Quicken vs. Mint – Which is Best for Your Budget in 2019?

Today’s budgeting tools make managing your money easy. While some are free, others have so much more to offer if you’re willing to pay a small fee. Quicken and Mint are great examples. Let’s look at which one is best for your budget.

Quicken vs Mint 2019

In This Article

Quicken and Mint are two of the most popular budgeting software systems available. While they’re similar apps, each has its own specializations. And perhaps the biggest difference between the two is that while Quicken is a paid service, Mint is completely free.

Does that make Mint the better of the two systems? Not necessarily. Quicken offers more services than Mint, which may more than justify the fee you’re paying for the service.

Or not.

Let’s look at the two side-by-side–Quicken vs. Mint–and see how they stack up against each other.

What Quicken & Mint Both Offer

The basic features of both platforms are very similar. Each provides budgeting, enabling you to know how and where your money is being spent. They do this by enabling you to link your various financial accounts–bank accounts, loans, credit cards, investment accounts, etc.–and automatically importing transactions. This enables you to synchronize your entire financial life on one platform.

Each works on multi-devices. You can set up either account on your laptop, but also access it from your smartphone or other device.

Both also provide you with access to your credit score, as well as regular email or text updates, keeping you informed of the latest developments and trends in your finances.

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Quicken Features

Quicken’s main strength is that it’s one of the most comprehensive personal financial apps available. In fact, it covers the gamut of personal financial activities, minimizing dependence on other apps to provide supplemental services.

One of the major advantages Quicken provides is that your information is stored on your own computer, rather than on Quicken itself, or the cloud. Yes, storing data on the cloud is becoming more common. But being able store the information on your own computer eliminates the security risks associated with cloud storage.

Quicken has four separate packages available, each with its own services. Some of the major services offered include:

Quicken Bill Pay

Pay any bill directly from any checking account included on the platform. The service is available only on the Premier and Home & Business plans.

Track the Market Value of Your Home

Enter your home address, and Quicken will continually update the estimated market value of your home. Once again, this feature is available only on the Premier and Home & Business plans.

Quicken Investment Features

On the Premier and Home & Business plans you can:

  • Track loans, investments and retirement accounts
  • Evaluate your investments with Morningstar’s Portfolio X-ray tool
  • Compare buy-and-hold options with improved portfolio analysis
  • See how your returns compare to market averages
  • Track investment cost basis and create Schedule D tax reports
  • Make better buy/sell decisions with market comparisons

Business & Property Management Features

These are available only with the Home & Business edition, and include:

  • Categorize and separate personal and business expenses
  • Track your business profit loss and tax deductions
  • Run Schedules C and E reports to simplify tax time
  • Create and email custom invoices and estimates
  • Manage lease terms, rental rates and security deposits
  • Track outstanding and paid rents
  • Add payment links directly to invoices
  • Save rental documents directly to the app

Credit Score

Your credit score is provided by Equifax. The score provided is the VantageScore, and is not your actual FICO score (this is a common practice with free credit score providers). The negative to the service is that your score is only updated quarterly (most credit score services report on at least a monthly basis).

TurboTax Tie-in

You can export your Quicken data directly into TurboTax for tax preparation.

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Mint Features

Mint is an online personal finance app that brings all your financial information together on one platform. You link your various financial accounts to Mint, and each time you visit the site the information is automatically updated. It provides a snapshot of your financial information, including graphs and charts that offer visual presentations.

Features offered by Mint include:

Track Bills

Mint enables you to keep all your bills organized on the platform. That includes regular payments, like rent, utilities and loan payments, as well as variable expenses like paying the babysitter. The app will indicate both the due date and the payment amount. You can also get bill reminders, to let you know what’s due, how much and when. Bill reminders can be sent to your mobile phone.

The service also provides alerts letting you know when your funds are getting low, or if there is any unusual or suspicious activity in your accounts. The app will even let you know how much money you’re spending on fees, such as ATM fees.

Investment Tracking

Mint enables you to include taxable brokerage accounts, mutual funds, IRAs and 401(k) accounts. You can even compare your own account performances to various market benchmarks to see how well you’re doing. They also have a fee analyzer service, that displays fees being paid to investment advisors, brokerages and even 401(k) providers. They’ll identify the ones considered unnecessary, to maximize the return on your investment.

