Best Alternatives to the Mint app

What is Mint?

Mint is a web-based tool and app that enables people to easily manage their personal budgets for free. It takes care of the user’s financial management needs by gathering a variety of information, including their credit score, account expenditures, balances, budgets, and cash flow.

The Mint app was bought by Intuit in November 2009, but it was officially launched in September 2007. Ever since its creation, it has dominated its market until recently, when smarter and more customer-oriented services began to exert a stronger attractive force on consumers. Some fintech startups have introduced easier, safer, and more reliable apps that are competing better against Mint by addressing the pain points of users.

Is Mint right for you? 

There are more than 30 million users of Mint. But that does not mean it is right for you. As people’s faces are different, so are their needs. Your situation is not the same as that of another person. Hence, it is important to find out whether Mint is right for you.

The first thing to do in finding out whether Mint is for you is to know and understand your financial situation and what you expect from such an app. If you prefer to approach personal budgeting in a more hands-on way than using an automated service, then Mint is not right for you.

Secondly, one of the ways free financial tools like Mint make money is by showing a lot of ads. So, if you are easily irritated by frequent ads popping up on your screen while using an app, you might not enjoy using Mint.

Who needs the Mint app?

If you need a top-notch app to assist you in keeping track of your everyday activities, go with Mint. It consolidates all of your income and expenditures so you can see your spending habits clearly. The app allows you to keep track of multiple credit cards, manage your debts, pay bills, and increase your net worth over time. But one major downside of Mint is that only citizens of the United States and Canada are able to use it at present due to poor international support.

Why Consider Switching to a Mint alternative? 

Mint is still providing a good, free budgeting app. But there are a number of compelling reasons to think about an alternative. The first is the lack of investment tools. While Mint allows you to track your investments, several of the other alternatives in this article offer much superior investment features. For instance, Personal Capital displays a portfolio's asset allocation, investment costs, and preparation for retirement. Second, Mint makes money through advertising. The end effect is an advertisement-filled user experience.

9 Best Alternatives to Mint

We do not know why you want to get a substitute app for Mint. It could be for a backup or a total switch. Whatever the case might be, we are ready to help you with the best options on the market. Below are the top nine Mint alternatives.

1. Coconut

Coconut is a smart app that allows self-employed people, such as freelancers, eBay sellers, and digital nomads, to easily organise everything that concerns their bookkeeping, business and personal finance management, and tax payments. You can use it to track your income and expenses all year round, send branded invoices without limits, and work smartly with your accountant on all financial matters.

This alternative to Mint integrates with more than 25 digital accounts provided by UK banks and credit card services. Examples of them are Capital One, Starling Bank, Monzo, Revolut, Tide, and Wise.

To start organising your finances without stress, you can download the Coconut application on your mobile from the App Store or Google Play or access it via desktop.

Coconut is FCA regulated and secure. That means you do not need to worry about its safety and standard of operations. However, in terms of cost, unlike Mint, which is free to use, Coconut allows you to try it for free for 30 days, and then pay a fee of 7.50 GBP per month.

2. Xero

Xero is an easy-to-use accounting software for people who need to stay connected with the right financial information that they need to keep their businesses running smoothly. It is a cloud-based global service for sole traders, accountants, and bookkeepers.

Merchants can use Xero to keep track of everything from unpaid and overdue invoices to bank account balances. It is one of the best apps for automatically creating a cash flow statement. Also, it can be used to connect to PayPal, Stripe, and other third-party financial tools.

Xero is a Mint alternative that allows you to try all its features free of charge for 30 days! You can later subscribe to its various plans for as low as 22 USD per month.

3. Monese

Try Monese if you are looking for a banking app with many features for fast money transfers and personal finance management. This alternative to Mint allows users to create several money pots, which they can use to achieve their financial goals faster. It makes it easy for you to put money aside for a big purchase or a small gift. All you need is your mobile phone or personal computer. That is because it is a neobank that can reliably be used as an alternative to traditional banks.

Aside from being a personal budgeting tool, Monese can help you earn interest and grow your money, thanks to its partnership with Raisin. It might be useful to know that Raisin is one of the best savings account providers in the United Kingdom. Read our overview of Monese to learn about its various accounts, cards, personal loans, and a lot more.

4. Personal Capital

Personal Capital is another free alternative to Mint that can take care of your budgeting and personal finance management needs. It is a great all-in-one tool for financial planning, wealth management, socially responsible investing, retirement savings, cash flow tracking, investment monitoring and analysis, debt payment, and education savings.

Users of Personal Capital find it convenient because it allows them to access all its services via their smartphones or personal computers. Besides, they can easily link their credit cards, bank accounts, mortgages, retirement funds, and student loans to stay in full control of their finances.

Note that Personal Capital is not available to people outside the United States. So, if you live in Europe, Africa, Asia, Canada, Russia, Turkey, or any other region outside the United States, then this app is not a good alternative to Mint for you.

5. YNAB (You Need a Budget)

YNAB is a digital tool you can use to manage your personal budget without the stress. It gives every dollar you earn a place in your expenditure plan, keeping you free from living a paycheck-to-paycheck lifestyle.

