Mint is a useful tool for people who want to understand and ultimately control their everyday spending. However, it isn’t a complete solution for investors who need to track and even optimize various wealth assets in multiple different formats and currencies.
Keep reading to learn where Mint excels and where it doesn’t when it comes to wealth tracking and a great alternative to Mint for investors with modern wealth tracking and management needs.
What is Mint?
Mint’s tagline “We help you effortlessly manage your finances in one place” gives insight into their mission — helping consumers supervise their financial situation by providing tools to create budgets and analyze spending.
Mint does this by organizing purchases into categories to give users an overview of exactly where their money is going.
And of course, in order to do so, Mint requires access to your financial accounts (banks, credit cards, etc.) and a brief accounting of your assets (such as a home) in order to provide an overview of what’s coming in versus what’s going out. In addition, unlike most of the personal finance apps in its class, Mint connects with Coinbase — a popular cryptocurrency wallet — so you can add any Bitcoin investments to this overview.
With this information, Mint is able to show users trends over time when it comes to spending, income, debts, and net worth. However, without the capability to track a wider range of investment services, cryptocurrency wallets, and currencies; Mint doesn’t show the entire picture that a modern investor needs to organize, track, optimize, and manage their overall wealth.
With other key features including payment reminders, unusual spending and overage alerts, personalized finance tips, and a calculator for planning for large expenditures; it’s clear that Mint is a budget planning and tracking tool first and the money management features it does have are secondary to that.
It’s important to note that since Mint is free to use, the company generates revenue by sharing user data with advertisers. This is worth considering for those who wish to keep their sensitive information private from companies as well as the malicious actors who may steal it from those companies.
Summary: Mint is a platform where people can track their spending, plan for expenses, and keep an eye on their cash flow all in one place — but not truly track nor optimize the full breadth of their wealth over time.
What Is the Best Alternative to Mint for Modern Wealth Tracking?
Kubera is a great alternative to Mint, and many financial tools on the market for that matter, because of its unique capability to track and optimize a user’s complete net worth across a variety of asset classes and currencies.
The easy-to-use platform that we built at Kubera allows you to connect bank, brokerage, and cryptocurrency accounts as well as enter information on traditional wealth assets (investments, debts, etc.), physical assets (jewelry, art, etc.), and — here’s the groundbreaking feature — digital assets (domain names, trademarks, etc.).
Another feature that sets Kubera apart is its recognition that there is even more that goes into wealth management than just trackable assets and debts. Documents such as wills and trusts, property deeds, and bond and stock certificates also need a place to live in your portfolio. That’s how Kubera came up with our “Safe Deposit Box” feature that allows users to store important documents in a place that’s secure yet readily accessible.
Layer in Kubera’s unique beneficiary management feature and users can securely transfer everything in their Safe Deposit Box as well as their entire portfolio to a designated beneficiary if there comes a time when they are no longer able to manage them.
One final feature that makes Kubera an ideal alternative to Mint is that our business model is “privacy-friendly.” At Kubera, we charge a simple subscription fee so we don’t have to advertise or sell your sensitive information. And to keep that information even safer, Kubera also employs bank-level security and cutting-edge encryption practices.
Summary: Kubera is an all-in-one wealth management tool for investors who need to track and optimize physical, traditional, and even digital wealth assets over time from a single, easy-to-use platform.
Try Kubera, the Best Alternative to Mint for Complete Wealth Tracking
While Mint excels at helping people manage their everyday spending, it simply wasn’t built to be a complete wealth tracking solution for modern investors with assets that stretch across currencies, countries, and time.
With built-in support for nearly any type of account, currency, asset, or heirloom; Kubera is the all-in-one tool for tracking, managing, and optimizing wealth. See for yourself by signing up today and enjoying unlimited access to every feature during oure generous free trial period — no credit card required.