Mint Review 2021: How Does It Make Money?

Mint Review 2021: How Does It Make Money?

Managing personal finances is one of the most important parts of every person on this earth. We should always look forward to keeping track of our spending. But in this fast paced lifestyle it’s difficult to record it through traditional methods like pen and paper. 

Do not worry! 

Here comes the lifesaver “Mint app”. It’s an app that makes it easy to manage and save your money. 

You can easily set your goals and it will help you to reach those goals if you manage to follow the app completely. 

So in this post I am going to further reveal about the mint app. You will know: what exactly mint is, its features, who can use it, pricing, how makes money and more. 

Let’s get started 

What Is Mint? 

Mint is a fantastic personal finance app that has received numerous Editors’ Choice awards for its ease of use, usability, and smart financial capabilities.

It allows you to connect to your online financial accounts, check your credit score, assess your net worth and other things.

Furthermore, Mint is completely free, thanks to the service’s regular presentation of targeted advertisements for credit cards and other financial products. 

Mint’s developers are continuing to use artificial intelligence (AI) to deliver a smarter, more tailored, and more automated experience with more insight and intelligence.

Instead of passively tracking accounts, the service has improved navigation tools and actively encourages you to improve your money management practises.

Its mobile apps have also been greatly upgraded.

How Does It Work?

Mint is a financial aggregation tool that lets users establish and manage budgets by combining data from bank accounts, invoices, credit or debit cards, PayPal (PYPL) – Get PayPal Holdings Inc Report, and other accounts to track how much money they earn and spend. 

Users can enter information from practically any financial institution in the United States once they create an account. They can also add credit or debit card information, as well as any invoices they want to be alerted of or track.

They can also use the app to keep track of loans and investments, such as 401(k)s and IRAs. Mint uploads several months of data from accounts, including transactions, to assist customers better manage and spend.

It allows users to track cash and ATM transactions, among other things, to ensure that they are keeping track of all of their spending.

Also allows users to categorise different areas of spending once all funds have been accounted for, and the customization feature allows users to tag specific transactions for a more in-depth analysis.

Here are mints primary objectives:-

  • Overview
  • Transactions
  • Bills
  • Budgets
  • Goals
  • Trends
  • Investments

What It Can Do For You?

  • Alerts for bills and other financial goals can be set up by users.
  • Mint’s budgeting tool is its key selling point, allowing users to build categories that manage their personal budgets based on their financial and transaction data and history.
  • Budgets can be set for a week, a month, or other longer time periods.
  • Mint can also send reminder alerts or other warnings if users go over budget in a specific area or are late on a bill payment, which is appealing to users who lack discipline.
  • Mint suggests credit card offers, insurance, and a number of other financial products to encourage saving.
  • Mint also helps consumers manage their 401(k) or IRA accounts and even recommends brokerages if they need to maintain track of their investments. 
  • Mint also gives you data on your debt, spending, income, and even your net worth.
  • The program also includes a free credit score as an added bonus.

How Does Make Money? 

Mint earns money by charging for referral fees.

It collects these costs whenever a customer buys or registers for one of the company’s monetary products.

The following products are supported by Mint: 

  • The master cards are accepted. 
  • Both individual and study loans are available. 
  • Companies like American Express and Bank of America offer financial products like Betterment and Wealthfront.
  • Auto insurance, home, and life.

Mint’s contributions, like their spending habits, are tailored to the client’s financial situation.

As a result, the agreements eventually govern Mint’s ability to profit from any contract it does with its publicising partners.

The company makes money by pairing you with third-party marketers who offer relevant services. 

If Mint detects that you have a high credit score, for example, you may receive an email advertisement encouraging you to join up for a high-end credit card, home loan, or brokerage business. 

Mint may recommend a consolidation loan or a balance transfer card if you have a lot of credit card debt.

Mint does an excellent job of pairing you with services that you might want to use.

If you spend a lot of money on groceries, for example, Mint may recommend a credit card with a high cash back rate on groceries. 