Credit Score Access

Mint provides your credit score from TransUnion. They will also provide you with information telling you how your score is calculated, and how you can improve it. You’ll get credit alerts whenever TransUnion receives new credit information from creditors.

Mint Find Savings

Through this feature, Mint enables you to find better deals on a wide variety of service providers. They can help you find better deals with bank accounts, credit cards, brokerages, retirement plans, insurance and loans.

Based on your financial situation, they’ll make recommendations of specific providers under each category. This enables you to compare the various offers available to you, allowing you to select the one that works best. The offers are quite extensive, giving you the widest possible choice of provider options.

Mint Dashboard

Budgeting

Quicken

Quicken offers budgeting on all four plans. You can create a budget to track your spending, categorize your expenses automatically, and easily export your data directly to Excel. All your bank and credit card accounts are available on the same platform.

The app sets up a realistic household budget, which is based on your spending history. You can customize spending goals, making it easier to pay bills, and plan for the future. The platform forecasts your balances, provides you with reminders to pay bills, and keeps you informed of how much money you have available in your accounts.

Mint

Mint bases budgeting on your average spending per category. This enables you to create a budget based on spending patterns. You can track your spending from month-to-month, or from year-to-year. They will automatically suggest a budget, based on your spending, but you can make adjustments along the way.

Mint provides default categories for your spending accounts, but you can rename them, or even recategorize them in ways that work best for you.

The platform allows you to plan for one-time expenses, as well as recurring monthly expenses. You can also do projections to see how much money you’ll save by cutting back on a particular spending category.

Budget Winner: Quicken for having more features like the ability to export data, bill pay reminders and balance forecasting.

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Synchronization

Quicken

Quicken synchronizes with more than 14,500 participating financial institutions. Account information automatically populates, but can also be entered manually.

Mint

Mint allows synchronization with linked financial accounts, but you can also enter the information manually. As a free service, it’s automatic synchronization is not always entirely effective.

Synchronization Winner: Quicken

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Pricing

Quicken

Quicken offers four different packages, each with its own pricing structure. The packages and pricing, as well as the specific features they offer are as follows:

Quicken Plans

Quicken also provides a 30-day money back guarantee if you are not satisfied with the product. You also have the option to change your plan at any time.

Mint

Mint is free to use, and it doesn’t offer various tiered plan levels. But in case you’re wondering how the site has gotten so popular without charging fees, there is an explanation. Much like Credit Karma, Mint makes its income from third-party vendor advertising on the site.

This takes place through the Find Savings service. If you sign up for one of the products or services offered on the site, Mint will receive a small fee for connecting you with the service provider. There is no additional charge to you by the service provider, so the entire Mint income process is completely invisible, and even irrelevant to the user.

Pricing Winner: Mint, because it’s hard to beat free!

Customer Service & Education

Quicken

Quicken offers live chat through an app called My Pure Cloud. They do not offer phone support.

They provide a FAQ page, Common Help Topics page (under the Learn & Support tab), as well as the Quicken Community, where users come to talk about app related issues. These pages can help you learn to optimize your use of the Quicken platform.

They also offer a Money Management Tips page, with personal finance related topics, including how to save money, how to stop living from paycheck-to-paycheck, teaching your children how to save and spend wisely, and much more.

Mint

Mint offers customer service through either email or live chat, which is available seven days a week, from 5:00 AM to 9:00 PM, Pacific time. “Mint Help” is also available with a limited number of topics, generally related to the operation of the platform.

Mint doesn’t offer the variety of educational resources that you can find on Quicken, but then it’s a completely free app to use.

Customer Service Winner: Mint

Security

Quicken

Quicken protects your information with the following processes:

  • 256-bit encryption
  • Integrity checks to ensure that a message received has not been altered after it leaves the sender
  • Firewall-protected servers in the Quicken data center
  • Password issued by your financial institution that you must enter each time you connect to the Internet
  • Option to password protect your data files
  • Information is transmitted using encrypted, secure socket layer (SSL) technology

Mint

Mint uses the following security measures to protect your information:

  • Multi-factor authentication, requiring special security questions or a code supplied either by email or text
  • Four digit code to view your information
  • Security screenings with VeriSign to ensure security for the transfer of sensitive data
  • Information in read-only fashion (Mint has no control over any of the accounts displayed in your app.)
  • Option to set up your account with TouchID

Security Winner: It’s a tie. It’s clear both Quicken and Mint value your security.

