Disclosure: This post contains affiliate links, which means I earn a commission at no expense to you. Affiliate links are marked with the asterisks (*)
Intuit made a surprise decision in the budgeting niche. With Mint shutting down, what can people use instead?
If you’re like me, you use an app for your budgeting purposes*. I’ve used Mint for the longest time. It helps me track my expenditure across multiple accounts, making it much easier to not just set but stick to savings goals.
Intuit, which owns Mint, made the decision to shut down the app. As of Jan. 1, 2024, the app will no longer be available. That’s right, Mint is definitely shutting down. This isn’t some scaremongering news.
Why is Mint shutting down?
Intuit says that it is consolidating some of its apps and programs. It is focusing on Credit Karma. While this is great for some things, Credit Karma doesn’t help with budgeting*. It leaves a lot of questions about what to turn to instead.
I have used spreadsheets in the past. I haven’t used this method in a long time thanks to the apps, but I may go back to it. There are other apps out there, though. So, if you want to replace one app for another, there are options available.
What to use instead of Mint
In Canada, Monarch Money is an app that’s coming out. This is an app very much like Mint, focusing on consolidating your accounts into one place so you can track where your money is coming from and going on a monthly basis. You can still set up savings goals and targets, and there’s the ability to see how close you are to those targets.
Monarch is also available in the United States. There are many other options too. You can opt for NerdWallet, Rocket Money, and even YNAB.
In fact, America has so many options that it’s why Mint shutting down wasn’t that much of a problem. Most people quickly found another app to use. In Canada, Mint was the no. 1 option. It’s why Monarch Money is looking to take over as the no. 1 app for budgeting.
Monarch isn’t a fully free app though in the way that Mint was. Plus, billing is only in USD and you can only pay for it via a credit card. That’s not too great for those trying to get away from credit cards for their budgeting needs!
Your best free option is to create a spreadsheet. This doesn’t have to be tricky. In fact, Microsoft Excel has some great templates to get you started. You can also buy planners specifically for budgeting* your money. While these physical options don’t automatically track your money, they are a little more secure and they make things free once you have the initial physical planner. They’re not going anywhere unlike some of the apps out there.
MORE: My No. 1 tip for sticking to a budget
What do you use for budgeting purposes? Is Mint shutting down causing a problem for you? Share your thoughts in the comments below.
