Are you a Mint user? Brace yourself! Mint, the beloved budgeting app used by over 25 million users, recently announced its shutdown at the end of this year. While this may come as a shock, there’s no need to panic. There are plenty of other budgeting app alternatives available for you to choose from. Let’s explore the top Mint alternatives and see how they compare to the OG budgeting app!
Mint Shutdown: Frequently Asked Questions (FAQs)
When is Mint shutting down?
Mint is set to shut down on March 23, 2024. After this date, users will no longer have access to their Mint accounts.
What will happen to Mint accounts?
Users have been given a couple of months to migrate their accounts to either Credit Karma or another budgeting app of their choice. Even if you choose to move to Credit Karma, be aware that it won’t be an automatic change. You’ll need to follow the steps provided by Intuit to transfer your information.
Are all financial institutions supported by Mint also supported by Credit Karma?
While Credit Karma offers some similar functions to Mint, not all features will be available if you make the switch. Credit Karma lacks budgeting features, which means you may lose access to certain financial institutions when you move your accounts.
Can you export and migrate your Mint data?
Absolutely! You can download your data from Mint before it shuts down. It’s essential to do this as soon as possible to ensure you have a copy of your financial information.
What People Liked About Mint
Mint, launched in 2007, was one of the very first personal finance budgeting apps on the market. Users loved its ability to organize transactions into different categories, track spending, and set monthly budgets. However, with the shutdown approaching, it’s time to find an alternative that suits your needs. Let’s explore the best Mint alternatives:
1. Quicken vs. Mint
Quicken, a veteran in the personal finance software industry, offers two Mint competitors: Classic and Simplifi. Both products charge for their services, ranging from $2 to $9 a month. Quicken provides a more in-depth budget forecast, projecting where your money goes based on your income, current transactions, and expenses. It offers a robust alternative to Mint’s budgeting features.
2. Rocket Money vs. Mint
Formerly known as Truebill, Rocket Money allows you to connect your accounts, create a personalized budget, and track your spending. It also helps you get rid of unwanted subscriptions. However, Rocket Money takes a portion of your savings as profit, and some features that Mint provided for free require payment with Rocket Money.
3. YNAB vs. Mint
You Need a Budget (YNAB) is a popular choice among Mint users who value specific expense tracking and zero-based budgeting. YNAB comes with a $99 yearly fee after the first 34 days. While Mint offered basic features for free, YNAB claims to help users save $6,000 in their first year, making it worth the cost for serious budgeters.
4. Simplifi vs. Mint
Simplifi, another product from Quicken, targets mobile app users. With a user-friendly interface and a lower price tag than Mint, Simplifi offers tracking expenses and personalized budgeting based on your preferences, such as zero-based budgeting or the 50/30/20 rule.
5. Monarch Money vs. Mint
Monarch Money gives you the option to create budgets with or without a partner, track investments, and even invite your financial advisor. It excels in collaborative features, making it an excellent choice for families or individuals working with financial professionals. Monarch Money is currently running a promotion with a free 30-day trial and 50% off your first year using the code MINT50.
6. Empower vs. Mint
Empower, formerly known as Personal Capital, is a comprehensive financial management platform that covers both banking and investing. It offers a free budgeting and spending tracker, making it appealing to Mint users who want to manage their investments as well. However, if you’re solely looking for budgeting and expense tracking, you might find Empower’s expansive features overwhelming.
7. Goodbudget vs. Mint
Goodbudget reinvents the classic envelope system for the digital age. It allows you to track spending and expenses by manually inputting balances and transactions, rather than syncing accounts. If you prefer a cash-forward approach and the discipline of manually managing your budget, Goodbudget is worth considering.
8. EveryDollar vs. Mint
EveryDollar, developed by Dave Ramsey, offers a zero-based budgeting option with a basic free version and a premium version priced at $80 per year. The free version requires manual input of transactions, including income and expenses. While the premium version allows account syncing, Mint provided this feature for free.
TIME Stamp: Compare Mint Alternatives
Finding a new budgeting and personal finance app after using Mint for a long time may require some extra work. Don’t be afraid to try out different apps until you find the one that resonates with you. Most of the mentioned alternatives offer free trials, giving you the chance to explore their features and decide what works best for your financial journey.
Remember, the end of Mint is not the end of your path to financial success. Stay proactive and embrace change by transitioning to a new budgeting app that suits your needs. Personal Finances Blog is here to help you every step of the way!
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