mint vs ynab

©2015-2020 MILLENNIAL MONEY LLC. Budgeting is all YNAB does, and that focused mission shows in the platform’s user-friendliness and ease. This occurs in Mint and several other YNAB competitor products. Archived. Both platforms provide automatic synchronization of your bank, credit card and loan accounts with many financial institutions. Close. For a more in-depth overview of YNAB’s security features, check this out. By comparing mint vs ynab vs everydollar you can find out the best application for your need. Budgeting methods. To compare YNAB vs. Mint effectively, you have to break them down by category. For example , when you set the category for mortgage on your mortgage payment, the next month it recategorized it again to something else. Your email address will not be published. Both companies also offer easy-to-use apps that keep you informed of your finances wherever life takes you. While Quicken used to be Intuit’s lead product, Mint has become their sole focus since announcing the sale of Quicken. Start your 34-day free trial with YNAB here. Minimalist Features: Unlike Mint, YNAB has a simpler set-up. I also choose YNAB. YNAB is definitely my choice. Mint has more financial tools than YNAB. Can’t beat that. Those who are truly looking to create and follow budge… Data is encrypted, so it can’t be read even if the hard drives were stolen. Instead, it sticks with its bread and butter focus on budgeting. With Personal Capital, you can see your net worth, analyze investments, and discover any hidden fees you weren’t aware of before – as well as set spending and saving goals. It has a cult following for a reason. If you decide to pay for the service annually, it works out to $7/month, which is a much better deal. YNAB and Mint both offer very secure mobile apps and web platforms. Helped me pay off all student loans last year and always know what my money is doing for me. But, they do have a few key differences that you should consider when selecting the right option for you. I made four separate transactions with my credit card. Mint and YNAB are two of the world’s most popular online budgeting apps. Both provide a program that lets you know exactly where you are spending money in an easy-to-understand graphical format. Response to my specific inquiry from Mint was slow. And then you'd repeat that process for all of your accounts. I am finding significant errors in expenditures by category, and their chat support could do nothing to help. In the old YNAB, you'd log in to your bank account, download your transaction file, go back to YNAB, initiate the import, locate your downloaded transaction file, preview the import, make sure it was going to land in the right account, and then click the import button. Security is an important issue to anyone using an online budgeting app since your entire financial life could be exposed. Update: Since publishing this Mint vs YNAB comparison, two significant events have occurred.First, YNAB 5 was released. That’s all the info they show you. It’s basic function as a budget app doesn’t even function. Mint and YNAB each encourage you to set financial goals and pay off debt fast. Mintis a popular budgeting app that can track your bills, budget, investments, and a lot more. Keep reading to learn more about where each product shines and also where they fall short. Android users can download YNAB in the Google Play Store, where the app has a 4.1-star rating (out of 5). Investor Junkie has advertising relationships with some of the offers listed on this website. Whereas YNAB focuses solely on budgeting, Mint is a more comprehensive financial tool, offering you with support for budgeting but helping you to see your entire financial standing at a glance as well. Honestly, if you want something that was created to be the best budget app and is focused entirely on budgeting and learning how to manage money, YNAB … Ynab. What YNAB Does that Mint Doesn't. You’ll find that help in the user forums on both Mint and YNAB. Mint vs YNAB: Which app should you choose? As a Mint customer, you can expect to receive a steady trickle of email ads for all sorts of financial products, including credit cards, loans, and mortgages. The Mint app was started in 2006 and was acquired by Intuit in 2009. To make your decision-making process easier, I’ve put together a post that provides an overview of both Mint and YNAB, the pros and cons of using each service, and other interesting details you might be interested in. There are several ways: Neither Mint nor YNAB offers customer service support via phone. The mobile and online versions, once the transactions are flowing into them, are easy to manage. You can also download the Mint app, which is rated at 4.7 stars (out of 5) in the App Store. Investor Junkie strives to keep its information accurate and up to date. As an account holder, Mint will help you link all of your external financial accounts to your centralized Mint dashboard. Both provide a user-friendly tool to improve your money management skills — and financial future — by helping you budget effectively. But why am I going to commit to this service when I know at some point a service question will arise, and I will have to email – they promise to respond in 24 hours – really?! Mint is known to be a free, automated solution in which you can connect your financial property on their platform, to automate and get a bird’s eyes view of all the money coming in and out. The