For years, Mint has been one of the most widely used free budgeting tools in the United States, with a reported user base of 20 million people at its peak in 2016. When Intuit announced the end of the app in late 2023, millions of users at the time were looking for another place to help manage their personal finances.
For many users, the transition was not easy. Mint more or less automatically performed multiple jobs at once, including tracking spending, budgeting, monitoring bills, and getting credit scores. And users could do these things for free. Even today, few single apps are as complete as Mint.
In this guide, we’ll explain what happened to Mint, where its former users went, and how to choose an alternative service that best fits your budget and tracking needs.
What happened to mint?
Mint became available in 2006 and achieved early success in 2007.
Sebastian Fidilio, founder and CEO of sebCFO, said, “Mint originally became widely used because it solved a simple but vexing problem. People wanted a unified view of their finances without having to manually create spreadsheets. The product was free, easy to use, and helped users identify spending trends and insights.”
Budgeting apps have brought something new to users. Manage your entire budget in one place for free by simplifying it with automation and connected accounts. Rather than relying on customer membership fees, it generated revenue from referral fees, data sales, and targeted advertising.
Intuit acquired the app in 2009 and it grew in popularity. However, due to changes in Intuit’s product lineup and the industry itself, the company has announced that it will be retiring the app in early 2024. On March 23 of that year, approximately 3.6 million current Mint users were forced to find an alternative app.
Where Mint users should go: Credit Karma
When Intuit shut down Mint, the company directed users to Credit Karma. Credit Karma is another platform owned by Intuit that primarily focuses on credit monitoring and financial product recommendations. Credit Karma allows users to view their credit score, monitor linked accounts, and receive personalized offers on loans, credit cards, and refinance products. The move will allow users to integrate their Credit Karma accounts with the company’s other products, such as TurboTax.
However, for many Mint users, this migration did not meet their needs. Credit Karma offered account tracking and credit tools, but it lacked many of the budgeting features that made Mint popular, such as customizable spending categories, budget goals, and planning tools. Many users who rely on Mint to proactively manage their budgets found Credit Karma lacking because it focuses more on financial monitoring than day-to-day budgeting.
As a result, not all Mint users followed Intuit’s plan to simply switch to Credit Karma. Instead, we spread it across different types of platforms depending on how we’ve used Mint in the past. They moved to a combination of paid budgeting apps, free tracking tools, niche budgeting systems, and even manual spreadsheets.
Where Mint users actually go
Former Mint users did not migrate to a single alternative app after the shutdown. Instead, they split into several different groups.
1. Paid Mint Replacement
Many former Mint users chose existing paid budgeting apps to get as close to Mint’s all-in-one experience as possible. Their chosen platforms include:
These apps are similar to Mint, but with important tradeoffs. First, users now have to pay a subscription fee, often around $99 per year. Second, while many of these tools were more sophisticated than Mint, they were different and required a change in habits to maintain them successfully.
2. Free budgeting and tracking app
Other Mint users opted for free tracking apps like Rocket Money and Empower. These platforms replicate some of Mint’s functionality by allowing users to link accounts, monitor spending, and track recurring charges without subscription fees.
However, most of these free options focus more on tracking than detailed budgeting. Rocket Money focuses on subscriptions and bill management, while Empower focuses more on investments and asset tracking.
Most free household finance apps lack some features, but many also offer paid versions that offer expanded financial tools.
3. Simpler or niche tools
Still, other former Mint users, especially those who never used the app to its full potential, opted for simpler apps that suited their particular budgeting styles. Goodbudget focuses on the envelope budgeting method, while PocketGuard helps users understand how much money is safe to spend after taking into account bills and savings goals.
These niche tools typically have fewer automation features and integrations with financial institutions than more powerful budgeting platforms. However, many people found that its relative simplicity suited their needs perfectly, and in some cases even better. Many of these apps offer both free and paid versions depending on their functionality.
4. Spreadsheet and manual budgeting users
Concerns about privacy, subscription fatigue, and sharing sensitive data have led some former Mint users to abandon the budgeting app altogether and return to or begin using spreadsheets, paper tracking systems, and manual budgeting methods.
Operating a manual budgeting system rather than an automated one reduces risk and is appealing to some people. Some simply chose to take more direct control of their finances after the shutdown made it clear that relying on a single app could have undesirable consequences.
