If you’re looking for a budgeting app, Simplifi and Mint are two of the most popular options available. While both apps share some similarities, they have distinct differences that may sway your decision on which to use. Simplifi is a new budgeting app developed by Quicken with a user-friendly interface and personalized budget recommendations. Mint, on the other hand, has been available since 2006 and focuses more on tracking expenses and aiding users in staying on top of bills with over 20 million active users. In comparison, Simplifi has over 100,000 downloads on the Google Play Store and just over 1,200 reviews, though it has yet to be released for iOS users. Each app has its own unique features and pricing structures, making it essential to weigh the pros and cons of each before making a decision. In this article, we’ll take a closer look at the similarities and differences between Simplifi and Mint, to help you decide which is best for your budgeting needs.
Features and Functionality
Simplifi and Mint have similar core features that are integral to budget tracking: bill alerts, budget tracking, and overall account summaries. However, there are some differences in the additional functionality offered by each app.
Simplifi:
- Auto-categorization of expenses
- Investment tracking
- Customizable spending reports
- Personalized budget recommendations
Mint:
- Free credit score monitoring
- Account reconciliation
- Multi-factor authentication support
- Tracking of financial goals
While Mint offers more features than Simplifi, it may be overwhelming for some users, as they are not easy to navigate. Conversely, Simplifi’s clean interface and limited number of options make it easier to focus on essential budgeting tasks.
How is Simplifi different from Mint?
Simplifi and Mint are budgeting apps that can help users manage their finances. However, there are a few key differences between the two apps:
- Simplifi is designed specifically for people who want to simplify their finances and have all their financial information in one place, while Mint is more geared towards budgeting and tracking expenses.
- Simplifi is ad-free, while Mint shows users ads for credit cards and other financial products.
- Simplifi is a paid app, with a monthly or yearly subscription fee, while Mint is free to use.
Overall, Simplifi may be a better fit for those looking for a more streamlined and ad-free budgeting app, while Mint may be a better option for those looking for a free budgeting solution.
Pricing
When it comes to pricing, Simplifi and Mint have different structures. While Mint is entirely free to use, Simplifi has a tiered subscription plan. Here’s an overview of the costs:
| Plan | Price | Features |
|---|---|---|
| Mint | Free | Basic budget tracking features, bill reminders, account summaries |
| Simplifi Essential | $3.99/month or $39.99/year | Auto-categorization of expenses, investment tracking, mobile app |
| Simplifi Premium | $6.99/month or $69.99/year | Customizable spending reports, personalized budget recommendations, in-app bill payment |
While Simplifi’s pricing may be a concern for some consumers, it is an investment in a more personalized budgeting experience with features like investment tracking and personalized budget reporting.
It’s important to note that both Simplifi and Mint are budgeting apps that are easy and user-friendly to allow anyone to take control of their finances. The main difference being that Simplifi has a more personalized experience with the added investment tracking feature for those who want to take their budgeting to the next level. However, for those who are just starting to budget or want a simple and free option, Mint might be the way to go.
What is the difference between Mint and Simplifi?
Here are some key differences between these two personal finance management tools:
- Mint is a free online money management tool that provides a complete picture of your financial health. Simplifi, on the other hand, is a subscription-based tool that is focused on simplifying the process of managing your money.
- Mint has a larger range of features, including investment tracking and bill reminders, whereas Simplifi is more streamlined and user-friendly.
- Simplifi is designed to help users create and stick to a budget, while Mint has a broader focus on overall financial management.
- Both Mint and Simplifi are owned by Quicken, but Simplifi is the newer product, released in 2020, while Mint has been around since 2006.
Features
While both apps have similar basic features, there are some noticeable differences that set them apart. Here are some highlights of what you can expect from each app:
Simplifi features:
- Personalized budget recommendations based on your spending habits
- Auto-categorization of expenses to make tracking easier
- Investment tracking and management
- Spending reports that show you your expenses broken down by categories
- In-app bill payment
Mint features:
- Basic budget tracking features, with reminders to pay bills or renew subscriptions
- Account summaries, with customizable alerts when balances reach certain thresholds
- Credit score tracking and analysis
- Free access to Mint’s website and mobile app, with no hidden fees or costs
- The ability to sync with more than 17,000 financial institutions and credit cards
While both apps have similar basic features, Simplifi offers more personalized budgeting advice and investment tracking than Mint does. Mint, on the other hand, has more intuitive tracking options that can help people who are just starting with budgeting.
