If you are one of the millions of users who rely on Mint to manage your personal finances, you may have heard the shocking news: Mint is shutting down by January 1, 2024 The popular budgeting app, which was acquired by Intuit in 2009, announced that it will no longer be available and that users will have to migrate to Credit Karma, another Intuit-owned service.
But what if you are not satisfied with Credit Karma as your new financial platform? What if you are looking for a more reliable and feature-rich alternative to Mint? What if you want a secure and comprehensive asset management platform that can handle not only your bank accounts and credit cards, but also your investments, crypto, real estate, and other assets?
If you are in this situation, you may want to check out Kubera, a leading alternative to Mint that offers a modern and holistic approach to wealth management. In this blog post, we will explore why Kubera is a great choice for ex-Mint users who want to take their personal finance to the next level.
The Mint Shutdown – What it Means for Current Users
Mint is one of the oldest and most popular personal finance apps in the market. It allows users to connect their bank accounts, credit cards, loans, and other financial accounts to track their spending, income, budget, and net worth. Mint also provides personalized tips and insights to help users save money and achieve their financial goals.
However, Mint has also faced some challenges and criticisms over the years. Some users have complained about the app’s frequent syncing issues, outdated interface, lack of customization, and intrusive ads. Moreover, Mint has been overshadowed by Credit Karma, a newer and more comprehensive personal finance platform that offers free credit scores, reports, monitoring, and tax filing services.
In November 2023, Intuit announced that it will close Mint by January 1, 2024, and that users will have to switch to Credit Karma to continue their financial journey. According to Intuit, this decision was made with “careful consideration” and “in light of our evolving business strategy”. Intuit also claimed that Credit Karma will offer some of Mint’s most popular features, such as spending and income tracking, as well as new features that Mint did not have, such as net worth tracking and personalized offers.
However, this news may not be welcomed by all Mint users, especially those who are loyal to the app and have been using it for years. Some users may not want to give up their Mint data, which they have accumulated and organized over time. Some users may not trust Credit Karma, which has been involved in a data breach due to technical glitches. Some users may not find Credit Karma suitable for their needs, as it focuses more on credit and debt management than on asset and investment management. And some users may be wary of data privacy and deceptive marketing practices at Credit Karma for which they have been fined by the FTC.
If you are one of these users, you may be wondering: Is there a better alternative to Mint and Credit Karma? Is there a personal finance tool that can offer more features, more security, and more flexibility than these platforms?
The answer is yes, and it is called Kubera.
The Quest for a Mint Alternative – Key Features to Consider
When looking for a Mint alternative, you may want to consider the following key features that a personal finance tool should have:
- Comprehensive asset management: A personal finance tool should be able to track and manage not only your bank accounts and credit cards, but also your other assets, such as stocks, bonds, mutual funds, ETFs, crypto, real estate, vehicles, precious metals, web domains, life insurance policies, and more. You should be able to see your total assets, debts, and net worth at a glance, and monitor how they change over time.
- Privacy-focused finance app: A personal finance tool should respect your privacy and protect your data. It should not sell your data to third parties, bombard you with ads, or spam you with offers. It should use bank-level security measures, such as encryption, multi-factor authentication, and biometric verification, to safeguard your information. It should also allow you to share your portfolio with trusted people, such as your spouse, financial advisor, or beneficiary, in a secure and controlled way.
- Comprehensive investment tracking: A personal finance tool should be able to track and manage your investments across different platforms, markets, and currencies. It should be able to connect to your online bank and brokerage accounts, crypto exchange accounts and wallets, and other investment platforms, and update your portfolio values automatically. It should also allow you to manually enter any assets or transactions that are not supported by the tool. It should provide you with relevant data and insights to help you optimize your investment performance and strategy.
- Advanced financial planning: A personal finance tool should go beyond just tracking and managing current finances. Kubera's 'Fast Forward' feature offers a glimpse into the future of your portfolio, allowing you to apply various scenarios and see their potential impact on your net worth. This feature is especially useful for planning around life events and market changes, giving you a more dynamic and proactive approach to managing your finances. Whether it's planning for a company IPO, funding education, or adjusting for market fluctuations, this tool provides a valuable perspective on long-term financial health and goals.
- Stability and dependability of service: A personal finance tool should be reliable and trustworthy, especially in light of the sudden shutdown of Mint by Intuit. Users should not blindly trust any other service that Intuit is migrating them to, such as Credit Karma, which may have its own issues and limitations. Similarly, users should be wary of many unprofitable venture-backed startups that claim to be Mint alternatives, but may not survive in the competitive and uncertain market which experts predict will lead to a wide scale shutdown of such startups. Kubera, on the other hand, is a profitable bootstrapped company run by serial entrepreneurs who have built well-known products that are still around over two decades later. As a result, Kubera is the preferred choice of users, HNIs, CEOs, and Barron’s 100 RIA firms and discerning family offices. Kubera offers a stable and dependable service that users can rely on for their personal finance needs.
