I don't look at my account and have to guess at what bills I need to pay before me money comes in. Sold on starting with YNAB, and transitioning out of using Mint for budgeting. YNAB Summary. Forward planning. YNAB vs. Other Budgeting Apps . You get a month free see what you think! You and to overspend? while not as native as YNAB 4, it’s the same concept. The first difference you should know about these companies is that Mint is free, whereas YNAB is going to cost you. I’m currently on Mint (free service). Thanks for the insight! It's much easier to enter a transaction manually. Have a glimpse of its pros and cons to take the final decision. Lustre recommends the best products at their lowest prices – right on Amazon. 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. Mint vs. YNAB – Which Budgeting App Is Better? A lot of people are mentioning forward planning vs backward tracking, but that wasn't what bothered me. Personal Capital vs. YNAB vs. Mint – Where each app shines. Log in or sign up to leave a comment Log In Sign Up. Mint's also less smart at categorizing transfers. I had a really hard time wrapping my brain around YNAB even after trying it and using multiple videos. The truth is, budgeting is the key to unlocking the life you want to live. YNABs app is a lot more simple and straight to the point yet easier to get a more holistic view on your finances. Both the Mint app and the YNAB app are full feature budgeting apps that can help you manage your money and understand your true expenses each month. YNAB gives me the ability to look at what I want to spend ahead of time, as well as budgeting what I have available prior to my next pay. If anyone's interested in learning it happy to help. YNAB vs. Quicken: Customer Service. 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. The budgeting tool is so user unfriendly :(( And the categorizing takes forever, I almost always have to do it manually since Mint doesn’t often categorize it correctly. I just hated using mint and didn't realize it. Mint vs. YNAB: Which One is Better For Me? Mint tracked what I did after the fact, and it was something I'd look at and go "oops went over" while continuing on with overspending. I never know where it all goes, just that I’m over my Mint budget each month. Personal Capital’s top features Retirement Planner. I like excel because i can look around my budgeting sheet at work and it looks like I'm being productive, New comments cannot be posted and votes cannot be cast, More posts from the FinancialPlanning community. We've also taken a closer look at Mint vs. YNAB. My main hesitation is that something doesn't sit right with me about paying for a budgeting tool, but I am really curious about the differences between the two platforms. It's not fluff. Update Officially started YNAB today. It doesn’t prevent you from reallocation, but does make you do it with intention when you do. What makes YNAB worth the price for you? I’d just set budgets and overspend and look at the red and then so it again. Me too. save. There is something about paying to save money that always makes me skeptical. I actually love YNAB. report. Categorizing stuff was always a headache for me because I never remember what I mean to categorize it to. Mint is a free app that also offers you access to your credit score. Be the first to share what you think! This category is where Mint and YNAB begin to differentiate themselves. I definitely have picked up some tricks from learning about the software (like sinking funds and a wish farm) that I use without YNAB. All my accounts in one place sort of thing. What are the main differences you see? Also, they do offer FAQ pages and Help Docs, as well as a community forum, that will help to answer the most basic questions. Unique Features Features Unique to Mint . Mint Bills & Money Built By the Slant team. I’m saving an insane amount of money toward multiple long-term goals, putting aside money monthly toward periodic expenses ranging from biannual bills to Christmas and birthday gifts... It’s so much more than I would have expected it to be. no comments yet. Advertising Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. But I can’t be happier and feel much more in control. YNAB is older than Mint and aims to create total control of your money. But, they do have a few key differences that you should consider when selecting the right option for you. The founders built CountAbout to be a Quicken alternative. Everyone justifies the cost because it's gotten them out of massive debt but I just see it as an expense. And much easier to check your budget on the go before making a purchase. The answer depends on your own financial situation and what you need the budgeting app to do. Definitely a bit overwhelming with all the options/layout. Mint does have the benefit of being integrated with every single bank account and company … YNAB vs Mint. Unable to remember category based on merchant. They recently switched from Mint to YNAB and can’t help but wonder how much further along they would be financially if they had only found YNAB sooner. I used Mint for years, was always a little unsatisfied and could never put my finger on why until looking into YNAB. I used to think I was bad with manual entry, or checking my budget. I appreciate it! Press J to jump to the feed. YNAB Vs Mint: Overall Comparison. I’ve been reading through this post and looking at some other resources. in YNAB, i handle it by creating a category called “budget next month.” all my current month’s income goes into that category. So the question of which service is better depends on your unique situation. Money expert Clark Howard is a fan of Mint.com and says it’s great for automatically tracking your expenses. Thank you! A lot of people steer clear from budgeting because they think budgets are going to hold them back. I thought it was insane that people would pay for a program to help them budget... until I tried it. I’ve used Mint and Every Dollar and they didn’t work for me. YNAB and Mint are both known for their ability to help users with budgeting, but they have two different ways of doing that. Don't know why people keep making this comparison. I used mint for a bit alongside a spreadsheet. 