Mint vs Personal Capital

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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Ditchwitch
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Mint vs Personal Capital

Post by Ditchwitch » Thu Jan 18, 2018 4:48 pm

I started using both apps side by side and am mostly impressed...I prefer Mint a bit over personal capital, probably also b/c I want to use it mostly for tracking and budgeting daily expenses. Seems Personal Capital has a bit more to offer on the investment/portfolio analysis side. In fact, I received an invite to do a consult to go over my goals, investments etc. I am more the self-directed type as probably most here but just wondering whether there were other users of one or the other and what their experiences had been.... :happy
“Anyone who has never made a mistake has never tried anything new.” | ― Albert Einstein

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Edie
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Re: Mint vs Personal Capital

Post by Edie » Thu Jan 18, 2018 5:06 pm

I use both. I prefer Mint for their budgeting/tracking abilities (it is a serious pain to change categories in Personal Capital, even with the improvement to include custom categories), and Personal Capital for investment tracking (you can add tickers or cusips to your investments, if not automatically identified, which Mint has no capability for) as it has a much better asset allocation view. I also like PC's goal setting capabilities much more than Mint's.

tesuzuki2002
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Re: Mint vs Personal Capital

Post by tesuzuki2002 » Thu Jan 18, 2018 5:09 pm

Ditchwitch wrote:
Thu Jan 18, 2018 4:48 pm
I started using both apps side by side and am mostly impressed...I prefer Mint a bit over personal capital, probably also b/c I want to use it mostly for tracking and budgeting daily expenses. Seems Personal Capital has a bit more to offer on the investment/portfolio analysis side. In fact, I received an invite to do a consult to go over my goals, investments etc. I am more the self-directed type as probably most here but just wondering whether there were other users of one or the other and what their experiences had been.... :happy
They are mostly similar.. I have issues with some accounts and it goes both ways.. Some things Mint can't access and some things PC can't access.

student
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Re: Mint vs Personal Capital

Post by student » Thu Jan 18, 2018 5:15 pm

I use Personal Capital. I think Mint is better for budgeting and tracking expenses, whereas Personal Capital is better for tracking investment.

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Ditchwitch
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Re: Mint vs Personal Capital

Post by Ditchwitch » Thu Jan 18, 2018 5:16 pm

I linked up all my brokerage, checking and credit card accounts....in Mint I had to do a bit of editing to get category assignments better aligned but for the most part that went well...

One issue I had was that it only imported data from the last 3 months. Is it possible to go further back?

The apps do a free credit check and Zillow appraised my home ...that was a nice feature...also both apps show I am in the two comma club... :sharebeer

How safe do folks consider linking all banking and credit card accounts?

Has anyone done PC's free financial consults over the phone interviews and has anything good to say about that?
“Anyone who has never made a mistake has never tried anything new.” | ― Albert Einstein

dcdowden
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Re: Mint vs Personal Capital

Post by dcdowden » Thu Jan 18, 2018 5:55 pm

I have used both, but I have dropped using Mint because it tended to have more problems maintaining links with various investment accounts than PC. I agree that it seemed like Mint was better than PC for budgeting purposes, but I like PC better for monitoring investments and for their retirement planning analysis as well. I do get regular calls from PC wanting to set up a meeting with an adviser who will want to sell me on having them manage my investments for a significant fee, but I just say no thanks - I am a committed do it yourself investor.

3feetpete
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Re: Mint vs Personal Capital

Post by 3feetpete » Thu Jan 18, 2018 7:22 pm

I like Mint for tracking income and outgo but don’t have my investment accounts linked. With only checking and credit cards linked the damage is minimized if Mint is hacked. I use Vanguard to track both my Vanguard accounts and other accounts. My other accounts aren’t linked to Vanguard so I manually input them but they are auto updated for pricing changes and Vanguard includes them in portfolio analysis Once a quarter I have to update them for dividends and reinvestments. Takes ten minutes

seawolf21
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Re: Mint vs Personal Capital

Post by seawolf21 » Thu Jan 18, 2018 7:38 pm

Deja vu. I feel like we had this discussion before.....

mortalsonofmortal
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Re: Mint vs Personal Capital

Post by mortalsonofmortal » Thu Jan 18, 2018 7:49 pm

I have used both but using PC more these days because i like the layout. Had trouble hooking up some accounts to PC like Robinhood and Coinbase.

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birdog
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Re: Mint vs Personal Capital

Post by birdog » Fri Jan 19, 2018 7:36 am

I use personal capital only. I like that I can track my total portfolio, monitor net worth, track spending, evaluate asset allocation and plan retirement spending and cash flow all at one place.

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ChowYunPhat
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Re: Mint vs Personal Capital

Post by ChowYunPhat » Fri Jan 19, 2018 7:43 am

I have used both apps and prefer Mint for budgeting and PC for pretty much everything else. Over time, I was spending too much time on the apps so had to cut one, and decided to stop using Mint. PC works great for most of what I want to do, and I can drill into transactions more easily although the budgeting tools are not as flexible.