Why there is no true “mint substitute”
Mint stood out because it combines several financial tools into one free platform, including:
- Track spending and transactions
- budgeting tools
- savings goal
- Bill monitoring
- Credit score tracking and alerts
Most modern budgeting apps specialize in one area rather than trying to do everything at once. Monarch Money focuses on household budgeting and planning, while Rocket Money focuses on subscription tracking and bill management. Credit Karma primarily focuses on credit monitoring and financial product recommendations, with only some budgeting features.
As a result, there is no one-to-one successor to Mint. Former users now have to choose a budgeting app based on the features they need and use most, such as spending tracking, bill payments, and credit monitoring.
Pros and cons of current mint alternatives
Alternatives to the Mint app usually offer more specialized tools and a different user experience. It also involves some trade-offs. Instead of getting everything they need in one free platform, users of budgeting apps have to choose between cost, convenience, privacy, and the features they want.
Strong Points
- Newer budgeting apps tend to have more advanced budgeting and financial planning tools.
- Modern app interfaces are often cleaner and more user-friendly.
- Some offer specialized features such as subscription tracking and investment monitoring.
- With more and different options, users can find tools that better suit their budgeting habits.
Cons
- Many of the major apps require monthly or annual subscription fees.
- Free apps tend to rely on advertising, upsells, and affiliate partnerships.
- To enjoy the best features of the free app, you should opt for the paid subscription version.
- Manual spreadsheets provide more privacy, but require significantly more work.
How to choose where to go next
I’m out of mint. However, the budgeting challenges that made the app popular still exist. Whether you want to start budgeting, track your spending, or better manage your overall household finances, modern apps offer more specialized options depending on your goals and habits. learn How to choose a household account book app We’ll help you identify the best choice before you sign up.
Elias Friedman, CFP, Founder and Senior Wealth Advisor at Kadima Wealth, says, “In my opinion, a potential replacement app is not the one with the best features; it’s the one that clients actually use consistently…A good budgeting tool should reduce stress, increase awareness, and make it easier to build better habits over time, not overwhelm users with data that will be ignored after two weeks.”
Users who primarily want to monitor spending and account activity may find that free tools like Rocket Money and Empower provide sufficient functionality. Those who want to focus on budgeting, setting savings goals, and managing long-term financial plans may prefer paid platforms like Monarch Money, Quicken Simplifi, and Origin. On the other hand, users who primarily focus on credit monitoring may still find value in Credit Karma, even if its features differ from the old Mint.
conclusion
Mint’s closure was frustrating for many people who had relied on the app for years to do budgeting and other functions in one place. But the shutdown also presented an opportunity for some businesses to find a solution that better suited their budgeting needs and priorities.
Today’s budgeting apps offer a wide range of features and approaches, or specialized versions to meet specific user needs. Many former users have found that rather than looking for the perfect Mint replacement, choosing a tool that aligns with how they manage their money is a better long-term fit.
FAQ
What could have been in place of mint?
Once the app exited, Intuit directed Mint users to Credit Karma and expected them to comply. However, most users decided that Credit Karma didn’t offer what they needed, and those who needed budgeting functionality moved to apps like Monarch Money, Quicken Simplifi, Origin, Rocket Money, and YNAB depending on their needs.
Are there free alternatives to Mint?
Rocket Money and Empower offer free apps that can mimic or match many of Mint’s tracking features. However, only paid versions of such apps tend to offer deeper planning features and functionality. Credit Karma is free for credit monitoring, but lacks true budgeting tools.
What is the closest app to Mint?
Quicken Simplifi and Monarch Money are often cited as the closest functional alternatives to Mint. Both offer many of the same ideas, including linked accounts, customizable categories, budgets, and goal tracking. However, most of these features require you to sign up for a paid subscription service.
Why did Mint close?
Mint shut down after Intuit decided to consolidate its personal finance products into Credit Karma. Mint’s free app business model, which relied heavily on advertising and referral fees, became economically unviable as the industry changed, so Intuit shifted resources to Credit Karma instead.
Would a mint alternative be better?
Budgeting app technology and tools continue to evolve. Newer apps typically have better budgeting features, a cleaner user interface, and stronger customer support. However, in return, most companies charge a subscription fee, and Mint did not.
