Best Mint Alternatives for High-Net-Worth Individuals
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Table of Contents
Why Did Mint Shut Down?
High-Net-Worth Budgeting
The Best Mint Alternatives
Other Mint Budgeting Alternatives
Transitioning from Mint to Alternative Budgeting Apps
When Intuit announced the discontinuation of the Mint budgeting app in early 2024, many users were left wondering what budgeting platform to turn to. Mint was cited as one of the best budgeting apps and expense-tracking tools for high-net-worth individuals, according to Long Angle’s 2024 High-Net-Worth Spending report.
Mint users had until March to download their data from Mint. This unexpected change sparked discussions about the best Mint alternatives for high-net-worth individuals interested in tracking spending and cash flow across credit cards and checking accounts.
Why Did Mint Shut Down?
Mint used to be one of the most popular personal finance apps, with about 3.6 million active users. It offered comprehensive features, an easy to use platform, and a free version. Intuit began phasing out Mint in January 2024 and officially shut it down in March 2024.
Intuit also owns Credit Karma and has encouraged users to simply switch to that platform. The company framed the shutting down of Mint as a consolidation, merging its features with those of Credit Karma. However, not all features were transferred to Credit Karma, including monthly budgets and customized categories, which has led many users to search for the best Mint alternatives for budgeting.
High-Net-Worth Asset Allocation Report
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High-Net-Worth Budgeting
Personal finance can be complicated for high-net-worth individuals as a significant amount of money typically goes into savings and investments. There are different schools of thought when it comes to tracking high-net-worth spending, savings, and investments.
The 2024 High-Net-Worth Spending Report by Long Angle found that almost half of respondents track just expenses, 28% track both expenses and budget, and a quarter do not use any budgeting or tracking system. Many high-net-worth individuals also choose to work with financial advisors or wealth managers for professional oversight over their financial planning.
For those who do use tracking and/or budgeting tools for personal finance, there is a strong desire for customization and automation options that increase user control without the tedium of manual entries. Many high-net-worth individuals also want a unified tool that combines both budgeting and investment tracking features. Finding the best alternatives to Mint for budgeting continues to be a priority for those affected by the discontinuation.
The Best Mint Alternatives
Long Angle polled its community of high-net-worth individuals on their favorite alternatives to Mint and got the following results:
Empower
Similar to Mint, Empower offers comprehensive features including budgeting, savings, investing, and retirement tools. It can connect with thousands of financial institutions and offers both web and mobile app versions. It tracks net worth and credit score and includes a handy tool for paying down debt.
Price: Free
Pros:
Good for investment tracking, including alternative investments such as crypto or real estate
Free (although investment services require a fee)
Cons:
Some users experience issues with customer service and accessibility of funds
Monarch Money
Monarch Money receives positive feedback for its user-friendly interface and comprehensive view of net worth and cash flows. Unlike tools that require approval of every transaction, Monarch provides a big-picture view of spending without the need for constant monitoring. Features such as real-time monitoring, recurring bill and subscription tracking, and cash flow diagrams make it a competitive alternative, and users report that transitioning from Mint to Monarch has been a smooth process.
Price: $8.33 a month, billed at $99.99 annually
Pros:
Multiple logins
No ads
Free 7-day trial
Cons:
Some users report issues with syncing investment transactions, making it better for tracking spending rather than investments
Does not track credit score
Copilot
Intuitive and easy to use, Copilot won an editor’s choice award on the Apple App Store. Copilot uses AI and machine learning to create an adaptive budgeting system that adjusts to user behavior over time. Copilot covers spending, budgeting, and investing and includes real-time net worth tracking.
Price: $7.92/month, $95 if billed annually
Pros:
No ads
One-month free trial
Adaptive budgeting system
Cons:
Only available for iPhone and Mac right now
Quicken
Quicken offers two budgeting tools: Quicken Classic and Quicken Simplifi.
Classic, which has been available for decades, includes tools for business, personal, and property management. It is primarily a desktop app but offers companion apps with limited functionality.
