Mint Is Shutting Down, and It's Pushing Users Toward Credit Karma 41
Emma Roth reports via The Verge: Mint, the budgeting app owned by Intuit, is shutting down. Intuit announced on Tuesday that Mint will get absorbed into Intuit's other service, Credit Karma, when it officially goes away on January 1st, 2024 (via Bloomberg). But it's still not clear whether Credit Karma will get the budgeting features that Mint is known for. [...] Mint had 3.6 million monthly active users as of 2021, Bloomberg reports, but the app's development has slowed down considerably in recent years, with the last major updates being new categorization features and the ability to connect the Apple Card to Mint. [...]
Intuit first acquired Mint in 2009, an app that has offered a free way for users to track their budgets, manage expenses, negotiate bills, and keep tabs on subscriptions. Now, Intuit is inviting users to Credit Karma, a service that the company acquired in 2020. While Credit Karma offers similar features, like the ability to view transactions, track spending, aggregate financial accounts, and credit monitoring, it still doesn't come with the same budget tracking tool that many people specifically use Mint for, and it's not clear whether Credit Karma will ever adopt it. On a support page on Credit Karma's website, Intuit says "the new experience in Credit Karma does not offer the ability to set monthly and category budgets," adding that the app instead "offers a simplified way for you to build awareness of your spending, and track your savings."
Intuit first acquired Mint in 2009, an app that has offered a free way for users to track their budgets, manage expenses, negotiate bills, and keep tabs on subscriptions. Now, Intuit is inviting users to Credit Karma, a service that the company acquired in 2020. While Credit Karma offers similar features, like the ability to view transactions, track spending, aggregate financial accounts, and credit monitoring, it still doesn't come with the same budget tracking tool that many people specifically use Mint for, and it's not clear whether Credit Karma will ever adopt it. On a support page on Credit Karma's website, Intuit says "the new experience in Credit Karma does not offer the ability to set monthly and category budgets," adding that the app instead "offers a simplified way for you to build awareness of your spending, and track your savings."
YNAB (Score:3)
Re: YNAB (Score:1)
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Empower (Score:2)
Empower has a $100K minimum [nerdwallet.com] required to open an account.
Re: YNAB (Score:2)
YNAB has done more to reduce anxiety and worry in my life than any other piece of software ever. It has helped me to be debt free, to build wealth and have financial security. If you worry about money or how you make your finances work, take 10 minutes and check it out.
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What the hell is YNAB?
And I thought Mint was a mobile phone service?
Dammit! I don't know shit!
Re: YNAB (Score:5, Insightful)
And I thought Mint was a Linux distro.
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I thought it was that cellular provider owned by Ryan Reynolds
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Mint Is Shutting Down (Score:4, Insightful)
That headline almost gave me a heart attack.
Are you trying to kill me? (Score:5, Insightful)
Mint Is Shutting Down
and I nearly lost it! It's funny because I still use Linux Mint but haven't used my Mint account in over a decade.
Re:Are you trying to kill me? (Score:4, Insightful)
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Or it could've been Mint Mobile [mintmobile.com]. None of these marketdroids can have an original idea, can they?
I don't understand why (Score:2)
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I don't know what guncash is, but as an American, I'm intrigued!
(not to be confused with gun cache)
Re:I don't understand why (Score:4, Informative)
1. Spell it correctly GnuCash
2. Provide a URL to the alternative. GnuCash [gnucash.org]
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Gun cash? Autocorrect strikes again!
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Intuit has as large of a customer base as they do. Anyone starting a business should understand basic bookkeeping since it greatly improves your odds of success. Which means many can save a lot of cash at the start by using something like guncash.
GnuCash is a Quicken replacement. If you are starting a business, you would not be using Quicken (except, perhaps, in the simplest possible case, such as a sole proprietor landscaping company, or an independent landlord that owns a small handful of properties), you would be using something like Quickbooks instead--which GnuCash is not a replacement for.
Note: I have no love for Quickbooks and do not suggest anyone use it, but you need some kind of real accounting software to run a business, personal finance
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I've tried gnucash and also Intuit's similar products of some stupid names I don't remember. They all suck. I can do much better with simple Excel (no not LOCalc, because that also sucks). The bookkeeping progs have terrible UIs, and if you don't want to do things exactly their super obscure way, you lose. The only advantage was that you could download stuff directly from banks or brokerages, but that also turned out to be so broken as to be unusable, not to mention probably a security risk.
Moneydance (Score:1)
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I ditched Intuit many years ago, both Quicken and TurboTax. I've been using Moneydance ever since (no affiliation). It's not quite as polished, but it does the job well for me. It's not free (the best things rarely are), but it still has one-time license purchases available, or a subscription if you're that type of person.
