What is the difference - Wealthica vs Mint?

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Short Answer

Mint is mainly used to track cashflows and budgeting, whereas, Wealthica is mainly used to track the performance of your assets such as bank accounts, properties, investment portfolios, cryptocurrencies etc.

Detailed Answer

What are Wealthica and Mint?

Wealthica and Mint are both fintech apps that are networth trackers. You can open an account in jiffy with both these apps and enter your details. They automatically sync information, accumulate it into one platform and determine your financial health. In addition to your bank accounts, investment accounts and loan accounts, you can also manually enter your physical assets, such as real estate, gold etc. They are both associated and supported by a large number of financial institutions.

Wealthica vs Mint

As mentioned above, both the apps have many similarities. Let us explore what the differences are between these apps:

  1. Mint was created by Aaron Patzer and Wealthica was founded by Martin Leclair and his team.
  1. Mint is accessible to both the United States and Canada. However, Wealthica is available only in Canada.
  1. Mint was found in 2006 and Wealthica was found later in 2015.
  1. Mint tracks your cashflows and is majorly a budgeting tool. However, Wealthica tracks your cashflows, investments and portfolios.
  1. Mint is completely free, whereas Wealthica has different pricing plans, such as free, premium and pro.
  1. Since Mint is free, it works on an advertisement basis, hence you need to compulsorily watch ads while using the app. Whereas, you can include additional features to Wealthica by paying extra fees.
  1. With Mint, you can get credit scores and credit reports. However, Wealthica does not offer this feature.

8.With Wealthica you can track your crypto-currencies, whereas, you cannot do the same with Mint.

  1. In Mint, you cannot link the accounts of your family members and plan the finances of your family. However, with Wealthica you can link the accounts of your spouse, other family members and entities.

Wealthica and Mint

People have started giving importance to financial planning as it gives you a clear picture of where you are and you can efficiently plan for your future using these money management apps. With proper financial planning, you will not have the need to face monetary panic attacks in case of emergencies. Hence, it is important to use such apps to effectively and quickly plan your personal finances. You can choose either of the apps, based on your personal needs. There are a number of similar apps that are sprouting, such as Kubera, Wealthsimple, Passiv, Pocketsmith etc.

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Categories: Finance
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Related FAQs
Is Mint app free?

Yes, all the services of Mint app is completely free of cost for its users. There is no premium plan with additional services or ad-free version.

Is Mint app safe to use?

Yes, it is safe to use Mint app given that is uses strong data encryption, two factor authentication, four digit login code etc. It is also already widely trusted and used.

What is Mint App?

Mint is a financial planning tools for individuals and is one of the products of Intuit. You can track all your assets, liabilities and cash-flows in a single place with Mint.

Is it better to invest in Canadian or American stocks?

Based on the historical data, the Canadian stock performances haven’t even gone close to the US stocks. However, nobody knows what the future holds for us.

Is Wealthica safe to use?

Wealthica uses AWS, AES-256 encryption and TLS 1.2 technology to secure the data of its users. It applies two factor authentication on log in and can only read the data in your accounts. Hence, it is safe to use.

How Wealthica works?

Visit the Wealthica site and sign up with basic details. Link all your bank accounts and investment accounts. The app will automatically sync all your details and will start tracking your financial status.

What is Wealthica?

Wealthica is an effective money management app that is accessible to Canadians where you can track your cashflows, net worth, aids budgeting, and analyses your investment portfolio.

Is Wealthica free?

The basic services and features are free of cost in Wealthica. However, the premium plan costs $11.99 per month and the pro plan costs $24.99 per month.

Is Wealthica Pro worth it?

Wealthica Pro offers a range of features and add-ons that makes your investment tracking journey much better. See if Wealthica Pro is worth it.

How much does Wealthica cost?

Wealthica offers three plans- The basic (free), Unlimited Connect ($50/year), and Premium Unlimited ($150/year). You can choose any plan based on your needs.