2020. 2. 10. 01:19ㆍ카테고리 없음
Dec 10, 2018 Personal Capital vs Mint – What You Get with Both. Both programs share several fantastic features: Free to Use – Naturally, the first benefit we all look at is that they are both free! When you compare Personal Capital vs. Mint, they both offer fantastic benefits at no cost to the user. And, these aren’t just lame freebies either. Mint vs You Need a Budget vs Personal Capital. Jan 10, 2019 by Ada Do Budgeting Personal Debt. Budgeting apps can help users take more control of their money, and can be a great way for people to keep track of their money goals. You Need a Budget (YNAB), Mint, and Personal Capital are three great apps for budgeting.
.Being a user of both Personal Capital and Mint, I'm here to give a complete, detailed comparison review. About Personal Capital and MintAbout Mint:launched in 2006 and was quickly dubbed the 'Quicken killer.'
It was one of the first free budgeting apps. Unlike, Mint was special in that it instantly synced your accounts so that you can see your finances in real-time from anywhere.About Personal Capital:launched in 2011 and offers two services: 1) free and 2) a paid for investors with at least $100k. In this comparison review, we're only looking at the free personal finance tools.
Quick Takeaway: Which is better Personal Capital or Mint?Personal Capital is better for long-term investment tracking and retirement planning. Mint is better for budgeting, goal setting, and managing your day-to-day money. Read on to learn which is right for you.Key SimilaritiesBoth Personal Capital and Mint allow you to view your financial life in one place.
To track offline budgets (like for rent, babysitter, etc.), you have to manually add offline expenses in 'Transactions.' For example, if you pay your babysitter in cash, you'd add a budget category for 'Babysitting & Daycare.'
Then, as you pay the babysitter, you will add manual transactions and categorize them as 'Babysitting & Daycare.' This way, Mint will pull the data from your transactions.In comparison, Personal Capital's budgeting feature is very simple. You can only set an overall monthly budget. It'll track how much you've spent this month so far, and compare to your spending last month. You can't assign a budget to each spending category or set other features.Goal Setting—Winner: MintMint is the clear winner when it comes to goal setting. It allows you to create short-term and long-term goals (such as pay off debt, buying a house, emergency fund, college, etc.).After you've picked a goal, Mint will help you calculate how much you need to save in order to reach the goal by the target date.
You must link an account to each goal in order for Mint to be able to track it. As you save money each month, Mint will update the goals with your progress.I find this feature a little glitchy sometimes. For example, it doesn't recognize that I've deposited money into the accounts towards the goals, so it still shows $0 this month (above screenshot).Personal Capital does not have any personal or short-term goal setting abilities. It only offers retirement planning (which we'll cover below).
Debt Payoff—Winner: MintMint offers debt payoff planning as part of the goal setting feature. It helps you create a plan according to your budget.Start by choosing 'Pay off Credit Card Debt' as a new goal. Mint will automatically detect which accounts have debt. You can select the accounts you want to pay off.Enter how much you can afford to pay each month. Mint will tell you how long it'll take to pay it off and how much you'll pay in interest. You can play around with the slider to see how different amounts will affect payoff.Personal Capital does not offer any debt payoff planning. Bill Reminders—Winner: MintPersonal Capital will only pull up bills for credit cards, loans, and mortgages.
But most of us have more monthly financial commitments than that.Mint gives you a much more complete view of your monthly bills. You can also link utility accounts (like DirecTV, Verizon), and even add offline bills (such as for rent, cleaner, babysitter, etc.).
Mint will show you the overall amount of bills due this month and how much cash you have available.Mint also does a better job of alerting you when a bill is about to be due. As far as I recall, I've never received a bill reminder from Personal Capital. Neither allows you to pay bills directly from the platform. Mint used to have a bill pay feature, but it's no longer supported (as of June 2018).Investment Tracking—Winner: Personal CapitalBoth combine all your investment accounts to show the overall performance of your portfolios and compare them to market indexes. But Personal Capital is the clear winner.Personal Capital really shines in investment tracking, as its main business is investment management.
It offers free personalized advice to improve your investment strategy.The investment analysis tools include:. Fee Analyzer. Calculates how much is being lost to fees and the expense ratio within each fund. This way, you can consider switching out funds with high fees.
Investment Checkup. Analyzes your current investment strategy and suggests a target allocation.
It also tells you exactly how to rebalance your portfolio to reach the suggested allocation.Read more about Personal Capital's investment tracking tools in our.In comparison, Mint is purely an investment aggregator. It merely combines your accounts to show performance. It doesn't provide any advice.I find that Mint's investment tracking is very glitchy.
Half the time, I get an error message saying that it can't find any information, so it's a little useless.And Mint can't seem to break down your portfolio's allocation at all (below).This area is not Mint's main purpose. If you're serious about investment tracking and improving your strategy, Personal Capital is the only answer.
Retirement Planning—Winner: Personal CapitalPersonal Capital has one of the most advanced free retirement planning tools. You set your target retirement age and how much you plan to save per year. Personal Capital will calculate what your retirement looks like.Personal Capital's retirement planning features include:. See projected portfolio values at different ages.
See projected monthly retirement income. See calculated Social Security distributions. Get recommendations on what you can change to grow your retirement savings.
Enter 'what if' scenarios (like buying a house, paying for a wedding, traveling), and see how these will impact your retirementMint does not offer any real retirement planning abilities, except for basic tracking of a retirement goal. Credit Monitoring & Alerts—Winner: MintAn added bonus for Mint is that it gives you free credit score and monitoring from TransUnion.It also tells you the factors that affect your credit score, such as your on-time payments, credit usage, total accounts, credit inquiries, etc. This information is very helpful so you can monitor how you're doing and.Another plus for Mint is that you can set up customized alerts to stay on top of your finances. Alerts include:. Credit score updates and credit changes. If an account drops below a certain balance.
