So each month I found myself changing the categories around. YNAB offers personalized budgeting software that can be accessed through an online account or via mobile apps. Mint vs YNAB: User Interface. Mint vs YNAB. Mint offers “ways to save” by recommending various financial services from which they get a referral fee, You’ll 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. 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. 1 1 11. Mint’s budgeting software is also easy to use and visually appealing. 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 strategy behind YNAB’s saving and spending principles can be summarized by their Four Simple Rules for Successful Budgeting, which are as follows: #1. This is simply not true. YNAB doesn’t include all assets unlike Mint.com does. I also made sure nothing was ‘hidden.’. It's nice to aggregate several investment accounts – including retirement plans – on the same platform, even if it's not yet super developed yet. If you’d like to learn more, here’s a quick video that gives an overview of the four rules. The most important reason people chose Mint is: What YNAB Does that Mint Doesn't. YNAB is definitely my choice. It’s basic function as a budget app doesn’t even function. The budgeting app is free but comes at the cost of advertisements that can be distractive. For more information, please read our. In this case, there’s actually a very clear winner. Budgeting methods. 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. When you click on the support button on Mint’s website, there is a list of common questions and issues you can scroll through to help yourself. 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. THE GOOD STUFF: Both YNAB and Mint are zero-sum budgeting tools, making you account for every dollar. 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?! We know that managing finances is not easy. Budget alert email from Mint. Worth every penny. 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. Save my name, email, and website in this browser for the next time I comment. How an application looks and is designed can have a lot to do with how much you like it. I had to use support maybe twice and had no issues. They don’t share or sell your data or try to upsell you on other services. Get started today, risk-free, with their 34 day free trial. Conclusion. While the purpose of the tools is similar, there are some differences in terms of how they tackle budgeting. Your email address will not be published. To be clear, YNAB is all about helping you save money and budget better. Budgeting is all YNAB does, and that focused mission shows in the platform’s user-friendliness and ease. 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. Two of the biggest budgeting apps out there are Mint by Intuit (the creators of Quicken) and YNAB, short for “You Need a Budget”. 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. It’s not even an IM Chat, it’s an email! YNAB’s training is more comprehensive, and their customer service seems more responsive. Investment accounts. I’ll correct that error in the comparison. So when comparing YNAB vs Mint, which one wins? We used mint for years, and recently stopped. Mint was initially founded in 2007 and quickly grew its user base to over 2 million subscribers. The Bottom Line: Mint Automates Your Finances, YNAB Gets Hands-On With Your Money. Your email address will not be published. Here are the main features that YNAB offers: Mint’s spending and budgeting tools are available through an online account. Both, in fact, are excellent budgeting apps and comparable to each other in most ways. Mint also sells anonymized customer data to third parties. 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. Go read the ynab subreddit and reviews. Archived. Of course better customer service might be expected from a paid service than a free one. 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. 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 also doesn’t remember a category. YNAB is a small, privately held company that offers personal budgeting software. Mint, on the other hand, now seems like more of a report card after the money has already been spent. Founded in 2006, the company was acquired by Intuit in 2009. If you are serious about keeping track of your budgeting and finances, it’s probably worth paying the small monthly fee. For example, you can monitor your credit score for free with your Mint account—something you can’t do with a YNAB account. These third parties then use your data to target you with ads that might fit your situation. YNAB vs. Mint: The Budgeting App Showdown. If the buttons are the right size, labels and menu names make sense, and things are colored coded it can make the user experience awesome. I made four separate transactions with my credit card. Embrace Your True Expenses So how do YNAB and Mint compare? YNAB is better for someone willing to invest time and energy into detailed budgeting, while Mint … I found more categories to also be in error. 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. For example , when you set the category for mortgage on your mortgage payment, the next month it recategorized it again to something else. YNAB’s training is more comprehensive, and their customer service seems more responsive. What sort of assets are you referring to? Key site security measures include: Mint also is concerned about the security of your personal and stored information. YNAB’s last version was YNAB 4, which was a desktop-based application. I've used Mint.com off an on for a 3-4 years, but quit when my finances weren't as dire. Both Mint and YNAB provide a user-friendly tool to improve your money management skills—and financial future —by helping you budget effectively. Changes made to your account on any device (smartphone, desktop, tablet, laptop) automatically carry over to other devices you’re using. Mint keeps an eye on your money so you don’t have to. You might be wondering how they make money. The software presents your financial information in a slick, easy-to-use web interface, with information and pretty graphs on a user-friendly dashboard. I would say that both companies, more or less, tie when it comes to the customer support category. Mint is a financial tracking app and budgeting tool offered by Intuit. 