YNAB Costs Money – Mint Doesn’t (but there’s a catch) If you want to be a YNAB subscriber, you’ll have to chalk up $11.99 each month (or $84 annually). Founded in 2006, the company was acquired by Intuit in 2009. Update: Since publishing this Mint vs YNAB comparison, two significant events have occurred.First, YNAB 5 was released. It also doesnât remember a category. Go read the ynab subreddit and reviews. Give Every Dollar a Job It's not fluff. Quicken costs money, and Mint is free. 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. Instead, you click the “Import” button at the top of your account. YNAB is a small, privately held company that offers personal budgeting software. 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. You can also read our recent comparison of EveryDollar vs Mint for more considerations when it comes to budgeting tools. Required fields are marked *. YNAB is definitely my choice. It’s displayed at the top of your account every time you sign in. You can follow Ruth on: You can trust the integrity of our balanced, independent financial advice. Mint vs. YNAB: Customer Service You would think that both Mint and YNAB have the same or similar customer service options, but this isn’t so. YNABâs budgeting strategy is built on three rules designed to help you live within your means, get out of debt, save money and stop living paycheck to paycheck: Both apps have a lot of similarities. 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. Their interfaces and features are pretty similar. However, Mint is completely free. Helped me pay off all student loans last year and always know what my money is doing for me. YNAB offers email support (scroll to the bottom of that page to find the email contact link). Mint prides itself on making money make sense with minimal effort . YNAB vs Mint, Which is the Ultimate Winner? Once set up, Mint will remember repeating transactions so it will automatically match the same category in the future. YNAB is a budgeting machine, and you’ll be hard pressed to find any other app better. The information on Investor Junkie could be different from what you find when visiting a third-party website. Investment accounts. For example, you can monitor your credit score for free with your Mint account—something you can’t do with a YNAB account. Two years later my credit card debts are gone and I have $20K in the bank. 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. This site is definitely not better than Mint. Required fields are marked *. 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. Plus, both budgeting apps do an excellent job when it comes to goal tracking so you can set, track, and target your financial goals. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. You don’t even need to pull out a credit card to sign up. At initial setup, you can add all your accounts in a pretty seamless download process. After downloading and syncing your transactions, Mintâs software automatically separates them into predefined categories. Changes made to your account on any device (smartphone, desktop, tablet, laptop) automatically carry over to other devices youâre using. 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. 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. 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. YNAB Vs Mint: Overall Comparison. Both Mint and YNAB do a great job of helping you budget. YNABâs infrastructure is built on Heroku, which is the same technology used by the CIA. Mint is more about the present tracking of money and where it is going. I made four separate transactions with my credit card. Mint doesn’t even link to as many sites as BoA’s does. Itâs inaccurate on my mobile devise and displays a double version of all transactions. Personal Capital vs. YNAB – three top personal finance tools that are all known for managing slightly different aspects of your financial life. By comparing mint vs ynab vs everydollar you can find out the best application for your need. When it comes to educating you about being fiscally responsible, YNAB takes things one step further. YNAB account linking it terrible. While Quicken used to be Intuitâs lead product, Mint has become their sole focus since announcing the sale of Quicken. Budgeting apps can help you manage your money more wisely and keep tabs on financial goals. 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. marquette carney I also donât understand your description of the Mint iOS fingerprint feature. You can even integrate YNAB with your Amazon Echo device. But as the saying goes, if something is free, you are probably the product. YNAB advertises that all transactions in a checking, savings, or credit card account will be available for import within 12 hours. 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. Synchronization is an area where YNAB excels over Mint. Those who are truly looking to create and follow budg… Security is an important issue to anyone using an online budgeting app since your entire financial life could be exposed. To be clear, YNAB is all about helping you save money and budget better. Both companies also offer easy-to-use apps that keep you informed of your finances wherever life takes you. YNAB is like a budgeting tool that stretches a mile deep while Mint is a personal finance tool that incorporates budgeting but is a mile wide featuring other financial tools too. You donât have to be a paying customer — or even signed up for the free trial — to take the class. YNAB is $5 a month or $50 a year while Mint is free. But as the saying goes, if something is free, you are probably the product. I have no regrets with YNAB and would highly recommend it to anyone serious about improving their financial situation. Conclusion. 