When it comes to money management, there are a variety of personal financial tools available that may help you keep track of your costs, create a budget, and monitor your investments all in one spot. A lot of people are dealing with the same issue: Quicken vs. Mint: Which Is Better?
I understand. Choosing personal finance software or an app isn’t the most thrilling experience. Finding a program or app that works for you, on the other hand, can transform the way you think about money.
Furthermore, one of these apps or software will assist you to understand your finances from top to bottom.
And once you understand our spending habits, you’ll be able to make significant progress toward our financial goals!
Read this review to find out the difference between Quicken vs. Mint and which one is worth your time. Hopefully, this will help you decide which financial tool is best for you.
What is Mint?
Mint debuted in 2006 and instantly earned the moniker “Quicken killer.” For years, it has been the most popular personal finance app.
This means they’ve had plenty of time to figure out what their customers want.
Users can connect all of their accounts in one spot with this free app and website.
Mint connects to nearly every bank in the United States, allowing you to see virtually any account you have with a single click.
Furthermore, Mint syncs with your accounts automatically, giving you a complete view of how much money you have in all of your accounts at once.
So, because Mint is free, you can expect to see advertisements on the app and on the website. They also profit when a user enrolls in a sponsored service, such as a credit card or a bank account.
What Is Quicken?
Quicken is the grandfather of personal finance software, having been created by Intuit in 1983. It enables users to merge all of their finances in one location and accomplish chores that were previously completed on paper more rapidly.
Quicken is a desktop application that requires a subscription. Budgeting, bill pay, an investment tracker, and property and business accounting tools are among the many financial tools available.
You’ll need to download Quicken to your computer because it’s a software program. It will also need to be updated regularly. Quicken has an internet component that makes it mobile-friendly.
Features: Mint vs Quicken Review
Since we have known a little about Mint and Quicken. let’s take a quick look at the features and differences between Mint and Quicken.
Quicken includes a lot of features that can help you arrange your personal finances. They have so many alternatives, in fact, that it may be a little daunting.
The good news is that you don’t have to use everything Quicken has to offer. You’ll have a decent handle on your money and where it’s going, even if you only use half of what this software has to offer. It’s time to see if Quicken is really worth it!
Quicken allows you to:
- Keep track of your income and expenses. Quicken’s most popular feature is without a doubt this. Quicken will automatically categorize your expenses so you can see how much money you’re spending on each category in your budget. All you have to do is set up your categories ahead of time, and Quicken will take care of the rest!
- Keep a manual record of your costs. You are under no obligation to connect your account to Quicken. Alternatively, you can enter your transactions manually into the application.
- Make a financial plan. Set a yearlong budget with ease and measure your success month by month. If you want Quicken to effortlessly add your costs to your budget, this is the way to go.
- Manage and view your bills. You’ll never forget another bill again! Receive notifications and see your bills before they’re due.
- Keep tabs on your investments. Quicken is a program that helps you to keep track of all of your investments in one spot. Quicken will allow you to review your portfolio and keep track of your investments.
Over 20 million people use Mint to better understand their finances. Mint has more limits than Quicken because it is free. You can’t, for example, export a CSV file of your transactions and import it into Excel.
It also doesn’t have a running registry because it relies on banks to settle any outstanding costs. As a result, you won’t have a complete picture of your finances.
Mint allows you to:
- Keep track of your earnings and expenses. Mint will connect to your account immediately and keep track of your spending. It will also categorize your expenditures for you, but it isn’t a flawless science. It’s likely that you’ll have to alter some of your spending categories manually.
- Keep track of your monthly expenses. You can see all of your monthly bills in one spot with Mint. Let’s hope you don’t have to pay another late fee!
- Make a financial plan. Furthermore, Mint will tell you how much you spend on average in many categories. This makes budgeting and writing a budget a little less difficult.
- Be aware of your credit score. You can check your credit score for free on Mint. They’ll also provide you with a free credit report so you can see your score in detail.
