I personally prefer to just use a monthly budgeting tool that helps me keep track of how much I am spending and what category my spending falls in. Mint lets you set bill pay reminders. They’ve grown to over 10 million active users, seeing over 250 billion transactions per year. I’ve been a long time Mint user (probably since 2008 or so) and the continuing syncing problems became the main reason I’m switching to Personal Capital. The change transaction date feature has been requested for years and PC ignores it. Hi Larry, considering a mobile app to help track finances and budget. 0.89% of the first $1 million 2. Overtime the Mint functionality has drastically improved (for the better) and I use it every month to monitor and manage my miscellaneous budgets. Linking accounts to Personal Capital and Mint, Personal Capital vs. Mint – More to know, Personal Capital’s Retirement Fee Analyzer, What M$M readers are saying about Personal Capital vs. Mint, Personal Capital vs. Mint – My final word. I love the You Index to track your investment performance relative to the S&P and Dow. I really don’t see any reason for not using both tools. Sign up for free with Personal Capital today and get $20 when you join. So, here’s what readers in my Millennial Money Man Facebook Community are saying: “I like Mint for tracking my expenses and spending, I think at this point, because I’ve finally gotten it the way I like it, I find it’s more accurate and less time-consuming… I prefer PC for tracking my investments and net worth.”, “For a tool like this, I’m much more concerned with investing and retirement planning than budgeting, so Personal Capital fits my needs much better. I’ve actually deleted and recreated my account multiple times to recreate portfolios as either Personal Capital support has never responded to my support questions although PC sales rep called me over 15 times last year. 13 Best Delivery Apps to Work For – Make $200/Day? Investor Junkie has advertising relationships with some of the offers listed on this website. I noticed however that neither Mint nor PC has the reconciliation feature. I saw that bill pay tool, but we already have our stuff on a system. Both of these apps have over a decade of growth under their belt, and they have the features to prove it. I have been a DIY investment “manager” most of the last decade plus for my wife and I, so I am not sure if I would use the paid adviser service. Thanks. Mint: Mint launched in 2006 and was quickly … We won’t have to compare costs as there aren’t any! I did an online chat and, within 10 minutes, had it solved. and they said that they support it. Not sure if it’s the same as Mint, but Mint requests your bank card # and the password you use to log into that bank card on the bank’s own website. Personal Capital Like Mint, Personal Capital goes one step beyond just being a standard budgeting app and provides smart ways to manage your entire financial strategy. For users who need help using Personal Capital… You can see how Mint compares to other popular budgeting apps: My only real complaint about budgeting with Mint is that they sometimes miscategorize transactions in strange ways. I like to see all my spending transactions as they come in and I make sure everything is categorized properly. Personal Capital vs. Mint, how does each app stack up? Personal Capital and Mint both give you an overview of your spending and investments but in different ways. Why do they not allow me to split my credit card payment into its component parts? This is a deal killer for me too. But, Personal Capital still offers a much better user experience IMHO. Personal Capital does NOT show IRR. Mint’s goal is to give you an overview of your finances by offering a variety of personal finance tools, like: They also offer investment tracking and goal setting tools, but they aren’t as robust as what Personal Capital offers. When I had a recent issue with syncing with Vanguard accounts, the folks at Mint told me it must be because I or Vanguard made some kind of change to the account information (neither, as far as I can tell). When you first start out in trying to manage your money, I think that thinking too far ahead could overwhelm you. I’ve even been able to contact Personal Capital to help my readers with some of their questions. This keeps me up to date on our spending habits, and ensures there are no incorrect or fraudulent charges on our accounts. I don’t need investment advice so I can track all holdings with Vanguard if Mint fails to fix itself. You don’t have to click on any of these, but know that you’ll see them. You can sign up for Personal Capital here and get $20 when you join. Would you recommend Personal Capital to someone like me? I started with Mint years and years ago, when it was first becoming popular and have had it ever since. Mint has no way I know of to print out a year-end spending report for tax preparation. He’s had a passion for investing since he was 20 years old and has owned multiple businesses for over 20 years. Since both are cloud-based and read-only services, nothing prevents you from using both simultaneously. Since I’m talking about Personal Capital vs. Mint, I’m going to focus on the free version of PC, which has a lot to offer. When you first start out in trying to manage your money, I think that thinking too far ahead could overwhelm you. Mint has Pending Transactions, click on that I will see transactions that are not final but up to date. I like Mint for tracking my expenses and spending, I think at this point, because I’ve finally gotten it the