• filter:

Mint vs Personal Capital

  • Page :
  • 1
  • Text Only
  • Search this Topic »
Voting History
rated:
Personal Capital dashboard:
https://www.personalcapital.com/financial-software/net-worth

i have no idea how much i spend a month.
 ie: supermarket, restaurants, utilities, mortgage, etc

i just know i spend less than what i make since my bank acct goes up every month, based on monthly statements.

Both of these sites supposedly allows you to see your finances in an easy to understand way and for free.
i have no problems entering my credit card credentials to these sites.
but im wary of entering my bank acct credentials.
How safe are these sites?

and which site is better?

Member Summary
Most Recent Posts
Yep - I would be lost without Mint. I check 89 accounts every morning in about 10 minutes. Doing that without an aggrega... (more)

vnuts21 (Mar. 29, 2017 @ 6:24a) |

but isn't Personal Capital  also an aggregator?

sidenote: got my 1st voicemail from personal capital on a google voice # I... (more)

yurgreat (Mar. 30, 2017 @ 9:51a) |

Personal Capital has problems retrieving info from my Fidelity 2% Visa.
after the initial log in, it can never retrieve s... (more)

yurgreat (Apr. 07, 2017 @ 7:30p) |

Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

rated:
yurgreat said:   Personal Capital dashboard:
https://www.personalcapital.com/financial-software/net-worth

i have no idea how much i spend a month.
 ie: supermarket, restaurants, utilities, mortgage, etc

i just know i spend less than what i make since my bank acct goes up every month, based on monthly statements.

Both of these sites supposedly allows you to see your finances in an easy to understand way and for free.
i have no problems entering my credit card credentials to these sites.
but im wary of entering my bank acct credentials.
How safe are these sites?

and which site is better?


Your answer is right in front of you. Total deposits less how much your account when up is how much you spent.

Some software can do analysis of your downloaded transactions to tell you about where your money is going.

You've taken the great first step and asked yourself the question. The best answer is within yourself. Discipline yourself and keep your receipts for a week then take a look at the end of the week. It will all become clear.

rated:
Just one properly managed spreadsheet can do this. I have one Excel sheet per year with columns for each bank account, each credit card, and for each expense category (also one column for cash and one for gift cards). Twice a week, I gather up my receipts and enter them into the sheet, e.g. a plus $10 in the expense category, minus $10 in the bank/credit card column. Twice a month I manually add in paychecks deposited to my bank account. Column sums are on the top row, and row sums (mostly a checksum of 0) are in the leftmost column. This sheet tells me my expenses by category, my bank account/cc balances, checking account sufficient balance check, unexpected bank/cc charges, etc. All-in-one. With a few colors codes, and comment entries, you can keep track of anything (merchandise not received, refund not posted, etc.). I manage my investments separately though. End of the year I roll the column balances to a new sheet and start again. After a couple of years, the whole thing seems fairly effortless (but very rewarding). YMMV.

rated:
Which is better: Mint or Personal Capital?

The answer: YNAB.

rated:
I have Mint and it only helps track spending based upon your credit card and bank direct transfer purchases. If you use cash or write checks; it will not help you. It basically tells you how much you spent at restaurants, grocery stores, etc.. and how much you normally spend or if you exceed a set limit.

I believe Personal Capital is to track your investments and net worth to plan for retirement. I don't think it tracks your budget and spending on a detailed level.

You can always sign up for the Mint account and don't give them the sign ins for any retirement or bank accounts you don't want them to have access to. I didn't give them access to my high-dollar accounts.
 

rated:
eurekaa said:   Just one properly managed spreadsheet can do this. I have one Excel sheet per year with columns for each bank account, each credit card, and for each expense category (also one column for cash and one for gift cards). Twice a week, I gather up my receipts and enter them into the sheet, e.g. a plus $10 in the expense category, minus $10 in the bank/credit card column. Twice a month I manually add in paychecks deposited to my bank account. Column sums are on the top row, and row sums (mostly a checksum of 0) are in the leftmost column. This sheet tells me my expenses by category, my bank account/cc balances, checking account sufficient balance check, unexpected bank/cc charges, etc. All-in-one. With a few colors codes, and comment entries, you can keep track of anything (merchandise not received, refund not posted, etc.). I manage my investments separately though. End of the year I roll the column balances to a new sheet and start again. After a couple of years, the whole thing seems fairly effortless (but very rewarding). YMMV.
  
That is a lot of labor for what amounts to light work in Personal Capital. 

I use Personal Capital.  I have for some time now and after doing exactly what you have been doing, I find it much less labor intensive to use Personal Capital for the same work.  

rated:
I use Mint for budgeting and breakdown of expenses.  It only has my credit card accounts and those bank accounts that are same issuer as my CC.

