Why a Custom Spreadsheet is a Better Way to Manage Your Money

Last week, news broke that Mint by Intuit is closing its doors on January 1, 2024, leaving long-time users scrambling for a new budgeting solution.

Last year, influencers panicked during threats of TikTok shutting down. While that did not become an immediate reality, it did bring to light the fact that many people have build important foundations - like social lives, management, even successful careers - on free apps, and that’s not always the best foundation for critical info.

Personal finance data is certainly no exception. Mint’s closure is another example of why building foundations on “borrowed land” is risky.

I personally used Mint for over 10 years to track and monitor spending and see my financial picture all in one place. For the most part, I loved it for the convenience. But I did not like how it seemed to disconnect me with my spending. I’ve found that for me, hands on engagement is key to responsible management. So I stopped using it as heavily last year in favor of the customization I could tailor and personalize myself in Excel & Google Sheets.

Despite this, the news still hits hard, and I was a little saddened to have to download of my 2012-2023 data from the app.

In the face of Mint's impending shutdown, the lesson is clear: relying solely on third-party apps for essential aspects of our lives - like personal finance - can have downsides, and our foundations are best managed on solid ground. While Mint served as a convenient tool for managing finances, its demise serves as a reminder that customizable solutions, like personalized spreadsheets, offer greater control and security.

By taking control of our financial management systems, we can navigate uncertainties with confidence, ensuring our money management remains resilient even in the face of unexpected app closures.

Interested in taking control with your very own customized budget? Set up a free consultation or send me a message for more details!

And take heart, fellow Mint users. Life happens, things change, and we pivot.