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Finance

Mint Is Shutting Down: Here Are the 5 Best Free Budgeting Apps to Use Instead

Mint aficionados need not despair when Intuit shutters the popular free money management app on January 1, 2024. Although users will be routed to the company’s other tool, Credit Karma, there are many other personal finance apps that have functions similar to Mint. This may be the perfect time to branch out and home in on the features that you most appreciate.Here are five alternatives to Mint that can help you manage your money. Like Mint, they don’t cost a penny to download.The Sofi Insights app is an online budget planner and money tracker app. Like Mint, it enables you to link all of your bank accounts, allowing you to keep a close watch on your spending. This can really help when you want to identify areas of waste and inefficiencies – and stop overspending.At any given time you’ll see where your money has gone, arranged in common budgeting categories such as food, transportation, entertainment and utilities. You’ll even get access to a free 30-minute phone session with one SoFi’s in-house financial planners.If you were using Mint as a way to track your debt, the Debt Payoff Planner app will appeal to you. There is a free version and one that’s subscription based, but the free service will do the trick for most consumers.After entering your accounts into the system you’ll have a comprehensive picture of all of your creditors. You can then decide how you want to approach your balances. It will show you the difference between the snowball method, which deletes the smallest debt first while making minimum payments on the larger debts, or the avalanche technique, which involves paying the debt with the highest interest rate first. You can create your own plan, too, and the app can show you the impact of making an extra or larger payment.Developing a spending plan should be customizable. Mint helped with budget development but other apps do it better. The Goodbudget app leans into the classic envelope system and you determine the amount of money you want to spend in certain categories.GoodBudget lets you approach the budgeting process in a few different ways. For example, you can develop your envelopes based on your past financial habits or to plan for a different income stream. When various events or holidays are on the horizon, you can easily switch funds around so you’re prepared for the upcoming costs. Your budget will be based on what is important to you. If you have a partner you need to loop in, you can sync and share it with that person so you’re on the same page.If you liked Mint because its portfolio tracking software helped you save and invest, turn your attention to Webull. This free app not only tracks your investments to keep your financial plan on track, you can research, screen and trade securities such as stocks, ETFs and options.With Webull there is no minimum account size, so you can start no matter how much cash you have on hand – and it offers commission-free trading. The app is simple to set up, and you can start investing and trading immediately.One of the many reasons people liked Mint is that it helped them understand their money habits. It didn’t offer much in the way of personal finance education, however. If that’s what you’re looking for, check out the free Zogo app. Although it’s developed for young adults, anyone can use it to improve their knowledge base – and get rewarded along the way.Zogo offers hundreds of financial education modules on a huge range of topics, such as car buying and credit development. When you take and pass a class, you’ll earn rewards you can redeem for gift cards to popular retailers such as Amazon and Target. You can also earn rewards by participating in daily trivia questions, keeping you involved in the financial education process.It can be easy to overwhelm your mobile device with apps, but you may need to try a few out before you choose the right one. You don’t want to wind up with a bunch of apps with duplicate functions. For example, SoFi Insights is terrific for expense tracking but it also provides you with your most current VantageScore credit score, and the Debt Payoff Planner will help you delete your debt but also includes plenty of financial education articles.Mint was a beloved app for excellent reasons and Credit Karma has many valuable attributes. But there’s a wide world of financial apps available at no cost to you. Download as many as you need to stay on top of your money so you can reach your goals.

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