Personal Capital is only for investment accounts, and shows me that.  

For me, its easier to keep these separate.  One, I didn't find PC budgeting/spending area that great when I started using PC a couple years ago.  But then again, I am using the apps for unitary uses and don't want to be bothered by extra functionality.

 

rated:
thx all for your replies.

I'm trying personal capital.
does what I want, which is show me which categories I spend my $ on.

one problem is that its not accepting my username/password for my capitalone credit cards.
yet it accepted my username/pw for my capitalone bank acct.

the accts are linked.and its the same username/pw.
im going to give them a call.
I just found it odd

rated:
You'll want to log into Capital One and get your accesscode to use instead of the password.

rated:
I use both. Personal Cap is for investment/retirement. Mint for cash flow/budgeting.

rated:
Personal capital could not connect to synchrony bank or purepoint. The mobile app is not as good as desktop. Expect call from personal capital reps for upsell.

rated:
HumDoHamaraDo said:    Expect call from personal capital reps for upsell.
  oh that sucks.
I looked at my acct settings for opt out and couldn't find any

also, the site is unable to update the spending on my fidelity 2% visa like it can on all my other credit cards.
keeps saying requires additional login info but doesn't tell me what

rated:
yurgreat said:   
HumDoHamaraDo said:    Expect call from personal capital reps for upsell.
  oh that sucks.
I looked at my acct settings for opt out and couldn't find any

also, the site is unable to update the spending on my fidelity 2% visa like it can on all my other credit cards.
keeps saying requires additional login info but doesn't tell me what

Personal Capital rep is annoying initially with insisting on calling you and doing their financial analysis. I got tired and eventually let them do their sale pitch.... yadda yadda give us 0.8%/yr of your non-401k equity so we can manage your money for you and maybe earn 1% more than currently....

After telling them thanks but no thanks, they've not recontacted us though. So it's not a big deal and still using them to track investments. They're not as good as Quicken (or Mint) for following cashflow or making reports though. So we're using the strengths of each.

rated:
catanpirate said:   Which is better: Mint or Personal Capital?

The answer: YNAB.

  
What feature of YNAB is worth the price versus just tolerating the ads on Mint?

rated:
When personal capital calls, them your (or your spouse) employer is a member of NYSE and as per industry rules, you can only use employer designated brokerages. They know what that means and will not give you the sales pitch. If they ask you which employer, tell them name of any investment bank (e.g. Goldman/Morgan Stanley)

rated:
arch8ngel said:   
catanpirate said:   Which is better: Mint or Personal Capital?

The answer: YNAB.

  
What feature of YNAB is worth the price versus just tolerating the ads on Mint?

  Zero based budgeting

Mint makes its money off sub optimal affiliate links. You are working with someone who is working against you

rated:
That's only if you click on those ads in Mint.

rated:
catanpirate said:   
arch8ngel said:   
catanpirate said:   Which is better: Mint or Personal Capital?

The answer: YNAB.

  
What feature of YNAB is worth the price versus just tolerating the ads on Mint?

  Zero based budgeting

Mint makes its money off sub optimal affiliate links. You are working with someone who is working against you

  
Ignoring the point about affliate links and ads (since ignoring those is EXTREMELY easy to do)... is there a comparison somewhere that specifically illustrates how YNAB is handling the aspect of budgeting differently than Mint?

(outside comparison, not just the YNAB promo page)

rated:
arch8ngel said:   
catanpirate said:   Mint makes its money off sub optimal affiliate links. You are working with someone who is working against you
 

  
Ignoring the point about affliate links and ads (since ignoring those is EXTREMELY easy to do)
 

  ad block plus blocks the Mint ads?

rated:
Another aspect of using a aggregator like Mint is that if you have a dozen credit cards and bank accounts... (you know who you are) then it makes it very easy to monitor those cards and accounts for fraud. It's just part of my morning routine to login and check all the new transactions.

rated:
Yep - I would be lost without Mint. I check 89 accounts every morning in about 10 minutes. Doing that without an aggregator would take hours.

rated:
vnuts21 said:   Yep - I would be lost without Mint. I check 89 accounts every morning in about 10 minutes. Doing that without an aggregator would take hours.
  but isn't Personal Capital  also an aggregator?

sidenote: got my 1st voicemail from personal capital on a google voice # I rarely use

rated:
Personal Capital has problems retrieving info from my Fidelity 2% Visa.
after the initial log in, it can never retrieve subsequent info.

the only way I can update is to delete the acct then add it back.

Looks like I'm going to be using Mint afterall.
and re-enter info from all my accts. sigh...

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
     
    Click here for full-featured reply.


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017