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. Sooo much YNAB. The amount of people that went from huge debt to debt free and months ahead is massive. With YNAB, when you need (or want) to spend more than you've budgeted, YNAB's method encourages you to adjust your plan rather than keep it as is to acknowledge that the money for that extra spending has to come from somewhere. 100% Upvoted. In this video, I'm going to do an overview of the three most popular budgeting apps: Mint, YNAB, and EveryDollar.Please subscribe and leave comments below! Reading the subreddit as I researched different products actually made me doubt if it is right for me since I don't have any debt and am already saving a large part of my income. The best way to explain it is Mint is more detailed but less hands on while YNAB is more simplistic and more hands-on. Updated July 29, 2020. Mint vs Simplifi. After having experience with all three of these money tools, I’ve noticed some standout features with each. then when the new month rolls around, i move the money from that category to TBB. Imports are also easier. I used to pretty much break even; now I have maxed out retirement contributions and am saving aggressively for 3 separate long term goals (combined over 5 figures in 6-7 months.). When looking at any money management app, it's a good idea to take some time to think about what you want to accomplish and what you need in your finances. Perhaps it only works for people with brains that think in a certain kind of way? Conclusion. Go read the ynab subreddit and reviews. First, YNAB … It's a bit harder to use than most budgeting apps and that's because most budgeting apps have you budget money you don't have. Mint vs YNAB: Which One Is Better? I have also used Mint some. The user interface is lacking. Budgeting methods. After watching Millenial Money, I noticed some of their audience heavily praises YNAB. Investment Management: Personal Capital is the only app of the three that can manage your investments (for a fee). Discuss and ask questions about personal finances, budgeting, income, retirement plans, insurance, investing, and frugality. Both Mint and YNAB provide a user-friendly tool to improve your money management skills—and financial future —by helping you budget effectively. I’ve used Mint since 2010 and like how it has evolved to include bill reminders, credit score updates and net worth tracking. Thank you for the thoughtful comment. Published on September 16, 2016 January 2, 2020 by MinimalMelody. While both services can be very helpful in the creation of budgets, they have slightly different approaches. Go read the ynab subreddit and reviews. We may receive compensation when you click on links to those products or services . Not all budgeting apps are made equal; it's all about perspective. Below is a summary of their features to help you make … YNAB is here to help anyone get started with … It has a cult following for a reason. I would have to do a bunch of calculations and projections each time to make sure I had everything covered. It's not fluff. Get it here ... YNAB. Both applications are accessible via the web and on mobile devices, but YNAB will set you back a small monthly fee whereas Mint is 100% free. 2 have had similar results and the third, my sister in law, just paid off a massive credit card debt she had and is about a year away from fully paying off another cc for a total of about 25k in cc debt. bit.ly/2jYB7sH Join my top rated program Source: https://millennialmoneyman.com/ynab-vs-mint-which-budgeting-app-is-best/ I seriously can't say enough good things about it. I admit it was a pretty big mind shift to get my head wrapped around the system. It's a web-based app but also available for mobile devices, where you can link your bank accounts, credit cards, brokerage accounts, loans and credit cards. In mo… (It costs money, but after what happened to Mint I consider "sustainable business model that doesn't involve selling your data" a feature for this sort of service.) Mint is built upon the old fashioned concept of making a monthly budget, setting goals, and then beating yourself into submission with guilt as you fail every month. The question of which service is better depends on your unique situation. I’ve been using it since 2011 and I don’t have the same anxiety about money anymore. Thank you! This point combined with 2 is the main reason it's such a pain. Alternatively, you can contact them via email. I loved your Mint vs. Quicken review. Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. It is more safe and secure budgeting application. I’m not sure. best. I can’t say that Mint is better than YNAB or vice versa. Thank you so much for the detailed response! Our savings has grown dramatically while simultaneously improving our quality of life. share . Do you have a simpler way to understand it? Sort by. But there's just something about keeping a budget in excel that always does the trick. Then get the Pivot tables set up. But in five months, it has absolutely changed everything. What do you mean by this? Before choosing the best budgeting and personal finance app for your needs, … So when comparing YNAB vs Mint, which one wins? Ynab and mint aren't even in the same category. If you set up all your accounts, and get an email at the end of the month full of pie charts showing that you spent an obscene amount of money in restaurants—you still spent an obscene amount of money in restaurants. Unless they added a bunch of stuff. I’ve been customizing and exploring Simplifi for a few weeks now and here are my thoughts. It’s been life changing for my personal financial health and confidence. That money is long gone. While Mint and YNAB both offer bill management tools, Personal Capital does not. I agree with you! I’ll most likely keep both, for the same reasons you listed above. This is why you’ve never heard anyone say that Mint changed their lives. Personally went from debt after a divorce to two solid months ahead and zero debt except my mortgage. It’s making a huge difference. I’m excited try something other than a static budget, which is all Mint really gives me. YNAB is built on getting one month ahead with your finances. I was just about to comment that haha... formulas and all, I use mint to aggregate everything for me them export to excel. Or do you have to track that yourself? YNAB vs. Mint: Which Budgeting App Is Best? In fact, all the months are intricately linked. But I was very reluctant to pay for a budgeting app; seemed counterintuitive. Fair warning: switching to the YNAB method takes some adjustment to the way you think about budgeting, so go at it with an open mind and really use the YNAB resources and also Nick True's YNAB videos on YouTube to familiarize yourself with the new system. I personally like mint as an overall financial tracking tool. I’m not alone on that either. My favorite thing to do each month. In this case, there’s actually a very clear winner. Unable to get a fuller view of accounts + transactions , and which transactions appear in which account, and what the balances on the accounts are. Yeah, I agree. I’m currently on Mint (free service). Mint offers the most general personal finance features of these apps. 3 years ago I use the old YNAB before the subscription and prefer to keep it that way. Going to give the YNAB free trial a shot. After switching to YNAB, I realize how un-user friendly the mint app is. When it comes to YNAB vs. Mint, here's our 4 reasons why YNAB is the clear winner. If you feel like Mint is more of a tool for looking at data and graphs than tool for helping you spend your money more wisely, than YNAB might be worth a try. A lot of people like it. Home Budgeting Tools: Mint vs. YNAB. . I appreciate your comment! 16 8 minute read. Find the best product instantly. And it can be argued thatYNAB shines here because helping you budget is its stated mission and gets greater emphasis. Exactly what I need right now. Question: is there a way to auto-fill updates from your accounts into Excel? With both services, you can create budgets, and track your expenses from the credit card and bank accounts you have linked. My wife finds it nice for being able to see at a glance all of our accounts, since we have a number of investment accounts in particular that she’s paranoid she will forget somehow. I've gotten three people to try it. Press question mark to learn the rest of the keyboard shortcuts. Mint Basics. Much different than Mint, and I’m still trying to switch my understanding to budgeting for the money I have in my account versus future cash flow :)). To compare YNAB vs. Mint effectively, you have to break them down by category. Okay; where are you taking that money from? Thanks for responding :)) Mint feels passive and hasn’t been working for me. 4.7 star rating. ETA: Used Mint for a decade without any improvement. For those looking for a simple quick-start tool to help them get a handle on their money and make better budgeting decisions, YNAB is likely to be the better choice. For example, when my wife would say, “can we afford this vacation?” I would look at my balance and think, well, there’s enough in there, but what other short and long term commitments do I need to cover with this money? After watching Millenial Money, I noticed some of their audience heavily praises YNAB. This past year I didn’t reach my savings goals... despite working from home and not spending money traveling/restaurants/coffee/transit etc. Here’s Lindsey’s story in her own words: It’s no secret to my financial coaching clients and blog readers that I am a long-time Mint enthusiast. I've used both tools and still use Mint for simplicity. Founded in 2006, the company was acquired by Intuit in 2009. They’re both designed to show you how and where you spend your money, but it’s clear they offer slightly different … https://www.youtube.com/watch?v=uyZHS63f6HY. Edit: Thank you for all the feedback, kind comments, and resources posted. YNAB forces you to make decisions. Ruth Lyons July 10, 2020. It has a cult following for a reason. You Need A Budget. Thanks to my friends over at Decluttering the Stuff for suggesting I write this post. Feel free to post any