Simplifi Vs. Mint 2023: Better Money Management

It’s not always easy to stay on top of your finances.

But with the help of financial management tools like Simplifi and Mint, it doesn’t have to be as difficult as you might think.

Simplifi and Mint are popular personal finance apps that help users manage their accounts, create budgets, and minimize monthly expenses.

Both money management apps offer a variety of features like tracking your spending, managing bills, and even creating budgets, but which one is better?

So let’s dive in and compare Simplifi Vs. Mint and see which best fits your needs!

Key Takeaways: Simplifi Vs. Mint

Simplifi offers personalized financial insights with a great budget program.
Mint excels in mobile user experience and security.
Simplifi offers watchlists for specific spending categories.
Mint provides features like investment tracking, a free credit score, and a bill pay tracker.
Mint is free, while Simplifi has a free trial and a monthly fee.

Final Verdict

Mint is my top pick because it is free to use and easy to manage on the go, but both apps are honestly great with many happy users.

Both Simplifi and Mint are budgeting apps offering robust tools to help users manage their financial and personal financial transactions.

Simplifi excels provides a personalized and adaptive approach to budgeting that stands out the most.

Mint offers a more comprehensive overview of your finances, including a free version with numerous features.

The ideal app largely depends on your individual financial needs and preferences.

It’s worth your time to explore Simplifi and Mint to determine which of these budgeting apps aligns best with your financial goals.

Simplifi Details

Overview

Cost: $2.99 – $3.99 per month; 30-day free trial

Simplifi by Quicken is a handy tool to help you manage your money better and achieve your savings goals.

It comes packed with features that make handling your finances a breeze.

It also helps you watch your daily spending and financial transactions, plus remember upcoming bills.

It’s available on your phone (iOS and Android) and the web to access anywhere.

Check out more about Simpli in my in-depth Simplifi Review!

Financial Overviews & Transactions

Having so many accounts between credit cards, savings accounts, loans, and more can be a lot to keep track of.

That’s why some people overdraft their bank accounts or miss due dates- costing more money in the end in fees.

Simplifi gives you financial overviews of transactions that give you a clear picture of your financial data by putting your accounts in one place.

It lets you see past and upcoming transactions in one easy-to-find spot, making it easy to stay on top of bills and other financial responsibilities. No more missed due dates!

The credit card account tracking feature is great for tracking your credit card usage. It helps you spot any unnecessary charges and keeps you in control of your credit cards.

Simplifi also includes a spending tracker that helps you dive deep into your upcoming expenses to fine-tune your monthly budgets, ensuring you get the most out of your money.

Budgeting

Simplifi stands out among traditional budgeting tools and other budgeting apps with its unique features and budgeting style.

One of the standout features of the budgeting app is the personalized spending plan, which adapts to your monthly budget based on your spending habits.

It’s a breeze to keep an eye on your spending, and you can easily adjust your budgets and create custom budgets to align with your financial goals and upcoming expenses.

The approach to budgeting, coupled with a handy budgeting tool, simplifies managing your finances and helps you stay on course with your financial objectives with the budgeting app.

Money Reports

Simplifi’s money reports provide users with valuable insights into their financial activity.

The app offers the following reports:

Spending report: Allows users to monitor their monthly spending across various categories, such as groceries, entertainment, and bills.
Income report: Helps users track changes in their monthly income and identify income trends.
Net worth report: Provides users an overview of their overall financial health by tracking their assets and liabilities.
Savings report: Allows users to track their savings progress and set goals.

Watchlist

Simplifi’s watchlist feature is especially useful for users who want to focus on specific expenses without being overly meticulous about tracking every transaction.

With Simplifi’s watchlist, users can:

Create an unlimited number of watchlists to monitor their expense tracking across different spending categories.
Stay on top of their finances and spending limits.
Make informed decisions about their spending habits.

Savings Goals

Simplifi makes saving for your financial goals simple and effective.