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Mobile Access

Quicken

Quicken’s mobile app is available for iPhone, iPad or Android devices. It is available at the App Store and Google Play. The mobile app offers all the features of the desktop version. You can use your mobile device to snap a picture of your receipts. The app provides alerts and notifications for account changes.

Mint

Mint Mobile is available for iPhone, iPad, Android mobile devices and Android tablets. The app can be downloaded at the App Store and Google Play. Mint is also available for Apple Watch.

Mobile Access Winner: It’s a tie, though Mint has better reviews. However, that could also be because Mint is a free platform.

Summary

At the core, both Quicken and Mint are budgeting apps. But it really comes down to the specific features each offers, and which you as a consumer are interested in having.

Quicken certainly offers more services, but you also have to pay an annual service charge in order to have them. Mint works well as a basic budgeting software plan, but it does lack certain basic features you might expect in that type of platform. Perhaps the most glaring absence is the bill pay feature, which ended in June 2018.

Bottom Line – Mint or Quicken?

If you’re looking for a free, no-frills budgeting app, Mint is the better of the two platforms. In fact, if it comes down between Mint and the Quicken Starter version–at $34.99–you’ll probably be better off going with Mint. Both are basic budgeting packages, and neither offers bill paying services.

If you’re looking for a personal financial platform that includes your investing activities, Mint is very limited in this regard, and will provide no more than basic services. Quicken Premier or Home & Business provide the Morningstar Portfolio X-ray tool, as well as improved portfolio analysis, and the ability to track cost basis and create Schedule D tax reports.

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If you need a platform for investment management and tracking, we suggest Personal Capital. The free version analyzes your financial situation and includes helpful tools like an investment check-up and a mobile app. You’ll even get a free consultation from a licensed financial advisor. Find out more in our Personal Capital review.

Quicken Premier’s home market value tracking feature is interesting, but the information comes from Zillow, which you can easily access without the app.

The business and property management features, available on Quicken’s Home & Business version is highly specialized for those who are self-employed, and particularly for investment property owners. If either applies to you, the $89.99 annual fee for the service is an excellent investment.

Quicken also has the advantage of deeper educational resources, as well as the ability to export financial information to TurboTax at tax time.

On balance, Quicken is the better of the two services by a wide margin, particularly on the premium versions. But if all you’re looking for is basic budgeting, and the other Quicken features don’t interest you, Mint will certainly get the job done for you, and will do it completely free.

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Topics: Money Management Tools

23 Responses to “Quicken vs. Mint – Which is Best for Your Budget in 2019?”

  1. Charles T. Alward

    I have been using an old version of Quicken which served me well to track my expenses. Then I got a new computer which did not transfer the program…though I did backup the file before the switch. If I buy a 2019 Quicken, will it recognize my backed up data. In other words, will I be able to make a seamless transition?

  2. MzDonnad

    I’ve also been a 20 plus year user of Quicken. However, the downloads from my financial places has issues. Always having to do balance adjustments when reconciling an account. Never have a found the “difference” comparing bank statement to Quicken’s download, but continually having to do the balance adjustments to match bank. Something terribly wrong.
    Also don’t want my information on the cloud if using Mint, but starting to look like Mint is the way to go in the future. So, bye bye Quicken.

    • I’m having the exact same problem. I keep having to adjust my balances (and they’re WAY different from what the bank is saying) and I have not figured out what is not being transmitted ….I too am looking at Mint.