Mint receives a commission if you sign up for one of these services.

Mint operates on a freemium model as a result, allowing customers to use the platform for free.

Also, clients speculated in the early days of the company that Mint would make money by auctioning off a piece of the sensitive data it collects.

These allegations, however, are false.


Creating Financial Objectives 

The Goals page is where you may set both short- and long-term savings goals, such as building an emergency fund or paying down debt. Each goal must be linked to one of your accounts, and each account can only have one goal. This functionality will be useless if you’re trying to save for various goals in one account.


In Mint, a budget isn’t just one plan that covers all budget elements. Instead, each category is treated as its own budget, and you can set aside money for as many option you choose. The program will propose budget amounts for you based on a study of your spending history in each category, but you can change those numbers or establish your own budgets. 

Budgets can be created on a weekly, monthly, quarterly, or annual basis. When working with monthly budgets, you can click a box to have any unspent or overspent money for the month carried over to the next month, which is a valuable option when dealing with fluctuating spending.

Keeping Track of Your Bills 

This software includes a billing feature that keeps track of all of your bills so you don’t have to go into several sites. If you believe you’ll forget, you can set reminders and receive alerts if your balance falls below a certain threshold.

Trends and Reports 

On the trends feature, you can create a variety of personalised reports. Income, assets, consumption, net worth, and net income are among them. All of these should be trackable in the current month, or any other month you choose. These reports can also be filtered by tag, merchant, data type, and so on.

Property Management:

You can enter your assets, such as automobiles, real estate, art, and so on, to determine your net worth. Mint has the advantage of directly connecting with Kelly Bluebook to show you how much your automobile is worth.


Mint and its parent company, Intuit, place the highest focus on security. Mint protects user information with the most up-to-date security technologies, such as strong encryption, multi-factor authentication, and other security protocols. Users can also add a four-digit security code to their mobile device to protect their Mint account. 

From their account, users can manage their mobile access. To keep your information safe, you can switch off mobile access or deactivate your account remotely from your online account if your mobile device is ever lost or stolen.


  • It features budgeting tools that are adaptable and allow you to try out different scenarios. 
  • Equifax provides a free credit score. 
  • It is simple to use. 
  • Financial reports and alerts will be sent to you via text or email. 
  • It is easily adaptable. 
  • It includes transactions that may be downloaded quickly. 
  • If there is any strange account activity or low balances, the app will give you an alert. 
  • On the go, you can establish income and spending categories. 
  • This software makes it simple to seek assistance. 


  • Multiple currencies aren’t supported. 
  • It is not possible to assign several savings goals to a single account.
  • There is no account reconciliation. 


Signing up for, downloading, and using the Mint app is completely free. It also provides a number of paid premium services. For example Mint’s credit monitoring service costs $16.99 per month.

Who Can Use It? 

Almost anyone can use Mint to gain a better handle on their finances.

It’s free, so there’s no need to worry about signing up for a free trial or paying monthly; all you have to do is link your accounts and let the software evaluate your spending habits. 

When it comes to budgeting apps, people who want to be hands-off and those who need to be more hands-on.

Mint truly manages to combine the best of both worlds in this case.

You may be as hands-off as you like once you’ve got a few things set up.

However, if you need to, you can micro-manage every single transaction. 

Overall, anyone interested in saving more money and spending less should give Mint a try for at least a few weeks.


Is Mint Safe? 

Yes, It is 100% Safe. Mint’s parent company, Intuit, uses the most up-to-date security and technology to protect its clients’ personal and financial information. Multi-factor authentication and software and hardware encryption are examples of security mechanisms.

Does Mint Affect Your Credit Score? 

No, It doesn’t affect your credit score. Mint Report is considered as soft inquiries and your credit score or report are unaffected by soft inquiries.

Final Thoughts

There you have it. Mint is a great option to manage your finances. There are lots of features like budgeting, reminders, credit score, setting goals that makes it really efficient. It’s 100% free. You just need to sign up for their service and give it a try. 

Want more? No problem!

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