The mobile and online versions, once the transactions are flowing into them, are easy to manage. Both Mint and YNAB offer helpful self-service customer support platforms. Response to my specific inquiry from Mint was slow. Archived. While Quicken used to be Intuitâs lead product, Mint has become their sole focus since announcing the sale of Quicken. Mint has the edge over YNAB when it comes to tracking your 401(k), IRA, or other retirement and taxable accounts. YNAB does prominently show a userâs net worth. Investor Junkie has advertising relationships with some of the offers listed on this website. The first difference you should know about these companies is that Mint is free, whereas YNAB is going to cost you. Data is encrypted, so it canât be read even if the hard drives were stolen. 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. THE GOOD STUFF: Both YNAB and Mint are zero-sum budgeting tools, making you account for every dollar. 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. The big advantage of Mint is that the service is free, but you do have to put up with credit card ads. Since you’ve made it this far, it should be clear Mint and YNAB offer slightly different services. The Mint app was started in 2006 and was acquired by Intuit in 2009. By comparing mint vs ynab vs everydollar you can find out the best application for your need. #3. InvestorJunkie.com© Copyright 2020, All Rights Reserved | Investor Junkie is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Whereas Mint will give you insights into your account balances and holdings, YNAB does not feature any investment tracking. Both platforms provide automatic synchronization of your bank, credit card and loan accounts with many financial institutions. Mint is known for helping users effortlessly manage all of their finances in one plac… Mint and YNAB can both be beneficial services. Mint is built upon the old fashioned concept of making a monthly budget, setting goals, and then beating yourself into submission with guilt as … Mintâs budgeting software is also easy to use and visually appealing. The strategy behind YNAB’s saving and spending principles can be summarized by their Four Simple Rules for Successful Budgeting, which are as follows: #1. But we have recently decided to recommend YNAB, because Mint has had many synchronization issues and poor customer support issues over the years. YNAB has done a great job of moving all its functionality online without bugs or disruptions to existing users. 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. Mint and YNAB are two of the world’s most popular online budgeting apps. Let's talk about what's common with the online budgeting services. Mint is a free option and while it has a few bugs, it’s a solid product at no cost. Both are owned by the same company: Intuit. It also doesnât remember a category. YNAB’s training is more comprehensive, and their customer service seems more responsive. There are other great options like Personal Capital, using your own custom spreadsheet or good old fashioned pen and paper – but Mint vs YNAB is one of the biggest rivalries in budgeting. Required fields are marked *. It’s one less thing to worry about. There is a 34-day free trial, and then you can be billed monthly at $11.99/month or pay for a full year at $84. I also donât understand your description of the Mint iOS fingerprint feature. Instead of logging into multiples sites, you can log onto Mint to see all of your bills. Youâll find that help in the user forums on both Mint and YNAB. Does YNAB have difficulty interfacing on a Chromebooks platform? YNABâs infrastructure is built on Heroku, which is the same technology used by the CIA. So, even though Mint is free, YNABâs $11.99 a month fee may very well be worth it for glitch-free synchronization and responsive customer support. Both YNAB and Mint offer online training videos and tutorials that make learning quick and easy. I will never in a million years touch that software again! I had to use support maybe twice and had no issues. For example , when you set the category for mortgage on your mortgage payment, the next month it recategorized it again to something else. Investor Junkie has advertising relationships with some of the offers listed on this website. Mint might offer you a comprehensive picture of your personal finances but YNAB is a much better and user-friendly tool for budgeting. 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. What sort of assets are you referring to? Net Worth Trackers: Apps & Tracking Services, Cashback Rewards: How to Earn Extra Money With Rewards Apps. Yesterday, between the hours of 8:00 A.M. and 5:00 P.M. A unique feature of Mint is seeing all of your bills in one place, so you never miss a bill. 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. 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. Close. I also made sure nothing was ‘hidden.’. Investment accounts. 