With its savings goal feature, you can easily work towards various objectives, whether a dream vacation, building an emergency fund, or planning for retirement.

Whether you want to save money for a specific amount by a certain date, Simplifi lets you plan it all out.

Setting target amounts and deadlines for your goals is easy. You can set up multiple saving goals for different purposes, all within your savings accounts.

This means you can organize your savings and track what you’re saving for, whether it’s a special trip or a rainy day.

You’ll be able to see how close you are to reaching your goals, giving you a clear picture of your financial journey.

Banking Alerts

Simplifi by Quicken has a handy banking alerts feature that informs you about changes in your financial accounts.

It notifies you about important events, like unusual transactions, low account balances, large deposits or withdrawals, upcoming bill payments, and even account login activity.

With just a few clicks, these alerts make it easy for users to stay on top of their financial accounts, ensuring they’re aware of crucial developments in their financial accounts and future expenses.

Mint Details

Overview

Cost: $0

Intuit developed Mint so you can count on a reliable and secure budgeting app to handle your financial accounts and reach your money goals.

Some features offered by Mint include budgeting and saving goals, keeping tabs on your financial transactions, and consolidating all your accounts in one spot.

It’s available on iOS, Android, and web browsers to access it from anywhere.

Financial Overviews & Transactions

Mint’s financial app gives you a snapshot of your finances.

You can see all your financial info in one place, including tracking your investments and future expenses, making it easy to stay on top of your money matters.

The app takes things up a notch by helping you monitor your spending. It’s like having all your financial information right at your fingertips.

Mint also offers a cool transaction tracking feature to categorize and monitor expenses so you stick to your budget and reach your financial goals.

But that’s not all. Mint helps you track upcoming bills and gives insights into your available spending.

Plus, you can monitor your credit card accounts to spot patterns and avoid unnecessary charges. 

Budgeting

Mint’s free budgeting tool is a valuable resource for anyone looking to take control of their finances.

It offers a customizable budgeting system that allows you to tailor your budget categories to match your specific spending habits, future expenses, and financial goals.

One of Mint’s standout features is its ability to provide spending insights. It shows areas where you may need to adjust your spending to stay on track and set spending limits with your budget.

Mint also keeps you accountable with helpful notifications and alerts.

If you approach or exceed your budget limits, Mint will send you reminders, helping you avoid overspending and stay aligned with your financial goals.

Money Reports

Mint’s money reports provide users with valuable insights into their financial activity. The app offers the following reports:  

Spending: Mint helps you keep tabs on your spending. It categorizes your transactions so you can see exactly where your money goes.
Income: Mint also tracks your income. You can link your various income sources, such as your salary, freelance earnings, or rental income.
Net Income: Net income remains after deducting your expenses from your income. Mint calculates your net income by subtracting your spending from your income.
Assets: Mint allows you to monitor your assets, which include your bank accounts, investments, and real estate to your vehicles and valuable possessions.
Debts: Mint categorizes your debt and provides insights into your outstanding balances and payment schedules from your credit cards, loans, and other liabilities.
Net Worth: Mint calculates your net worth by subtracting your total debts from your total assets.

Savings Goals

Setting and achieving saving goals is crucial to managing your money, and Mint makes it easy.

Whether saving for a special trip, building an emergency fund, or planning retirement, Mint’s saving goals feature covers you.

You can create savings goals for different purposes, track your progress, set target amounts and deadlines, and even get reminders to help you stay on course.

You can adjust your goals as needed, keeping you motivated and focused on your financial objectives.

Even better is that Mint integrates your monthly contributions to these goals into your spending plan.

It means you can easily monitor your progress and stay on track while working towards your financial milestones.

Banking Alerts

Staying informed about important account activity is crucial for effective personal finance management.

Mint offers banking alert features that provide timely notifications about:

Unusual or unexpected transactions
Low balance
large deposits or withdrawals
Bill due dates

These alerts help users stay on top of their finances and ensure they’re aware of crucial events.

