The Mint budgeting app shut down at the end of March, disappointing many of the millions of customers who'd come to rely on it. The popular app helped its users to set financial goals, pay down debt, track spending, and manage their money.
Last year, Intuit -- the company that bought Mint in 2009 -- announced that it would close down the application. It offered users the option to switch their accounts to Credit Karma, another Intuit company. Unfortunately, Credit Karma is not really a budgeting app. It gives a good overview of your finances, but it won't help you make a budget or actively get a handle on your finances.
If you're missing the Mint magic and haven't found a good replacement, check out our full list of top budgeting apps for more info.
Our favorite Mint alternatives
We test-drove some of the most popular budgeting apps to find out which ones might make good Mint replacements. Here are the top three.
1. YNAB (You Need a Budget)
Monthly price: $14.99 (paid monthly) or $8.25 (paid annually)
You Need a Budget does not have a free service. However, it does offer a free 34-day trial, which means you can test out the service for several weeks before you commit. It also boasts that its users saved an average of $6,000 in their first year. It will appeal to people who follow the zero-based budget system, where every dollar has a job.
The interface is easy to use and you can sync with your bank account to automatically track your spending. YNAB takes a very human approach to money, and even offers live courses on aspects of managing your finances and using the app. It also has a dedicated page for former Mint users to help them switch.
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2. PocketGuard
Monthly price: Free version with limited features. Otherwise $12.99 (paid monthly) or $6.25 (paid annually). Discounts are available, as well as a lifetime subscription.
I have tried a number of budgeting apps, and for me, PocketGuard is the most accessible. It was a piece of cake to input my income and spending. Plus, its built-in personal finance course covers everything from paying down debt to choosing the right budgeting technique for you.
The paid version lets you set up money goals and even lower the cost of some of your regular bills through a partnership with Billshark. Like YNAB, PocketGuard has introduced a Mint transfer feature to make it easy for users to switch to its product.
3. Goodbudget
Price: Free version with limited functionality. Or pay $10 a month or $80 a year for the premium version.
Goodbudget will appeal to fans of the envelope budgeting system. This is where you split your cash into different envelopes for each spending category. It's particularly good if you're trying to pay down debt, and its budget bootcamp is accessible and easy to understand.
If you want to jointly manage your household budget, you'll need to upgrade to the premium plan to connect multiple users. This paid version also lets you connect multiple bank accounts and enable automatic bank syncing so you don't have to input each transaction manually. It would be nice to see two-factor authentication for added security.
Choosing the right budgeting app
Finding a new app can be a pain, especially when your finances are involved. Take the time to experiment to find one that works for you. Pay attention to security: If an app is transparent about its policies, encrypts data, and has multi-factor authentication, that's a good start.
Think about what features you'll actually use. For example, there's no point in paying for a tool that says it will cut your subscription costs if you barely have any subscriptions. Speaking of subscriptions, a lot of budgeting apps will charge a fee for anything more than the bare-bones service. Your regular mobile banking app might have useful -- and free -- budgeting tools, so check them out before you commit to a paid external app.
Key takeaway
Budgeting apps can be a fantastic way to both set a budget and help you stick to it. It isn't just about tracking your spending, the apps will help you to actively manage your money day to day and be more conscious about your financial decisions.
Don't let Mint's demise derail your finances. Think about the features of Mint that were most useful to you, and look for a different app to replace it. You never know, you might even prefer your new budgeting app.
