Author Topic: What should I use: Mint, YNAB, Personal Capital, ?  (Read 1874 times)

HalfDollar

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What should I use: Mint, YNAB, Personal Capital, ?
« on: February 21, 2022, 09:07:50 AM »
I think I want an accounting system with little manual work. (I'm ok with having to enter a few 2FA codes.)

Mint can show cc transactions. Can the others?

Are there any privacy issues with these sites?

What factors do you think are the biggest reasons to go with one over the other?

MDM

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #1 on: February 21, 2022, 12:55:29 PM »
What factors do you think are the biggest reasons to go with one over the other?
It's often a matter of personal taste and familiarity.

To borrow a phrase, it has been said that Quicken is the worst such software except for all those others, so...?

Askel

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #2 on: February 21, 2022, 01:18:37 PM »
Mint is good for tracking spending and that's about it.   

It's pretty garbage for financial planning. i.e. accounting for mortgage payments and breaking out escrow, PMI, and interest like I could in Quicken is a nightmare in Mint. 

Mint is also having a little trouble with companies that have added two factor authentication to their sites as well.   

I tried Personal Capital and it seemed much better, but deleted it instantly after some "investment advisor" of theirs started cold calling me.   

I've gone back to tracking things on my own in spreadsheets.   


Uturn

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #3 on: February 22, 2022, 06:36:59 AM »
It depends on what you need it to do. I use PC because it does a good job at categorizing my CC expenses.  I don't budget and am more concerned about what I spent vs what I am going to spend in each category.  Yes, their advisors are going to try to schedule a meeting a couple of times per year, but I don't feel that they unrealistically hound me about it.   

goodmoneygoodlife

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #4 on: April 30, 2022, 02:56:14 PM »
I like using Mint because its UI is best for me (I just want to look at my NW and don't really micromanage my spending--just knowing the overarching trends is enough). It also has better and more stable connections to my banks than Personal Capital in my experience.

I haven't tried YNAB since I've heard it isn't free.

Malossi792

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #5 on: May 01, 2022, 05:57:00 AM »
Excel.
Just like with calories, money in, money out, done.
I don't believe in micro managing if the big picture is working correctly.

Coleman50000

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #6 on: July 21, 2022, 11:41:14 AM »
I've used them all, and I fell in love with YNAB.  I wholeheartedly recommend you try it out.

It has a really slick app that does pull in transactions automatically, and there is a lot of automation to help make certain parts easier.  But the real value comes from the idea of giving every dollar a job.  When you make money, you assign those dollars to the categories, which is a good way to express & refine your values & relationship with money as you evolve.  5 times more useful if you share finances with someone because it provides a good forum to discuss priorities around where money is spent.  If that sounds interesting, then go for it.  However, if you're just looking to track spending then just use Mint.

You get what you pay for!  Hope this helps.

midweststache

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #7 on: July 21, 2022, 12:08:01 PM »
I've used them all, and I fell in love with YNAB.  I wholeheartedly recommend you try it out.

It has a really slick app that does pull in transactions automatically, and there is a lot of automation to help make certain parts easier.  But the real value comes from the idea of giving every dollar a job.  When you make money, you assign those dollars to the categories, which is a good way to express & refine your values & relationship with money as you evolve.  5 times more useful if you share finances with someone because it provides a good forum to discuss priorities around where money is spent.  If that sounds interesting, then go for it.  However, if you're just looking to track spending then just use Mint.

You get what you pay for!  Hope this helps.

Another fan of YNAB. I've been using it since it was a desktop application - I have feelings about this new annual subscription model - but I also really appreciate the automated functionality of it. I don't actually link my accounts to credit cards, bank accounts, etc. (though it has that functionality), not because of access issues but because when I manually put in income and expenses it forces me to engage with my finances in a different way - I'm an active participant in my budget, not passively processing numbers. YMMV here.

I credit two things to the incredible (positive) changes in our financial situation over the past decade: 1) YNAB and 2) years of intermittently creeping on these MMM forums.

BlueHouse

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #8 on: July 26, 2022, 12:48:53 PM »

To borrow a phrase, it has been said that Quicken is the worst such software except for all those others, so...?

I have used and loved Quicken for decades.  But it's very possible that my imagination is limited and I'm just used to what I've got. 
I love their new crosstab reports and how easy it is to check for any fraud or unauthorized purchases because I've got almost every account set up for auto download and auto-match of transactions. 

I realize that my mac will need to be retired within the next few years, and I'm wondering if I'll still need a laptop or if I just need a tablet, in which case I don't think Quicken will be an option, so I am open to changing over the Mint or something similar, so I'll be watching this topic closely.

lollylegs

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #9 on: July 26, 2022, 02:50:59 PM »
Another YNAB fan here. I really like being able to 'give every dollar a job'  & have sinking funds for future expenses easily set up. I like the amount of detail I can get from it and would also consider using it a big part of our ability to reduce debt and save more.

lutorm

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #10 on: July 26, 2022, 06:54:27 PM »
Since you said you don't want any manual typing, it's probably not for you, but I recently started using https://github.com/beancount. It's entirely text based, which is a strength for me since I like using my normal programming tools. It also keeps my financial data away from third parties, which is important to me. It's an accounting tool, not a budget tool, per se.


lifeisshort123

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #11 on: July 28, 2022, 06:30:51 PM »
I agree with Excel.  I have tried using mint on and off for a decade, and I cannot figure out how to use it.  I mean, I know generally how to use it, but it is so eager to tell me I am overspending - especially when there are categories that typically donít have a large monthly regular purchase, but on occasion have a large purchase (say a major car repair, insurance costs, etc.)

Chippewa

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Re: What should I use: Mint, YNAB, Personal Capital, ?
« Reply #12 on: July 28, 2022, 06:35:14 PM »
All the above and a spreadsheet :)
Personally Mint for monitoring and a spreadsheet are great for budgeting.
But PC gets a lot of praise for tracking investments.