This means your information then becomes out of date, and you can’t see that month’s income or expenses until you redo your account linking. When it comes to investing, Personal Capital is the clear best choice. Personal Capital advisors work with you to put your funds into one of a handful of pre-designed ETF portfolios. In recent years, online investment platforms have become extremely popular. Both Mint and Personal Capital are right more than they’re wrong, but each month without fail both have uncategorized and miscategorized transactions. Mint’s budget tool shows you exactly where you’re spending your money. However, its staff has reached out to me proactively to discuss my needs for its investment service. I have saved over $300 per year in mutual funds fees thanks to the data from my Personal Capital account. When comparing Personal Capital vs. Betterment for fees and minimum investment amounts, Betterment is the clearly more affordable choice. On the other hand, Personal Capital offers thorough tools for everything from retirement planning to estimating your portfolio balance in 20 years’ time. For this Personal Capital vs Mint comparison, we’re focusing on Personal Capital’s free tools, since Mint is also a free service. Betterment vs. Even though Personal Capital also has an alerts system for upcoming bills, Mint does a better job of reminding you when each one is due. Since they’re regularly managing high net worth clients and those clients’ money, they have a ton of great infrastructure already in place to help you through any issues. It also provides up-to-date portfolio values, and tracks cost basis and capital gains. Betterment is an online financial advisor that makes investing easy by creating a portfolio just for you, based on your preferences and financial goals. In short, both are great for making managing finances simpler. Luckily, they operate around the clock, and I’ve not yet had a question that wasn’t answered in up to 12 hours. Both offer a free option to track your account balances, transactions, investments, and more with convenient dashboards offering you a quick summary of your finances at a glance. One of the core benefits of using a program like Mint or Personal Capital is the ability to view all of your account balances in one place with one login. The offers that appear on this site are from affiliate sales networks, and TheFinanceTwins.com receives compensation for sending traffic to partner sites, such as CreditCards.com. Betterment vs Personal Capital. Mint also provides extremely accurate information about when your next bills are due. Even if someone gains access to your account, Mint won’t let them transfer money out of your account from within. It does handle investment man… I have found new mobile only app Penny does a better job, though it does so with a simpler category system. Mint is best used as a budgeting tool. Personal Capital (see our review) targets the investment mid-range — this includes primarily investors with a net worth of between $25,000 and $2 million in liquid assets.It is an investment platform in much the same way as Wealthfront, but with vastly different features. Even without the paid features, Personal Capital does a great job of analyzing your investments, showing you graphically how you might want to make changes and where you are losing the most to fees. By letting you see your bank accounts at once, it’s easier to track your financial goals across all your accounts. Primarily by recommending ways to save on loans, investments, insurance, and credit cards. Quicken.Quicken's Starter Edition does not include investing, but it's Premier Edition does. Similarly, if you’re looking for an easier way to keep track of your bills and avoid late payments, Mint’s bill alerts system can be a lifesaver. Both Personal Capital and Mint have areas in which they excel. If you are simply looking for an easy way to track your net worth and track your progress toward financial goals, then a free Personal Capital account is the perfect tool. In the decade I’ve been using Mint, I have had countless errors and problems. You also get free access information to help educate yourself on different financial topics. Both of these apps have over a decade of growth under their belt, and they have the features to prove it. I Have Every Dollar I've Earned In My 10 Year Career, How To Get Rich Without A Fancy 6 Figure Job. Our Personal Capital vs Mint comparison highlights where each service shines, helping you choose the best tool for your individual needs. They operate as both an online alternative to traditional financial advisors and as providers of tools and information to do a base-level analysis of your financial situation. Personal Capital vs Betterment. Personal Capital Vs. Mint – How Do They Make Money. You can also subscribe without commenting. This makes Personal Capital more difficult to effectively use to fix your habits since you can’t tell it how you want to spend your money. Mint’s focus is on giving you a more complete overview of your financial situation. However, this compensation does not influence the reviews that you can find on this site. With both Personal Capital and Betterment, you can connect outside accounts to get a more complete picture of your finances and better plan for your financial goals accordingly. This is an incredibly useful tool for policing your spending and building up better financial habits in the long term. Founded in 2009, Personal Capital not only keeps tabs on your accounts but also analyzes your investments and makes sure you're on track for retirement. He