I have trusted my data with both companies and would do so again. MINT VS YNAB: INVESTMENT TRACKING. While Quicken used to be Intuitâs lead product, Mint has become their sole focus since announcing the sale of Quicken. Mint and YNAB can both be beneficial services. 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. Both apps are very user-friendly when youâre on the go. The Mint app was started in 2006 and was acquired by Intuit in 2009. Two-factor authentication: In addition to password protection, Mint wonât let you access your account until you validate the device youâre using either via the email address you used when you signed up or by a SMS text message to your cellphone. Mint might offer you a comprehensive picture of your personal finances but YNAB is a much better and user-friendly tool for budgeting. There is not number to call for “technical” assistance. 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. Both services make it easy to track spending. Investor Junkie has advertising relationships with some of the offers listed on this website. YNAB vs. Mint.com. YNAB and Mint both offer very secure mobile apps and web platforms. Let’s jump right in and start with the basics. What Is Mint? When comparing these two Every Dollar lost the battle. YNAB’s training is more comprehensive, and their customer service seems more responsive. Here are the main features that YNAB offers: Mint’s spending and budgeting tools are available through an online account. 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. 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. The answer to this depends on your expectations for your personal financial tools. Finally, Mint gives you the ability to track your investments on the app but you can't manage them from within the app. As you might expect from a service that’s run by a billion-dollar company, Mint offers more services and features than YNAB does. 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. Wrapping up this YNAB vs Mint review, these two budgeting tools are very different. Save my name, email, and website in this browser for the next time I comment. Response to my specific inquiry from Mint was slow. Both provide a user-friendly tool to improve your money management skills — and financial future — by helping you budget effectively. So when comparing YNAB vs Mint, which one wins? Key site security measures include: We believe two-factor authentication is more secure than a password alone and would choose Mint over YNAB when considering security protection. As account aggregators, both do a fine job of allowing you to see all of your financial accounts at once. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. No means to properly track. For more information, please read our. 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. 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?! 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. I do have to manually update the balances for some of them but those associated with my bank can import automatically. After all, it would be counterproductive to sign up for both services; the entire purpose of an online budgeting tool is to reduce the number of accounts you have to log in to. You avoid the ads because it’s a paid service. When you click on the support button on Mintâs website, there is a list of common questions and issues you can scroll through to help yourself. 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. 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. We used mint for years, and recently stopped. Investor Junkie strives to keep its information accurate and up to date. Mint, however, gives you a bird’s eye view of your financial status. The amount of people that went from huge debt to debt free and months ahead is massive. Budget alert email from Mint. YNAB may offer similar alerts but I did not receive any during my trial. But you should be able to compensate for that by saving and spending more responsibly. Itâs in the accounts section. Instead of logging into multiples sites, you can log onto Mint to see all of your bills. For example, if you’re in debt, you might start to see offers for debt consolidation. So it’s budgeting tools are more front and center. 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. 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. The lack of online functionality prior to 2016 was one of the reasons we recommended Mint over YNAB in the past. The company now has over 20 million users and is widely recognized as the most popular budgeting app. I have no regrets with YNAB and would highly recommend it to anyone serious about improving their financial situation. When I just now imported into YNAB, none of these transactions appeared. Both websites can aid in budgeting. Spotty customer service seems to be a recurring experience of users who post on their website forum. Mint and YNAB are two of the world’s most popular online budgeting apps. ), 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! Budgeting is all YNAB does, and that focused mission shows in the platformâs user-friendliness and ease. Youâll find that help in the user forums on both Mint and YNAB. Your email address will not be published. If you are serious about keeping track of your budgeting and finances, it’s probably worth paying the small monthly fee. Neither Mint nor YNAB offers customer service support via phone. Check out my post on 51 money-saving tips. Android users can download the app in the Google Play Store, where Mint is rated at 4.6 stars (out of 5). I use YNAB and I have “tracking” accounts for my mortgage, IRAs for myself and my husband, our vehicles, and our retirement accounts. It's a bit harder to use than most budgeting apps and that's because most budgeting apps … We break down the comparison into these categories: Budgeting, Account Synchronization, Cost, Customer Service and Education, Security, and Mobile Access. 