Popular budget app Mint shutting down in Jan

Damita Menezes

11 months ago

FILE - The likeness of George Washington is seen on a U.S. one dollar bill, March 13, 2023, in Marple Township, Pa. The Congressional Budget Office said Friday, Dec. 15, that it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years. (AP Photo/Matt Slocum, File)

(NewsNation) — Long revered as the best free budgeting app, Mint, is shutting down in Jan. 2024.

Intuit, the company that owns Mint alongside other well-known money management platforms like Quickbooks and TurboTax, has recommended that current Mint users transfer their data to Credit Karma, which is also owned by Intuit.

However, this may not be the most suitable option for all users. Credit Karma will not offer the same budgeting tools in Mint.

Credit Karma does not provide a budgeting tool that permits users to establish a monthly budget and allocate budgets by category, which is a favorite feature of Mint users.

Mint allowed users to connect their spending accounts to the service, making it possible to automatically categorize purchases as restaurants, groceries, or bills, simplifying expense tracking.