Kubera – A Comprehensive Asset Tracking, Financial Planning, and Wealth Management Tool
Kubera is a personal finance platform that helps you track and manage all of your assets and investments in one place. It is designed for modern investors and high-net-worth individuals who have diverse and complex portfolios that go beyond traditional bank accounts and credit cards.
With Kubera, you can:
- Track your bank accounts, loans, credit cards, brokerage accounts, crypto exchange accounts and wallets, real estate, vehicles, precious metals, web domains, life insurance policies, safe deposit boxes, and more. You can also manually enter any assets or debts that are not supported by the tool, such as art, collectibles, private equity, etc.
- See your total assets, debts, and net worth at a glance, and monitor how they change over time. You can also see your liquid net worth, which excludes illiquid assets such as real estate and private equity. You can view your portfolio in any currency of your choice, and Kubera will automatically convert your assets using the latest exchange rates.
- Upload and store important personal documents, such as wills, trusts, contracts, deeds, etc. You can also add notes and attachments to each asset or debt entry. This way, you can have all your financial information and documents in one secure financial platform.
- Designate a beneficiary for your account, who will receive access to your portfolio and documents if you become inactive for a certain period of time. Kubera will send you periodic check-in emails to confirm your activity. If you don’t respond, Kubera will send your portfolio to your beneficiary via email. This way, you can ensure that your assets and documents are passed on to your loved ones in case of your death or incapacity.
- Share your portfolio with anyone you trust, such as your spouse, financial advisor, accountant, lawyer, etc. You can create a read-only version of your account and send a secure link to the person you want to share with. You can also revoke the access anytime you want.
Kubera’s approach to privacy and security is based on the principle of “privacy by design”. Kubera does not sell your data to third parties, show you ads, or send you offers. Kubera uses bank-level security measures, such as 256-bit encryption, multi-factor authentication, biometric verification, and VeriSign security scanning, to protect your data. Kubera also allows you to delete your data permanently from their servers anytime you want.
Why Kubera Stands Out – Features and Benefits for Ex-Mint Users
Kubera is a great alternative to Mint for several reasons. Here are some of the features and benefits that Kubera offers that Mint does not:
- Comprehensive asset management: Mint is mainly a budgeting tool that focuses on tracking your income and expenses. It does not support many types of assets and investments, such as crypto, real estate, precious metals, web domains, life insurance policies, etc. Kubera, on the other hand, is a comprehensive asset management platform that supports all kinds of assets and investments. You can track and manage your entire portfolio with Kubera, not just your bank accounts and credit cards.
- Advanced financial planning: Unlike Mint, Kubera offers the 'Fast Forward' feature, allowing users to project and analyze their future financial scenarios. This tool is invaluable for long-term financial planning, helping users visualize the impact of various financial decisions and life events on their net worth.
- Privacy-focused finance app: Mint is owned by Intuit, a company that makes money by selling your data to third parties, showing you ads, and sending you offers. Mint also has a history of data breaches and security issues. Kubera, on the other hand, is a privacy-focused finance app that does not sell your data, show you ads, or send you offers. Kubera also uses bank-level security measures to protect your data, and allows you to delete your data permanently anytime you want.
- Comprehensive investment tracking: Mint is not a good tool for tracking and managing your investments. It has limited support for investment platforms, markets, and currencies. It does not update your portfolio values automatically, and often has syncing issues. It also does not provide you with relevant data and insights to help you optimize your investment performance and strategy. Kubera, on the other hand, is a comprehensive investment tracking platform that supports all kinds of investment platforms, markets, and currencies. It updates your portfolio values automatically, and provides you with relevant data and insights to help you optimize your investment performance and strategy.
