Finance

Truebill vs. Mint (Indepth) – Which is Better?

Updated on: May 4, 2022
Truebill vs Mint

There are handful of budgeting apps, but the two most popular seem to be TrueBill and Mint. Both of these services have great features, but they have some pretty significant differences.

So, if you’re trying to figure out which one you should use, look no further than this article comparing TrueBill vs. Mint. We’ll stack up everything from cost to features to ease of use to get a sense of which one is right for you!

Why it’s important to have a good budget

Many Americans lack a budget and are struggling to manage their money. Whether it’s student loans, credit card debt, or car payments, every month brings new expenses. 

If you’re having trouble keeping track of your finances, having a budget in place can help keep costs under control. 

A good budget allows you to allocate funds for both short-term and long-term financial needs by seeing exactly how much money is coming in and where it’s going out. 

Services like Truebill help consumers save money on monthly bills like cable, phone, internet, insurance, subscriptions, and many others by finding hidden fees, price hikes, and rate increases that aren’t always easy to find on your own. 

They cancel unwanted memberships, avoid paying for things you don’t use or want anymore, and even remind you when your favorite shows are coming back so you can watch them for free. 

What Truebill and Mint do differently

Both budgeting platforms offer budget-tracking features, and they are quite similar in getting a job done. Based on your spending habits, or where you’re overspending, they make it easier to stick to a budget. However, 

However, which platform has the best bill tracking feature highly depends on an individual experience. 

But, when it comes to managing your expenses, Truebill may be the better choice – especially if want to know more about your average spend across each category over a period of months. 

On the other hand, Mint offers intuitive budgeting tools. With Mint budgeting, you can set and track custom goals using tags in an interactive tool. Also, you can recategorize your goals for better understanding your budget goals. 

As to how they differ from each other, Truebill has almost the same features as the Mint, but it doesn’t offer services like Investing, banking, and different types of Loans options.  

Truebill vs Mint: Cons and Pros

Truebill: Pros and Cons

ProsCons
Automatic subscription cancellation.Bill negotiation additional charge.
Track spending.Less options in the free plan.
Save money on autopilot.No investement tracking option.
Track and build your credit score using Truecard.
Lower your bills.
Track net worth.
Create a budget by category.

Mint: Pros and Cons

ProsCons
Create a custom budget goals and track by categories and tags.Limited options in the free plan.
Track spending with projections.Doesn’t grow your credit score.
Automatically finds savings you missed using the Mintsight feature.
Get Credit insights 24/7.
Track your investment and net worth.
helps users discover personal loans and bank opportunities.
Subscription cancellation.
Affordable pricing compared to its rivals.

TrueBill vs. Mint : Features

Truebill

Truebill connects with all your bank account, analyze your bills and subscriptions, and lets you set up recurring bill payments, so you don’t have to go through paying bills each time manually. 

It also offers an easy-to-use dashboard where you can see a summary of all your monthly bills, easily tracking each service’s price and cost over time. 

And it integrates with your bank account to know how much money is available in your account each month. This helps prevent overdraft fees by notifying you when there isn’t enough money in your account to cover upcoming charges. 

Truebill is free to use app. But if you want to unlock optional features, upgrade on a sliding scale between $3-$12 per month.

Truebill Free and Paid Features

Subscriptions cancellation – Truebill piles up all your subscriptions in one place and cancels all your unwanted subscriptions, so you never lose track of what’s in use. Also, it allows you to pay dues and upcoming bills to avoid any late fees or overdrafts.

Track spending – Truebill pulls all your transaction data from your bank accounts and identifies your spending habits across different areas to increase savings and help you reach your goal.  

Save money – This Automatic savings feature analyzes your accounts and helps grow your savings whenever the optimal time is to save. 

Track credit Score – Truebill allows you to check your credit score and the factors affecting it – Such as on-time payment, history, and utilization. It notifies in real-time whenever any change occurs in your credit report. 

Negotiate bills – This Advance feature finds better rates on your bills and car insurance and helps you get a refund from your bank. 

Create a budget – With Truebill, you can set future goals and keep tabs on your spending across different categories. It maps out a spending plan to spend per month by analyzing your transactions. 

Mint

It is loaded with many amazing features that streamline your cash and move you forward. 

Whether it is a Budget Planner, Subscription cancellation, bill negotiation, or credit monitoring, you could be managing your wealth like a pro. 

However, The most prominent feature of Mint is its ease of use. With a simple and intuitive interface, it’s easy to keep tabs on where your money is going and how much you have left. 

It’s a freemium platform that comes with a few perks and downsides.

It provides a host of free services, but if you want to access Subscription management or get insights for savings, spendings one step further, Premium is required. 

However, Mint gives access to broader tools and features for free than Trubill offers at a premium.

Mint Free and Premium features

Track spending – Mint tracks your spending by monitoring your finance activities, so you get a full view of where your money is going. 

Budget planning – When creating a goal, Mint is the best option. It allows you to set custom goals and map out a spending plan based on your spending limit, keeping every expense crystal clear.  

Save Smarter – Another intuitive feature that automatically finds missed savings to help you reach your goal faster. 

