Press question mark to learn the rest of the keyboard shortcuts. Going to give the YNAB free trial a shot. I appreciate it! Sooo much YNAB. Both Mint and YNAB provide a user-friendly tool to improve your money management skills—and financial future —by helping you budget effectively. Forward planning. Mint vs. YNAB – Which Budgeting App Is Better? 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. Founded in 2006, the company was acquired by Intuit in 2009. I’ve never been so in control of my budget and actually stuck with it. YNAB vs. Quicken: Customer Service. Related to personal finance, budgeting, money and financial matters. save. This past year I didn’t reach my savings goals... despite working from home and not spending money traveling/restaurants/coffee/transit etc. in YNAB, i handle it by creating a category called “budget next month.” all my current month’s income goes into that category. I used mint for a bit alongside a spreadsheet. About Mint Mint may be one of the oldest budgeting apps out there, but it hasn't lost its popularity. I don't look at my account and have to guess at what bills I need to pay before me money comes in. 3 years ago I use the old YNAB before the subscription and prefer to keep it that way. Mint vs YNAB: Which One Is Better? A discussion subreddit for popular budgeting software You Need A Budget. Go read the ynab subreddit and reviews. That makes Mint part of the same family of software as popular small business accounting app QuickBooks and tax prep program TurboTax. We've also taken a closer look at Mint vs. YNAB. If you decide to go that route, there are some great tutorials to … Mint is a free app that also offers you access to your credit score. In July, I decided to take a break from old-school budgeting (via an Excel spreadsheet) and join the 21st Century. The biggest difference for me comes when looking at my bank balance and knowing what all the dollars have commitments for. Way too passive. Lustre recommends the best products at their lowest prices – right on Amazon. With more than 15,000 users, Mint may be the most popular budgeting app available. Thanks for the insight! Quicken vs. YNAB: Whom Are They Better For? Get it here ... YNAB. YNAB is completely different, took a little getting used to and I was very hesitant to pay the $84. 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. My favorite thing to do each month. The user interface is lacking. Mint vs YNAB. Thank you for the recommendation (and warning). With YNAB, you can plan your budget months in advance. https://www.youtube.com/watch?v=uyZHS63f6HY. So when comparing YNAB vs Mint, which one wins? Go read the ynab subreddit and reviews. then when the new month rolls around, i move the money from that category to TBB. 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. it’s really similar to how YNAB 4 had a “budget [next month]” category. When it comes to YNAB vs. Mint, here's our 4 reasons why YNAB is the clear winner. But I can’t be happier and feel much more in control. This category is where Mint and YNAB begin to differentiate themselves. I’ve been reading through this post and looking at some other resources. Perhaps it only works for people with brains that think in a certain kind of way? I appreciate your comment! That’s the whole point. The answer depends on your own financial situation and what you need the budgeting app to do. Edit: Thank you for all the feedback, kind comments, and resources posted. Mint offers the most general personal finance features of these apps. Published on September 16, 2016 January 2, 2020 by MinimalMelody. It is more safe and secure budgeting application. Will bookmark this YouTube channel and use it as a reference. (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.) I can’t say that Mint is better than YNAB or vice versa. It’s making a huge difference. What are the main differences you see? 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. All my accounts in one place sort of thing. YNABs app is a lot more simple and straight to the point yet easier to get a more holistic view on your finances. Also, they do offer FAQ pages and Help Docs, as well as a community forum, that will help to answer the most basic questions. The best way to explain it is Mint is more detailed but less hands on while YNAB is more simplistic and more hands-on. Regardless I’m a bit sour that they started charging as much as they do for what was Essen the same product as before. I’m excited try something other than a static budget, which is all Mint really gives me. Imports are also easier. Advertising Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. share . 4.7 star rating. This is why you’ve never heard anyone say that Mint changed their lives. YNAB has you fund these categories as you receive income, all the dollars are allocated somewhere. Update Officially started YNAB today. General. Unless they added a bunch of stuff. 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. With both services, you can create budgets, and track your expenses from the credit card and bank accounts you have linked. I just hated using mint and didn't realize it. 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. But, they do have a few key differences that you should consider when selecting the right option for you. A lot of people like it. While Mint and YNAB both offer bill management tools, Personal Capital does not. Question: is there a way to auto-fill updates from your accounts into Excel? 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. In mo… There is something about paying to save money that always makes me skeptical. YNAB vs. Other Budgeting Apps . 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. In my personal experience — I used mint for 12 years and it’s so PASSIVE. Ynab. Personal Capital vs. YNAB vs. Mint – Where each app shines. After watching Millenial Money, I noticed some of their audience heavily praises YNAB. 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. The amount of people that went from huge debt to debt free and months ahead is massive. 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. 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. 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. Then get the Pivot tables set up. Thank you! In this case, there’s actually a very clear winner. But I was very reluctant to pay for a budgeting app; seemed counterintuitive. When I talk to other users, the features below are what people love about these apps. Ynab only lets you budget what you have and forces you to prioritize it in real time. Home Budgeting Tools: Mint vs. YNAB. We may receive compensation when you click on links to those products or services . Unable to remember category based on merchant. YNAB is built on getting one month ahead with your finances. Investment Management: Personal Capital is the only app of the three that can manage your investments (for a fee). 