Home Expenses Software – YNAB vs Mint.com
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The following pros and cons for YNAB vs Mint.com are my own personal opinions and not a general consensus. I use both applications…YNAB is by far the superior for budgeting and forecasting and it has changed my life financially. Mint.com can’t be beat for tracking transactions on a broad scale across all accounts.
You Need a Budget Software at a Glance
YNAB (why-nab) or You Need a Budget is an expenses software program gaining in popularity because of its simplicity and ability to help people manage money intelligently.The main feature of the program is the forecasting layout that allows you to see expenses several months out at a glance which is crucial for effective financial planning.
Pros
- Desktop software, no need to go online
- Simple design with effective task flow
- Ability to save money by forecasting
Cons
- No ability to track a debt snowball
- No ability to download transactions directly from financial institutions
The Good and Not so Good of Mint.com
Mint.com is a free online expenses software application owned and operated by Intuit, makers of Quicken and Turbo Tax. It has just about everything you need to track your financial transactions in real time with bank level security. Once everything is set up, you have access to all your accounts in one place which includes your banks, credit cards, loans and assets.
Pros
- Multiple options to view and work with account transactions
- Account transactions can be updated in real time with a click of a button
- Has the ability to set and track financial goals
Cons
- Design is slick, but it’s too busy which adds to confusion.
- Application tries to be too ‘smart’ with annoying or irrelevant suggestions
Which is Better?
Personally, I use both. YNAB is perfect for everyday budgeting and Mint is great to check in once a month or so to observe overall balances and reset goals if needed. The two applications make a good team for maintaining financial control.
Click here for a free 34 day trial of YNAB
Related Articles of Interest
- Review on YNAB Home Expenses Software
A more in-depth review of this excellent personal expenses software. - The Debt Reduction State of Mind
Budgeting and debt reduction go hand in hand, but it will only be successful if you are mentally committed. - How Your Credit Score Range Effects You Financially
What range does your credit score fall under? Lenders, Employers and Landlords make decisions based on this range.
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Mint is second best :-)Thanks for stopping by!
I just tried YNAB for the 1st time today. I find Mint too confusing especially if I want to see what I've spent for this month or last month, but what I've seen so far of YNAB with the budget page clearly showing me where I am spending, I think I will be switching to YNAB
Thanks for stopping by Adrianna. Yes - YNAB really helps to keep your eye on the bigger picture.
Used Dave Ramsey's budgeting software on his website for a year, found this to be a nice transition from and refinement of the Zero Balance budgeting concept (every dollar of income gets a 'job' or is allocated).
I just wish it would sync to its mobile app using a cloud instead of requiring the app user to authenticate with the program over a wireless network.
Dave Ramsey's online budgeting software is great too. I used it for about 6 months, but found I preferred the desktop version of YNAB.
I agree the cloud option would be nice, perhaps in the near future? Thanks for stopping by Bill!
Mint is definitely a better product for me. I mainly need it for goal setting with real time tracking as well as being able to see my whole financial picture in one place. Checking, Savings, Investment, Loans, 401(k) and IRA all on my phone or any computer. My favorite part is once it is set up, it updates on its own. YNAB is probably better for more complicated financial situations, and people who want to spend the time manually entering their budgeting information. Both are great products in my opinion, but serve different purposes.
Thanks for the comment AJ! It's good to hear other opinions from real users.
thewahwife 14 months ago
I recently started using mint, and I absolutely love it! I hadn't heard of YNAB, I will need to check that one out.