Credit monitoring – is the same feature as Truebill, which allows you to keep tabs on your credit score and reports without any credit card. 

Bill Negotiation – Another similar feature it has is Bill Negotiation which is powered by the Billshark. With the help of Billshark, you can keep yourself away from overspending and save hundreds of dollars on any bills. Just tab negotiate, and they’ll lower your bills.  

Subscription cancellation – It’s a free core feature that it offers. With it, you can see and cancel all the subscriptions that you no longer need. The subscription management helps you save money on your recurring bills, so you focus on your custom goals. 

Bill tracker – This feature can be your life savior. It notifies you every time when it is due, missed payments, or price increase. It is quite a helpful feature that ensures you never miss any payment. 

Budget Categories – To get a better sense of your spending across multiple categories, this tool is the best bet. This feature breaks down all of your cash flow into diversified categories, allowing you to add tags and rename a category to suit your need. 

Investments – This is one of the most prominent software tools that Mint provides for free. It tracks all sorts of your investments and portfolios in one place and catches any hidden fees. 

Also Explore: Best Fintech banking apps like Current

How Truebill works

Truebill monitors your subscriptions and sends you a reminder when there’s a pending charge. If your bill is paid automatically through an account connected to Truebill, you can use that information to mark your payment as complete. 

The app then sends push notifications whenever you have a subscription renewal due. Alternatively, you can enter billing details for each subscription manually—for instance, when paying by check or via PayPal—and have Truebill notify you just before bills are due so that payment is never missed. 

For a flat fee of $3 per month (billed annually), Truebill also offers bank-level security features like multi-factor authentication and fraud protection on all transactions. 

These features come at no additional cost if you pay for them using in-app purchases but are only available with a monthly plan if purchased directly from Truebill’s website.

How Mint works

Mint is primarily a budgeting tool. It organizes your financial information in one place, allowing you to monitor your accounts and stay on top of bills. The service also has tools for long-term financial planning, such as retirement and savings goals. 

How Mint budget works

The service can automatically track credit card purchases, bank transactions, and more; it will then give you a snapshot of where you stand financially at any given time. 

Besides, Mint has a loan center that provides Mortgages, students, auto, and personal loans by showing the right loans for you from third-party lenders such as Upstart and Lending Club. Similarly, you can browse a bevy of investing options from its partners in the brokerage, mico-investing, and retirement categories. 

More interesting is that Mint offers free calculators tools to help you know your home affordability, loan payment, mortgage loans, and mortgage refinance.  

Another cool feature is the Salary check that allows you to visualize and compare your potential earnings from over 13 million W-2s data backed by Turbotax.  

Truebill vs. Mint : Pricing

TrueBill

The Truebill iOS and Android apps are available for free, and there is a Premium tier. The premium option comes at a sliding scale of $3-12, where $3 and $4 are billed annually.

Premium features allow you to get more control over your finances, such as a History Report, Custom categories, Smart Savings, unlimited budgeting, Premium chat, Subscription management, and spending projection. 

On the other hand, Bill negotiation is a totally distinct feature that may be time-consuming and cost money for each successful negotiation. 

Mint

Mint-Pricing-min

Mint is a cheaper option (Just $4.99 per month), with all the tools and features it has to offer. It has another plan that costs around $0.99, which only gives you an ad-free experience. 

Compared to its rival, it has more options with unique features like Mint Salary and Coaching that elevate your saving experience further. However, with Mint, you can integrate even your offline payments and investment accounts and monitor your bills and transaction from one place. So, Mint bill tracking has a slight edge over Truebill. 

On the flip side, it doesn’t include Bill negotiation in Premium, as you’ve to pay a fee when it lowers your bills. 

TrueBill vs. Mint : Ease of use

Truebill

Truebill, unlike other budgeting apps, has a straightforward user interface. It also works as a check-in system that alerts you when bills are due or when your account balance is running out. 

In some ways, Truebill mimics an email alert system and informs you of what needs to be done before you forget.

This feature allows users to stay organized and efficient, leading to cost savings over time.

Mint

No matter how many there are, Mint stores all of your accounts on a single dashboard. And since it’s connected to banks and credit card companies, it’s easy to link transfers to Mint from one account to another with a few clicks. 

The interface also has its own unique charm, and everything is laid out in an intuitive way that should be easy for anyone—even those who have never used financial software before—to grasp right away.

Truebill vs. Mint : Which is better?

Both Truebill and Mint are great budgeting apps. However, there are a few key differences between them that you should be aware of before deciding which one to use. 

Truebill doesn’t have any features for tracking investments as Mint does. With Mint, all of these features are included in its free version. 

However, both applications don’t require you to download an additional app or sign up for anything else. All you need is your login information and an online banking account, and you’ll be able to get started right away. 

Both have almost the same features that one may like or dislike, depending on what kind of features they’re looking for. For example, Mint offers recategorization of bank transfers, but Truebill doesn’t. But Truebill offers an option to grow your credit score that Mint doesn’t.

If we don’t consider their price, both have mostly similar features. So when it comes to the best budgeting and bill tracking platform, Both are equally better, but Mint is our favorite tool for our tasks like Subscription management, tracking investments accounts, and other resources. 

By ankit raghuwanshi