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 admit it was a pretty big mind shift to get my head wrapped around the system. ETA: Used Mint for a decade without any improvement. Thank you for the thoughtful comment. So, let's look at Mint vs. YNAB and see if we can determine which will be the better fit for your finances. 100% Upvoted. Mint saved me from the budgeting woes of Quicken almost a decade ago. I seriously can't say enough good things about it. I’ve used Mint and Every Dollar and they didn’t work for me. I used Mint for years, was always a little unsatisfied and could never put my finger on why until looking into YNAB. YNAB is older than Mint and aims to create total control of your money. Not all budgeting apps are made equal; it's all about perspective. YNAB Vs Mint: Overall Comparison. Below is a summary of their features to help you make … I had watched multiple videos. After having experience with all three of these money tools, I’ve noticed some standout features with each. Be the first to share what you think! Does YNAB let you track future charges, like lets say if an old gym membership charges you out of the blue? 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. Press J to jump to the feed. It's much easier to set up and change your budget. While both services can be very helpful in the creation of budgets, they have slightly different approaches. I loved your Mint vs. Quicken review. I thought it was insane that people would pay for a program to help them budget... until I tried it. Mint vs YNAB: Which app should you choose? I was just about to comment that haha... formulas and all, I use mint to aggregate everything for me them export to excel. But there's just something about keeping a budget in excel that always does the trick. Press question mark to learn the rest of the keyboard shortcuts. I’ve been using it since 2011 and I don’t have the same anxiety about money anymore. Personally went from debt after a divorce to two solid months ahead and zero debt except my mortgage. 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. Mint Basics. 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 actually love YNAB. 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.”. Before choosing the best budgeting and personal finance app for your needs, … I definitely have picked up some tricks from learning about the software (like sinking funds and a wish farm) that I use without YNAB. I’m currently on Mint (free service). Conclusion. The first difference you should know about these companies is that Mint is free, whereas YNAB is going to cost you. I’m not sure. Feel free to post any news, questions, budget strategies, tips & tricks and advice related to YNAB. YNAB and Mint are both known for their ability to help users with budgeting, but they have two different ways of doing that. 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. report. 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. It’s been life changing for my personal financial health and confidence. That money is long gone. First, YNAB … I agree with you! Since you’ve made it this far, it should be clear Mint and YNAB offer slightly different services. 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. Everyone justifies the cost because it's gotten them out of massive debt but I just see it as an expense. You and to overspend? I never know where it all goes, just that I’m over my Mint budget each month. Or do you have to track that yourself? This point combined with 2 is the main reason it's such a pain. Mint's also less smart at categorizing transfers. YNAB is here to help anyone get started with … Okay; where are you taking that money from? Exactly what I need right now. Categorizing stuff was always a headache for me because I never remember what I mean to categorize it to. Budgeting methods. 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? Thank you so much for the detailed response! Find the best product instantly. Sold on starting with YNAB, and transitioning out of using Mint for budgeting. Mint and You Need a Budget (YNAB) are the two biggest standouts when it comes to managing your finances. There is no direct phone or email contact available. Discuss and ask questions about personal finances, budgeting, income, retirement plans, insurance, investing, and frugality. 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. Money expert Clark Howard is a fan of Mint.com and says it’s great for automatically tracking your expenses. 0 comments. People say this but I found it hard to budget / plan with this. And it can be argued thatYNAB shines here because helping you budget is its stated mission and gets greater emphasis. The question of which service is better depends on your unique situation. I've used both tools and still use Mint for simplicity. I would have to do a bunch of calculations and projections each time to make sure I had everything covered. I’ve been customizing and exploring Simplifi for a few weeks now and here are my thoughts. I had a really hard time wrapping my brain around YNAB even after trying it and using multiple videos. It's not fluff. Don't know why people keep making this comparison. Thanks to my friends over at Decluttering the Stuff for suggesting I write this post. hide. I’d just set budgets and overspend and look at the red and then so it again. Yeah, I agree. best. They’re both designed to show you how and where you spend your money, but it’s clear they offer slightly different … while not as native as YNAB 4, it’s the same concept. It doesn’t prevent you from reallocation, but does make you do it with intention when you do. Mint vs Simplifi. 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 used to think I was bad with manual entry, or checking my budget. A lot of people are mentioning forward planning vs backward tracking, but that wasn't what bothered me. 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. I personally like mint as an overall financial tracking tool. While this is a manual process and somewhat confusing at first once you get it it will change your life. 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. And much easier to check your budget on the go before making a purchase. 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. bit.ly/2jYB7sH Join my top rated program Source: https://millennialmoneyman.com/ynab-vs-mint-which-budgeting-app-is-best/ What will you not save for, or give up until next month? . 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. 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! Sort by. A lot of folks (including myself) had budgets in Mint, but never really used it to actively manage our daily spending and prioritization. Press J to jump to the feed. Thank you! I'm genuinely curious because I've been using Mint for a couple years now, but have heard great things about YNAB. Mint vs. YNAB: Which One is Better For Me? Personal Capital’s top features Retirement Planner. 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. 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