Mint Closing: Alternatives, Timeline, And What It Means For Budgeters

To the disappointment of those who have used the Mint budget app to manage their finances for years, Mint recently announced it is shutting down in early 2024. While former Mint users will be able to transfer their data to Credit Karma (also owned by its parent company, Intuit) Credit Karma will not provide all the features Mint users enjoyed, leaving many Mint users in search of an alternative.

Personal finance apps that enable you to budget and track your spending can positively impact your financial health by providing insights you need to monitor transactions, make payments on time, and flag any potentially fraudulent charges. Accordingly, it makes sense that many former Mint users are considering other options to manage their money and stay on top of their finances.

This article discusses the features users will miss when Mint closes, as well as what to look for in a replacement and why Rocket Money^SM is a great alternative.

Intuit’s Mint Budgeting App Is Closing

The Mint app is shutting down by March 23, 2024, as its owner, Intuit, encourages users to migrate to its other product, Credit Karma. Unfortunately for Mint users, Credit Karma doesn’t offer all the same features as Mint, such as budgeting or the ability to view spending trends month-over-month.

While former Mint users will be able to import their data into Credit Karma before Mint shuts down, other personal finance apps like Rocket Money are also offering to import Mint users’ data to help provide the most accurate insights and information. This may be particularly interesting to former Mint users seeking an alternative that can utilize their historical data and offers the features they’re looking for.

What Does Mint Offer Its Users?

Mint first launched in 2007 and is considered by many to be the original personal finance management platform. Bought by Intuit in 2009, it continued to provide millions of users with features to help manage their finances, including but not limited to:

• Budgeting
• Categorized transactions
• Monthly and quarterly spending trends
• Net worth tracking
• Spending insights

While Credit Karma will offer some features moving forward, like net worth tracking, users will not be able to create monthly budgets or view upcoming bills. Several other features will also be limited compared to what Mint previously offered. For example, you will be able to compare your current month’s spending to last month’s, but not view month-to-month trends over time.

Why Rocket Money Is The Better Alternative

While Mint shutting down may be difficult for former Mint users, luckily there are alternatives like Rocket Money to help them manage their money.

Rocket Money users can import their Mint transaction history into Rocket Money and use it to build custom monthly budgetsand get tailored insights specific to their spending. In addition, Rocket Money users can also use the app to track their net worth, cancel unwanted subscriptions, negotiate lower bills, and view upcoming transactions all in one place.

Rocket Money offers several features that are like Mint, in addition to services that help users save even more, like automatic savings and bill negotiation. Such features include:   

• Budgeting
• Net worth tracking
• Manage monthly bills and expenses
• Automatic savings contributions
• Monitor your credit score
• View your full credit report
• Create custom goals
• Cancel unwanted subscriptions
• Negotiate lower bills

While there is a monthly fee for premium services like automatic savings and full credit report access, Rocket Money also offers a free version of the app and web platform which includes budgeting, spend tracking, balance alerts and more. Further, Rocket Money does not put ads in the way of a user’s experience nor charge users to remove them.

What’s Happening To Mint Users’ Profiles and Data

Credit Karma states that all Mint users have till March 23, 2024, to download or migrate their data to Credit Karma before Mint shuts down. According to its website, all Mint users will be informed when they are able to move their financial data from Mint to Credit Karma, and consent will be required prior to doing so. Mint users also have the option of downloading their data and transactional history directly from the Mint app or Mint.com.  

Once Mint users migrate their data over to Credit Karma, they will not be able to access Mint. That said, it’s recommended that Mint users export their data before migrating it to Credit Karma or importing their data to another personal finance app.

Former Mint users can import their data into Rocket Money’s web application as of December 2023. Once data has been imported via the web, users will be able to see it in the Rocket Money mobile app as well.

The Bottom Line: Rocket Money Is The Ultimate Budgeting App

While the news of Mint shutting down is likely tough for former Mint users, Rocket Money is here to help with many of the same features such as budgeting and net worth tracking, plus even more features to help our users save. In fact, Rocket Money has saved users over $1 billion to date through its smart savings feature, bill negotiation and subscription cancellation. This, combined with many of the features former Mint users loved, makes Rocket Money a great alternative to help you manage your financial life.

If you’re looking for a new way to budget your money and save along the way, download the Rocket Money app today!