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When it comes to getting your personal finances under control, there is much to be said for nailing down the details with an intuitive app. Recent fintech options make it possible to get live updates of your bank balances, debts and long-term savings all at once. Having this information is key to making the necessary financial decisions to budget effectively and meet your savings goals.
The two most popular personal finance apps are Personal Capital and Mint? But which app is best for you? Both are good, but depending on your day-to-day needs and long-term financial goals, one may suit you better than the other.
For people who get tired of logging into six different banks to have a look at their retirement, investments, checking and savings accounts, Personal Capital is an ideal option. The browser and app-based dashboard created by Personal Capital lays out the entirety of your linked financial picture, permitting a bird’s eye view for strategic planning.
Mint is the original budgeting app. You can link Mint to your bank accounts to get an instant picture of your financial situation whenever you need it. Thanks to its built-in budgeting features, many use Mint to help develop a budgeting strategy. Mint is owned by personal finance giant Intuit.
Personal Capital Vs Mint: Which Does What?
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Developing a Budget
Developing a budget is a key element of shoring up your financial health. Both Personal Capital and Mint have budgeting options.
Built into the Personal Capital app is an automatic budget system that tracks your spending. You set goals for the month and can compare your actual spending to those goals in real-time right in the app.
Not only can you plan your budget in Mint, but you’ve also got the support of AI as well. The Mint app automatically drops your purchases into categories so you can keep track of what you’ve spent and how your budget is faring with day-to-day spending.
You can also automate keeping an eye on your spending when you take advantage of the Mintsights included in the Mint app, which compares prices across months and let you know if your subscriptions spending has increased.
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Personal Capital and Mint also aim to help you watch your debt. This includes large debt like your mortgage or small debt like your upcoming phone bill.
Personal Capital’s Net Worth Calculator
Personal Capital’s net worth calculator can be used to keep track …….