Mint was founded in 2006 and offers financial management services that allow its users to keep track as well as connect with their income and expenses. Also, Mint is web-based and free. By becoming a mint’s user, you can create budgets and goals, monitor investments, and track loan balances.
Deductr was founded in 2009 with a sole purpose of helping people keep track all of their expenses to be able to maximize tax deductions. Deductr is not a free tool and to take advantage of this program as well as its mobile app; you have to subscribe by paying a monthly fee of $19.55.
With that much said, both Mint and Deductr are here to manage our finances, and even though Mint is free while Deductr is not, we have to look at the good (pros) and the bad (cons) features. And with that information, you’ll choose the one that suits your choice as well as preferences.
The GOOD Features
It is a free app with several good features, and they include;
- Free Credit Score – By just answering a few questions set you can verify your identity as well as get your credit score for free.
- Monthly Budgets and Goals– With Mint, you can set or adjust your monthly budgets and include all your expenses in different categories. Also, you can set goals on a monthly basis to pay off debts.
- Email Notifications – You’ll receive notifications when you’re nearing or about to exceed your monthly budgets.
- Mobile App – You can track all your finances and pay bills for free via their app.
- Free Advice – Mint has an advice section for the desktop as well as the mobile version for anyone looking to start a new credit line or invest their money.
On the other hand, we have Deductr which is a paid-based subscription platform but with many features to help in tax deductions. They include:
- Expense Tracking- You can automatically upload all your business expenses and income. And this is achieved by connecting or linking directly to the credit card or even the bank.
- Mileage tracking – Deductr has a GPS-enabled software to track and monitor all your travel expenses.
- Time tracking – You can account for any time dedicated to your business to avoid an expensive audit.
- Customized reports- You can set reports to fit your specific needs.
- Mobile app – You can find all Deductr features on a mobile app optimized for Android and iOS devises
- Security – It has 256-bit SSL on its Deductr Pro platform, and hence you can secure all your financial data.
- Support – Deductr offers excellent support such as tutorials, FAQs (community-driven), live chat, etc. It has a Help Center on its Main Menu.
The BAD Features
Both Mint and Deductr have minimal bad features from online reviews.
For Mint, it has limited currencies and does not have a GPS tracking feature. It also does not have a receipt capturing software. It has a 128-bit SSL encryption unlike its counterpart software such as the QuickBooks.
For Deductr, it uses a flat-rate system that does consider the size as well as the needs of any organizations. It has a monthly fee of $19.95 or a yearly fee of $199.00.
Mint and Deductr are online platforms set to help you in managing all your transactions in one place and by doing that you can have a budget that fits your living style. They help you to track all your transactions to be able to plan all your expenses, bills, and savings with ease and quickness.