Earlier this month, Mint introduced that it’ll shut down on the finish of the yr. Greater than 25 million customers use the Mint private finance app to handle their budgets, monitor bills, create monetary objectives, and save for each short-term and long-term wants. Intuit—Mint’s mother or father firm since 2009—stated within the announcement that Mint customers can transfer to a different Intuit property: Credit score Karma.
Whereas Credit score Karma is perhaps one choice to handle your price range, there are many different budgeting-app options to select from. Right here’s how they stack up in opposition to OG budgeting app Mint. And first, right here’s what is going to occur when you’re caught within the Mint meltdown.
Mint shutting down: Continuously requested questions (FAQs)
When is Mint shutting down?
Mint will shut down on Dec. 31, 2023. On Jan. 1, 2024, customers gained’t have entry to their Mint accounts anymore.
What is occurring to Mint accounts?
Mint is giving customers a few months to maneuver their accounts to both Credit score Karma or one other budgeting app of their selection. When you can select emigrate to Credit score Karma, even that transfer gained’t be an automated change. You’ll have to take the steps to maneuver over your info as soon as Intuit alerts customers it’s time.
Are all monetary establishments supported by Mint supported by Credit score Karma?
Whereas Credit score Karma gives a few of the similar features that Mint does, you may not discover all the similar options when you make the change. That’s as a result of Credit score Karma doesn’t provide budgeting options as Mint does. Consequence: You may not have entry to some monetary establishments whenever you transfer your accounts to Credit score Karma.
Are you able to export and migrate your Mint information?
Sure, you possibly can obtain your information that’s on Mint earlier than it shuts down. You should definitely try this as quickly as doable.
What individuals preferred about Mint
Launched in 2007, Mint was one of many very first private finance budgeting apps available on the market. Mint customers liked to arrange transactions into completely different classes to trace and monitor spending. Setting month-to-month budgets was a beloved characteristic that additionally gained’t make the bounce to Credit score Karma, leaving Mint orphans to seek out different budgeting choices. Learn under to see which choices can be the perfect match for you and the way they examine to how Mint works.
8 Mint options
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Tracks web value, budgeting, and automated categorization; you possibly can add funding administration providers for an extra value |
Join financial savings, checking, investments, retirement accounts |
Accessible in App Retailer and Google Play together with easy accessibility via your desktop |
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$99 a yr or $14.99 a month and free for the primary 34 days |
Follows zero-based budgeting and is exceptionally particular in detailing the place your cash goes |
Connects main accounts to trace each greenback you’ve got |
Use via the App Retailer, Google Play, or in your desktop |
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Construct a price range via particular person expense categorization and create financial savings objectives each individually and with a associate |
Hook up with banking accounts; additionally allows you to minimize undesirable subscriptions |
Accessible in each the App Retailer and Google Play in addition to their web site |
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$14.99 a month or $99 a yr |
Funds creation with or with no associate (you possibly can even invite your monetary advisor) and in addition monitor investments |
Makes use of AI to attach and monitor transactions |
Accessible in App Retailer for each iPhone and iPad in addition to Google Play |
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Easy interface to trace spending and create a price range primarily based on bills |
Can join accounts or manually add transactions |
Use via the App Retailer or Google Play |
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Begins with monitoring bills to construct a personalised price range primarily based in your preferences, like zero-based budgeting or 50/30/20 |
Import banking transactions and arrange flexibility with categorization |
Accessible via the App Retailer and Google Play |
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Makes use of the envelope system to trace spending and bills |
Manually add transactions and account info, however doesn’t hook up with accounts |
Get within the App Retailer or Google Play |
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Zero-based budgeting choice that gives price range customization and financial savings monitoring |
Doesn’t sync accounts except you pay for the premium model |
Accessible within the App Retailer and on Google Play |
Empower vs. Mint
Empower—previously Private Capital—is a stable place to handle each your banking and funding accounts. It began out as an funding instrument, which does value additional for its administration providers, however its budgeting and spending tracker is free.
Whereas the funding monitoring helps it stand out, you possibly can handle investments via different, extra easy-to-use apps, akin to Robinhood or SoFi. Empower has rather a lot occurring—greater than Mint ever did—however it may well get convoluted and complicated, particularly when you solely need to use it for budgeting and to trace spending.
You’ll be able to join all your accounts free of charge and monitor transactions, however you would possibly discover it lacks extra strong expense monitoring that you simply liked in Mint. You additionally don’t get credit score monitoring as you probably did via Mint, which supplied a free credit score rating choice.
You would possibly like Empower if you wish to monitor each spending and investing. However if you wish to get into the thick of your spending and expense monitoring, you might need to look elsewhere.
YNAB vs. Mint
One of many largest Mint opponents is You Want a Funds, or YNAB. It could actually get very particular in your expense monitoring and categorization. Most folk adore it due to that, in addition to its zero-based budgeting methodology. Die-hard YNAB customers swear by the way it’s helped them grow to be extra financially unbiased and conscious of the place their cash goes.