      • quicken user since forever

        A number of banks have no issues (e.g. Bank of America); others like Citizens Bank seem to have issues with transactions being entered in 2x in Quicken and other issues that create the need to do adjustment entries; which is problematic because it means any report is useless

  3. I used Quicken for over 20 years, and have finally given it up. A few notes…. First, ihe second to last version I was using was the Canadian Home and Business 2016 edition. Well, I got the email that connection to a bank was being sunsetted. GREAT. Force your customers to pay more. STRIKE ONE. So I upgraded to the 2019 edition, and immediately found some serious bugs. In my investment accounts, I have with my broker one account that has a CAD$ portion and a USD portion. I had accepted the fact that although Quicken says they are multi currency, they never calculated the exchange for Net Worth purposes in the left pane. No big deal, I created an account called exchange difference, and every now and then would change the exchange rate, Not accurate, but close enough. One of my investments was not with a bank, but with an investment firm, so every month I had to key in every transaction (over 40 per month each for 4 accounts) STRIKE TWO.
    HOWEVER when one of those statements came in with a new security in the USD portion (funny enough, that security was called “Intuit”), I was unable to add it. I kept getting the message that I had to keep it in the currency of the account, eve though t was already in USD. After numerous calls to Quicken, where the screen the support rep was describing was not the same as mine, even though he knew I was using the Canadian edition, I learned that the multi-currency “function” had been removed. Well at that point, I asked for a refund. I commend them for doing it for a product I had been using for 3 months, but I proved it just doesn’t work. I would bet that 95% of Canadians with investment accounts have a portion in USD. So all that said, QUICKEN 2019 is useless, at least for Canadians with Investment accounts. After using it for about 20 years, I was no longer a customer.
    After a quick search, I found MINT. I LOVE IT!. Ramp-up was quick, every thing gets downloaded from every source and in the right currency.. No more keying in, great budgets, and access to every transaction. I never used Quicken to print checks or tax forms, or any of the other higher functions, so what MINT does it does great. Furthermore, support is a chat or phone call away. And to top it off, I was shocked to discover it was free. The fact that Intuit owns it says a lot for me.
    My only reservation that still swirls in my head is the non-protected access to my bank. I have to assume that Intuit (who use the same tech as the banks) are well protected, but if they put their guarantee in the form of an insurance policy, I would feel a whole lot better.
    FINAL WORD – Drop QUICKEN – GO mint

  4. Phyllis

    I’ve used Quicken for years, and I will stay with it for one important reason: the ability to forecast account balances. For those whose resources are limited, knowing how a particular payment or purchase will affect your budget as long as 12 months in the future is extremely valuable.

  5. Oh, duh. Intuit doesn’t own Quicken anymore. Hmm. So, if Intuit doesn’t have to worry about their products competing with each other anymore, why the heck does Mint make it so difficult for me to extract my tax information? I guess I should incorporate myself and buy QuickBooks? Ha!

  6. I switched from Quicken to Mint 4-5 years ago. Mint is very nice except one massive limitation – I cannot search transactions by date range. This hurts in two cases: when doing taxes, I cannot get a list of expenses for a category for the tax year. I can search by category, but since I can’t limit by date I end up having to manual add up the values for a total. This also limits the ability to investigate my expenses. The budgeting thing sort of works, but if I want to look at my data in any way other than how Mint has decided are the few ways I’m allowed to look at it, I just can’t.

    I was thinking of switching back to Quicken from Mint due the severe searching and filtering limitations, but I hugely disappointed to read here they are going to a SAS model. Yo, Intuit – you’re supposed to help me manage my money, not grab handfuls of it!

    • Barry Smith

      Did you see this?
      How can I view transactions within a specific date range?
      By design, Mint does not have a way to filter the transactions by date range on the Transactions page. This page will only allow you to search by Description and Category. However, there is a workaround you can try that should get you the desired results.

      When you go to the Transaction page, the URL will be displayed as: https://mint.intuit.com/transaction.event
      If you add the following (with the date range you’d like to see) at the end of the URL above,

      it should pull transactions for that specific range: ?startDate=05/01/2016&endDate=07/31/2016

      For example, you would like to see transactions from May 01, 2016 to July 31, 2016 only, then the URL should look like this: https://mint.intuit.com/transaction.event?startDate=05/01/2016&endDate=07/31/2016

      After that, as with any view in Transactions, you can then Export the list if you wish.

      ADDITION FOR CHROME USERS:
      Though not from Mint, there is a Chrome extension that will allow you to select a Transaction date range.