What’s the difference between Mint and Simplifi?
- Mint is a free budgeting app that allows users to track their spending and manage their finances in one place, while Simplifi is a paid budgeting app with more advanced features such as bill tracking, savings goals, and investment tracking.
- Mint is owned by Intuit and has been around since 2006, while Simplifi is owned by Quicken and was launched in 2020.
- Mint offers personalized financial advice and tips based on the user’s spending habits, while Simplifi has a feature that allows users to see the impact of their spending decisions on their overall finances.
- Mint is available as a web-based app and mobile app, while Simplifi is only available as a mobile app for iOS and Android devices.
User Interface
Both Simplifi and Mint have user interfaces that are easy to navigate, with intuitive design choices and features that are easy to understand. Here’s a breakdown of what you can expect from each app:
Simplifi interface:
- A simple interface that is easy to use and navigate
- Personalized budget recommendations that are easy to understand
- A color-coded interface that shows you at a glance how your budget is divided
- An investment tracker that shows you how your investments are performing
Mint interface:
- A clean, modern interface that is easy to use
- A dashboard view that summarizes all of your accounts and bills in one place
- A customizable interface that lets you choose what you want to see at a glance
- Color-coded spending categories that help you visualize your budget easily
When it comes to user interface, both apps have strong points. Simplifi’s personalized budget recommendations and investment tracker stand out, while Mint’s customizable dashboard view is a great feature for people who want to see a lot of information at once.
Is Simplifi or Mint better?
- Simplifi is a budgeting app developed by Quicken, and Mint is developed by Intuit.
- While both apps offer similar features like budget tracking and bill reminders, Simplifi puts more emphasis on simplifying financial management for busy people.
- Mint, on the other hand, offers a more comprehensive suite of financial tools, including investment tracking and credit score monitoring.
- The choice between Simplifi and Mint ultimately depends on personal preferences and financial goals.
- It’s recommended to try out both apps and see which one suits your needs better.
Customer Support
Customer support is an essential aspect of any app, and both Simplifi and Mint offer support to their users. Let’s take a closer look at their customer support options:
Simplifi support:
- 24/7 live chat support that is available to all users
- Phone support for paid users only
- A help center with articles and guides to help you solve common issues
Mint support:
- Support through a comprehensive help center with articles and guides
- A community forum where users can ask and answer questions
- Phone support for premium users only
Simplifi wins hands down in terms of customer support with its 24/7 live chat support that is available to all users. Mint’s phone support is only available to premium users, which can be frustrating if you encounter an issue that requires support. However, both apps have extensive help centers and community forums that can be helpful for solving common issues.
Is Simplifi better than Mint?
- Simplifi offers a more user-friendly interface compared to Mint.
- Mint offers more features such as investment tracking and bill reminders.
- Simplifi has lower subscription fees compared to Mint
- Mint is owned by Intuit which is a more established company.
Conclusion
Both Simplifi and Mint are great budgeting apps that offer features that can help you manage your finances effectively.
If you’re looking for a free and reliable budget tracker:
Mint is the perfect choice. It has been around for more than a decade, has a large user base, and can connect to almost every bank in the United States.
If you want a more personalized experience:
Simplifi is the better choice. Although it starts at $3.99 per month, it offers a more personalized budgeting experience with features like auto-categorization of expenses, investment tracking, and personalized suggestions for improving your budget.
Ultimately, the choice between Simplifi and Mint depends on what you’re looking for in a budgeting app. If you prioritize personalized budget recommendations, investment tracking, and live chat support, Simplifi is a better option. On the other hand, if you’re okay with basic budget tracking, bill alerts, and community support, Mint is an excellent choice.
