked banking information—the functionality of YNAB’s synchronization is more reliable than Mint’s sometimes buggy interface, but users will need to manually categorize expenses.
YNAB’s allocation system caps spending in non-essential categories based on cash flow. YNAB is one of the pricier Mint alternatives on the market; a year’s subscription costs $83.99 and users have the option of monthly billing at around $7 per month.
However, YNAB’s hands-on interface brings the customization that Mint lacks—and Type A personalities will love the fact that the app only intervenes to curb spending.
EveryDollar’s paid version costs $99 a year and offers automatic transaction synchronization. However, if you’re motivated to manually add your own expenses, the free version can work just as well.
3. Best for a Financial Overview: Monarch Money
Who’s it for?: Individuals, Families and Advisors
Price: $14.99 per month
Available on: Android, iOS, broswer
Monarch Money is an all-in-one financial home that allows you to obtain guidance, manage your investments, save and budget all in the same place.
Monarch uses a multi-step system to help you inch closer to financial freedom, including:
- Reviewing your finances
- Securely add partners, banks and investment portfolios as needed
- Get personalized advice from an expert
- Track all your money in one place
- Customize your dashboard
- Learn how to save more money
- Watch your spending
- Create financial goals
- Always keep your information safe
With these powerful options from Monarch Money, you can easily change the state of your finances and move forward.
4. Best for Free Trial: Tiller Money
Who's it for? Users who want to manually track expenses on a familiar platform
Price: Free for the first 30 days, then $59 annually
Available on: Desktop and mobile via Google Sheets
Tiller Money is more of a plug-in for Google Sheets than an individual financial tracking software itself, but the tool provides powerful compatibility for spreadsheet nerds looking to customize their budgets.
Tiller links with Google Sheets and allows you to take advantage of custom templates to organize spreadsheets of account information and expenses. Tiller also automatically updates financial information and sends quick daily summaries of account activity. Tiller Money is not a comprehensive investing tool—it’s intended only to track expenses, streamline your budgeting process and make mobile spreadsheets easier to use and understand.
It’s best used by contractors and business owners who need to keep track of a large number of clients and expenses. Those with less complicated financial situations will likely do better with a budgeting app that offers more in-depth investment services and tools.
5. Best for Comparing Finances: Status Money
Who's it for? Competitive users who want to see how their financial health compares to others
Available on: Desktop
Constantly finding yourself trying to keep up with the Joneses?
Use your drive for social success to your advantage with Status, a budgeting website with a competitive edge. Status allows you to consolidate all of your investments and accounts on one single platform and anonymously compares your financial situation to peers in your age group and location—you can even compare yourself to users around the United States.
Status also makes suggestions to reduce high fees and can alert you to upcoming due dates and payments. Best of all, Status is totally free to use.
Mint App Pros and Cons
Some of the features that draw investors to Mint include:
- Plenty of alert features: If you want an alert, chances are, Mint offers it. From push notifications that alert you to upcoming minimum payment due dates to email notifications when a large or unusual purchase is made on one of your accounts, Mint’s got your back. Mint also offers weekly emails summarizing what’s happened with your finances in the past seven days, along with tips on where you can save and cut back.
- Credit score management: Mint’s compatibility with credit bureaus is impressive and allows users to check their credit score and credit line usage through the platform. Mint also offers error-reporting solutions and can actually help consumers raise their credit score over time.
- Easy-to-use interface: Mint’s online and mobile platform are both easy to operate and don’t require a lot of technical skill to use. Because most of Mint’s investing is automated and reports are produced without the direction of the user, the Mint platform can quickly be mastered by even the newest investors. This is especially true of the Mint app, which allows users to quickly swipe and tap into different information categories.
Some of the areas where Mint falls short:
- Targeted advertisements: Mint’s services are free to use, but the company makes up for this with targeted advertisements from its partners. In many cases, these recommendations can save users money, but Mint only shows you ads and offers from partners, so you’re not getting a full picture of the offers available to you. Many users consider this form of advertising to be predatory and invasive, though it's important to note that Mint will never change services or move accounts without your expressed permission.
- Glitchy interface: For a platform that dominates the personal investing sphere, Mint sure could use some tech support TLC. Users frequently report frustration with Mint unlinking their bank accounts and credit cards unnecessarily, which forces them to add them again.