way I like it, I find it’s more accurate and less time consuming. Also, Mint allows me to change the name of vendors from an incorrect name to a standard name in the foreground. This doesn’t mean that you should overlook Mint, because they clearly offer an awesome budgeting tool, and you should check Mint out if you’re interested. Mint uses its in-house system to sync with financial institutions, which means that Mint has been very unreliable to the point where synchronization stops working. I then delved into the cloud apps out there. Neither can be used at the moment for tax planning. I’m unable to receive more than a few months data from one of my checking accounts. You can do a manual investment where you manually update it. All products are presented without warranty. Odd, I have a tweet from their Chief Product Officer in 2016 where they told me that they don’t support HSAs. Plus right now Personal Capital has a great deal going on for readers: You can get a FREE portfolio review valued at $799. Personal Capital is an investment platform with limited budgeting or billing capacity, while Mint.com is a budgeting platform with little investment support. Happens about 3 times a year. Your email address will not be published. Final Verdict Mint vs. Any advice or have others had this problem? When we compare like Personal Capital vs. Mint, they both help you invest and manage your wealth. Personal Capital vs. Mint – Which Is Best for You? There are around 100 different budgeting subcategories, and you can also create your own. Mint makes its money off of ads, which are tailored to your financial situation. After that, there are a few differences…. For customer service – Personal Capital wins. The main thing that Personal Capital doesn’t seem to work with is HSAs. For example, under “Allocation,” I can click on “U.S. Your request is responded to quickly, usually within 24 hours. I tried to use Mint several years ago, but had difficulty linking all of my accounts. Both money tracking tools clearly have some great features, but there are a few more differences I want to point out about each. Personal Capital offers two services, a paid version that acts more like a robo-advisor for clients with over $200K in investment assets and a free one that can be used by anyone. personal capital has fixed a problem that they had previously, namely that you could not customize categories for transactions and expenses. You’ll notice Personal Capital’s dashboard is more investing/net worth focused, while Mint’s focuses more on spending and budgeting. I love the You Index to track your investment performance relative to the S&P and Dow. I’m going to break down the most important components of each app to help you decide which money tracking tool is best for you. I think it’s great that Personal Capital allows you to plan your retirement, but I like how easy Mint is to use and that it’s, for the most part, simple. 1. That’s actually a pretty common myth about credit scores – it doesn’t hurt if you pull your score and report (like seeing it through Mint), but you will get a small ding if a lender or credit card company does. I am glad you mentioned this. Personal Capital. Personal Capital and Mint are two of the most popular free options, but is one better than another for managing your money? 1. Being a user of both Mint and Personal Capital, I'm here to give a complete, detailed comparison review. I’d love to know what you think. For example, only Mint has a credit score monitor, while only Personal Capital has thorough investment planning. A higher score opens you up to better rates on a mortgage, student loan refinancing, and lets you take advantage of some of the best credit cards for travel hacking (if that’s your thing). Mint is mostly an aggregator and budgeting app, while Personal Capital is mainly … How to Start a Blog With Launch That Blog (Free Installation and Setup), 7 Easy Ways to Save Money On a Tight Budget, Ways to Save Money on Gifts for Family and Friends. These three financial management software programs have vastly different fee structures, but Mint is the easy one: it’s free! The one thing that I can’t believe PC has added is the ability to create custom tags. Okay, this is where Mint shines, not going to gloss over that at all. Data breaches are now part of our new normal, and part of using personal finance apps like Personal Capital and Mint means that you are probably ahead of most in catching any issues. How do the two programs compare as far as importing existing data from Quicken? A very close competitor is You Need a Budget, which is extremely powerful for changing your spending behavior. This allows me to categorize my expenditures and assure myself that I’ve accounted for all line items listed on the statement. Mainly because it categorizes transactions better. With its latest Retirement Planning feature, Personal Capital will help you determine how much you need to save for retirement within just a few seconds. I was just about to check out PC until I happened to find Tiller. But it’s quick attempt to find out everything about me before I could find anything about it was a put-off for me. Question for the experienced Mint users out there. Mint asks you to add your cell phone number to verify your account’s safety, but it isn’t required. I hope I can fix it. We LOVE Mint.com. I need to be able to categorize a vendor once and have it work for new payments to that vendor as they come in, as well as other old payments. Mint has worked really hard in the past couple of years to work out the kinks… we’ve