news, questions, budget strategies, tips & tricks and advice related to YNAB. With YNAB, you can plan your budget months in advance. It's a bit harder to use than most budgeting apps and that's because most budgeting apps have you budget money you don't have. There are plenty of these discussions if you search, but the short answer you'll hear most often is that Mint can feel more backward-looking and passive, whereas YNAB forces you to be more forward-looking and active. I have been a Mint user since mid-2017 and quickly jumped on-board when I first heard of Simplifi’s release, hoping to have finally found a paid alternative to Mint. The biggest difference for me comes when looking at my bank balance and knowing what all the dollars have commitments for. A lot of folks (including myself) had budgets in Mint, but never really used it to actively manage our daily spending and prioritization. Financius. What will you not save for, or give up until next month? 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. There is no direct phone or email contact available. Ynab only lets you budget what you have and forces you to prioritize it in real time. hide. If you decide to go that route, there are some great tutorials to … it’s really similar to how YNAB 4 had a “budget [next month]” category. That makes Mint part of the same family of software as popular small business accounting app QuickBooks and tax prep program TurboTax. Ynab. In July, I decided to take a break from old-school budgeting (via an Excel spreadsheet) and join the 21st Century. YNAB is much better at budgeting. People say this but I found it hard to budget / plan with this. Mint saved me from the budgeting woes of Quicken almost a decade ago. Going to the app, you are bombarded with a bunch of things (not just the ads but other graphs and whatever too) before being able to view your budget categories, Unable to customize budgeting categories, leaving you with a huge list. While this is a manual process and somewhat confusing at first once you get it it will change your life. The amount of people that went from huge debt to debt free and months ahead is massive. I had watched multiple videos. Mint vs YNAB: Which app should you choose? So, let's look at Mint vs. YNAB and see if we can determine which will be the better fit for your finances. Will bookmark this YouTube channel and use it as a reference. When I talk to other users, the features below are what people love about these apps. YNAB is completely different, took a little getting used to and I was very hesitant to pay the $84. Mint is simply a tracker. Quicken vs. YNAB: Whom Are They Better For? It's much easier to set up and change your budget. mint vs ynab Two of the biggest budgeting apps out there are Mint by Intuit (the creators of Quicken) and YNAB , short for “You Need a Budget”. I'm genuinely curious because I've been using Mint for a couple years now, but have heard great things about YNAB. Thank you for the recommendation (and warning). YNAB, all the way. General. It's basically the bank integration that Mint and YNAB have, but instead of being forced to use their interface it backs out the data into an Excel/Google spreadsheet that you can build your own system on top of. Study: Best Budgeting Software - Quicken vs Mint vs YNAB If you want to get ahead in life, you're going to have to make a budget and stick to it. Since you’ve made it this far, it should be clear Mint and YNAB offer slightly different services. Related to personal finance, budgeting, money and financial matters. Mint vs YNAB. The one thing I miss about mint is being able to assign money to category groups and not just categories, but that is a small fix in YNAB by just having to do an additional manual step. In my personal experience — I used mint for 12 years and it’s so PASSIVE. A discussion subreddit for popular budgeting software You Need A Budget. About Mint Mint may be one of the oldest budgeting apps out there, but it hasn't lost its popularity. You can think of YNAB as a personal finance app that specializes in budgeting whereas Mint has a broader suite of tools that include budgeting, bill payments, tax reporting, and investment tracking. Add to Chrome Add to Edge Add to Firefox Add to Opera Add to Brave Add to Safari. It is freaking amazing. Does YNAB let you track future charges, like lets say if an old gym membership charges you out of the blue? What makes YNAB worth the price for you? Way too passive. Mint and You Need a Budget (YNAB) are the two biggest standouts when it comes to managing your finances. I’ve never been so in control of my budget and actually stuck with it. When my wife says, hey I want to spend an extra $1000 on this next vacation, I can just say, “show me what categories it’s coming from.”. With more than 15,000 users, Mint may be the most popular budgeting app available. 0 comments. Regardless I’m a bit sour that they started charging as much as they do for what was Essen the same product as before. Update : Since publishing this Mint vs YNAB comparison, two significant events have occurred. In this YNAB vs Mint comparison, we’ll break down the ins and outs of both apps to help you see which one can help you budget better and save more money. YNAB has you fund these categories as you receive income, all the dollars are allocated somewhere. That’s the whole point. Most likely keep both, for the same category to understand it for 12 years and can! 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