For years, the gold standard for budgeting was often Mint. However, the landscape has changed dramatically: Mint officially shut down in early 2024.
This forced millions of users to confront a fundamental question: What kind of budgeting philosophy do I need?
Today, the top apps fall into one of two distinct categories, each designed for a different type of user:
- The Budgeter: You need hands-on control and granular cash flow management. (YNAB)
- The Investor: You need a high-level dashboard focused on net worth and investment performance. (Empower)
We’ve compared the two industry leaders and identified the best replacement for the legacy Mint users.
The Zero-Based Philosophy (YNAB)
YNAB (You Need A Budget) is not just a tool; it's a completely different way of handling your money. It operates on a zero-based budgeting philosophy, meaning every single dollar you have is assigned a job before you spend it.
YNAB's Advantage: Full Control and Mindset Shift
- Method: YNAB forces a proactive approach. When money hits your account, you must tell the app exactly where it goes ("a job"). If you overspend in the "Groceries" category, YNAB forces you to manually "steal" that money from another category (like "Dining Out"). This friction makes you confront your spending decisions immediately.
- Best For: Users who struggle with overspending, live paycheck-to-paycheck, or are trying to actively pay off debt.
- Key Drawback: Cost and Learning Curve. YNAB operates on a monthly or annual subscription (typically over $100/year). It also has a steeper learning curve than most apps, requiring a serious commitment to the methodology.
- Investment Tracking: YNAB does not track your investments automatically; you must manually update your portfolio balance. It is built purely for budgeting, not for wealth management.
The Net Worth and Investment Tracker (Empower)
Empower Personal Dashboard (formerly Personal Capital) is the best free alternative for the investor who wants a Mint-like, hands-off view of their finances.
Empower's Advantage: Free, High-Level View
- Method: Empower is designed for wealth tracking first, with budgeting features second. It securely links all your bank accounts, credit cards, mortgages, and investment accounts to give you an accurate, real-time picture of your Net Worth.
- Best For: Investors who prioritize seeing their portfolio performance, asset allocation (where their money is invested), and how their cash flow affects their overall wealth.
- Key Drawback: Budgeting is basic. While the app categorizes transactions automatically and tracks spending, it lacks the complex, forward-looking envelope-style budgeting tools of YNAB.
- Cost: Free. Empower makes money by selling wealth management and financial advisory services to users who have high net worth (a high-value affiliate model). Their core dashboard tools are free to use.
The Best Mint Replacement (Monarch Money)
For users who miss Mint's clean interface and comprehensive feature set, the closest modern replacement is often Monarch Money. It was founded by former Mint employees who sought to replicate Mint's beloved features in a more modern, sustainable, subscription model.
Monarch's Advantage: Mint-Like Features, Modern Platform
- Method: Monarch is built for general financial visibility, combining elements of Mint and Personal Capital. It excels at combining net worth tracking with strong, customizable monthly budgeting.
- Best For: Former Mint users who want a single app to track all their accounts, create goals, and benefit from excellent opportunities for customization.
- Cost: Subscription-based (similar to YNAB).
- Key Feature: Strong month-in-review recaps and the ability to set up shared access for a spouse or partner, which is excellent for household budgeting.
Head-to-Head: The Budgeting Philosophy Comparison
| Feature | YNAB (You Need A Budget) | Empower Personal Dashboard | Monarch Money |
| Primary Goal | Cash Flow & Spending Control | Net Worth & Investment Analysis | Holistic View & Customization |
| Methodology | Zero-Based Budgeting (Assign every dollar a job) | Automated Tracking (Categorize and analyze spending) | Custom Monthly Budgeting (Modern Mint-like interface) |
| Cost | Subscription (The highest annual cost) | Free (High-value tools for free) | Subscription (Mid-range cost) |
| Best for | Overspenders, debt-payers, or those who want full control over every dollar. | Investors, high-net-worth individuals, or those who want a free portfolio dashboard. | Former Mint users and couples who need a modern, all-in-one approach. |
Final Verdict: Match the Tool to Your Goal
The "best" app is simply the one that gets you to stick to your budget.
- If your goal is to change your spending habits and get out of debt: Choose YNAB. Its methodology forces change.
- If your goal is to track portfolio performance and net worth for free: Choose Empower. You cannot beat the price or the quality of its investment tracking tools.
- If your goal is a smooth transition from Mint or shared finances: Choose Monarch Money.