got to get better at synchronization guys… and they’ve cleaned up that app a little bit. InvestorJunkie.com© Copyright 2020, All Rights Reserved | Personal Capital, of course, makes their money off of their paid advisor service. In my house, we use both Personal Capital and Mint. Thanks for that mention. Personal Capital, on the other hand, seems to miss many bills. Personal Capital pulls the due dates from your linked accounts to remind you, but you can’t add reminders for accounts you can’t link, like utilities. Mint is the clear winner in the budgeting category. That means that if you open a credit card with a recommended company, that company pays Mint. 2. After a few attempts and do-overs, I deleted my account. Back in the ’90s, I helped create some of the first financial websites for firms like Chase, T. Rowe Price, and ING Bank, and later went on to work for Nomura Securities. It does not allow you to adjust that value. Also, Personal Capital always incorrectly tags my transactions, ex credit card payments should be labeled “transfer” and not “expense”. Also, if you do have issues, Personal Capital appears to be more attentive to fix the issue than Mint. They will only call you if you are over 100k in net worth. I really want a financial planning tool at this point in my life for investment monitoring as opposed to my earlier life of expense monitoring and checkbook management through Quicken. Both Mint and Personal Capital have a feature to alert you on upcoming bills. And when I was writing this overview of Personal Capital vs. Mint, I ran into it again. I think that works in Mint but not PC. Since both services are free to use, it makes it much easier to compare. It’s nice to read the comparison between PC and Mint, and to read all the comments for additional perspective. However, it’s important to note that there are still some differences between Personal Capital and Mint. The point of money tracking apps is to make it easy to see everything in one place. You get notifications if you are close to overspending in an area. Absolutely true… there’s not many free lunches out there! Thanks for your comment. Postmates vs. Grubhub – Which is Better for Drivers? You can manage your finances, including your investments, without charge.Personal Capital does charge a fee if you want it to manage your investments. I personally do better managing short-term money goals and seeing that savings rack up over time, so I really do prefer Mint. Mint.com doesn't offer a retirement planning overview, projected portfolio value, or any other investment-related features. Depending on how you’re investing your money, you may run into fees that can wind up costing you thousands of dollars over the course of your retirement strategy. We will focus on the follo… For more information see our. Personal Capital users have not reported any issues reaching customer service or resolving issues. Personal Capital, on the other hand, does not offer a full-function budgeting tool. Sign Up to a Free Personal Capital accout, Net Worth Trackers: Apps & Tracking Services, Cashback Rewards: How to Earn Extra Money With Rewards Apps, The Comparison of Personal Capital vs. Mint. Jimbo, the security prompts have nothing to do with Mint OR Personal Capital but the security requirements by your bank. Agreed with your comment above, Bobby, that Mint is “messy.” I always had trouble with it connecting to certain accounts and felt like there was too much information that was just “noise.” This was a few years back, though, so perhaps the system has gotten better. I will continue to smoke test…. I want to use mint but it seems like its not very functional. I tend to ignore the spending because I know it’s inaccurate (it qualifies my savings deposits as income, rather than transfers unless I tell it otherwise) but I love the charts. Personal Capital's and Mint's apps allows for fingerprint login on iOS devices that support it. You just click the + sign at the top left-hand side of your dashboard and link what you need to. You can add real estate, cars, boats, jewelry, etc. 2. Only downside I’ve had so far is from linking my lease whip to it (ya ya ik you hate them but I got a great deal 😉 ). I have a hard enough time keeping things organized as it is haha! But your reporting of non-support doesn’t match my one day of experience using Mint. My issues with PC are that it can’t integrate popular free services such as Robinhood. DoorDash vs Grubhub – Which Is the Best for Drivers? However, Personal Capital isn't as good in budgeting and bill pay, while Mint excels in this functionality. Getting used to Mint and PC since Quicken was sold and I upgraded from 2015 to 2017 We have a credit union that is a little tough to connect to both tools, but I think that is more of a product of the credit union having old technology than it is PC or Mint not working. Much like Personal Capital, Mint is an aggregator for your entire financial life. Maybe someday I’ll graduate to using a more holistic tool like PC, but for now I like to keep my savings out of sight and out of mind on a day to day basis so I’m not tempted to slack off on my savings 🙂. Receipts if I don ’ t had a good solution for a free portfolio review and real.! And link what you find when visiting a third-party website we already have our stuff on a budget sheets then. ( PC ) worthless for budgeting, spending, but the security prompts nothing. This information with limited budgeting or billing capacity, while Mint.com is a real concern attempts do-overs. 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