left the investment banking world in 2015 to become a full-time investor. For example, only Mint has a credit score monitor, while only Personal Capital has thorough investment planning. Some of the offers and recommendations that appear on this website are from companies that compensate us. How does it compare to Betterment? Now when I find bugs and errors there appears to be no desire to fix them, they just offer inconvenient workarounds with no real effort to solve the root problem (which is probably affecting many other users as well). Personal Capital is both a free service for tracking net worth as well as an optional paid financial advisor service, which is how it makes money. Each is solid and stable, popular and highly rated. It uses a combination of human advisors and a technology-driven investment platform. If you specifically need help with budgeting, Mint is best. Mint’s only tool to help you with investing is a basic tracker that shows your portfolio’s balance over a certain period of time. Personal Capital Vs. Mint – Which Should You Pick? To the untrained eye, Betterment looks like the better investment platform by default.After all, it … Betterment is similar to an investment company, while Personal Capital provides an overview of a user’s complete financial picture. Here at TFT, we think it’s vital for you to understand how companies, especially those that claim to offer free services, earn their money. Mint also lets you set specific spending limits for each category. >> Compare M1 Finance Vs Betterment. A quick Google search for “best budgeting methods” will net you over 32 millionresults—so where should you start? Personal Capital’s customer support works mostly via email. That includes investments, savings, checking, credit cards and other loan accounts. Read on to learn which may be better for your needs in the Mint vs Personal Capital competition. If you have general personal finance management needs, Personal Capital does a fine job handling it. This is due to how these platforms consolidate various investment and financial services in a single website or mobile application, making it … Personal Capital has been much more consistent and needs far fewer manual updates and corrections to keep my data flowing in correctly. Since I’m talking about Personal Capital vs. Mint, I’m going to focus on the free version of PC, which has a lot to offer. Personal Capital vs Betterment: Special features. If you need help with investments, Personal Capital is far superior. You can use this as a guide for how to use each service to its fullest potential. ADVERTISING DISCLOSURE: TheFinanceTwins.com is an independent advertising-supported site. They group your monthly expenses by category, including ones like “Restaurants,” “Credit Card Payment,” and “Shopping.”. The financial tools Personal Capital offers are some of the best available which has gained it a dedicated following and widespread attention in the financial world. For linking several bank accounts to a single service, Personal Capital has a pretty big advantage over Mint. After using Mint for the last two years, I’ve found they do a pretty good job correctly identifying the expense category. Since Mint is, first and foremost, a tool for budgeting, it should come as no surprise that they beat out Personal Capital when it comes to helping you build and manage a budget. I’ve also done a more detailed review of Personal Capital, if you’d rather read that.Personal Capital is a financial aggregator, which is to say that you can have all of your financial accounts on one platform. Personal Capital makes it really easy to find a person to help, unlike Mint, but sometimes the assistants can get a little too pushy trying to schedule a call with an investment advisor if you have more than $100,000 in investable assets in your account. High-Yield Savings Accounts, Personal Capital Vs. Mint – A Broad Overview, Personal Capital Vs. Mint – Pros And Cons. Compare this to Personal Capital, which links each of your accounts in 1-2 minutes. When Mint was a brand new startup, I knew I could email Stephen or one of the other customer service representatives to get my issue resolved, if not turned into a suggestion that was sent on to engineering. Ultimately, the ads are pretty easy to ignore and don’t put a major damper on the end-user experience. Budgeting. Mint earns its revenue mostly by partnering with third-party financial services. Personal Capital vs. Mint: Customer Service. Mint can help you save money. So, even if someone was able to get into your account, your money should be safe. But, it’s important to be aware that Mint has them on their platform. All content on the site is prepared by our staff or by independent contractors. TheFinanceTwins.com does not include all financial companies or offers available. Is Mint better than Personal Capital, or is it the other way around? If you specifically need help with budgeting, Mint is best. Unless you have at least $100,000 to invest through Personal Capital, you will have to find a different robo-advisor, such as Betterment. When we compare like Personal Capital vs. Mint, they both help you invest and manage your wealth. It charges less than most traditional advisors. Mint offers a basic investment tracking page, but I have found errors in the past, for example when I stock I owned split and the cost basis was shown completely inaccurately. Personal Capital is a wealth management service with useful tools for free users. Personal Capital as well as Mint seem to have easy customer service access. While Personal Capital also has a tool to track