3 Finance Apps That Are Way Better Than Mint

Amy He

By Amy He  Updated on Mon Jul 28, 2014

Amy is a staff writer at MyBankTracker.com. She writes about banking and culture. More Columns »

3 Finance Apps That Are Way Better Than Mint

For MBT’s two-week finance-tracking challenge, Simon already covered how useless he deemed expense tracking to be, while Laura described how expense tracking apps are the new loves of her life.

I suggested the team do the experiment to find better finance apps than Mint. Like Laura, I am OCD by nature and it already gives me great pleasure to make many useless lists, so why not be productive with useful ones?

I wanted to be proactive about my financial health this year and figured that tracking expenses with an app isn’t a huge task. That’s part of why so many New Years’ resolutions fail, because people are vague about their goals and there are so few specific action items. Using an app to jot down some expenses isn’t a huge commitment and my phone is with me all the time anyway, so it’s a constant reminder that I have to be aware of my purchases.

When I started by feverish hunt to for an expense tracking app, I was determined not to use Mint. I use Mint already to manage my bank accounts and loans because it’s convenient to view all my accounts together in one portal, but Mint is awful with categorizing. It’s always so wildly wrong (Paypal always gets categorized as shopping, always) that I might as well enter all purchases myself.

Mint also can’t track cash purchases and while this payment method may be falling by the wayside for some people, not for me! So really, all my financial habits tell me that I’m better off divorcing myself from Mint when it came to looking for an expense tracker.

Saver

3 Finance Apps That Are Way Better Than MintI stumbled upon Saver first in my hunt for an app. It’s not free, which I wasn’t too thrilled about, but pie charts! Colors, slick designs! I was sold.

Saver is my favorite app out of the handful I played around with, and after MBT’s two-week challenge, it’s the one I’ll continue using. The app is $4.99 in the iTunes store, and it allows me to catalogue all my expenses as easily as possible. Once I started diligently tracking my expenses, I realized that bookkeeping is hard and while not a huge commitment like I mentioned, it does take some time. But anything worth doing takes time, right?

Adding expenses on Saver is easy. This shouldn’t be considered a pro, but you would be surprised at how counterintuitive it is to find a simple “add expense” button on other apps, often buried under various pages. On Saver, just enter the amount of a purchase, select from 15 choices to categorize your purchase, and if you so please, enter a tag for it and some notes about the purchase.

My favorite thing about Saver is how it takes your expenses and compiles it into interactive pie charts by time period, and then by category. You can look at how much you spent on groceries for the month of January, for last week, or for 2013 thus far. I personally prefer pie charts over other kinds of graphs, so this app has been extremely helpful in allowing me to visualize my expenditures.

If there were an additional feature I would like to add to Saver, it would be the ability to log recurring expenses so that I didn’t have to do it manually every month. I have automatic debit set up for my loan repayments and recreational expenses (gym, newspaper subscriptions) that I get charged for monthly, so it would be nice to not have to remember to enter those manually.

Toshl Finance

3 Finance Apps That Are Way Better Than MintBeing able to track a recurring expense is a feature that Toshl Finance does offer. The tradeoff is that Toshl isn’t as slick, and has a heavier slant on budgeting, which was not something I was looking for. I find expense tracking to be a good financial exercise, but I’m not big on budgeting, which feels restrictive. As long as I don’t overspend and have a clear picture of how much I’m spending, I don’t feel the need to budget.

But for budgeters, Toshl Finance has many convenient options. There are options to budget by category (for example, a $200 monthly budget on groceries) and to budget by timespan ($50 for all expenses for the week). There’s even the option to let any unused money in a budget to roll over to the next week or month.

There’s greater flexibility with categorizing within Toshl: you can create all the categories to your heart’s content, though some users may prefer a preset number of choices.

The app for Toshl is free, but Toshl offers both free and pro accounts. With a pro account, there are options to export your financial data in more formats, as well as more budgeting options. It is currently priced at $1.99 monthly or $19.99 for the year.

Toshl is available on the web for both account types, in a similar way that users can access Mint via web or app. You can view expenses by month and by tag in charts that are nicely-designed and easy to interact with.

Expensify

3 Finance Apps That Are Way Better Than MintOf all the apps I’ve tried, Expensify is the one most geared towards business expenses. You can use it for personal expense tracking, but the options are limited and Expensify really doesn’t cater to non-business related expenses. Categories, for example, run along the lines of “lodging,” “meals” or “fuel/mileage.”