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. MINT VS YNAB: INVESTMENT TRACKING. Each also publishes a blog, MintLife and The YNAB Blog, with educational articles to help you improve your money management skills. mint vs ynab. Mint also offers value estimations of property, while YNAB does not. You can even integrate YNAB with your Amazon Echo device. It has a cult following for a reason. YNABâs training is more comprehensive, and their customer service seems more responsive. You can use both services to track your spending, savings, and debt amounts, among other things. Ynab. Since Mint is already free, there are no promotions available. I’m a long-time user of Mint, but now that I’m using the YNAB trial, I would prefer to switch to YNAB, if it werenât for a couple of deal-breakers. Mint vs. YNAB: Customer Service. YNAB vs. Mint.com. YNAB offers personalized budgeting software that can be accessed through an online account or via mobile apps. Our research indicates that users seem to really like YNABâs budgeting features and really hate the synchronization problems with Mint that have persisted over the years without being fixed. It’s not even an IM Chat, it’s an email! YNAB helps you save money and get a handle on your finances. ©2015-2020 MILLENNIAL MONEY LLC. Mint vs YNAB: Which app should you choose? For more information, please read our. Budget alert email from Mint. YNAB vs. Mint: The Budgeting App Showdown. The most important reason people chose Mint is: 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. The Bottom Line: Mint Automates Your Finances, YNAB Gets Hands-On With Your Money. After downloading and syncing your transactions, Mintâs software automatically separates them into predefined categories. If you’d like to learn more, here’s a quick video that gives an overview of the four rules. For a more in-depth overview of YNAB’s security features, check this out. As such, itâs accessible with any browser or mobile device. Both companies also offer easy-to-use apps that keep you informed of your finances wherever life takes you. Both Mint and YNAB are designed to show you how and where you spend your money. Mint is a personal budgeting and financial tracking service. This may have changed since your response, YNAB has allowed me to link student and auto loans, and credit cards. Here are some of the more popular alternatives to Mint and YNAB. YNAB doesn’t include all assets unlike Mint.com does. Things like: consumer spending, the average credit card balance, how many retirement accounts a user might have, etc. So it’s budgeting tools are more front and center. I’ve tried several others, but most have additional fees associated with downloading your account information, as well as either monthly or annual fees. Your email address will not be published. Budgeting or Saving. Mint, on the other hand, now seems like more of a report card after the money has already been spent. Wrapping up this YNAB vs Mint review, these two budgeting tools are very different. But, they do have a few key differences that you should consider when selecting the right option for you. The budgeting app is free but comes at the cost of advertisements that can be distractive. The information on Investor Junkie could be different from what you find when visiting a third-party website. YNABâs last version was YNAB 4, which was a desktop-based application. YNAB is better for someone willing to invest time and energy into detailed budgeting, while Mint … When you stack up YNAB vs Mint, they are really designed for a different kind of user. 1 1 11. I feel you get a lot of bang for your buck with YNAB, and their customer support is outstanding. #2. Give Every Dollar a Job In my opinion, the web interface is much easier to use that the app. Itâs basic function as a budget app doesnât even function. I’ll correct that error in the comparison. 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. Once set up, Mint will remember repeating transactions so it will automatically match the same category in the future. Posted by u/[deleted] 5 years ago. 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. YNAB may offer similar alerts but I did not receive any during my trial. Budgeting is all YNAB does, and that focused mission shows in the platformâs user-friendliness and ease. Learn how each app works and find out which is best for your needs. It's nice to aggregate several investment accounts – including retirement plans – on the same platform, even if it's not yet super developed yet. How an application looks and is designed can have a lot to do with how much you like it. Is is what we mean about differences in displaying a user’s net worth. We may, however, receive compensation from the issuers of some products mentioned in this article. Investor Junkie strives to keep its information accurate and up to date. Instead, you click the “Import” button at the top of your account. In my experience, Mint is best for people who want to automate their finances. Update: Since publishing this Mint vs YNAB comparison, two significant events have occurred.First, YNAB 5 was released. Can’t beat that. With YNAB, it’s abundantly clear that they’ll support you every step of the way through your budget journey. The information on Investor Junkie could be different from what you find when visiting a third-party website. YNAB costs $11.99 each month or $84 annually. Unless you opt for Mint’s Credit Monitoring service, you won’t be charged any fees to use Mint. Things like your credit score, … YNAB advertises that all transactions in a checking, savings, or credit card account will be available for import within 12 hours. So each month I found myself changing the categories around. There is not number to call for “technical” assistance. Both YNAB and Mint offer online training videos and tutorials that make learning quick and easy. Quicken is a robust financial software solution that helps people manage their expenses, taxes, and business expenses. There’s none of that with YNAB. Since you can get a full month free for … We know that managing finances is not easy. Both YNAB and Mint offer smartphone support via iOS and Android. It has problems and it’s the best product out there. But for me this is a huge deal-breaker since the amount of money in that account changes a lot each day. Changes made to