Intuit Inc. introduced this week that it’s going to shut down Mint on Jan. 1, 2024. The corporate’s determination to discontinue the favored budgeting app might go away tens of millions of customers scrambling to discover a alternative.
Right here’s what the information means for shoppers and what to contemplate when selecting a brand new budgeting service.
Mint, acquired by Intuit in 2009, is a free private finance app. It has lengthy been one of the crucial broadly used and extremely rated price range apps. Mint hyperlinks to almost all sorts of customers’ monetary accounts, resembling bank cards, investments and loans.
Mint’s loyal following has gravitated towards its complete options, together with the flexibility to evaluate spending, observe internet value and personalize objectives and budgeting classes.
What’s occurring to Mint?
In its announcement on Tuesday, Intuit stated the corporate is “reimagining Mint” as part of Credit score Karma, additionally owned by Intuit. Customers will now not have entry to their Mint accounts on Jan. 1, 2024, or sooner in the event that they select emigrate to the Credit score Karma app earlier than that date.
Whereas a number of Mint options will reside on within the Credit score Karma app (resembling spending and internet value monitoring), setting month-to-month budgets and customised classes will not make the minimize. It’s unclear whether or not these capabilities may transfer over ultimately.
How one can put together for the top of Mint
The excellent news is that Mint isn’t shutting down in a single day. The corporate is giving Mint customers “ample time” to plan for the change, an Intuit Credit score Karma spokesperson stated in an announcement.
Those that depend on the app could have two months to assemble their monetary data from Mint and seek for another budgeting software. Nonetheless, this window could not really feel lengthy sufficient for some customers. Listed below are steps you possibly can take to make the change much less painful.
First, take inventory of any saved data you don’t wish to lose. You possibly can obtain your current Mint transaction information as an Excel spreadsheet by following the instructions on Mint’s help center page. Taking screenshots of useful charts or insights is another choice.
Then, make a listing of the Mint options you used most frequently or that had been most useful to you. Discuss with this checklist when exploring what alternative apps have to supply.
What to search for in a brand new budgeting app
There are many 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 FinanceGrabber, supply free cash administration instruments.
PocketGuard is a free service that highlights your spending and internet value and lets you price range for objectives. YNAB is a well-liked app that additionally lets customers create custom-made plans for his or her cash, nevertheless it has a subscription price.
Mint customers don’t essentially have to start out from scratch. Some apps, like Monarch and YNAB, enable new customers to manually import information information from their banks or different private finance apps. Like Mint, there are numerous different apps that robotically sync with customers’ monetary accounts. Some could even pull a number of years of your transaction historical past, which could be very best in case you don’t get an opportunity to avoid wasting your Mint information earlier than it vanishes.
Earlier than committing to a paid price range service, reap the benefits of free trial intervals — if provided — to study whether or not it’s definitely worth the cash. And earlier than signing up for any budgeting service, learn evaluations in app shops and on trusted monetary web sites.
An app’s neighborhood and customer support (or lack thereof) could also be value taking note of as nicely. Mint’s giant consumer viewers and buyer help made it simpler for a lot of to study and troubleshoot.