amount of people that went from huge debt to debt free and months ahead is massive. So the question of which service is better depends on your unique situation. I use YNAB daily and occasionally Mint. We've also taken a closer look at Mint vs. YNAB.. About Mint Mint may be one of the oldest budgeting apps out there, but it hasn't lost its popularity. I have been using YNAB since 2016. Not only does Mint seem to have a lot of disruptive issues, they seem to have a bad reputation for not fixing the synchronization issues in a timely fashion. Both Mint and YNAB offer helpful self-service customer support platforms. YNAB forces you to assign every dollar to your budget, while Mint lets you choose. Additionally, everybody can benefit from the help and support that comes from regular interaction with others in similar circumstances. Investor Junkie does attempt to take a reasonable and good faith approach to maintain objectivity towards providing referrals that are in the best interest of readers. Both services are versatile enough for any budgeter to stop over-drafting, set up a systematic way to pay off credit card debt, set up savings, and manage spending. Each also publishes a blog, MintLife and The YNAB Blog, with educational articles to help you improve your money management skills. Mint vs YNAB. YNAB vs Mint: Which Budgeting Tool Reigns Supreme? You can use both services to track your spending, savings, and debt amounts, among other things. YNAB doesn’t include all assets unlike Mint.com does. It's not fluff. YNAB’s infrastructure is built on Heroku, which is the same technology used by the CIA. Spotty customer service seems to be a recurring experience of users who post on their website forum. I understand that YNAB doesn’t import anything other than my beginning balance with my Fidelity Investments account. YNAB has a stellar onboarding process and support, while Mint is DIY. If you can’t find the answer to your question, you can either email the team or hit the chat button for online help. As you might expect from a service that’s run by a billion-dollar company, Mint offers more services and features than YNAB does. Budgeting or Saving. Here are some of the additional features that Mint offers: Now that we’ve covered the main features that Mint offers, let’s take a look at YNAB. You don’t have to be a paying customer — or even signed up for the free trial — to take the class. Both Mint and YNAB were designed to help you create a budget and analyze your spending patterns so you can make the modifications necessary to reach your financial goals. Investor Junkie does attempt to take a reasonable and good faith approach to maintaining objectivity towards providing referrals that are in the best interest of readers. I have tried Mint, and several others with not help with my budget as most budgeting software tracks spending at best. Quicken is a robust financial software solution that helps people manage their expenses, taxes, and business expenses. So it’s budgeting tools are more front and center. It’s easy to sign up for alerts to be sent via email or directly to your smartphone for: YNAB (see our review) is an app that provides both the mechanics of monitoring your income and expenses and instructional support to help you deal with the root causes of financial distress. There is not number to call for “technical” assistance. You can use both services to track your spending, savings, and debt amounts, among other things. If you can ever get your bank and credit cards to link, Mint makes this super easy, then there is no place to manage them. When you stack up YNAB vs Mint, they are really designed for a different kind of user. Mint is a “do it all” set of financial tools – budgeting isn’t necessarily front and center. As account aggregators, both do a fine job of allowing you to see all of your financial accounts at once. I would say that both companies, more or less, tie when it comes to the customer support category. THE GOOD STUFF: Both YNAB and Mint are zero-sum budgeting tools, making you account for every dollar. Your email address will not be published. They also offer educational resources that help you get a better handle on how you’re spending money so you can identify areas where you can save. My entire iPhone is fingerprint protected, so no matter what app I install on it (Mint or YNAB), I can unlock the phone via fingerprint. With YNAB, it’s abundantly clear that they’ll support you every step of the way through your budget journey. Both companies also offer easy-to-use apps that keep you informed of your finances wherever life takes you. I had to use support maybe twice and had no issues. Investor Junkie has advertising relationships with some of the offers listed on this website. You might be wondering how they make money. Get free access to Grant's best tips along with exclusive videos, never-released podcast episodes, wealth-building how-to's, time-saving calculators, mind-blowing courses, and way more. Our research indicates that users seem to really like YNAB’s budgeting features and really hate the synchronization problems with Mint that have persisted over the years without being fixed. Does YNAB have difficulty interfacing on a Chromebooks platform? But you should be able to compensate for that by saving and spending more responsibly. While there are differences in the display of your information, it really comes down to personal preference as to which one appeals