Intuit’s popular personal finance app Mint is shutting down by the end of 2023. One of the few free budgeting apps available, Intuit is transitioning Mint users to Credit Karma where you can still track your credit score and net worth, but you can no longer create custom budgets. Let’s talk alternatives!
1. Credit Karma
As the parent company of Turbo Tax, Mint, Credit Karma, Mail Chimp, and Quickbooks, Intuit recognized that Mint and Credit Karma were similar enough to eliminate one of the platforms. Current Mint users are being offered to transition to the Credit Karma app, which will bring over 3 years of Mint historical data. The bad – You will use your budgets. Credit Karma will retain Mint’s ability to track your net worth and credit score, but you can no longer create customized budgets. However you can still export data into excel and separate categories into a pivot table. Unfortunately with Mint going away by the end of 2023, I had to remove Mint from my Recommendations Page.
2. NerdWallet
NerdWallet is not only a personal finance app, but is also a personal finance blog. It allows you to do everything Credit Karma does. In terms of budgeting, NerdWallet helps track your budget using the 50/30/20 rule where you should spend less than 50% on needs, 30% on wants, and 20% on savings. NerdWallet will automatically categorize your transactions and illustrate how you are tracking to the 50/30/20 rule. Unfortunately you cannot customize your budget or the rule.
3. Use Spreadsheets
Visit my shop to purchase and download one of my envelope budgeting spreadsheets and net worth tracking spreadsheets. For most people, data and privacy is important to them. There is no need to link sensitive information to apps or websites with the use of spreadsheets.
4. GoodBudget
If your financials are simple, you can use GoodBudget for free. GoodBudget follows the envelope budgeting method, which I believe is the most effective way to budget. The downside to GoodBudget is that it takes time to setup and involves lots of manual work. Something I have learned after using this app for a few months. If you have more than a few accounts that you want to track, you will have to opt for the paid version of the app.
5. EveryDollar
EveryDollar is another envelope budgeting tool developed by Ramsey Solutions of Dave Ramsey, the personal finance guru. While it is free to sign up, this app also require more manual work than expected along with a paid version of you want to regularly use the app. At the time of this post, this app is not doing too well in the app store, with a 2.8 out of 5 star rating.
6. Other Great Apps that are NOT Free
YNAB and Monarch are other popular personal finance apps, but they will cost you. Most people do not think it is worth the cost when there are free ways to budget and track your net worth or credit score.
What am I using?
Personally, I have used all of these apps at one time. Mint was my go to for everyday tracking. I exported the data from Mint on a monthly basis and entered that data in My Envelope Budgeting Spreadsheet. I enjoyed spending the 20 minutes a month to track my finances in this way. When I found out Mint was going away, I tried GoodBudget and NerdWallet. I enjoyed the usability factor that comes with NerdWallet and I like to see how I am tracking against NerdWallets 50/30/20 budget. For now I will continue using the combination of NerdWallet and my Envelope Budgeting Spreadsheet. This does not mean I won’t use Credit Karma. I am going to wait until January 2024 to see the new changes in Credit Karma. Subscribe below to stay tuned on my follow up post on Credit Karma.
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