Is Mint's Premium Subscription Worth It?

Managing finances is an essential part of our daily lives. It's a challenge to keep track of expenses, budgeting, and paying bills accurately. Mint is a personal finance budgeting platform that helps users manage their finances. It is the No. 1 most downloaded personal finance app for both the Apple App Store and Google Play Store. It is easy to use and helps users keep track of all financial transactions in one place. It's free to use, but Mint also offers a premium subscription with extra features.

What is Mint Premium?

Mint's premium subscription offers users a range of additional features that can help ease the burden associated with managing finances. This service is currently only available to iOS users, so if you have an Android phone, you are out of luck, but you'll still get to enjoy their free features.

How much does Mint Premium cost?

Mint Premium costs $4.99 per month. To subscribe to Mint Premium on your iOS device, you select your profile icon in the top right of the app, and then select "Upgrade to Premium" in the profile badge.

Mint also offers an ad-free version for $0.99 a month. You can cancel your Mint Premium subscription from within the Mint app.

What does Mint Premium include?

You can use the following features that are part of Mint Premium.

Ad removal

Mint operates on a free-to-use model by displaying targeted ads for credit cards and other financial products. There are no ads and third-party offers outside the Marketplace tab.

The ads can be overwhelming, especially if you have a small phone screen, so this is a big plus. Users who don't require premium features can pay $0.99 per month to enjoy an ad-free experience.

Subscription cancellation

Mint partners with Billshark, which works with your subscription providers to cancel your unwanted subscriptions for you. Billshark is backed by Mark Cuban and according to Billshark, users save on average $150 a year on bills, and the service has a 70% success rate on bill negotiation.

According to the finance app, Mint users have already saved over $2 million with bill negotiation. Billshark negotiates for you and you only pay if it saves you money. It takes 40% of the savings and you get to keep 60%.

Billshark is able to negotiate internet, phone, and cable services, offered by about 34 providers. Billshark does not negotiate utilities, insurance, credit card, or medical bills at this time.

Advanced data visualization

The premium version gives you daily updates on your financial trends and access to specialized analytics, including spending projections and breakdowns for each spending category.

With visual indicators highlighting projected overspending, you can effectively manage your money and improve your financial habits.

Advanced spending graph capabilities

With Premium, you can easily download your account data as a convenient CSV file with just a few taps on your mobile device.

You can also share insightful snapshots of your spending graphs with friends and family, and gain valuable insights by comparing your spending habits to those of other Mint users. The premium version also offers spending projections for the rest of the month based on your past behaviors, helping you budget better.

Mint Premium Arcade

Premium members get access to two exclusive games that offer up saving and spending tips. These games are designed to keep you engaged while imparting practical tips that will help you achieve your financial goals.

Is Mint Premium worth it?

At $59.88 a year, Mint's Premium version is cheaper than many other finance apps, but Mint's free version offers a whole host of features. At the end of the day, It all depends on what you need when managing your finances.

If you don't need the subscription cancellation, advanced data visualization, and spending projections, then the free version of Mint should give you all you need. Currently, bill negotiation through Billshark works with 34 companies, so if you don't have an account with any of them, then you may not need the Premium version.

But if you have a subscription and Billshark can save you more than the annual subscription, it may be worth it. The ads can be intrusive, so the Premium membership is plus. But you can also take advantage of the no-ad version of Mint for just $11.88 a year.

Whether Mint Premium is worth it depends on your specific needs and preferences. Subscription management and advanced visual financial analysis can be useful for some, but others may not have any use for them. The daily notifications on your financial trends can also be handy. Ultimately, the premium subscription is most ideal for those who want a more in-depth overview of their finances and are willing to pay for the additional features. However, those looking to save money may be just as happy with the free version of the app.