Agree with the other posters that PC seems to have fewer bugs these days, and the interface is a bit cleaner. I worry a little about security with the stored passwords but that is a tradeoff of having a free tool.
A wise man and his money are friends forever...

jayk238
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Re: Mint vs Personal Capital

Post by jayk238 » Fri Jan 19, 2018 7:44 am

How good is security for either?

thx1138
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Re: Mint vs Personal Capital

Post by thx1138 » Fri Jan 19, 2018 7:57 am

I find closely watching spending is a net positive thing to do. Takes time but produces beneficial results.

I find closely watching investments is a net negative thing to do. Takes time and at best with good discipline does no harm while at worst is a significant cause of negative results. As we say, "Don't do something, just stand there!" is the best starting point for investing.

With that in mind I find Mint useful as it is centered around expense tracking - a good thing to do. It is relatively poor at investment tracking and I don't even link those accounts since daily investment tracking is of no utility.

For investment tracking I have a spreadsheet. I update it annually manually when I check for rebalancing. I don't need to see investment balances more frequently than that.

BogleMelon
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Re: Mint vs Personal Capital

Post by BogleMelon » Fri Jan 19, 2018 8:02 am

I tried Mint for about 6 months and was so frustrated with so many issues. I then tried Ynab is for budgeting and tracking networth, I never looked back.
Personal capital may be good for x-ray the portfolio
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

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Cycle
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Re: Mint vs Personal Capital

Post by Cycle » Fri Jan 19, 2018 8:14 am

Currently only using personal capital. One of my accounts I need to enter manually due to syncing problems.

I wish personal capital didn't advertise net worth right on top or that there was a way to hide it. Often I check my transactions in public places.
Never look back unless you are planning to go that way

student
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Re: Mint vs Personal Capital

Post by student » Fri Jan 19, 2018 8:41 am

jayk238 wrote:
Fri Jan 19, 2018 7:44 am
How good is security for either?
They use industry standard but I still do not trust them. I entered mine manually.

KATNYC
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Re: Mint vs Personal Capital

Post by KATNYC » Fri Jan 19, 2018 9:10 am

We used Mint for well over a year but it was not really helpful since there was no active budgeting, just looking overspending after the fact. We use YNAB, have for about 2 years.

We use Personal Capital off and on. 401K uses CITs not mutual funds so we had to find comparable tickers to make Personal Capital useful.

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Ditchwitch
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Re: Mint vs Personal Capital

Post by Ditchwitch » Fri Jan 19, 2018 9:29 am

thx1138 wrote:
Fri Jan 19, 2018 7:57 am
I find closely watching spending is a net positive thing to do. Takes time but produces beneficial results.

I find closely watching investments is a net negative thing to do. Takes time and at best with good discipline does no harm while at worst is a significant cause of negative results. As we say, "Don't do something, just stand there!" is the best starting point for investing.

With that in mind I find Mint useful as it is centered around expense tracking - a good thing to do. It is relatively poor at investment tracking and I don't even link those accounts since daily investment tracking is of no utility.

For investment tracking I have a spreadsheet. I update it annually manually when I check for rebalancing. I don't need to see investment balances more frequently than that.
I have had some similar thoughts...and would like to avoid using 2 apps side by side. For the most part expense tracking would provide some means of accountability while investment updates can become a distraction. Fidelity access offers some portofolio analysis retirement planning tools and I use Morningstar to analyze funds etc.....

YNAB looks nice but they charge a monthly $6.99 fee??
“Anyone who has never made a mistake has never tried anything new.” | ― Albert Einstein

KATNYC
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Re: Mint vs Personal Capital

Post by KATNYC » Fri Jan 19, 2018 6:25 pm

Ditchwitch wrote:
Fri Jan 19, 2018 9:29 am
thx1138 wrote:
Fri Jan 19, 2018 7:57 am
I find closely watching spending is a net positive thing to do. Takes time but produces beneficial results.

I find closely watching investments is a net negative thing to do. Takes time and at best with good discipline does no harm while at worst is a significant cause of negative results. As we say, "Don't do something, just stand there!" is the best starting point for investing.

With that in mind I find Mint useful as it is centered around expense tracking - a good thing to do. It is relatively poor at investment tracking and I don't even link those accounts since daily investment tracking is of no utility.

For investment tracking I have a spreadsheet. I update it annually manually when I check for rebalancing. I don't need to see investment balances more frequently than that.
I have had some similar thoughts...and would like to avoid using 2 apps side by side. For the most part expense tracking would provide some means of accountability while investment updates can become a distraction. Fidelity access offers some portofolio analysis retirement planning tools and I use Morningstar to analyze funds etc.....

YNAB looks nice but they charge a monthly $6.99 fee??
YNAB offers a free trial & 100% money back guarantee. The monthly fee has paid for itself many times over the 2 years we used it to see the frivolous spending habits, see how much further we are now because of YNAB. We budget for the subscription fee so we don't have any negative feelings about the cost.

