Mint Review - why 5 stars?

Mint Review
ITQlick Score: 86/100
ITQlick Rating: (5/5)
Pricing: 3/10 - low cost
Category: Accounting & Finance -> Mint
Ranking:Ranked 25 out of 419 Accounting & Finance systems
Company: Intuit
Pricing: starts at $14.99 per month
Typical customers: Small businesses and start ups
Platforms: Cloud
Links: Mint pricing, Mint alternatives

Shlomi LaviShlomi Lavi / updated: Apr 15, 2022

We publish unbiased reviews. Our opinions are our own and are not influenced by payments from advertisers. Learn more by reading our advertiser disclosure.

What is Mint?

Mint is an online financial management service designed for personal use. It is the creation of entrepreneur Aaron Patzer to enable citizens in US and Canada to easily track their credit card, bank balance, loan transactions and investments on a single online interface.

In 2009, the software got acquired by Intuit and by November 2013 it was claimed it had up to 10 million users.

What is Mint rating?

The rating of Mint is 5 stars out of 5 and the total score is 86 out of 100. The ratings are based on our unbiased experts. Learn more in our rating methodology page

Who uses Mint?

Mint is a software intended for individuals who don't necessarily own a big business but want to have a fair picture of how money flows into their account. It can be used by freelancers, non-profit organizations and small businesses. It does not offer any feature that goes beyond the level of personal finance though.

Is Mint the best Accounting & Finance system?

Mint is ranked 25 out of 419 software in their category (Accounting & Finance systems).

What are their main features and functionalities?

Mint is the tool to keep you up-to-date with your money. Through a simple one time setup, it enables you to pull information from all your accounts and see exactly where you money is going. The information pulled is also categorized in a way that you can easily understand it.

For those who want to be notified about something specific, Mint offers more than 20 types of alerts. The software alerts users of any fee and reminds them to pay bills on time. All this happens in a secure environment guarantying that your money remains safe.

What are Mint's pros? (5 Pros)

  • Compatible with smartphone all kinds, Android, iOS and Blackberry
  • More than 20 notification options available either via phone or email
  • All accounts are protect through bank level security
  • Users can rely on it to track their investments
  • Facilitates the budgeting process based on historical spending

What are Mint's cons? (5 cons)

  • Does not support any other language except English
  • No way to rely on it to reconcile many different accounts
  • The only currency supported is the dollar
  • Cannot be used to assigned multiple savings goals to a single account
  • Does not offer any video tutorial for training

Who are their main alternatives?

Other softwares that offer similar service like Mint are Xero, Shoeboxed, Wave, Kashoo, Quicken and FreeAgent. Keep in mind that Mint wouldn't be of use to large enterprises, a better match for that would be Quicken. Mint only offers basic tool for personal use.
 
Mint failed to support Google Apps. With that mind, Xero, Shoeboxed, Wave and Kashoo get ahead. Nonetheless, Mint has the advantage of integrating Quickbooks Intuit which is not the case with Xero, Wave, Kashoo, Quicken and FreeAgent.
 
With respect to language, they all find themselves at the same level. They only support the English language. All of them are also mobile phone friendly.
 
Mint does stand out by being free. That is not the case for its competitors.

What is the cost of Mint?

The cost of license starts at $14.99 per month. On top of the total cost of licenses which is easy to calculate - what is the REAL total cost of implementation? You need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 3 out of 10 (10 is most expensive). You can find here the REAL total cost breakdown for Mint. You can also find here pricing information from Mint's website.

What should you ask Intuit during a demo session? (65 questions)

Schedule a demo with Mint and access 65 must ask questions for the vendor while watching Mint in action. Visit the vendor's website here.

List of categories

Core Accounting
Budgeting & CPM
Financial reporting

List of features

Billing & Invoicing
Budgeting & Forecasting
Cash Flow
Fixed-Assets
Capital Asset Planning
Graphical Data Presentation

Mint Vs. Alternatives

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5/5
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MoneyDesktop
ITQlick rating
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Pricing not available
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4
MultiCHAX
ITQlick rating
3.4/5
Score
92/100
Pricing
7/10
License pricing
$99 per license
Functionality
5
Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.