Mint vs. Personal Capital | Which Should You Use?

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Mint VS. Personal Capital | Which should you use?

There has been a lot of talk about Mint and Personal Capital the past few months, and while I have been offered nothing to write about this, I felt like I needed to give an open opinion on how I’ve fared with both.

A lot of PF bloggers are saying Personal Capital is the newest and best alternative to a Mint account. I agree that it may currently offer the best alternative, but it is not the same as Mint in its entirety. Let me explain.

I have had a Mint account for a couple of years now, and it has helped me get a handle on budgeting, how we spend money, and how deep in debt we really are. I jumped on the Personal Capital train when I opened my Roth IRA because I had heard many people say that it was great for tracking investments. While it has been better than Mint at tracking how my investments do, it does not offer the ability to budget money as well as Mint.

I think the real question here is not which platform is better, but rather, how can you combine the use of these platforms to better you financial life?

I’m not going to discuss the pros and cons of each platform, because I believe you should be a proponent of both and I know everyone has already discussed it. So let’s lay it out there. Mint is better for budgeting. PC is better for investment portfolios. Both offer the ability to sync your accounts and watch where your money goes and show you how much net worth you have. That is where they meet in the middle.

Personal Capital will serve you well for keeping track of investments, while Mint is going to offer you the best tracking for your budget and finances. Plus, Mint gives you a free quarterly update on your credit score.

So let’s stop the discussing which one can replace the other and start thinking more on how we can use these two apps together for financial wellness.

Do you agree? If you have any questions about either of these financial platforms, please let me know.

Tell me what you think!