Finding a New Home for Your Finances After Mint
As a former Mint user, the search for a new budgeting app became a necessity when Intuit shut down the service in early 2024. Their suggestion to transition to Credit Karma fell short for many, including myself, as it proved to be a poor replacement. This launched a journey to find a new app capable of tracking all financial accounts, monitoring credit scores, following a monthly spending plan, and setting financial goals. After testing the top competitors, a clear winner emerged to handle these needs.
The process of selecting and testing these apps was thorough. Research involved consulting online reviews, Reddit threads, and recommendations from colleagues. The key criteria for any contender was the ability to import account data from various institutions, provide robust budgeting tools, track spending and net worth, and offer credit score monitoring. Most apps operate on a subscription model, typically around $100 per year, though one standout option is more affordable.
A critical component of all these services is the underlying technology that connects them to your bank. Nearly every app uses a service called Plaid to securely pull in financial data. Plaid acts as a secure passthrough for your account information, working with over 12,000 financial institutions. While it uses encryption and states it does not sell user data, it is worth noting the company settled a class-action lawsuit in 2022 over its data collection practices, leading to changes in its business operations.
After extensive testing, which involved the repetitive but necessary task of connecting every financial account to each app with two-factor authentication, a few top choices became apparent. These apps successfully consolidated all financial information into a single, easy-to-understand dashboard, providing a clear picture of one’s financial health.
While apps like PocketGuard were considered, its shift away from a permanent free tier diminished its value. Its interface, though functional, lacks the polish of other options and its web version feels like a scaled-up mobile app without utilizing the extra space effectively.
The shutdown of Mint left a significant gap in the market, and Intuit’s lack of a clear explanation for discontinuing the popular service only added to user frustration. Their attempt to migrate users to Credit Karma was insufficient for those who relied on Mint’s specific set of tools. This created an opportunity for other developers to step up and provide a true alternative.
The search for a Mint replacement is ultimately about finding a digital financial home that feels secure, comprehensive, and easy to use. The goal is to find an app that not only tracks where your money has been but also helps you plan for where you want it to go, whether that’s building an emergency fund, paying down a mortgage, or simply sticking to a monthly budget. Through careful testing, several apps have proven they can meet this challenge.
