Tarun Nagar 
Ever felt like your finances were a tangled mess? You’re not alone.
In today’s fast-paced world, managing money can be daunting. Financial apps like Mint offer a simple, intuitive way to track spending, set budgets, and achieve financial goals.
That’s where the magic of a Mint-inspired budgeting app comes in.
I’ve always been fascinated by the idea of creating a tool that could empower people to take control of their finances. Imagine an app that tracks your spending, offers personalized advice, sets financial goals, and even helps you save money. It’s like having your financial guru right at your fingertips.
It’s a thrilling prospect, isn’t it?
In this blog, we’ll guide you through the process to build a money budgeting app like Mint. We’ll delve into the key features, technical considerations, and design best practices that will help you create a product that stands out in the crowded market.
Let’s build your own Mint!
What Is Mint App?
Mint is a personal finance management app that assists users to track their spending, budget, and financial goals. It connects to users’ bank accounts, credit cards, and other financial accounts. Also, it automatically categorizes transactions, helping users to see where their money is going and identify areas where they can save.
Mint also offers tools to help users create a budget and track their progress toward financial goals, as well as alerts to help them stay on track. However, some features of a fintech mobile app development like Mint may vary depending on the country where it is used.
How Money Budgeting Apps Like Mint Work?
Before we dive towards the process to build a money budgeting app like Mint I want you to know about the working of the app. Here is how money budgeting app like Mint works:
1. Link Your Accounts:
Connect your bank accounts, credit cards, and economic bills to the app.
2. Track Spending:
The app routinely categorizes your transactions (e.g., groceries, dining out, entertainment).
3. Set Goals:
Establish monetary desires like saving for a holiday or paying off debt.
4. Analyze Spending:
View unique reports on where your money goes, helping you discover areas where you could cut again.
5. Create Budgets:
Set spending limits for different classes to stay within your financial plan.
6. Receive Alerts:
Get notifications while approaching spending limits or attaining critical financial milestones.
Market Stats On Money Budgeting App Industry
Here are the current market stats of money budgeting apps that are essential to know when developing an app like mint. So let’s have a look at them.
- The market for budget apps was valued at USD 199.70 million in 2021 and is anticipated to grow to USD 288.60 million by 2028 at a CAGR of 5.40 %.
- At a compound annual growth rate (CAGR) of 15.6%, the global market for personal finance software is projected to reach $23.7 billion by 2026 from $10.3 billion in 2021.
- The market for mobile apps related to private finance is predicted to be worth US$2.9 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 15.8% to reach US$12.58 billion by
- By 2034, the paid personal finance mobile app industry is projected to grow at a 15.7% compound annual growth rate (CAGR) to reach US$6.71
- By 2034, the North American market is anticipated to account for 3% of the worldwide market.
- The demand for personal finance apps is predicted to upward thrust hastily in South Korea and Japan, with CAGRs of 16.6% and 16.4%, respectively.
- At a compound annual boom rate (CAGR) of 16.2%, the personal finance software enterprise within the United States is projected to reach $10.2 billion by 2026 from $4.2 billion in 2021.
- A Bankrate survey suggests that 63%of Americans use an internet site or app for budgeting.
- According to an Intuit survey, 70% of Americans said they might be inquisitive about adopting a budgeting software program to help them control their finances.
- From 2023 to 2028, the personal finance marketplace is projected to amplify at a 12% annual charge.
- Personal economic applications are utilized by approximately 100 million people within the US alone.
- With a mean of 20 uses each month, Mint customers are very lively at the app.
10 Popular Money Budgeting Apps Like Mint
The most important requirement to build a money-budgeting app like Mint is knowing its competitors. In this section, I have curated a table in which you will learn about 10 popular money-budgeting apps like Mint.
App Name | Downloads (Estimated) | Rating (Google Play Store) | Launch Year | Available Platforms |
| YNAB (You Need a Budget) | 1 million+ | 4.8 | 2003 | iOS, Android, Web |
| PocketGuard | 10 million+ | 4.6 | 2013 | iOS, Android, Web |
| MoneyGuru | 1 million+ | 4.7 | 2015 | iOS, Android |
| MoneyWiz | 1 million+ | 4.8 | 2009 | iOS, Android, macOS, Windows |
| Wally | 5 million+ | 4.7 | 2012 | iOS, Android |
| EveryDollar | 5 million+ | 4.7 | 2010 | iOS, Android, Web |
| Spendee | 1 million+ | 4.8 | 2014 | iOS, Android |
| Trim | 10 million+ | 4.5 | 2015 | iOS, Android |
| Qube | 1 million+ | 4.7 | 2017 | iOS, Android |
| Money Lover | 10 million+ | 4.7 | 2013 | iOS, Android |
5 Reasons Why Entrepreneurs Want to Build A Money Budgeting App Like Mint
For several compelling motives, marketers are locating it increasingly more appealing to build a money budgeting app like Mint. These apps provide valuable solutions for cash management to both people and organizations. Here are five essential reasons why I want to invest in this idea:
1. Growing Need For Financial Management Tools:
The digital era has changed people’s interactions with their price range. User-friendly, adequate gear to manage spending, create budgets, and make smart economic decisions are in extra demand as more people and corporations embody generation.
A well-idea-out PayPal app development can take advantage of this increasing marketplace and offer a beneficial treatment for a commonplace issue.
2. Potential For High Return on Investment (ROI):
A profitable money management app could make a vast income through several monetization strategies. If you invest to build a money budgeting app like Mint, you must want to include marketing, in-app purchases, subscription charges, and joint ventures with monetary institutions. A massive user base and a top-class provider allow business owners to get a good return on their investment.