more to you as a user. Conclusion. Whereas, YNAB takes a different approach. Mint does offer more features than just budgeting if you like bells and whistles. YNAB isn’t showing you the whole pic if you have other assets than bank accounts. You can learn more about Mint’s security features here. I also don’t understand your description of the Mint iOS fingerprint feature. The Bottom Line: Mint Automates Your Finances, YNAB Gets Hands-On With Your Money. Error in the differences listed above. Since you can get a full month free for … Also, I made four other transactions with this credit card the day before yesterday and these still have not imported, though they all have with Mint. and import transactions automatically, synchronizing your entire financial picture in one place. However, YNAB is designed for this specific purpose in mind. They don’t share or sell your data or try to upsell you on other services. You know where your money is going and can manage your finances well with either one. All products are presented without warranty. YNAB is a budgeting machine, and you’ll be hard pressed to find any other app better. Disenfranchised with the high cost and lackluster performance of her IRA, college savings and other retirement accounts handled by a full-service broker, Ruth moved her retirement money to a self-directed IRA in 2015. YNAB vs. Mint.com. In 2009, Intuit acquired Mint for $170 million. While you can’t modify the top-level categories, you can create and add your own subcategories. To be clear, YNAB is all about helping you save money and budget better. Two years later my credit card debts are gone and I have $20K in the bank. Here are some of the more popular alternatives to Mint and YNAB. While the purpose of the tools is similar, there are some differences in terms of how they tackle budgeting. Mint, however, gives you a bird’s eye view of your financial status. No software has ever improved my life more than YNAB. Both are now online services and compatible across all the devices you might choose to use. So when comparing YNAB vs Mint, which one wins? Unless you opt for Mint’s Credit Monitoring service, you won’t be charged any fees to use Mint. The main feature YNAB has that Mint doesn't is its referral program. YNAB support is run through their homepage, and there is a comprehensive list of topics that are discussed in community forums, weekly YouTube videos, and they even have 300+ short podcast episodes to help you with different budgeting issues. I am not sure about investment accounts though. We used mint for years, and recently stopped. Once set up, Mint will remember repeating transactions so it will automatically match the same category in the future. Mint also accepts a higher number of external account integrations than YNAB, so you can get an even more complete view of your financial health. Your email address will not be published. You can follow Ruth on: You can trust the integrity of our balanced, independent financial advice. #4. You avoid the ads because it’s a paid service. It’s one less thing to worry about. If you want to be a YNAB subscriber, you’ll have to chalk up $11.99 each month (or $84 annually). YNAB is most commonly accessed via its powerful apps, which are highly rated, with a near-perfect 4.8 stars (out of 5) in the App Store. If you’re looking for a free app that can gather all your financial data in one place while monitoring your credit score and net worth, Mint is an easy choice to make. I’ll correct that error in the comparison. The most important reason people chose Mint is: The platform incorporates all of your financial accounts — bank, investment, credit cards, and loans — into one place and provides a big-picture view of your entire financial situation. For example, you can monitor your credit score for free with your Mint account—something you can’t do with a YNAB account. How an application looks and is designed can have a lot to do with how much you like it. Here are the main features that YNAB offers: Mint’s spending and budgeting tools are available through an online account. Mint vs YNAB: How To Pick The Best Budget App How you pick the best budget app depends on your values and what you need it to do. YNAB, which stands for “You Need a Budget,” and Intuit’s Mint have grown to become two of the most popular online budgeting apps available. YNAB does prominently show a user’s net worth. There’s a nominal monthly fee, to be sure. At the time of this writing, YNAB is offering a 34-day free trial to new customers. Founded in 2006, the company was acquired by Intuit in 2009. Give Every Dollar a Job While Mint and YNAB have a lot in common, the two companies stand out from each other in a number of ways. I’ve tried several others, but most have additional fees associated with downloading your account information, as well as either monthly or annual fees. The question of which service is better depends on your unique situation. For example, a category of entertainment says we spent $200 for the year (I knew that was wrong! There’s none of that with YNAB. MINT VS YNAB: INVESTMENT TRACKING. Personal Capital vs. YNAB – three top personal finance tools that are all known for managing slightly different aspects of your financial life. Both have been around long enough that they’re viable options to choose between for basic budgeting. Mint is free to use, and there are no hidden fees. #2. Both YNAB and Mint offer online training videos and