An enormous distinction is the fee. You may use most of Mint’s fundamental options free of charge, whether or not that was price range customization or financial savings objectives. For YNAB, the primary 34 days are free however after that, it prices $99 a yr. If you wish to take your budgeting critically, you might need to choose into YNAB. The corporate claims to assist customers save $6,000 of their first yr. If that seems to be true for you, the financial savings far outweigh the fee.
Strive YNAB free of charge (you don’t even want so as to add a bank card to get it) and see for your self if it’s well worth the hype. However when you don’t need to get too particular about your budge—otherwise you need to persist with strictly free variations—you possibly can look elsewhere for an additional app.
Rocket Cash vs. Mint
Rocket Cash—previously Truebill—as soon as began out as a spot the place you possibly can ditch previous or undesirable subscriptions that may eat up your revenue. Whereas that’s nonetheless a characteristic, Rocket Cash additionally allows you to join your accounts to create a personalised price range and monitor all your spending. You’ll be able to create spending and financial savings objectives in addition to examine your credit score rating and report, simply as you probably did with Mint.
Many of the worth comes from the way it helps you eliminate undesirable subscriptions, however Rocket Cash takes a portion of what it saves you as revenue. ( It doesn’t take something if it doesn’t decrease your invoice for you.) That is nice in case you have a whole lot of undesirable subscriptions, however Rocket Cash lacks the specificity that Mint supplied in monitoring bills and managing your cash. And also you’ll have to pay for some options—like creating limitless budgets—that Mint freely supplied.
Monarch Cash vs. Mint
Like YNAB, Monarch Cash prices one of many highest charges to make use of its budgeting app. However you’ll get limitless budgeting, banking connections, and collaborators. This makes it a fantastic choice for households who monitor bills collectively or if you wish to add your monetary workforce to see your spending and different accounts.
Monarch Cash excels at permitting collaborators to see your account, which Mint didn’t actually do. So when you’re budgeting solo, this gained’t matter an excessive amount of. But it surely additionally has a few of the similar main options—akin to syncing your web value, itemizing your transactions, creating budgets and financial savings objectives, and extra. However you don’t get a credit score rating or report with Monarch Cash, which many of us like as an added characteristic.
RELATED: 50/30/20 Rule
Quicken vs. Mint
Quicken gives two Mint opponents: Basic and Simplifi. Each merchandise cost for his or her providers, starting from $2 to $9 a month, relying on the tier you select, whereas Mint was free. Whereas Quicken is likely one of the leaders in private finance software program relationship again greater than 40 years, Mint was one of many unique private finance apps to launch straight to your fingertips.
Quicken gives a extra in-depth price range forecast that initiatives the place your cash goes primarily based in your revenue, present transactions, and bills. Whereas Mint did have a breakdown of how a lot cash you’d have left over after your spending, Quicken takes a extra thorough method.
Simplifi additionally comes from Quicken however doesn’t appear to be its older sibling. It targets cellular app customers greater than software-based customers just like the Basic model. It’s inexpensive as effectively (though Mint was free) however doesn’t provide a whole lot of credit score monitoring choices like Mint did. It’s additionally one of many extra user-friendly choices round.
Goodbudget vs. Mint
The basic envelope system is reinvented for the digital age with Goodbudget. The envelope system—an old school budgeting methodology the place you used envelopes labeled together with your bills listed on them—is a cash-forward method. Of us who like that self-discipline can be completely satisfied shifting to Goodbudget.
The envelopes are classes, much like what you’d see on Mint. However you don’t join financial institution accounts and as an alternative manually enter account balances and transactions to remain on high of your spending. The additional work may not be for everybody however when you don’t like the concept of syncing accounts to a different app, it might give you the results you want.
EveryDollar vs. Mint
That is one other zero-based budgeting choice that has a fundamental free model, however prices $80 a yr for the premium model. You’ll have to pay for premium to attach your checking account to the app (Mint did this free of charge).
Except for making a price range and financial savings plans, there isn’t a complete lot supplied on the free model because you’ll have to manually enter transactions, together with revenue and bills. The paid model is expensive simply to sync accounts, however when you’re a fan of Dave Ramsey, you might need to maintain this one useful.
TIME Stamp: Evaluate Mint options
For longtime Mint customers, discovering a brand new budgeting and private finance app may take some additional work. It’s not all the time enjoyable, however do not be afraid to check out a couple of completely different apps till you discover one you want. Many of the ones listed provide free trials, so use that point to mess around together with your choices.
Notice that the New York Occasions reported that seven opponents have particular gives for Mint prospects—together with explainers and switch instruments—so ask if there may be any particular transition assist whenever you’re looking for a substitute. And don’t let the disappearance of Mint end in your abandoning the work you probably did to take management of your price range. Use the switch instruments and maintain going.