  7. Donna Pittman

    Two questions: It sounds like Quicken 2016 will continue to work if you enter your transactions yourself rather than downloading? I don’t download anyway….always enter myself. Next question is will 2016 continue to word the way I am using it?
    thx

  8. Sandra Vincent

    Quicken software has been a 3 yr software for a long time. Once you hit the 3 yrs then your not able to download or use some of the features anymore. People who have Quicken 2016 are getting notices now. Quicken 2017 will be good for 1 more year. 2018 started the yearly subscription. It is now a yearly subscription based fee which will allow you to continue to download transactions. I’ve been with Quicken from the beginning of the software and now looking for something else. Not willing to pay the price for only 1 year vs 3 years that it used to be. I’ve been using the Home and Business so it is more expensive and the cost vs value is not there. You will still be able to use your older version of Quicken–just have to manually enter the transactions.

  9. I used Quicken for 8 years and in the last 3-4 I had some serious problems with it (usually bank connection issues and corrupted categories). I kept looking for an alternative and never realized personal capital and Mint were both out there as alternatives. In January ’19 I switched over to Mint. I was worried, at first, that something really important would be missing, but so far I haven’t found that. The biggest problems I have with Mint is they let you create new subcategories, but not delete existing categories/subcategories. They also don’t allow you to create new top-level categories, which is silly, but I’m dealing with it. For example, I wanted to make a Business category, but you literally can’t. They provide a “Business Services” category so I’ve been using that, but again it’s a strange limitation of the product.

    Overall, I’m not planning to go back to Quicken. I’m sure it will be around for a while yet, but they definitely don’t take care of maintaining the product. I’ve had so many stupid connection/reconnection issues over the years and wasted a ton of time. They never seemed to bother to fix them either. I could only explain it that they just want the $, but don’t want to provide fixes to their product. To clarify, they definitely had me as a customer for life if they just kept their product maintained properly. They forced me elsewhere by all the issues I ran into in the last few years. Especially when they didn’t bother to fix them for multiple updates.

    PS –
    I also setup Personal Capital to use with investment, but it doesn’t allow budgeting so that’s why I’m using Mint.
    PPS – I wish Mint would have a paid option. I have no problem paying a little money and get rid of the ads, but they aren’t that big of a deal, I guess.

  10. I got the same notice from Quicken about discontinuing some support aspects. I’ve been wanting to BUY a new product for a couple of years now as I don’t RENT software. I currently have Quicken Deluxe 2016 and would upgrade it if they SOLD the product. I don’t use the “cloud”, don’t use autopay except for a couple of obligations, car loan (fixed), mortgage (also fixed), but all other obligations I review (online if possible) and approve payment. I still have to write a check from time to time (3-5 a month). I want two features backup to my computer (no cloud) I back to external source store same offsite, would want to print those few checks. So simply I want #1 store info on my computer, #2 be able to print checks as needed. Anything out there?

    • DonnDon

      I am unhappy w/ quicken new business model too. Ive been using it since DOS days! I must point out that you have never purchased SOFTWARE program-we purchase only a license to use and the companies are not responsible in any way shape or form. This is not only quicken but ALL software except (open source that is.) Windows will very soon be a “service” not a free standing OS. Win10 is evidence of this!

  11. Robert Miller

    I loved your Mint vs. Quicken review. Bottom line was the last from RT Hawkins. If this is correct and Quicken disconnects all financial institutions, this will be a game changer for me. I’m now taking a serious look a Mint.

    • I received the same notice, and to clarify, they are only discontinuing the ability to download transactions. That’s not by any means a defense of the action, it just means to keep that feature they are forcing folks to upgrade. I’m reading this article for the same reason a lot of folks are: I’ve been a Quicken customer for 20+ years I don’t appreciate the strong arm tactics forcing me to upgrade when I don’t need any new features.

  12. RT Hawkins

    I’m a Quicken subscriber. I just received a notice from Quicken that they will discontinue support of connected services as of 30 Apr 2019 – no more downloading of financial transaction data from my financial institutions. As I read it, this means Quicken will no longer work for me, and probably many others. Thank you for your review. I will look into using Mint instead.

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