Differences: Mint vs Quicken Review
Here are the differences between Mint and Quicken
- Cost: Free
- Platform: Online web- and app-based platform
- Special Features: View net worth, track progress toward goals, customized alerts, free credit monitoring
- Cost: Subscription-based ($35.99–$103.99/year)
- Platform: Desktop program that can be used offline
- Special Features: Bill pay, retirement planner, tax planner, accounting and property management, create tax reports, export into TurboTax
Similarities: Mint vs Quicken
- Link all external accounts
- View balances on accounts and overall net worth
- Track income and expenses by category
- Manually add transactions
- Debt payoff tool
- Bill reminders
- Track investments across all accounts
Note: Mint offers all features for free, while you have to pay a subscription fee for Quicken.
Budgeting: Mint vs. Quicken
You have the option of generating a 1-month or 12-month budget in Quicken (or both!).
Your recurring income and expenses will be automatically added to your 12-month budget. This means you’ll be doing less work.
The good news is that you can always update or adjust your budget. This is essential because we all know that your budget will most likely not go as planned. And that’s fine! Quicken makes it simple to make budget changes on the fly.
Mint will actually propose a budget for you to follow at first. They’ll take an average of how much you spend in each category and give you a rough estimate of how much you should budget.
Then, if necessary, you can adjust your budget to meet your personal requirements.
Investments: Mint vs. Quicken
Quicken: You can effortlessly connect and monitor all of your investment accounts in one spot with Quicken Premiere. You’ll also be able to quickly assess your investments and compare your results to market averages.
Mint: You’ll be able to see all of your investment accounts in one place inside Mint. This makes it simple to keep track of your money.
Customer Support: Quicken vs. Mint
Mint: Mint doesn’t have a phone number or an email address. They attempt to compensate by providing a very simple program, but you’re out of luck if you have a quick inquiry.
They currently limit their support to:
- Online Help Center
- Online Chat (from 5AM to 9PM PT, 7 days per week)
Quicken: Quicken has a significantly better track record when it comes to customer service. You can dial the number and speak with a live person.
Furthermore, you will most likely not have to wait long to speak with someone. Premium Support is also available to Quicken Premier subscribers.
Quicken’s support includes:
- Phone support: 650-250-1900 (5AM to 5PM PT, Monday – Friday)
- Online Support Center
- Online Chat
- Community Help
Mint Pros & Cons
To sum the review up, let’s go over the pros and cons for a final comparison.
- Tools are completely free
- Automatically updates accounts in real-time
- Create custom budgets and track spending
- View net worth on your dashboard
- Free credit monitoring
- Custom alerts
- User-friendly interface and mobile app
- Weak investment tracking tool
- There is no retirement planning.
- No more online bills pay through Mint
- No tax reporting
You can choose mint if you want mobile access, prefer cloud-backed programs, are okay working with more basic features, and want something that’s free.
Quicken Pros & Cons
- The most comprehensive set of financial tools
- Reconcile accounts
- Robust investment tracking
- Robust retirement planning
- Online bill pay
- Small business and property management
- Import directly into TurboTax
- Costs $35.99–$103.99/year
- Some features not available for Mac
You also choose if you are a Windows user, prefer a desktop program, and will pay for advanced features.
Mint vs Quicken Review: Which Is Worth Your Time?
Mint’s free tools will suffice for day-to-day money management for the ordinary user. Mint is an excellent tool for tracking your costs, invoices, and savings objectives.
Mint, on the other hand, falls short if you’re serious about investment tracking and retirement planning.
Quicken does, without a doubt, provide more extensive and comprehensive tools. If you want to track your investments and retirement, it’s the clear winner.
It’s also better for small business owners, people who own numerous properties, and those who have more complicated financial situations.
Conclusion: Mint vs Quicken
The idea is to find a strategy that works for you and is worth your time, so whether you use Quicken or Mint to track your finances.
You should be proud if you can find something to assist you to regain control of your finances and becoming more aware of your expenditures.
In addition, I hope that this post has provided you with additional information regarding Quicken and Mint.
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