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. YNAB advertises that all transactions in a checking, savings, or credit card account will be available for import within 12 hours. YNAB is definitely my choice. For example , when you set the category for mortgage on your mortgage payment, the next month it recategorized it again to something else. Since Mint is already free, there are no promotions available. I also choose YNAB. 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. Founded in 2007, Mint is a budgeting tool that was acquired by Intuit, the same company behind similar financial solutions like TurboTax and QuickBooks. 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. Learn how each app works and find out which is best for your needs. Mint also offers value estimations of property, while YNAB does not. Both are owned by the same company: Intuit. With the latest edition, YNAB has been rebuilt from the ground up. With YNAB, it’s abundantly clear that they’ll support you every step of the way through your budget journey. Archived. Both YNAB and Mint offer online training videos and tutorials that make learning quick and easy. Take Mint vs. Before choosing the best budgeting and personal finance app for your needs, check out this comparison of two of the most popular. Two years later my credit card debts are gone and I have $20K in the bank. Itâs inaccurate on my mobile devise and displays a double version of all transactions. You can learn more about Mint’s security features here. 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 use YNAB. 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. Get started today, risk-free, with their 34 day free trial. YNAB has a stellar onboarding process and support, while Mint is DIY. mint vs ynab. Both are now online services and compatible across all the devices you might choose to use. 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. Worth every penny. Mint is 100% free to use. Required fields are marked *. There are several ways: Neither Mint nor YNAB offers customer service support via phone. Your email address will not be published. Mint will then automatically populate this data into your account so you can have a full understanding of your financial picture—all in one place. I use YNAB daily and occasionally Mint. 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. There is a learning curve but they have plenty of training videos to help around. There’s none of that with YNAB. 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. 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. And why canât YNAB just automatically import transactions without the need for me to click on âImportâ when I see a number in parentheses? What sort of assets are you referring to? Investment accounts. 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. The most important reason people chose Mint is: Mint has the edge over YNAB when it comes to tracking your 401(k), IRA, or other retirement and taxable accounts. The data is collected anonymously and does not reference back to any individual user. Budgeting or Saving. Mint is a personal budgeting and financial tracking service. 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.”. Ruth holds an MS in Finance from Johns Hopkins Carey School of Business (1991) and a Business Management degree from University of Maryland (1984). Required fields are marked *. 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. So why are you saying Mint has Touch ID Sensor security for iOS but YNAB does not? If you want to be a YNAB subscriber, you’ll have to chalk up $11.99 each month (or $84 annually). Mint offers âways to saveâ by recommending various financial services from which they get a referral fee, Youâll also find banner ads in various parts of the website, which provide revenue, You can sign up for premium access to your credit report for a small fee. 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. Both Mint.com and the YNAB app are designed to make budgeting painless and effective. It's nice to aggregate several investment accounts – including retirement plans – on the same platform, even if it's not yet super developed yet. In my opinion, the web interface is much easier to use that the app. It has a very steep learning curve and when it did not work properly for me and did not meet my expectations of how a budgeting platform should operate, I was immediately jumped on, hounded, and insulted by YNAB’s fanatical fanbase. #3. Your email address will not be published. So how do YNAB and Mint compare? Additionally, everybody can benefit from the help and support that comes from regular interaction with others in similar circumstances. YNAB doesn’t include all assets unlike Mint.com does. In this case, there’s actually a very clear winner. THE GOOD STUFF: Both YNAB and Mint are zero-sum budgeting tools, making you account for every dollar. Since you can get a full month free for … Both Mint and YNAB offer helpful self-service customer support platforms. Whereas, YNAB takes a different approach. Both YNAB and Mint offer smartphone support via iOS and Android. Start your 34-day free trial with YNAB here. ©2015-2020 MILLENNIAL MONEY LLC. YNAB offers personalized budgeting software that can be accessed through an online account or via mobile apps. 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. Itâs basic function as a budget app doesnât even function. If you’re searching for a new car, expect to see more ads about cars and auto loans. Investor Junkie strives to keep its information accurate and up to date. Mint and YNAB each encourage you to set financial goals and pay off debt fast. 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. YNAB, which stands for âYou Need a Budget,â and Intuitâs Mint have grown to become two of the most popular online budgeting apps available. As a YNAB customer, at least you’ll know how the company makes money. 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. For a more in-depth overview of YNAB’s security features, check this out. 