By Lauren Schwahn | NerdWallet
Intuit Inc. introduced this week that it’s going to shut down Mint on Jan. 1, 2024. The firm’s choice to discontinue the favored budgeting app may depart tens of millions of customers scrambling to discover a substitute.
Here’s what the information means for customers and what to contemplate when selecting a brand new budgeting service.
What is Mint?
Mint, acquired by Intuit in 2009, is a free private finance app. It has lengthy been one of the vital extensively used and extremely rated price range apps. Mint hyperlinks to almost all sorts of customers’ monetary accounts, similar to bank cards, investments and loans.
Mint’s loyal following has gravitated towards its complete options, together with the power to evaluate spending, monitor internet value and personalize targets and budgeting classes.
What’s taking place to Mint?
In its announcement on Tuesday, Intuit stated the corporate is “reimagining Mint” as part of Credit Karma, additionally owned by Intuit. Users will not have entry to their Mint accounts on Jan. 1, 2024, or sooner in the event that they select emigrate to the Credit Karma app earlier than that date.
While a number of Mint options will stay on within the Credit Karma app (similar to spending and internet value monitoring), setting month-to-month budgets and customised classes gained’t make the minimize. It’s unclear whether or not these capabilities may transfer over ultimately.
How you’ll be able to put together for the tip of Mint
The excellent news is that Mint isn’t shutting down in a single day. The firm is giving Mint customers “ample time” to plan for the change, an Intuit Credit Karma spokesperson stated in a press release.
Those who depend on the app may have two months to assemble their monetary info from Mint and seek for another budgeting device. Still, this window could not really feel lengthy sufficient for some customers. Here are steps you’ll be able to take to make the change much less painful.
First, take inventory of any saved info you don’t wish to lose. You can obtain your present Mint transaction knowledge as an Excel spreadsheet by following the directions on Mint’s assist heart web page. Taking screenshots of useful charts or insights is an alternative choice.
Then, make a listing of the Mint options you used most frequently or that had been most useful to you. Refer to this listing when exploring what substitute apps have to supply.
What to search for in a brand new budgeting app
There are loads of different price range apps on the market that may assist fill the void as soon as Mint shuts down. Many private finance web sites, together with NerdWallet, supply free cash administration instruments.
PocketGuard is a free service that highlights your spending and internet value and means that you can price range for targets. YNAB is a well-liked app that additionally lets customers create personalized plans for his or her cash, but it surely has a subscription price.
Mint customers don’t essentially have to start out from scratch. Some apps, like Monarch and YNAB, permit new customers to manually import knowledge recordsdata from their banks or different private finance apps. Like Mint, there are various different apps that mechanically sync with customers’ monetary accounts. Some could even pull a number of years of your transaction historical past, which could be perfect in case you don’t get an opportunity to avoid wasting your Mint knowledge earlier than it vanishes.
Before committing to a paid price range service, benefit from free trial durations — if supplied — to be taught whether or not it’s definitely worth the cash. And earlier than signing up for any budgeting service, learn opinions in app shops and on trusted monetary web sites.
An app’s group and customer support (or lack thereof) could also be value taking note of as effectively. Mint’s massive consumer viewers and buyer assist made it simpler for a lot of to be taught and troubleshoot.