your account on any device (smartphone, desktop, tablet, laptop) automatically carry over to other devices youâre using. Budgeting methods. We analyze and compare tools to help you make the best decisions for your personal financial situation. Your email address will not be published. You don’t even need to pull out a credit card to sign up. Budgeting or Saving. The amount of people that went from huge debt to debt free and months ahead is massive. Passwords are one-way salted and hashed, using multiple iterations of a key derivative function for passwords, making it nearly impossible for a hacker to determine the exact sequence. So the question of which service is better depends on your unique situation. You can use both services to track your spending, savings, and debt amounts, among other things. Itâs inaccurate on my mobile devise and displays a double version of all transactions. Finally, Mint gives you the ability to track your investments on the app but you can't manage them from within the app. I am not sure about investment accounts though. Instead, it sticks with its bread and butter focus on budgeting. Mint doesn’t even link to as many sites as BoA’s does. In this case, there’s actually a very clear winner. Mint was initially founded in 2007 and quickly grew its user base to over 2 million subscribers. 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. And why canât YNAB just automatically import transactions without the need for me to click on âImportâ when I see a number in parentheses? Two of the biggest budgeting apps out there are Mint by Intuit (the creators of Quicken) and YNAB, short for “You Need a Budget”. Mint and YNAB are the best. That’s all the info they show you. The service team when troubleshooting simply copies and pastes standard answers they have no clue what they are even sending. On the other hand, Mint is owned by a billion-dollar company, Intuit, so it’s not surprising that they will try to monetize you with “special offers.”. At initial setup, you can add all your accounts in a pretty seamless download process. YNAB and Mint are both known for their ability to help users with budgeting, but they have two different ways of doing that. For example, you can monitor your credit score for free with your Mint account—something you can’t do with a YNAB account. Here are the main features that YNAB offers: Mint’s spending and budgeting tools are available through an online account. I have no regrets with YNAB and would highly recommend it to anyone serious about improving their financial situation. Mint, however, gives you a bird’s eye view of your financial status. I am looking at last year’s expenditures to make sure our 2018 budget is more accurate, because some budgets have changed significantly from last year. On the other hand, if your primary focus is budgeting—and if you’re really serious about setting and making a budget—YNAB is probably the service you’ll want to use. There are several ways: Neither Mint nor YNAB offers customer service support via phone. When it comes to educating you about being fiscally responsible, YNAB takes things one step further. What Is Mint? YNAB charges $11.99 per month or $84 per year, with the first 34 days free so you can test it out. YNAB is a small, privately held company that offers personal budgeting software. My question was answered in less than three hours, and I was provided a link to their âget startedâ class, which is a tutorial that helps you prioritize your financial obligations and goals. However, YNAB is designed for this specific purpose in mind. Mint and YNAB are two of the world’s most popular online budgeting apps. You donât have to be a paying customer — or even signed up for the free trial — to take the class. It's a bit harder to use than most budgeting apps and that's because most budgeting apps … 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. Your email address will not be published. I tried YNAB briefly for the 34-day trial period. One of the largest considerations between mint vs. YNAB is the price. You might be wondering how they make money. There’s a nominal monthly fee, to be sure. We used mint for years, and recently stopped. When I just now imported into YNAB, none of these transactions appeared. Mint vs YNAB. Finally, Mint vs YNAB, Who Wins? YNAB isn’t showing you the whole pic if you have other assets than bank accounts. If you decide to pay for the service annually, it works out to $7/month, which is a much better deal. The accounts are displayed anonymously(citicards 1/2 linked). YNAB has a stellar onboarding process and support, while Mint is DIY. Both services make it easy to track spending. Signing up, Mint vs. YNAB? 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 … 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. Ruth holds an MS in Finance from Johns Hopkins Carey School of Business (1991) and a Business Management degree from University of Maryland (1984). 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?! This occurs in Mint and several other YNAB competitor products. The data is collected anonymously and does not reference back to any individual user. As an account holder, Mint will help you link all of your external financial accounts to your centralized Mint dashboard. Mint is a “do it all” set of financial tools – budgeting isn’t necessarily front and center. YNAB offers more advice and personal attention and seems to be genuinely geared toward helping you budget. Take Mint vs. YNAB forces you to assign every dollar to your budget, while Mint lets you choose. This is simply not true. 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