Users can personalize their notifications and choose their preferred delivery method, such as email or the application, to stay updated on their financial activities.

Free Credit Score

Mint’s free credit score feature is valuable for users looking to monitor and improve their credit scores. It provides users with:

Access to their credit score and credit report
Valuable insights into their creditworthiness
A credit score calculation model developed by Intuit
A credit score provided by TransUnion
Credit monitoring tools

Access to your credit score and report can help you make informed decisions about borrowing and credit usage, ultimately leading to better financial data management and improved credit standing.

Bill Pay Tracker

Mint’s bill pay tracker is a useful feature that helps users manage and track their bill payments, ensuring they stay on top of their finances.

The app offers the ability to track bills and payment due dates, set reminders to pay bills and view upcoming bills and available balances in one place.

By consolidating all bills, including credit card bills, utilities, offline payments, and recurring bills, Mint’s bill pay tracker offers a comprehensive view of users’ financial obligations.

This feature allows users to stay organized, avoid late fees, and control their finances.

Track Investments

Mint offers investment tracking that helps you keep a close eye on your investments by allowing you to compare your portfolio to market benchmarks.

You can also effortlessly see how your investments are spread across various accounts, such as 401(k)s, mutual funds, brokerage accounts, and retirement accounts like IRAs.

Investment advisors, brokerages, and 401(k) providers often charge fees that might go unnoticed but can significantly impact your earnings.

Mint’s investment tracking tool is designed to help you spot these hidden fees.

Mint Salary

Mint Salary lets you compare salaries for similar jobs in different cities in the U.S. They get this info from TurboTax customers, which is all financial data inside Intuit.

With Mint Salary, you can check if your salary matches others in your industry and area. You can also see who’s doing these jobs by age.

It helps you make better money choices while working towards your financial goals. It’s a useful tool to have!

FAQs

Are money management apps worth using?

Yes, apps to help you manage money are worth using!

Instead of manually creating a budget and tracking your money, these mobile apps offer efficient ways to organize your finances.

From tracking purchases, setting budgets, and monitoring bank accounts and investments, these budgeting tools simplify managing your money.

Using an app for managing your money can also give you a clear overview of your available funds and help you avoid overspending.

Are there free money management apps?

Yes, many free apps help you manage money available in the market.

Mint is the best free app for personal finances, in my opinion, and our family has used it for several years.

We still have a physical budget and track spending that way for more accountability with money, but Mint helps us see how we can better budget and save more every month.

Is Simplifi or Mint better to use for personal finance management?

Both Simplifi and Mint are highly-rated personal finance management apps.

Simplifi is known for its clear, user-friendly interface, whereas Mint is a free budgeting tool that offers features and syncs with several financial institutions.

Ultimately, the choice between Simplifi and Mint depends on your individual needs and whether you can afford a monthly subscription or need a free program.

It’s always best to compare their features and choose the personal finance software that suits you best and doesn’t have a steep learning curve.

Are there any other money management apps I should consider?

There’s another promising personal finance app worth considering: Empower.

Empower offers a suite of features for your financial accounts, like transaction tracking, budgeting, detailed money reports, savings goal management, and banking alerts.

With these tools, you can understand your financial situation, set and stick to budgets, access valuable insights into your spending patterns, and more.

It’s also the best app to manage your investments if you need a way to track your stocks more closely.

Read more about it in my in-depth Empower Review!

Final Thoughts

Picking a personal finance management app is a significant step towards gaining control of your finances and achieving your goals.

Simplifi and Mint offer powerful features like traditional budgeting tools to help you manage your finances and better control your money habits.

But Simplif Vs. Mint- Which is better for you?

I think Mint is the best free option that lets you create a budget, track your spending, and even manage your investments.

Still, the choice ultimately depends on your unique needs and preferences when it comes to a personalized spending plan.

Select the budgeting app that best aligns with your financial objectives and can create custom budgets for your monthly spending.