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. Mint and YNAB are two of the most poplular budgeting apps on the market today. I’ve tried several others, but most have additional fees associated with downloading your account information, as well as either monthly or annual fees. Error in the differences listed above. When you stack up YNAB vs Mint, they are really designed for a different kind of user. 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. You know where your money is going and can manage your finances well with either one. Things like: consumer spending, the average credit card balance, how many retirement accounts a user might have, etc. Yesterday, between the hours of 8:00 A.M. and 5:00 P.M. Mint, on the other hand, now seems like more of a report card after the money has already been spent. Posted by u/[deleted] 5 years ago. By comparing mint vs ynab vs everydollar you can find out the best application for your need. If you need help from a real person, Mint offers live-chat support seven days a week from 5 a.m. until 9 p.m. Pacific Time. 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. You can even integrate YNAB with your Amazon Echo device. It has problems and it’s the best product out there. Android users can download YNAB in the Google Play Store, where the app has a 4.1-star rating (out of 5). Of course better customer service might be expected from a paid service than a free one. Mint and YNAB are the best. Quicken is a robust financial software solution that helps people manage their expenses, taxes, and business expenses. Mint vs YNAB. To be clear, YNAB is all about helping you save money and budget better. It has a cult following for a reason. Investor Junkie is your shortcut to financial freedom. We analyze and compare tools to help you make the best decisions for your personal financial situation. Things like your credit score, … YNABâs training is more comprehensive, and their customer service seems more responsive. Close. Both have been around long enough that theyâre viable options to choose between for basic budgeting. Mint was initially founded in 2007 and quickly grew its user base to over 2 million subscribers. Both, in fact, are excellent budgeting apps and comparable to each other in most ways. Drawbacks of YNAB. Touch ID sensor for iOS: This quickly reads your fingerprint and unlocks your phone, allowing you quick access to the Mint.com app. If you decide to pay for the service annually, it works out to $7/month, which is a much better deal. Security is an important issue to anyone using an online budgeting app since your entire financial life could be exposed. Both companies also offer easy-to-use apps that keep you informed of your finances wherever life takes you. With Mint, I received email alerts when a category was over budget and also when a due date was approaching. YNAB offers email support (scroll to the bottom of that page to find the email contact link). Mint vs. YNAB – Which Budgeting App Is Better? Each also publishes a blog, MintLife and The YNAB Blog, with educational articles to help you improve your money management skills. For example, you can monitor your credit score for free with your Mint account—something you can’t do with a YNAB account. I tried YNAB briefly for the 34-day trial period. YNAB vs Mint: Which Budgeting Tool Reigns Supreme? You donât have to be a paying customer — or even signed up for the free trial — to take the class. Based on your needs and requirement you can choose between YNAB and Mint. The software presents your financial information in a slick, easy-to-use web interface, with information and pretty graphs on a user-friendly dashboard. Mint and YNAB are two of the world’s most popular online budgeting apps. Both software platforms allow you to link your accounts (bank, credit cards, loans, etc.) To compare YNAB vs. Mint effectively, you have to break them down by category. I would say that YNAB’s platform is a little easier to use and understand. YNAB Vs Mint: Overall Comparison. YNAB offers more advice and personal attention and seems to be genuinely geared toward helping you budget. Both platforms provide automatic synchronization of your bank, credit card and loan accounts with many financial institutions. Mint vs. YNAB: Customer Service. I made four separate transactions with my credit card. For a paid service I’d expect better service. Mint is a financial tracking app and budgeting tool offered by Intuit. While Mint and YNAB have a lot in common, the two companies stand out from each other in a number of ways. It’s one less thing to worry about. While the purpose of the tools is similar, there are some differences in terms of how they tackle budgeting. The accounts are displayed anonymously(citicards 1/2 linked). ALL RIGHTS RESERVEDMILLENNIAL MONEY® IS A REGISTERED TRADEMARK OF MILLENNIAL MONEY LLC. But, they do have a few key differences that you should consider when selecting the right option for you. We use mint. Mint vs YNAB: Which app should you choose? Mint is built upon the old fashioned concept of making a monthly budget, setting goals, and then beating yourself into submission with guilt as … YNAB account linking it terrible. While you canât modify the top-level categories, you can create and add your own subcategories. 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. Mint vs YNAB: User Interface. Now, with the new YNAB, you no longer need to manually enter your transactions to make sure you've captured all of them in YNAB. Since you’ve made it this far, it should be clear Mint and YNAB offer slightly different services. Does YNAB have difficulty interfacing on a Chromebooks platform? and import transactions automatically, synchronizing your entire financial picture in one place. Ready to learn more about saving money and starting your journey on the path that leads to financial independence? 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. #4. However, YNAB is designed for this specific purpose in mind. Finally, Mint vs YNAB, Who Wins? YNAB stands for “You Need a Budget.” The company was founded in 2004 by a husband-and-wife team Julie and Jesse. 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