- Though this issue has only been reported from users on the online platform, it’s a frequent enough issue that it tops the list of grievances against Mint. Synchronization issues range from annoying to “unusable,” and users report that the platform frequently “forgets” to log transactions, which offers an incomplete financial picture. Other commonly reported issues include sudden crashes and shutdowns of the app, incorrect transaction categorizations and issues loading credit scores.
- No bill pay: Mint has chosen to discontinue its bill pay services, which previously allowed users to schedule planned payments through the app. This moves Mint further away from the one-stop-shop it aims to be.
Why Mint Might Not be Right for You
Mint's got a few reasons why it might not work for your needs:
- You really can’t stand ads: Financial tools need to make money. Some of these (like Mint) forgo charging a monthly or initial fee and instead serve ads. If you’re the type of person who would rather pay a fee than look at a constant stream of advertisements, Mint’s interface will likely frustrate you.
- You prefer to take a more hands-on approach to investing and saving: Mint is an automated budgeting and investing tool and is intended for users who have trouble motivating themselves to save. If you’re looking for a more hands-on approach to saving and you’re proactive with your investments, Mint is probably not the right tool for you. At the same time, there are those that may want to push themselves to use Mint so that they aren’t obsessing over their finances and can relax.
- You prefer desktop compatibility. Though Mint offers both an online platform and a mobile app, the bulk of the product’s features are formatted to be used through the app. If you’re looking for more intensive data-driven solutions and tools, chances are that you’ll be more interested in a platform that favors desktop compatibility.
How to Choose a Budgeting App
Budgeting apps can help you take control of your finances and make sure you’re living within your means. With so many budgeting apps on the market, it can be overwhelming to choose the right one for you. Here are some tips to help you decide:
Consider the features of each budgeting app you are interested in. Look for features such as budgeting categories, bill reminders, and financial reports. If you need to share your budget with someone else, make sure the app has a sharing feature that allows you to do this securely. It can also be helpful to read customer reviews and ratings to get an idea of how helpful the app is for others. Make sure to check if the app will work with your device’s operating system before downloading it.
Identify Your Budgeting Needs
Before selecting a budgeting app, think about what you need from it and how it will help you reach your financial goals. Consider if you need one that tracks expenses, helps with savings or allows for sharing of information between multiple users.
Check for Compatibility With Other Apps or Programs
One of the most important factors in choosing a budgeting app is making sure that it will work with other programs or apps that you may already be using such as bank accounts and credit cards so all your information can be tracked in one place without manual entry required by each program separately.
Compare Different Options
Different budgeting apps offer different levels of functionality depending on how much you are willing to pay for them, so compare different ones to determine which one best fits your current situation and goals. In some cases, sticking with free budgeting apps is all you need.
Transparency About Security Features
You should always take into account the security features of the app when it comes to managing your money. Make sure the app’s security features are transparent and clearly outlined so you can easily understand how your data will be kept safe. Many apps have encryption for password protection, as well as other measures such as two-factor authentication or multi-factor authentication to protect your accounts
Easy To Understand Dashboard
The app should have an easy-to-understand dashboard that gives clear information about your finances at just one glance. This will make it easier for you to stay on top of your finances without having to spend extra time deciphering complicated data points and graphs.
Discovering Financial Freedom: Which Mint Alternative is Right for You?
No matter if you’re using Mint or one of the many Mint alternatives on the market, you have the power to take control over your income. Mint may be the gold standard for easy budgeting but there are plenty of alternatives that offer you more control over your spending.
Learn more about basic budgeting and the importance of setting a budget, and that’ll help you move more quickly towards your retirement and investing goals.
Frequently Asked Questions
How do you create a monthly budget?
Most people can create a monthly budget by writing up how much money they make, how much they plan to spend and adjusting accordingly.
Is a budgeting app a good investment?
Budgeting apps can be a good idea for everyone, but you should decide which type of budgeting app works best for you.
Can you use budgeting apps to manage investments?
Yes. Budgeting apps can be helpful for you as you allocate money to invest. You can see how much you have allocated and even record where it went, if it has profited or lost money and which platform you used to invest that money.
About Sarah Horvath
Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.