Don’t just take our word for it. Here are some real user testimonials from users who switched to Kubera and loved it:
- “Kubera is one of those services that you can’t live without. I’m able to track real estate, vehicles, crypto prices, stocks, credit card balances, banking, and much more all with bank level security. I’ve tried many services including a plain old Excel file, but nothing else compares. Give Kubera a try and you won’t be disappointed.” - Jerad W
- “More powerful than any other net worth tracker I’ve tried.” - David B
- "Kubera is the kind of interface I’ve been looking for to provide a global picture of my net worth. It’s simple, intuitive, and provides meaningful data in a holistic way. There are some areas for improvement, as always, but the development team is responsive and personable, and I believe they have a vested interest in ensuring the success of the platform. I highly recommend Kubera to anyone who wants to have a clear and accurate picture of their net worth." - Michael S
- "Kubera makes tracking your net worth fun. It's a uniquely well considered product. Thorough and flexible and deep in all the ways you want. And constantly getting better." - Eoghan McCabe, CEO of Intercom
- "Kubera is very simple, very powerful, it's beautiful." - Kevin Rose, Co-founder & CEO @ PROOF
Beyond Budgeting – Kubera’s Approach to Modern Wealth Management
You may have noticed that Kubera does not focus on expense tracking and budgeting, unlike Mint. This is because Kubera believes that budgeting is not the best way to manage your personal finance, especially if you have a diverse and complex portfolio of assets and investments.
Budgeting is a traditional and outdated method of personal finance that focuses on limiting your spending and saving money. It is based on the assumption that your income and expenses are fixed and predictable, and that your financial goals are simple and short-term. However, this is not the case for most modern investors and high-net-worth individuals, who have variable and uncertain income and expenses, and complex and long-term financial goals.
Kubera’s approach to personal finance is based on the principle of “comprehensive asset management”. Kubera believes that the best way to manage your personal finance is to track, optimize and plan your assets and investments, not your income and expenses. Kubera helps you to:
- Grow your wealth by investing in diverse and profitable assets, such as stocks, bonds, mutual funds, ETFs, crypto, real estate, etc.
- Forecast future finances with 'Fast Forward': predict your portfolio's future and model complex scenarios, aiding in long-term wealth planning and management.
- Protect your wealth by diversifying your portfolio, hedging your risks, and securing your data and documents.
- Transfer your wealth by designating a beneficiary, sharing your portfolio, and planning your estate.
Kubera’s approach aligns with the needs of modern investors and high-net-worth individuals, who have more sophisticated and dynamic financial situations and goals. Kubera helps you to achieve financial freedom and peace of mind, not just financial stability and security.
Getting Started with Kubera – A User-Friendly Transition
If you are ready to switch from Mint to Kubera, you will be glad to know that the transition is easy and user-friendly. Here are some tips and best practices for new Kubera users:
- Sign up for a 14 day trial of Kubera here.
- Connect your financial accounts to Kubera: You can connect your bank accounts, credit cards, loans, brokerage accounts, crypto exchange accounts and wallets, and other financial accounts to Kubera using our secure and trusted data providers. Kubera will automatically update your portfolio values from these accounts. You can also manually enter any assets or debts that are not supported by our aggregators, such as private equity and VC investments for tracking those account balances. You can also upload and store any documents related to these assets or debts, such as deeds, contracts, wills, etc.
- Plan your wealth's future with 'Fast Forward': Utilize Kubera's innovative 'Fast Forward' feature to simulate and project your portfolio's future based on various scenarios and rules. This powerful tool allows you to model different financial situations, like investment growth, debt repayment, and significant life events, providing a strategic view of how your decisions today can shape your financial future.
- Maintain Optimal Portfolio Diversification with Rebalancing: Kubera's rebalancing feature helps you keep your portfolio aligned with your target allocations, offering immediate suggestions for adjustments, ensuring your investments stay on track with your financial goals.
- Customize your portfolio view and currency: You can choose how you want to view your portfolio, such as by asset type, account, or currency. You can also choose which currency you want to use as your base currency, and Kubera will automatically convert your assets using the latest exchange rates.
- Set up your beneficiary and share your portfolio: You can designate a beneficiary for your account, who will receive access to your portfolio and documents if you become inactive for a certain period of time. You can also share your portfolio with anyone you trust, such as your spouse, financial advisor, accountant, lawyer, etc.
If you have any questions or issues during the transition, you can contact Kubera’s customer support team via email or in-app support. Kubera also has a comprehensive FAQ section and a blog that provide useful information and tips for using the platform.
Conclusion
Mint's closing may seem like a bad news for many personal finance enthusiasts, but it is also an opportunity to explore a better alternative to Mint. Kubera is a robust, secure, and comprehensive personal finance platform that can help you track and manage all of your assets and investments in one place. Kubera is designed for modern investors and high-net-worth individuals who have diverse and complex portfolios that go beyond traditional bank accounts and credit cards.
If you are looking for a Mint alternative that can offer you more features, more security, and more flexibility than Mint and Credit Karma, you should give Kubera a try. You can sign up for a trial of Kubera and see for yourself how it can transform your personal finance.
Don’t let the Mint shutdown stop you from achieving your financial goals. Switch to Kubera today and discover a new way of managing your wealth.