StlJohn
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Re: Mint vs Personal Capital

Post by StlJohn » Tue Feb 20, 2018 9:24 pm

Re security, here is my experience with Personal Capital over the last 14 months. My greatest concern is their apparent failure to protect my login credentials. In short:

> On 2016-12-12, I removed my credit union from the Personal Capital system because failed attempts by Personal Capital/Yodlee caused me to be locked out of my credit union account. Yes, 14 months ago in 2016.

> On 2016-12-15, Yodlee kept trying to access my credit union, I contacted Personal Capital and the logon attempts ceased.

> On 2018-02-15, FOURTEEN MONTHS after I deleted the account from Personal Capital, Yodlee again attempted to logon to my credit union. My credit union logs showed the attempt came from a Yodlee IP address.

> On or about 2018-02-18, after nightmarish attempts to get through to Personal Capital or Yodlee personnel who gave a damn--without my request or permission--Personal Capital deleted my ability to logon to their system. The last communication from them was from James, Feb 16, 5:53 PM PST:

"Hello John,
We have double checked all our databases and did not find any trace of those accounts outside of logs showing the deletion of the accounts with xxxxx Credit Union and we are following up with our aggregation partner, Yodlee to obtain an explanation. "

That is it. I was hoping to get assurance that Yodlee has made sure my credentials and all my financial information was removed. It looks like that is not happening since they deleted my personal capital logon ability.

User beware. This whole event calls into question the privacy of all of your financial information--any user IDs and passwords you may have shared with Personal Capital may not be protected.

I have all the emails and screen shots for anyone who is interested.

captpete
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Re: Mint vs Personal Capital

Post by captpete » Sat Jan 12, 2019 10:34 am

Hello,

I have been going over our 2018 financial picture and am having some difficulty in keeping track as to where everything went. We don't keep a budget we just make as much as we can and live frugally and that has worked out so far but now with the various accounts, checking, cc and investments and taxes.

What I really want to do is track money in and money out with totals for the year.

Which would be better for doing this?

Thanks

nanosour
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Re: Mint vs Personal Capital

Post by nanosour » Sat Jan 12, 2019 11:30 am

The name escapes me, but I have that disease where one obsessively tracks their personal finances on a daily basis. Been using Mint since 2011 and have tried PC multiple times over that period, but dropped PC each time within 2 months. Mint does a much better job of tracking monthly budget items and imports all my financial accounts for an accurate daily net worth. I also use Quicken for Mac for accurate investment tracking.

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birdog
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Re: Mint vs Personal Capital

Post by birdog » Sat Jan 12, 2019 3:16 pm

nanosour wrote:
Sat Jan 12, 2019 11:30 am
The name escapes me, but I have that disease where one obsessively tracks their personal finances on a daily basis. Been using Mint since 2011 and have tried PC multiple times over that period, but dropped PC each time within 2 months. Mint does a much better job of tracking monthly budget items and imports all my financial accounts for an accurate daily net worth. I also use Quicken for Mac for accurate investment tracking.
I use PC but have not tried Mint. What are your issues with PC? In what specific ways is Mint better?

StackOfOnes
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Re: Mint vs Personal Capital

Post by StackOfOnes » Sat Jan 12, 2019 4:25 pm

It seems pretty clear the split is PC for investments/net worth tracking and Mint is for daily spending and budgeting.

I agree with this split as well ,having used both for over a year and being an early adopter at PC.

I will say, conclusively in my experience, that PC is the best account aggregator out there. 401k, 403b, HSA, TIAA-Cref annuities based 403b, IRA, roth IRA, 529, student loans etc. We've thrown everything at it and it's the first site that can really give you the global view if you have a lot of accounts spread out. And a lot of the accounts are weird state sponsored or academic plans, which are never very facile to use.

Their retirement calculator is also very robust, even letting you pick a specific college and then auto inputting projected costs for the years your children will be in school. Funny to look up your alma mater but more useful for in-state vs private comparisons for 529 planning.

I do pay them to manage a very small portion of my after tax portfolio, but I got in when they would still do individual stocks for your entire portfolio. Now they have raised that minimum significantly and do etfs for accounts below 250K. I do this for this insight on how the algo's would distribute me as a data point to compare to my self managed broader portfolio.

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birdog
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Re: Mint vs Personal Capital

Post by birdog » Mon Jan 14, 2019 8:44 am

The only issue I've seen with the expense tracking at PC is that it often puts charges in the wrong category. However, this is easily corrected and my credit card account at USAA does the same thing so I think this is probably common among expense trackers. In what specific ways does Mint exceed PC for expense tracking?

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BoglePaul
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Re: Mint vs Personal Capital

Post by BoglePaul » Mon Jan 14, 2019 9:08 am

I feel mint has remained the same since Intuit purchased them and slightly ruined it. Maybe Intuit could add the personal capital features like retirement projections, etc.

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