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. We use mint. Drawbacks of YNAB. Mint vs YNAB: Which app should you choose? 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. 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. Instead, it sticks with its bread and butter focus on budgeting. Update: Since publishing this Mint vs YNAB comparison, two significant events have occurred.First, YNAB 5 was released. In my opinion, the web interface is much easier to use that the app. Let's talk about what's common with the online budgeting services. It’s inaccurate on my mobile devise and displays a double version of all transactions. Mint vs. YNAB: Customer Service. Both software platforms allow you to link your accounts (bank, credit cards, loans, etc.) The Mint app was started in 2006 and was acquired by Intuit in 2009. Since you can get a full month free for … Since Mint is already free, there are no promotions available. But you should be able to compensate for that by saving and spending more responsibly. 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. YNAB costs $11.99 each month or $84 annually. For more information, please read our. YNAB stands for “You Need a Budget.” The company was founded in 2004 by a husband-and-wife team Julie and Jesse. The data is collected anonymously and does not reference back to any individual user. Mint prides itself on making money make sense with minimal effort . Mint doesn’t even link to as many sites as BoA’s does. And then you'd repeat that process for all of your accounts. You don’t have to be a paying customer — or even signed up for the free trial — to take the class. mint vs ynab. If you’re searching for a new car, expect to see more ads about cars and auto loans. When comparing Mint vs YNAB, the Slant community recommends Mint for most people.In the question“What are the best cross-platform budgeting apps?”Mint is ranked 2nd while YNAB is ranked 9th. Mint has the edge over YNAB when it comes to tracking your 401(k), IRA, or other retirement and taxable accounts. What is the main difference between Mint vs. YNAB? Helping make finance easy. Things like: consumer spending, the average credit card balance, how many retirement accounts a user might have, etc. This may have changed since your response, YNAB has allowed me to link student and auto loans, and credit cards. Budgeting or Saving. and import transactions automatically, synchronizing your entire financial picture in one place. 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. Both platforms provide automatic synchronization of your bank, credit card and loan accounts with many financial institutions. The first difference you should know about these companies is that Mint is free, whereas YNAB is going to cost you. I am not sure about investment accounts though. You can even integrate YNAB with your Amazon Echo device. Both provide a user-friendly tool to improve your money management skills — and financial future — by helping you budget effectively. My question was answered in less than three hours, and I was provided a link to their “get started” class, which is a tutorial that helps you prioritize your financial obligations and goals. When I just now imported into YNAB, none of these transactions appeared. Check out my post on 51 money-saving tips. One of the largest considerations between mint vs. YNAB is the price. 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. Yes. 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. Mint is a personal budgeting and financial tracking service. With YNAB, it’s abundantly clear that they’ll support you every step of the way through your budget journey. Keep reading to learn more about where each product shines and also where they fall short. All products are presented without warranty. You’ll find that help in the user forums on both Mint and YNAB. Mint might offer you a comprehensive picture of your personal finances but YNAB is a much better and user-friendly tool for budgeting. 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 will never in a million years touch that software again! Investor Junkie is your shortcut to financial freedom. 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. Mint also sells the aggregate (not your individual) financial data to various providers. I understand that YNAB doesn’t import anything other than my beginning balance with my Fidelity Investments account. Personal Capital vs. YNAB – three top personal finance tools that are all known for managing slightly different aspects of your financial life. Mint and YNAB can both be beneficial services. 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. Mint has more financial tools than YNAB. Both have been around long enough that they’re viable options to choose between for basic budgeting. With the latest edition, YNAB has been rebuilt from the ground up. YNAB charges $11.99 per month or $84 per year, with the first 34 days free so you can test it out. I use YNAB and I have “tracking” accounts for my mortgage, IRAs for myself and my husband, our vehicles, and our retirement accounts. 