YNAB offers a 34-day free trial period to all new users. When this time elapses, if you wish to continue using the app, you will pay 14.99 USD per month or 98.99 USD per year. But, even if you are willing to pay this fee, like Personal Capital, you will not be able to enjoy this alternative to Mint if you are not in the United States.

6. PocketSmith

PocketSmith is another Mint alternative that can give you one of the best personal finance experiences. With its powerful historical reporting feature, you can see how far you have come with your personal finances and use that knowledge to take charge of your spending.

The PocketSmith app is able to connect you to more than 12,000 institutions in the world. It lets you keep track of your accounts and all your assets and liabilities in different countries through its multi-currency support.

Furthermore, PocketSmith offers a customisable dashboard, easy integration with apps like Mint and Xero, and automatic cash flow statement creation at affordable rates. You can get the Basic services for free, Premium services at a fee of 9.95 USD per month, or the Super features with unlimited accounts and 30 years’ projection at a fee of 19.95 USD per month.

7. PocketGuard

PocketGuard is an alternative to Mint that is similar to PocketSmith. It simplifies personal finance by making it easy for you to take full control of your income, savings, and expenses through an automatic process. PocketGuard allows you to link all your bank accounts, loans, investments, and credit cards into one secure digital space to monitor your balances and net worth.

If you reside in the United States or Canada, you can try PocketGuard for free to see whether it is better than Mint. If you wish to continue using it and enjoy its full features, you will have to pay a fee of 7.99 USD per month.

8. Digit

If you want microsavings software that also allows you to invest, Digit is among the best in the market. It is a reliable alternative to Mint when it comes to budgeting, saving, and investing. Once you set up your Digit account, the app pretty much does everything else automatically for free. However, the tool is free for 30 days, after which it costs $5 per month.

Digit first gained attention when it debuted for its capacity to automatically deposit tiny, undetectable sums into your savings goals for you, but it has since developed into a formidable force in the world of savings. Every time you deposit money, it transfers funds to a separate account for bills, covering monthly expenses so you can stay ahead of your payments.

9. Honeydue

One of the free apps that can boast of giving you the ability to outsmart money is Honeydue. It is specially designed for couples who need to manage money, whether they are planning their weddings and honeymoons or simply putting money aside for future projects. So, if Mint is not helping you meet your financial goals as a couple, you can switch to this app today.

Honeydue offers a Joint Cash programme for couples to collaborate on a shared account, obtain Visa debit cards issued in pairs for cash access at over 55,000 ATMs, and get instant notifications about their income and expenses. It can connect to more than 20,000 financial institutions. However, it provides support to users in the United States, Canada, the United Kingdom, Spain, and France.

Factors to Consider When Choosing an Alternative to Mint

Now you know the best alternatives to Mint. But before you make a choice, there are some factors you need to take into consideration. They include the following:

Savings restructuring

Do you want to continue your style of savings with Mint? An app like Personal Capital could be a good choice. But if you want to restructure things and develop better spending habits than what Mint offers, then you can try alternative apps like YNAB and Digit. Also, if you are a couple, Honeydue will be a smarter choice.

Narrow vs birds-eye view

How do you want to view your income and expenses from different channels? Would you prefer a narrow or a general view? Most modern budgeting tools are not for narrow views of your financial habits. So, if you want an alternative to Mint in this aspect, it is better to try options like Coconut, Xero, Personal Capital, PocketSmith, and PocketGuard.

Manual vs automatic service

Manual services are becoming obsolete. Nowadays, most consumers prefer automatic tools that make things easier for them. So, if Mint is not convenient enough for you, our recommendation is to try using Xero, PocketSmith, Digit, or PocketGuard. Any of them can put you completely in charge and actively track things to remain responsible for your goals without going through manually stressful processes.

Mobile vs desktop service

Now, this factor is about the devices you own or are comfortable using. Many modern digital products are designed for both mobile and desktop (or laptop) access. However, if you prefer mobile-only to desktop-only, or the reverse is the case for you, or you want to have both benefits, then you need to choose a Mint alternative that allows you to enjoy your lifestyle. For example, YNAB, Xero, Monese, and many other apps we have discussed in this article are ideal for either or both platforms.

Private vs shared with family

Do you want a personal budgeting tool that you can use alone or one you can share with a family member? Many of the tools we have mentioned here can be used alone. But if you want a Mint alternative that you can share with your romantic partner, argue less about financial issues, and save more money with your soulmate, we recommend Honeydue.

Conclusion

Whether your aim is to pay off debt or save money for holidays, retirement, or your children's school, sticking to and keeping to a budget is essential to achieving your financial objectives. Mint is a great app for achieving these goals. Besides, you can use it for free. But if it is no longer suitable for you, try other services. However, pay attention to their fees and pricing structure to ensure that you will not be spending too much money when you could spend less.

Our conclusion is that your own preferences will determine which Mint alternative will suit you the most. Make a wise choice of a smarter tool than Mint from any of the options we have discussed in this article. We have provided you with what you need to be in charge of your personal income, expenses, and savings.