You can enter your expenses and snap a picture of an accompanying receipt, and file it to a specific expense report. Expensify lets you log hours spent on a project, as well as any car mileage and car expenses used for a business trip.

Analytics are not available on the app, but are accessible through the web version of Expensify, where you can view your expenses as illustrated through line graphs, pie charts, or bar graphs.

The Expensify app is, at the moment, a little lacking. The Expensify experience is much richer on the web version, which is a con for users who want to be able to review expenses in-depth on the go.

Expensify has a robust system online that allows smaller businesses and bigger corporations to add employees to an Expensify account. Features include integration with various external accounts (Evernote, QuickBooks, FreshBooks) and direct deposit reimbursement.

Expensify is effective for businesses, but ultimately, because I was looking for a personal finance product, I couldn’t get much use out of it.

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Post a Comment

  • Peter

    Take a look at EEBA (easy envelope budget app). Nothing fancy but its free and allows you to synch across multiple devices for families etc.

    Also had categories you prepick that an allocate too.

  • Fizzybizzle

    This is stupid…mint does everything these apps do alone in one place. I was expecting to see something equivalent to mint and all of these are equivalent to areas within mint which makes the article useless.

  • Sachin

    MCUBE in andriod is better app, it automatically takes and add expenses from your mobile sms alerts for ATM withdrwals, internet transcation, shopping etc.. no need to punch in amount. Try MCUBE once avilable on android store. Its a free app.

  • Ellis Thomas

    These are pretty good apps. Here in I would like to include one more app that manages the expenses and keep track of the same with absolute generousity. The one I am talking about is the expense reporting app from Replicon – http://www.replicon.com/olp/expense-reports.aspx . Expense reports made with this particular app is crystal clear and standardized. This particular app is cloud based and SaaS operated. Open to integrate with other payroll apps as well with the open API which comes as inbuilt with this app. Try out to include this app as well in your list.

  • Subash

    No way near to Mint.. dumbest apps they all are

  • This is your job

    This article was poorly written. It had a few typos and run on sentences.

  • Miss Frustrated

    I tried installing MINT today. ugh. What a disaster. I was so excited to see it sync so quickly, then….I noticed almost ALL my transactions (and I can have up to 20 a day) were uncategorized. It described my transactions as A, Z, Q. All I got was a dollar amount and a date for most of them. Like I have all day to try to remember what was $5.42, or $31.87 etc. and then manually add a category. The main reason I downloaded it was because Quicken 2014 was getting such bad reviews and I wanted to track where my $$ was going. Apparently TONS of people have this problem according to the comments I read. The categories import fine on other programs. Mint is NOT for people who want birds eye view of their spending using preexisting categories, who manage a busy household with lots of money going in and out of their checking account.

    • advcyclist

      Mint does have pre-existing categories and it categorizes expenditures just fine… BUT it takes a bit of time and patience to get it all sorted. Once sorted though, it remembers how you categorized previous transactions under the same payee and continues to do so until you tell it different. Bonus that you can create and add your own personalized categories to any master list.

      • http://www.mybanktracker.com Simon Zhen

        I’ve used Mint for many years and I’ve long given up on trying to correct the categorization system. It seems that Mint has the most difficulty categorizing non-retailer and non-utlity transactions. Most recently, an automatic payment to a Citi card bill — listed as “Citi Auto” — was categorized as “Parts & Services.” Citi’s transaction description may have a part in causing that confusion, but I’ve stopping caring about correcting it in Mint.

        Now, I just look at total cash flow.

  • Brian

    I haven’t used Mint very much, but it doesn’t seem like these apps offer anything better. I’ve started using Credit Sesame’s app as well – feel that it makes long term financial goals more easily achievable, e.g. improving my credit score to get the best home loan.

  • None are better than Mint.

    well none of these are better than Mint… or have all of the features (or even close) If you are manually entering expenses, why not let Mint do most of it for you and just manually change the uncategorized? Also, Mint will remember how you categorized that purchase. So, unless you are constantly purchasing random things at random place, it will catch on. Not close in my opinion. Oh, and Mint is FREE. I’d never pay a monthly amount or even $5 for another app to manually enter spending just because it has a pie chart. So, the title of the article is obviously misleading and a clear attempt to boost page views than give us anything close to 3 better apps than Mint… unless you LOVE pie charts and colors.