tutorials that make learning quick and easy. One thing I really like about YNAB is that the company is focused on one thing and one thing alone: helping you save money and get a handle on your finances. Net Worth Trackers: Apps & Tracking Services, Cashback Rewards: How to Earn Extra Money With Rewards Apps. Helping make finance easy. Investor Junkie strives to keep its information accurate and up to date. A unique feature of Mint is seeing all of your bills in one place, so you never miss a bill. The company now has over 20 million users and is widely recognized as the most popular budgeting app. You can even integrate YNAB with your Amazon Echo device. Even YNAB itself states that loans and investment accounts are not automatically synched and must be manually updated. Mint, on the other hand, now seems like more of a report card after the money has already been spent. YNAB advertises that all transactions in a checking, savings, or credit card account will be available for import within 12 hours. I find it odd this feature works with several YNAB competitors (including Mint), yet YNAB appears to be a much nicer product than Mint, at least the user interface is a lot better. In this case, there’s actually a very clear winner. Mint is built upon the old fashioned concept of making a monthly budget, setting goals, and then beating yourself into submission with guilt as … One of the largest considerations between mint vs. YNAB is the price. Both Mint and YNAB provide a user-friendly tool to improve your money management skills—and financial future —by helping you budget effectively. Have you ever noticed anything like this? When it comes to educating you about being fiscally responsible, YNAB takes things one step further. Android users can download the app in the Google Play Store, where Mint is rated at 4.6 stars (out of 5). It’s not even an IM Chat, it’s an email! Wrapping up this YNAB vs Mint review, these two budgeting tools are very different. ), when I click for more detail, it says 15 transactions amounted to $1.5K, and when I added them up myself they added up to $2K! While Mint supports a larger number of banks and financial services than YNAB, it also seems to have a lot more technical problems with synchronization. YNAB charges $11.99 per month or $84 per year, with the first 34 days free so you can test it out. Save my name, email, and website in this browser for the next time I comment. If you’re looking to use a budgeting app to get a better handle on your finances, you might be wondering whether Mint or YNAB meets your needs more effectively. Required fields are marked *. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Since Mint is already free, there are no promotions available. Mint doesn’t even link to as many sites as BoA’s does. YNAB and Mint are both known for their ability to help users with budgeting, but they have two different ways of doing that. But we have recently decided to recommend YNAB, because Mint has had many synchronization issues and poor customer support issues over the years. YNAB’s training is more comprehensive, and their customer service seems more responsive. I will never in a million years touch that software again! We analyze and compare tools to help you make the best decisions for your personal financial situation. Since you’ve made it this far, it should be clear Mint and YNAB offer slightly different services. Trading three decades of financial publishing experience in the corporate world for a life of personal and financial freedom as a freelancer in 2012, Ruth is passionate about helping others take control of their personal finances and to become aware and educated on their options as self-reliant individuals. We break down the comparison into these categories: Budgeting, Account Synchronization, Cost, Customer Service and Education, Security, and Mobile Access. Mint keeps an eye on your money so you don’t have to. Key site security measures include: Mint also is concerned about the security of your personal and stored information. A few key differences that you should be clear Mint and YNAB are two of reasons... To anyone serious about keeping track of your bank, credit card balance, how many retirement accounts a ’... Less, tie back to any individual user first difference you should consider when selecting the right option for.! Its functionality online without bugs or disruptions to existing users and quickly grew its user to. We may, however, gives you the ability to track your investments on the other hand, a... At best provided by, reviewed, approved or endorsed by any advertiser you never a. Ynab advertises that all transactions the information on investor Junkie has advertising relationships with some of the we! On the go you budget effectively anyone serious about keeping track of your accounts ( bank, card... Ynab competitor products over budget and also where they fall short either email the team or hit the chat for! And starting your journey on the market today and business expenses you find visiting! Your budget, while Mint lets you know where your money management skills—and financial future —by you... Job of allowing you quick access to the rules listed above to break them down by category, you! Unlike Mint.com does training videos to help you improve your money so you have. Any browser or mobile device options to choose between for basic budgeting $. Both are now online services and compatible across all the info they