I have used Moneydance for almost two decades and love that you plugged it. It seems to be the best kept secret of Personal Finance and is cross platform. Sadly, I find myself contemplating switching to GnuCash, in part because of some recent bloat/bugs in MD, and because of various limitations (with reporting and budgeting) that have existed since the outset. I’ve worked around them with spreadsheets but the duplicate data entry gets tiresome and I feel I've outgrown MD. We'll see what happens wi
Quicken is still alive (Score:1)
Locked in, would be very difficult to move out. They tried hard to push all quicken users to on line account and mint.
Recently they said they are splitting on line version from desktop app. So I was sort of expecting them to dump one or the other. Looks like they are dumping the on line version.
Good thing they are ditching the on line version. The performance was horrible, when they tried to do all the work on their servers
Intuit sucks thick canal water. GnuCash rocks! (Score:4, Informative)
Intuit is awful across the board. Don't forget TurboTax is also an intuit product. I was stuck with Quicken for about 17 years before I finally got everything into GnuCash about 15 years ago, and it was a great move! GnuCash is a God-Send compared to Quicken, especially for non-US banks that export transactions using the MT940 format, (while not using/paying for Intuit's proprietary formats).
It also wasn't nearly as difficult for me to switch as one might think. And this time of the year is the perfect time to be decisive, because here is the trick:
Starting on January 1, ensure all transactions and accounts are balanced using GnuCash, simple as that. It is easy to do on January 1, because there are so few transactions to balance. Do the same for January 2nd, and so on, until you are completely comfortable with the GnuCash book-keeping process, (because the amount of transactions to import and keep balanced are so low in number as of January 1). Before January 1, just make a few GnuCash test drives to study how everything works. Don't bother trying to incorporate and balance transactions older than January 1 at this point.
Later on, when you are completely comfortable with GnuCash and really ready to import past years' transactions, using backups just in case, it is relatively easy to import all those transactions in bulk, because you are only focused on importing and ensuring balances as of December 31 - January 1 for each account.
This technique was relatively painless to implement, was totally worth it(!), and cured my Quicken headache.
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Beginning of the year is the time to shift systems. You have to run both in parallel for a couple weeks to close out the old year, and then you are cleanly in the new year.
Personally I use three spreadsheets, one for the budget, one for taxes and one for investments. I suppose I could combine them into one, but I prefer them separate. Then I can play what if without making a mess elsewhere.
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It's a little bit harder to migrate than you imply. You can probably get away with a straight up import of your Quicken data, assuming it imports without error(*) but when I took a stab at that using my decades of Moneydance [moneydance.com] data the resulting chart of accounts [wikipedia.org] in GnuCash was a complete mess. To do it right, you need to set up a proper chart of accounts, which isn't terribly difficult, but it can be a little overwhelming for people with limited accounting knowledge. Once you have the chart of accounts, y
Re:Quicken is still alive (Score:5, Informative)
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Could you elaborate on what you mean by "locked in"?
I, too, had many years of Quicken history on my Mac. My copy was from the early 00's: PowerPC era. When MacOS moved far enough to discontinue Rosetta, I was able to purchase a cheap "extended support" copy that was a 32-bit Intel recompile. Eventually MacOS upgraded far enough that even that wouldn't work. The up-to-date
Love those CSV files from your bank? (Score:3)
Plain Text Accounting for the nerds in the audience. https://plaintextaccounting.or... [plaintextaccounting.org]
Click bait? (Score:3, Insightful)
Aww shucks (Score:1)
I must change my routine now, that happens, but I'm not super excited about it.
Obligatory for Intuit (Score:2)
...and nothing of value was lost.
Don't know how I feel about this (Score:2)
Oh, that Mint (Score:2)
I would be bummed out if was the beginner-friendly linux distro that shut down. No matter one's opinion on its non-FOSS permissiveness, it does provide a fairly elegant desktop experience that's user-friendly enough for everyman.
But I would have been relieved if it was the MVNO cell service. Their aggressive bombardment of online media with ads featuring Ryan Reynolds has led to me having a visceral reaction to his voice. I'm just so tired of it.
But the Mint that actually did shut down? I have no opinio
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I don't know if things have changed, but when I first saw Mint, I thought it was a cool idea so I wanted to try it out. But it required the login information for all my bank accounts.... That was a non-starter...
That's too bad (Score:2)
I used this service when we were working on getting out of debt. Seeing our entire financial picture in a single pane of glass was nice.
It became inconvenient over time because they struggled to keep up with evolving security requirements from Banks. That single-pane-of-glass is less of a convenience when updating it requires you to remove, readd, or reauth three or four institutions to see fresh data. I didn't really use the spending tracker features; Classifying transactions is not ADHD friendly. :|
Inevitable (Score:2)
I used to like Mint and used it a lot, but over time it had more and more trouble staying linked to my various bank accounts. As banks increased their security, whatever means Mint used to log in and scrape data became undependable. It got to the point where I was spending more time trying to fix broken bank connections than actually using Mint's features, and my main bank, mortgage and credit card would go months and even years broken, making Mint effectively useless at providing relevant, up-to-date data.