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. Signing up, Mint vs. YNAB? But as the saying goes, if something is free, you are probably the product. Can’t beat that. Mint is built upon the old fashioned concept of making a monthly budget, setting goals, and then beating yourself into submission with guilt as … Quicken is a robust financial software solution that helps people manage their expenses, taxes, and business expenses. Both YNAB and Mint offer smartphone support via iOS and Android. YNAB vs Mint: Which Budgeting Tool Reigns Supreme? The amount of people that went from huge debt to debt free and months ahead is massive. The question of which service is better depends on your unique situation. 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 weren’t for a couple of deal-breakers. There is not number to call for “technical” assistance. I guess it’s okay for getting an overall view of your money, if you don’t have a BoA account. YNAB Vs Mint: Overall Comparison. 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.”. 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. No software has ever improved my life more than YNAB. The company now has over 20 million users and is widely recognized as the most popular budgeting app. I use YNAB. Security is an important issue to anyone using an online budgeting app since your entire financial life could be exposed. Each interaction you make with your YNAB account will, in one way or another, tie back to the rules listed above. Both websites can aid in budgeting. You can use both services to track your spending, savings, and debt amounts, among other things. But we have recently decided to recommend YNAB, because Mint has had many synchronization issues and poor customer support issues over the years. There’s a nominal monthly fee, to be sure. No means to properly track. YNAB offers email support with the promise that you’ll receive a reply from a real person within 24 hours of sending your question or concern. 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. Instead, you click the “Import” button at the top of your account. YNAB helps you save money and get a handle on your finances. You know where your money is going and can manage your finances well with either one. Of course better customer service might be expected from a paid service than a free one. Mint vs. YNAB – Which Budgeting App Is Better? Mintis a popular budgeting app that can track your bills, budget, investments, and a lot more. Take Mint vs. Mint (see our review) is a free online personal finance service similar to Quicken, but without any software to install. Touch ID sensor for iOS: This quickly reads your fingerprint and unlocks your phone, allowing you quick access to the Mint.com app. Ruth holds an MS in Finance from Johns Hopkins Carey School of Business (1991) and a Business Management degree from University of Maryland (1984). Mint, on the other hand, is nice enough, but it really doesn’t provide much more information than Bank of America’s website “My Portfolio” functionality. Both YNAB and Mint offer online training videos and tutorials that make learning quick and easy. I also choose YNAB. #2. Does YNAB have difficulty interfacing on a Chromebooks platform? 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. This site is definitely not better than Mint. The service team when troubleshooting simply copies and pastes standard answers they have no clue what they are even sending. 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. While Mint and YNAB have a lot in common, the two companies stand out from each other in a number of ways. 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. Founded in 2007, Mint is a budgeting tool that was acquired by Intuit, the same company behind similar financial solutions like TurboTax and QuickBooks. Mint, on the other hand, is a 100% free budgeting software. Since you’ve made it this far, it should be clear Mint and YNAB offer slightly different services. Both apps are very user-friendly when you’re on the go. There’s none of that with YNAB. So, even though Mint is free, YNAB’s $11.99 a month fee may very well be worth it for glitch-free synchronization and responsive customer support. I use YNAB daily and occasionally Mint. We analyze and compare tools to help you make the best decisions for your personal financial situation. Both companies also offer easy-to-use apps that keep you informed of your finances wherever life takes you. Helped me pay off all student loans last year and always know what my money is doing for me. Response to my specific inquiry from Mint was slow. 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 … Is is what we mean about differences in displaying a user’s net worth. 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. Let’s jump right in and start with the basics. The lack of online functionality prior to 2016 was one of the reasons we recommended Mint over YNAB in the past. While Quicken used to be Intuit’s lead product, Mint has become their sole focus since announcing the sale of Quicken. From Podcast #197: The Difference Between Mint and YNAB, the one in which Jesse—wait for it—explains the difference between Mint and YNAB with television and movie analogies. Required fields are marked *. 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. Mint is a free option and while it has a few bugs, it’s a solid product at no cost. Data is encrypted, so it can’t be read even if the hard drives were stolen. Both are owned by the same company: Intuit. Both provide a program that lets you know exactly where you are spending money in an easy-to-understand graphical format. Staff members do not have access to customer data unless requested by the customer or required by law. It has problems and it’s the best product out there. Required fields are marked *. I have tried Mint, and several others with not help with my budget as most budgeting software tracks spending at best. 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