If available credit drops below a certain number. If there's unusual spending in a category. If there's a large purchase above a certain amount. If you're charged a bank fee. Bill remindersThis helps you monitor your accounts in real-time. You know right away if something goes off track and you can take steps to fix it or adjust your budget.Personal Capital does not have alerts except for the weekly spending, investment, and net worth reports.
Security—Winner: Personal CapitalBoth Personal Capital and Mint take these security measures:. AES-256 encryption.
Credentials are store in a separate, inaccessible database. Multi-factor authentication. Extra log-in protection on mobile app. Backend security that keeps employees from viewing users' credentialsThe biggest distinction is that Mint uses 128-bit SSL encryption when linking to a financial account, while Personal Capital uses AES-256 encryption. Both are essentially unbreakable, but AES-256, which is the only level of encryption used by the U.S.
Government, is more complicated to hack. About CreditDonkey®CreditDonkey is a stock broker comparison website. We publish data-driven analysis to help you save money & make savvy decisions.Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).
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You should consult your own professional advisors for such advice.
There are a few options if you want to start tracking your spending and investments. You could always write things down on paper or start an Excel spreadsheet and track everything manually. However, this method has its complications. First of all, it is very time-consuming,. secondly, it is too easy to forget things,. and lastly, you then need to constantly update it manually if you want to keep an accurate representation.Even if you get everything right and don’t forget anything, you will need to go back to it every month just to keep it up to date. I can easily think of better things to do with my time and I am sure you can too!You can easily see how this can get out of handThankfully, there are better options out there!
Two of the most popular web-based personal finance trackers out there are and.They offer similar services, but they each specialize in key areas. On one hand, Mint offers great budgeting tools, automatically tracks your expenses pretty accurately. It can help you track all your accounts under one simple dashboard.On the other hand, Personal Capital offers hyper-accurate expense and income tracking and aggregates all of your accounts on one page but also offers one of the best retirement calculator and tracking tool available, focuses on investments with top-of-the-line portfolio management tools, and offers advisory and wealth management services. Another huge plus is that, although both services are absolutely free to use, does not run on ads.Personal Capital vs MintMint is a free web service to aggregate all of your financial accounts, including bank accounts, investment accounts, credit cards and other loans.Once you completed the integration, Mint will automatically track your income and expenses and alert you when things are out of your normal activity. They offer a great tool to see your entire financial situation in one glance.The sign-up process is extremely simple, all you need is a valid email address and a strong password and you are up and going! You can then link your bank accounts, credit cards, and investment accounts, and then they will update in real time.Their bill reminders are pretty useful and email alerts let you stay on top of your finances. Alerts will be sent when there is a large purchase, an upcoming bill payment, late fees, loan rate changes, and when you may be in danger of going over your budget.Mint.com`s strong suit is their budgeting platform. Once you sync your accounts and transactions, it will automatically sort them into appropriate categories going forward.
Below, you can see how our transactions automatically got assigned to specific categories. This gets really useful once you want to create a budget or simply track your spending.For any transaction which does not get sorted properly (which can happen a lot with Mint) you can go select the proper category manually. Personal Capital offers the same thing, however, it has much fewer reported synchronization issues. They use a different aggregator (Yodlee) and it runs much smoother.Once all of your transactions are properly categorized, you can then budget (planning future expenses).
Another option is to look at your spending trends (looking into the past expenses). We prefer looking at trends to discover where we can do better rather than imagining a budget and trying to follow it.It is never fun to plan a budget and see how miserablyyou failed only halfway through the monthAnother useful tool on the Mint application is goal-setting. This can include saving money for specific purposes like college, retirement, a vacation, or paying off debt. Also offers a goal-setting tool which goes even more in depth.Mint’s business model is to recommend new products and, hopefully, make you save on credit cards, investing, insurance and loans. However, we have found these suggestions to be irrelevant to our situation and clearly just advertising.Other cool features Mint offers are credit score monitoring and bill payments. You can pay bills directly in the app and never be late on a payment again. What is nice about their credit score monitoring service is that it even shows you the impacting factors, and how to use them to improve your score.Pluses of Personal CapitalPersonal Capital offers free tools to aggregate your finances and help you track and master your money.
Personal Capital Vs Quicken
Once you have signed-up, simply link your investing, savings, checking, credit cards and other loan accounts and let it do its magic.Where Mint excels at budgets, Personal Capital excels at wealth management tools. Their focus on investments is what makes them, according to the many awards they have won, one of the best financial tools currently on the market.The sign-up process for is free and super simple. All you need is a valid email address and a strong password and you are up and going!
You can then link your bank accounts, credit cards, and investment accounts, and then they will update in real time. However, they do not offer tools for Canadian yet.They have a growing community and their support staff is very responsive. Unlike Mint, Personal Capital offers quick responses to any questions you might have. They are very responsive and usually fixes issues under 24h.Just like with Mint, you can easily track your income and expenses with and create a budget. Their spending tool allows you to monitor your spending habits and adjust your lifestyle to achieve your goals.On that note, their goal setting tool is great to forecast planned spending events. The functionalities are pretty similar to Mint but they go more in-depth in the execution.
Their array of tools actually guide you towards your goals rather than simply tracking them.Made by investors, for investorsUnlike Mint, they analyze your investments and can tell if you are on track.