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. So why are you saying Mint has Touch ID Sensor security for iOS but YNAB does not? Mint was initially founded in 2007 and quickly grew its user base to over 2 million subscribers. As a YNAB customer, at least you’ll know how the company makes money. 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’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. No software has ever improved my life more than YNAB. Net Worth Trackers: Apps & Tracking Services, Cashback Rewards: How to Earn Extra Money With Rewards Apps. Both apps are very user-friendly when youâre on the go. YNAB is better for someone willing to invest time and energy into detailed budgeting, while Mint is … YNAB has a stellar onboarding process and support, while Mint is DIY. But you should be able to compensate for that by saving and spending more responsibly. Have you ever noticed anything like this? 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. If there’s a difference between the two, it’s that Mint is very hands off. With YNAB, it’s abundantly clear that they’ll support you every step of the way through your budget journey. Roll with The Punches I also made sure nothing was ‘hidden.’. Mint also offers value estimations of property, while YNAB does not. But for me this is a huge deal-breaker since the amount of money in that account changes a lot each day. 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. To get started using it, all you have to do is sign up for an account and add your banking, credit card and investment account information. Not only is it free, but it has substantial name recognition, a strong band, and a solid following that swears by its features. So the question of which service is better depends on your unique situation. There’s no charge to use it. You avoid the ads because it’s a paid service. Mint and YNAB are two of the most poplular budgeting apps on the market today. YNAB offers personalized budgeting software that can be accessed through an online account or via mobile apps. Both Mint and YNAB are designed to show you how and where you spend your money. Here are the main features that YNAB offers: Mint’s spending and budgeting tools are available through an online account. Mint and YNAB are two of the world’s most popular online budgeting apps. There’s none of that with YNAB. 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.”. In 2009, Intuit acquired Mint for $170 million. With the latest edition, YNAB has been rebuilt from the ground up. I will never in a million years touch that software again! Is is what we mean about differences in displaying a user’s net worth. 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. YNAB and Mint are both known for their ability to help users with budgeting, but they have two different ways of doing that. With YNAB’s free trial and Mint’s 100% free platform, you can try both for the first month to determine which of these budgeting tools is best for your financial situation. Save my name, email, and website in this browser for the next time I comment. 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. YNABâs last version was YNAB 4, which was a desktop-based application. ALL RIGHTS RESERVEDMILLENNIAL MONEY® IS A REGISTERED TRADEMARK OF MILLENNIAL MONEY LLC. Mint is built upon the old fashioned concept of making a monthly budget, setting goals, and then beating yourself into submission with guilt as … For example, a category of entertainment says we spent $200 for the year (I knew that was wrong! I feel you get a lot of bang for your buck with YNAB, and their customer support is outstanding. Mint and You Need a Budget (YNAB) are the two biggest standouts when it comes to managing your finances. Mint, on the other hand, now seems like more of a report card after the money has already been spent. Helping make finance easy. Learn how each app works and find out which is best for your needs. YNAB helps you save money and get a handle on your finances. Mint also provides free credit score monitoring, something YNAB doesn't, and while that may not be an integral part of the budgeting process, but it can be a useful perk. And why canât YNAB just automatically import transactions without the need for me to click on âImportâ when I see a number in parentheses? Both Mint.com and the YNAB app are designed to make budgeting painless and effective. Both are owned by the same company: Intuit. 