Mint vs You Need A Budget (YNAB) (best budgeting apps / software)
|FREE / PAID
YNAB offers a 34-day free trial. After that, they charge $11.99/month or $84/year.
Mint is free to use, but features ads and offers from partners. They also have a premium version called Mint Plus at $25/year.
YNAB is a powerful tool With a unique approach to budgeting helps use your money more effectively. But it has a learning curve.
Wide range of features make Mint a one-stop-shop for budgeting. But watch for ads and potential data issues.
You Need A Budget (YNAB) Pros & Cons
Great customer support
Comprehensive budgeting tools ️
Goals setting and tracking
Free trial available
Mint Pros & Cons
Strong budgeting features
Free to use
Excellent financial tracking
Credit score tracking
Wide range of alerts ⏰
Slightly steep learning curve ♂️
More expensive than other apps
No bill tracking options
Limited account types
Lacks two-factor authentication
Only US and Canada supported
Ads can be intrusive
Limited investment tracking
Data accuracy can sometimes be an issue
Customer service can be slow ⌛
Lack of savings goals
Other best budgeting apps
PocketGuard is great for those wanting simple, low effort budgeting.👍 But the free version is limited and there could be more customization options.⚙️
EveryDollar is an easy to use budgeting app with great user experience.💎 But it lacks some features in the free version.💼
Mint offers numerous features including tracking bills, budgeting, credit score monitoring, and investment tracking. It brings together all of your financial information into one place, resulting in a complete picture of your financial health.
YNAB uses bank-level encryption and secure servers to protect your financial information. In addition, the app doesn’t store your bank credentials, adding an extra layer of security.
Absolutely, with Mint you can set a variety of financial goals, such as saving for a vacation or paying down debt, and the app will help you track your progress towards these goals.
While YNAB is incredibly powerful and versatile, it does have a bit of a learning curve. The app offers comprehensive onboard training and tutorials to help you get started and learn its features.
While you can’t make updates to your Mint account without a connection, you can view downloaded data offline. However, for live updates to your accounts and transactions, you need an internet connection.
Yes, YNAB allows for shared budgeting. This feature is particularly useful for couples or individuals living in the same household who want to manage their finances together.
Yes, Mint provides an overview of your investment accounts, allowing you to track their performance directly within the app.
While YNAB doesn’t directly support tracking investments, it encourages users to list them as off-budget accounts. This means that although you can’t track their performance within the app, you can still account for them in your overall financial picture.
Yes, Mint provides a feature for credit score tracking. It offers free credit score access and provides insights on how you can improve your score.
YNAB doesn’t directly provide credit score tracking or tips. However, by aiding in budget management and encouraging financial responsibility, it could indirectly help improve your credit score.
Mint earns revenue through its bill pay feature, referral fees from suggested financial products and services, and targeted advertisements based on personal financial information.
No, YNAB supports only one currency per budget. If you have accounts in different currencies, you will need to create separate budgets for each.
No, Mint doesn’t limit the number of accounts you can connect. You can link your checking, savings, credit card, investment, loan, and retirement accounts all in the same place.
Yes, in addition to importing transactions from your bank, YNAB also allows for manual entry. This can be useful for future transactions or cash transactions that won’t be imported.
Yes, Mint provides customizable alerts for various scenarios, such as high spending, low balances, or upcoming bills due, helping keep your finances on track.
Absolutely, YNAB provides a wealth of resources to help users learn how to effectively budget. These include live workshops, how-to videos, guides, and a supportive user community.
Mint is widely favored for its simplicity and comprehensive financial tracking capabilities. It syncs with all your bank accounts, credit cards, and even investments, providing a real-time summary of your finances. Mint also automatically categorizes transactions, supports bill tracking, and suggests budgets based on your spending habits. The free credit score tracking is another plus. Mint’s user-friendly interface and multi-faceted functionality make it a common pick for budget-conscious users.
Using Mint is completely free. The product earns revenue through partner offers and recommendations, enabling users to access its extensive features at no cost. However, specific services like the bill pay function were discontinued.
Mint prioritizes user security by implementing bank-level data encryption and implementing multi-factor authentication. They do not sell personal information and have protective measures in place to safeguard against unauthorized access.
Yes, Mint enables users to monitor their credit scores for free and provides insights into factors affecting the score. Regular monitoring aids in identifying errors, which is critical in maintaining a healthy credit profile and potentially boosting your credit rating.
While both Mint and You Need A Budget (YNAB) offer budgeting and expense tracking features, their approaches are distinct. Mint is more passive, focusing on tracking and categorizing transactions, while YNAB promotes active budgeting, urging users to assign every dollar a job. YNAB operates on a zero-based budgeting principle and encourages users to live off last month’s income.
No, YNAB is not a free app. They offer a 34-day free trial, but after that, a subscription fee is applicable. The cost is $11.99 monthly or $84 annually. However, users often find the app’s value in its ability to help save money outweighs the subscription cost.
Yes, YNAB offers free access for 12 months for students with proof of enrollment. Students will have to email their student ID or other proof to access this benefit.
No, you cannot access YNAB without an internet connection. The app operates in the cloud, meaning all data is stored and accessed online. YNAB is available on the web, as well as iOS and Android devices, but requires internet connectivity to function optimally.
The primary advantages of using YNAB include active engagement with your budget, habit building, gaining control over your financial picture, and reducing financial stress. YNAB’s methodology teaches effective budgeting practices, and many users report saving more money after using the app for a few months.
Yes, YNAB supports direct import from a vast range of banks and credit cards. This feature automates transaction input into your budget, saving you time and ensuring accuracy.
While you can view your investments and overall net worth through Mint, the app doesn’t support managing or optimizing your investments. On the other hand, YNAB doesn’t offer any investment tracking features at all, focusing solely on budgeting and spending.
YNAB uses bank-level encryption to protect your data, and only you will have access to your login credentials. While YNAB does import your transactions for easy tracking, it’s a one-way connection, and the app cannot access or manipulate your accounts.
Both Mint and YNAB include features that assist users in managing and reducing debt. Mint provides a straightforward view of all loans and balances, which can help in formulating a payoff plan. On the other hand, YNAB’s budgeting principles like give every dollar a job and age your money encourage debt reduction by avoiding new debt and planning for future expenses.
Yes, both Mint and YNAB support goal setting. With Mint, you can create custom saving, spending and debt payoff goals. In YNAB, you can specify a category for fiscal goals and allocate funds towards them. This feature allows users to plan better for future expenses, be it debt repayment, a vacation, or an emergency fund.
No, neither Mint nor YNAB support multiple currencies. Both of them operate only in the currency of your financial institution.
You can use Mint only in the United States and Canada, as linked accounts have to be from financial institutions based in these countries. YNAB, on the other hand, can be used anywhere since it supports manual input, but automatic syncing of bank accounts is available only for US and Canadian institutions.
Yes, both Mint and YNAB can serve as useful tools for self-employed individuals. These apps can provide overviews of income and spending, track business expenses, manage tax-related transactions, and more. For a detailed view, users can create a separate budget for business accounts.
Yes, both Mint and YNAB offer extensive customer support. Mint provides a comprehensive Help Center with articles on various topics and the ability to contact their support team. YNAB offers a Knowledge base with articles and videos, live workshops, and an option to get support from their team via chat or email.