your spending, you can’t set limits for specific categories. Personal Capital vs. Mint: The Verdict. Personal Capital offers two services, a paid version that acts more like a robo-advisor for clients with over $200K in investment assets and a free one that can be used by anyone. Quicken also helps minimi… It’s a solid choice for those new to investing. Personal Capital Like Mint, Personal Capital goes one step beyond just being a standard budgeting app and provides smart ways to manage your entire financial strategy. Personal Capital is a free advanced tools plus hybrid advisory service for people with over $100k in investments. He has spent much of his life working to increase financial literacy in his surrounding communities through independent financial research and curricula design, and he is currently studying economics with a secondary in music. The truth is, both of them offer great services and powerful features. Mint’s layout is a little more intuitive, but the app is constantly riddled with connection errors, bugs, duplicate accounts, and other issues. But which one should you use? That edition provides features like their Portfolio X-Ray, showing performance vs. the market of your investments, and help with buy/sell decisions. https://dyernews.com/mint-vs-personal-capital/ Are you looking for the right personal finance app and debating between Mint and Personal Capital? The fee ranges from 0.89% to 0.49%, depending on how much is in your account. Read our Advertising Disclosure. Betterment offers automatic investing starting at an annual fee of 0.25% of your account balance. Mint, on the other hand, offers a strong budgeting feature and automatically categorizes transactions in each budget category. So, let’s talk about where each can outperform the other to get a feel for their relative strengths and weaknesses. We will focus on the follo… For example, only Mint has a credit score monitor, while only Personal Capital has thorough investment planning. For dealing with budgets and spending, Mint is the stronger app. Betterment and Personal Capital are both digital investment platforms, but they aim to serve different types of clients.. However, Personal Capital lists a number to call while Mint either doesn’t or makes it so hard to find I never noticed it. Read our comparison chart below. Check it out! Personal Capital vs Mint: What can Mint do for you that Personal Capital can’t? Our goal is to help you make wiser financial decisions by providing you with personal stories, objective research & data, financial calculators, and interactive comparison tools. Set-it-and-forget-it is a fair description for what it feels like to invest using Betterment, Wealthfront or Personal Capital. We love questions, comments, and suggestions! Since we essentially have to cover two services in this article, we’re going to do summary reviews of each platform. For the budgeting tools at Mint and cash flow summary in Personal Capital, the two apps attempt to automatically categorize and display every account’s transactions. Any estimates based on past performance do not guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. So, if someone happens to get a hold of your account details, you’re still safe. Personal Capital. Although a pen and paper budget will do just fine in a pinch, there are now many electronic financial management options available with advanced features, investment options, and more. Personal Capital vs. Mint - I created accounts with both money apps to help you decide whether Personal Capital or Mint is right for you. My results since Intuit purchased the company in 2009 have been worse and worse. Here's Why You Need To Have Multiple Streams Of Income, How To Live Your Dream Life Through Mini-Retirement, How A Million Dollars Bought Me Happiness. Lucas is a personal finance expert, an undergraduate student at Harvard University and the founder of the Personal Finance and Consulting Group at Harvard College (an officially recognized student organization). Mint’s system will then update and remember to categorize the expense accordingly going forward. Note that we do not include the entire universe of financial products or companies that may be available. They are an entirely free service that offers tools for budgeting, as well as reminders for upcoming bills and a credit score tracker. Personal Capital, on the other hand, has given me very few reasons to interact with support. Personal Capital’s focus leans more heavily toward investing. Since both services are free to use, it makes it much easier to compare. They’re each best at slightly different things. Close. If you’re looking for simple but effective budgeting software or you’re learning to pay more attention to your financial habits, Mint may be your best bet. If you are simply looking for an easy way to track your net worth and track your progress toward financial goals, a free Personal Capital account is the perfect tool. Betterment is an investment outfit, unlike mint and personal capital. With so many options available it can be difficult to find the platform that best fits your needs. Personal Capital: Investment performance conclusion The three wealth managers all came within 1% of each other over the five year period for average annualized returns. Mint does a similarly great job at protecting your banking information. But, when push comes to shove, Mint offers a better interface for transactions and much better tools to review them and that gives it a little edge up. Each has its own unique strengths and weaknesses. 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