Simplifi launched in 2020 and offers mobile and web versions—no need to download a desktop application. It lets users create an automatic budget based on spending and expenses.
Price: $3.99/month for Simplifi, Classic plans range from $7.99/month to $10.99/month
Pros:
Classic offers property management tools
Long-term data tracking capabilities
Cons:
Property management tools limited to Windows users
No free trial or free version
Limited app functionality for Classic version
YNAB
Launched in 2004, You Need a Budget (YNAB) is a modern platform that caters to younger users. In fact, students can use YNAB for free for one year, and the app includes plenty of educational content. YNAB uses a zero-based budgeting system, finding a use for every dollar in a user’s budget. This system might make it more challenging to pick up for those not familiar with this technique. YNAB allows users to link bank accounts, set goals, and build custom budgets based on income.
Cost: $14.99 a month or $109 paid annually
Pros:
Free 34-day trial
Educational resources
Can share budget with others (good for family budgeting)
Cons:
Does not track investments
Mixed reviews about auto import
| Empower | Monarch | Copilot | Quicken | YNAB | |
|---|---|---|---|---|---|
| Price | Free | $8.33/month, billed at $99.99 annually | $7.92/month, $95 annually | $3.99/month for Simplifi, Classic plans range from $7.99/month to $10.99/month | $14.99/month or $109 annually |
| Pros | Good for investment tracking, including alternative investments Free | Multiple logins No ads Free 7-day trial | No ads One-month free trial Adaptive budgeting system | Classic offers property management tools Long-term data tracking capabilities | Free 34-day trial Educational resources Can share budget with others |
| Cons | Some users experience issues with customer service and accessibility of funds Investment services require a fee | Some users report issues with syncing investment transactions Does not track credit score | Only available for iPhone and Mac right now | Property management tools limited to Windows No free trial/ free version Limited app functionality for Classic | Does not track investments Mixed reviews about auto import |
Other Mint Budgeting Alternatives
Lunch Money
Lunch Money supports multiple currencies and automatically imports transactions, making it a practical tool for those with diverse financial portfolios. It offers account syncing, strong budgeting features, net worth tracking, and automatic categorization of expenses.
Price: Pay-what-you-want scale starting from $40 up to $150
Pros:
Automatix FX conversions, can handle both USD and EUR accounts
Cryptocurrency wallet tracking
Cons:
Android app only
Tiller
Tiller is a great option for those who like spreadsheets. It is Excel or Google Sheet-based and offers a variety of templates. Users also appreciate the responsive customer service. While it is not the flashiest option, it is good for those who want to put raw transaction data into a spreadsheet.
Price: $79 a year
Pros:
Free 30-day trial
Cons:
Desktop only
Rocket Money
Rocket Money is another free option, although there are premium features such as concierge service and bill negotiation. Users say Rocket Money is easy to use and good for those who want to reduce their spending. It allows users to sync bank accounts and credit cards, build a budget, track investments, and monitor credit scores.
Price: Free
Pros:
Free version
Bill negotiation (requires a fee)
Cons:
Free version has limited functionality
Excel and Google Sheets
Some people prefer the control of integrating raw transaction data into spreadsheets. For spreadsheet-savvy users, there are lots of options to customize and auto-categorize using user-defined rules (and it comes at no cost). The downside, of course, is the time it takes to manually enter data, set up rules, and build reports.
Transitioning from Mint to Alternative Budgeting Apps
With Intuit sunsetting Mint and Credit Karma not supporting all the features Mint users were used to, many high-net-worth individuals are moving to other budgeting platforms. While Monarch and Empower are two of the best Mint alternatives, it is worth exploring all the options to find the functionalities that work best for every individual.
When determining the best strategy to budget and track spending as a high-net-worth individual, it can be helpful to talk with peers. A high-net-worth community opens the door to meaningful discussions on topics such as these and support from people who understand the unique challenges of wealth management. Join Long Angle to tap into a supportive community, curated investments, and focused peer groups.
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