Which financial software tool is best, Personal Capital Vs Mint? It is the most common question because both tools provide easy financial analysis.
However, both softwares seems similar. Mint and Personal Capital offer cloud-based secure financial tools for viewing and linking your financial accounts at a single location at zero cost.
Moreover, both Mint and Personal Capital have pros and cons. In some instances, Mint is the best option. However, in other cases, personal capita is the better choice.
It also provides different features for managing your money. Here’s a comparison between the tools Personal Capital and Mint.
What Is The Difference Between Personal Capital Vs Mint?
About Personal Capital
Personal Capital is an online financial management organization that provides the following:
- Secure digital wealth tools for everyone for free.
- Investment advisory services for a fixed fee.
- Track the bills
- Plot your retirement with different scenarios
- Track the investment charges
- Track the investments allocation
- Evaluate the net worth
- Evaluate income and Expenditure categories
In this comparison, we’ll discuss the free online tools Personal Capital for your financial planning. It includes long-term goals like home buying, college savings, or retirement. It allows you to examine your disclosed hidden fees and investments and ensure that you are on track for your goals.
Personal Capital is way different regarding functionality in analyzing and tracking assets. However, recently CNBC selected Personal Capital as Best Budgeting App for Investors.
About Mint
Mint is a virtual money management famous for its budging capabilities. It puts information together from your financial accounts. However, you can keep spending, stick to a budget, and monitor your credit points. Personal Capital creates a holistic scenario of your economic life instead of seeing fragments across the financial accounts.
Mint is a free financial tool. It monetized its services through in-app advertisement banners and favored services to get commission.
Here are the Key features of Mint:
- Monitor upcoming bills
- Track your asset
- Monitor credit score
- Make goals to avoid debt
- Generate saving goals
- Budgeting by category
Personal Capital Vs Mint: What Are The Differences And Similarities?
Differences
Here are the differences between Personal Capital and Mint:
- Investing Tools: Both apps provide devices to evaluate your investments. However, Personal Capital is a much better option because there are many different features Mint does not have. At first, it will show you information on your financial allocation to fund your specific stocks. It will automatically calculate your expenses, and the cost will affect your revenues. It will analyze your folder and recommend your risk tolerance.
- Budgeting Tools: When it comes to budgeting, Mint is the best because Personal Capital can evaluate expenses, classify them, and give the payment data with necessary graphs. What does Mint do and Personal capita doesn’t? Is it enables you to make a budget with disbursing goals? So, if your main focus is budgeting, then Mint is the best option.
- Goals: For Goals, Mint would be a better choice in our opinion. You can easily make savings goals or avoid debt. However, Mint offers software to know how much additional money you need to pay for your plan. Personal capital doesn’t provide this feature.
- Retirement Planning: Personal Capital provides a robust retirement planner with the help of Monte Carlo simulation. It will evaluate your retirement readiness. Also, you can make income plans. For example, pension or social security during retirement and the expenses (like home purchases, vacation, and monthly fees). Also, you can create different retirement plans and run against each other. However, Mint doesn’t provide this feature.
- Credit Score: Through Mint, you can easily monitor your credit score, and Personal Capital does not provide this feature.
Similarities
Both Mint and Personal Capital share several similarities:
- Account Connections: Both allow users to connect with any financial organization with virtual login. You must provide a username and password to make the connection. However, both sites use robust security features to protect the user’s data. And immediately, either company controls the expenses of any user accounts.
- Bill Tracking: Both apps will monitor your monthly bills and inform you of their due dates.
- Cost: Both apps are at no charge. Also, both work differently that affects the user’s experience.
- Connecting Accounts: Mint and Personal Capital allows you to link your financial accounts with the app. However, this feature is the same for both software. Personal Capital connection is more reliable. Still, some accounts need help connecting to Mint, no matter how frequently you try.
- Mobile Apps: Besides the websites, both apps can be used on tablets, Apple watches, and smartphones.
- Financial Dashboard: Personal capital and Mint offer a financial dashboard for users where they get a clear view of their funds. The dashboard of Personal Capital displays your net worth, cash flow, emergency fund, investment portfolio, net worth, and savings for budget retirement. On the other hand, Mint’s dashboard will display the goals, spending, upcoming bills, credit score, investments, and monthly budget.
- Investing: Both apps provide tools to monitor your investments. However, Personal Capital’s are more robust supporting feature.
- Budgeting: Both apps provide budgeting devices to monitor income and expenses. However, Mint’s budgeting has more robust features.
Frequently Asked Questions
Mint is a virtual money management famous for its budging capabilities. It puts information together from your financial accounts. However, you can keep spending, stick to a budget, and monitor your credit points. Personal Capital creates a holistic scenario of your economic life instead of seeing fragments across the financial accounts.
Both devices seem similar. Mint and Personal Capital offer cloud-based secure financial tools for viewing and linking your financial accounts at a single location at zero cost. Moreover, both Mint and Personal Capital have pros and cons. In some instances, Mint is the best option. On the other hand, in other cases, personal capita is the better choice.
Both apps provide devices to evaluate your investments. However, Personal Capital is a much better option because there are many different features Mint does not have. At first, it will show you information on your financial allocation to fund your specific stocks. It will automatically calculate your expenses, and the cost will affect your revenues.
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