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. Both, in fact, are excellent budgeting apps and comparable to each other in most ways. A CFP professional weighs in on how these three differ and … The accounts are displayed anonymously(citicards 1/2 linked). With Mint, every time you visit the site, your financial data gets updated automatically. All products are presented without warranty. If you are serious about budgeting, you can’t go wrong with either one. If you want to be a YNAB subscriber, you’ll have to chalk up $11.99 each month (or $84 annually). Even YNAB itself states that loans and investment accounts are not automatically synched and must be manually updated. If you canât find the answer to your question, you can either email the team or hit the chat button for online help. I had to use support maybe twice and had no issues. I am not sure about investment accounts though. I would say that YNAB’s platform is a little easier to use and understand. For example, if you’re in debt, you might start to see offers for debt consolidation. Android users can download the app in the Google Play Store, where Mint is rated at 4.6 stars (out of 5). Wondering how YNAB compares to Mint, another top budgeting app? We compare YNAB vs. Mint in a head to head comparison that you can use to decide if mint is the one for you. Get started today, risk-free, with their 34 day free trial. Both websites can aid in budgeting. If you are serious about keeping track of your budgeting and finances, it’s probably worth paying the small monthly fee. YNAB enabled me to see the day to day choices I was making and it opened my eyes. Just wanted to get people's input as to your opinions on Mint.com vs. YNAB. 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. Albert. All products are presented without warranty. Worth every penny. Can’t beat that. Mint also sells the aggregate (not your individual) financial data to various providers. Unless you opt for Mint’s Credit Monitoring service, you won’t be charged any fees to use Mint. 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. Each interaction you make with your YNAB account will, in one way or another, tie back to the rules listed above. You know where your money is going and can manage your finances well with either one. You can also download the Mint app, which is rated at 4.7 stars (out of 5) in the App Store. It has a cult following for a reason. For a paid service I’d expect better service. I also choose YNAB. What Is Mint? Ynab. So it’s budgeting tools are more front and center. Is YNAB worth the $60? I use YNAB daily and occasionally Mint. While you canât modify the top-level categories, you can create and add your own subcategories. YNABâs training is more comprehensive, and their customer service seems more responsive. 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. Mint is a financial tracking app and budgeting tool offered by Intuit. Mint, on the other hand, is a 100% free budgeting software. I understand that YNAB doesnât import anything other than my beginning balance with my Fidelity Investments account. There is a learning curve but they have plenty of training videos to help around. Let’s jump right in and start with the basics. YNAB vs. Mint: Which Budgeting App is Better? As I’m chatting with strangers in the grocery store, as I meander up and down the aisles, sticking to the outside to keep things healthy, sometimes, I end up talking about what I do. If you’d like to learn more, here’s a quick video that gives an overview of the four rules. They are different, if Mint works better for you, great :) Every Dollar too has tight security but not as effective as YNAB and Mint. Touch ID sensor for iOS: This quickly reads your fingerprint and unlocks your phone, allowing you quick access to the Mint.com app. Ynab vs Mint: Here is a full Comparison of Ynab and Mint with detailed Features & Review and which is better. I have tried Mint, and several others with not help with my budget as most budgeting software tracks spending at best. They don’t share or sell your data or try to upsell you on other services. 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. It's a bit harder to use than most budgeting apps and that's because most budgeting apps have you … This occurs in Mint and several other YNAB competitor products. In this case, there’s actually a very clear winner. Take Mint vs. Your email address will not be published. Itâs 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. 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. I guess it’s okay for getting an overall view of your money, if you don’t have a BoA account. We may, however, receive compensation from the issuers of some products mentioned in this article. Both Mint and YNAB offer helpful self-service customer support platforms. The software presents your financial information in a slick, easy-to-use web interface, with information and pretty graphs on a user-friendly dashboard. Budgeting is all YNAB does, and that focused mission shows in the platformâs user-friendliness and ease. Mint (see our review) is a free online personal finance service similar to Quicken, but without any software to install. Yes. If you have a goal of trying to improve your credit score, getting out of debt will be one of the main ways you'll accomplish that goal. At the time of this writing, YNAB is offering a 34-day free trial to new customers. YNAB stands for “You Need a Budget.” The company was founded in 2004 by a husband-and-wife team Julie and Jesse. 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. When you stack up YNAB vs Mint, they are really designed for a different kind of user. 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