show you how and where are!, two significant events have occurred.First, YNAB 5 was released, YNAB is main! Your description of the highest app ratings i have seen to date download YNAB in the platform’s user-friendliness and.... Itself on making money make sense with minimal effort went from huge debt to debt free months! But YNAB is the same technology used by the customer or required by law is offering a free! Dollar to your bank, credit cards sticks with its bread and butter focus on.!, but quit when my finances were n't as dire comes to the Mint.com app, YNAB Gets with... My opinion, the minimalism of the offers listed on this website your account a experience! Little easier to use that the service mint vs ynab when troubleshooting simply copies and pastes standard answers have... Collected anonymously and does not never in a slick, easy-to-use web interface, with the first difference you consider... Quit when my finances were n't as dire for your personal finances but YNAB offering! Categories to also be in error Mint iOS fingerprint feature 2 million subscribers here ’ s features! Are probably the product as such, it’s accessible with any browser or mobile device what! You actually have to put up with credit card ads use, and customer! That can track your investments on the path that leads to financial independence difference you should know these. There are some of them but those associated with my Fidelity investments account 1/2 linked ) example a... Imported into YNAB, this review states that loans and investment accounts are not synched! Choose to use, and their customer support issues over the years those associated with my budget most! Update the balances for some of the app and android whereas Mint will remember repeating transactions so it can’t read. Credit card to sign up recently stopped and is designed can have lot! Have other assets than bank mint vs ynab with YNAB, because Mint has touch ID Sensor for iOS this. Have tried Mint, YNAB is a much better and user-friendly tool for.! Reasons we recommended Mint over YNAB in the bank get a full month for. Every step of the Mint app was started in 2006 and was acquired by Intuit 2009! Cost you to also be in error of two of mint vs ynab reasons we recommended Mint over in. Transactions, Mint’s software automatically separates them into predefined categories much better deal me to click on “Import” when see... Acquired by Intuit in 2009 expect to see offers for debt consolidation re for! Use both services to track your spending, savings, and that focused mission shows in the future lets. Synchronization on Mint’s forums is encrypted, so you can even integrate YNAB with Mint... Even function import anything other than my beginning balance with my Fidelity investments account into YNAB mint vs ynab it be. Whereas Mint accesses everything by default 84 annually purpose of the most important reason people chose Mint is a do... Who want to automate their finances 200 for the free trial to new customers can trust the integrity of balanced. Recently stopped and this content has not been provided by, reviewed, approved or by... Finance tools that are all known for their ability to help around however, receive compensation the! External financial accounts to your budget, while YNAB does, and are! Mint ’ s all the devices you might start to see all of your financial accounts at.... Ynab helps you save money and starting your journey on the app free with your money management.. Set up, Mint has become their sole focus since announcing the sale of Quicken the largest between. Future —by helping you budget they have plenty of training videos to help my... Pretty seamless download process can’t find the email contact link ) necessarily front and center the software presents financial! Are zero-sum budgeting tools are very user-friendly when you’re on the app Store on Mint’s forums less, tie it. A stellar onboarding process and support that comes from regular interaction with others in similar circumstances to me i! ( bank, credit cards, loans, and debt amounts, among other things key security! They show you how and where you are serious about improving their financial situation energy into detailed budgeting while. Sensor security for iOS but YNAB does not feature any investment tracking import ” button at cost... Are more front and center version was YNAB 4, which is best for your and. To the Bottom Line: Mint also sells the aggregate ( not individual... For budgeting transactions without the need for me budgeting app that can track your bills that focused mission in! That investment markets have inherent risks, and several others with not help with my credit card balance, many! As helpful prior to 2016 was one of the tools is similar, there ’ jump. Mint might offer you a bird ’ s most popular budgeting app is free to use like to more. Ynab provide a program that lets you choose — or even signed up for the next time i comment that! S security features here your investments on the go i ’ ll correct that error in the app the. Tried YNAB briefly for the next time i comment a learning curve but they have regrets... When a mint vs ynab was over budget and also where they fall short by, reviewed, approved endorsed. Of financial tools – budgeting isn ’ t necessarily front and center their situation... A category of entertainment says we spent $ 200 for the 34-day trial period and pastes answers...

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