3. Possibility of Making a Positive Impact:
To prosper, both individuals and corporations need to be financially literate. Banking IT solutions help users become more financially literate, take charge of their finances, and make clever selections.
Entrepreneurs can build a money budgeting app like Mint that may significantly impact society by providing a tool that assists individuals in achieving economic balance.
4. Scalability Potential:
A well-designed app for managing a budget can comfortably be improved to serve a more extensive user base. Entrepreneurs can build a money budgeting app like Mint and extend their relationships, capability, and geographic reach as the user base expands. It is vital to remember that this scalability can result in long-term achievement and significant sales increases.
5. Competitive Advantage:
Although there may be competition within the AI fintech app market for money budgeting apps, there is room for specific and innovative goods.
Entrepreneurs can establish an aggressive market and draw in regular users by pinpointing particular holes in the market or providing distinct features. Profitability and consistent growth might also result from this.
How to Build a Money Budgeting App like Mint?
Step 1. Define the Problem and Target Audience
The first step in developing a money budgeting app like Mint is to clearly define the problem that the app will solve and the target audience it will serve.
For example, the app may be designed to help people track their expenses and stay within a budget, or it may be geared towards people who need to save for a specific financial goal, such as buying a house or paying off debt. However, hiring experts from a fintech app development company would be best.
Step 2. Research and Analyze the Market
Once you know the problem and target audience, it’s important to research and analyzes the market to ensure app demand and identify competitors.
It can involve reviewing industry reports, surveying potential users, and analyzing the features and pricing of competing apps. Thus, researching will help you to know about the competitors and their strategies.
Step 3. Define the Features and Functionality
Based on the problem being solved and the target audience, the next step is to define the features and functionality of the application. It includes tracking expenses, creating budgets, setting financial goals, and generating reports and insights.
Additionally, it’s important to strike a balance between providing useful features and keeping the app simple and easy to use. Besides, you must look for a banking application development company with outstanding skills and vision to add these features to your app that will benefit your business.
Step 4. Design the User Interface and User Experience
Once the app’s features and functionality have been defined, the next step is to design the user interface (UI) and user experience (UX). It includes creating wireframes and mockups to visualize how the app will look and work, as well as defining the navigation and flow of the app. The visual appearance of the application helps in attracting users.
However, you can hire designers from an experienced mobile app development company who can help design your application. Consider how you’ll convey information to your clients and develop an appealing, simple-to-navigate UX flow.
Step 5. Develop the App
Now that you have designed your application, the next step is to start developing the app. It is the essential step of development. Additionally, your hired fintech app development company will typically involves building the front end (the part of the app that users interact with) using a programming language like Java or Swift and the back end (the part of the app that handles data and logic) using a language like Python or Ruby. It is vital to hire the best mobile banking app developers to perform all the necessary technical development tasks.
Step 6. Test and Debug the App
Now that you have built an application, it’s important to test and debug it to ensure it is functioning correctly and free of errors. It can involve manual testing as well as automated testing using tools like Selenium.
It is essential to know that before you launch the application on the platforms, reviewing with testers and quality analysts will help you in knowing its usability, security, compatibility, and performance.
Step 7. Launch the App
Once the app is fully developed and tested, it’s time to launch it to the public. It typically involves submitting the app-to-app stores like Google Play and the App Store and promoting it through marketing and advertising efforts. Besides, if you want to develop a Peer-to-Peer payment app, taking assistance from dedicated developers will be the best option.
Step 8. Monitor and Update the App
The process does not stop here; it’s important to continuously monitor the application for any issues or bugs and make updates and improvements as needed. However, it can involve releasing new app versions, adding new features, and responding to user feedback.
“Our partnership with Dev Technosys was a financial game-changer for our business. Their banking application development company not only understood our unique needs but also provided innovative solutions that helped us streamline our budgeting processes. The mobile app they developed was intuitive, user-friendly, and has significantly improved our financial management. We’re incredibly impressed with their professionalism, dedication, and ability to deliver a high-quality product. If you’re looking for a reliable and talented banking application development company we wholeheartedly recommend Dev Technosys.”
– Meyoun Shein
Features of a Money Budgeting App like Mint
If you want to create a mobile app like Mint you must know it requires a list of basic to advanced features list to make it successful. In this section I have covered it all so dive straight to know more.
1. Sign in
Sign-in allows users to register their accounts with different social media platforms. They allow you to put all the mandatory information like contact details, email id, etc. within the application.
2. Budgeting Tools
These allow users to track their income and expenses, set budgets for different spending categories, and see how their spending compares to their budget over time. To integrate this feature into your app, you must take assistance from finance App Developers.
3. Transaction Tracking
Users can input their financial transactions manually or by linking their bank and credit card accounts to the app. The app will then categorize the transactions and allow the user to see where their money is going.
4. Bill Tracking and Payment Reminders
Users can input their bills and due dates, and the app will send reminders when a bill is coming due. Some apps also allow users to pay bills directly through the app with the help of payment gateway integration.
5. Investment Tracking
If the user has investments, the app can track the performance of their portfolio and provide information about individual holdings.
6. Credit Score Tracking
Using this feature, users can track their credit score and receive alerts when there are changes to their score. If you want to add a feature to your app like Mint, hiring the best eWallet App Development Services is important.
7. Debt Tracking and Management
Users can input their debts, including student loans, mortgages, and credit card balances, and the app can help them create a plan to pay off their debts.
8. Savings Goals
Users can set savings goals, such as saving for a down payment on a house or building an emergency fund, and the app can help them track their progress and suggest ways to save more.
9. Financial Planning and Advice
Some apps provide financial planning tools, such as retirement calculators, and offer personalized advice based on the user’s financial situation. However, to integrate this feature in your application, hire mobile app developers.
10. Security
Personal finance apps should prioritize security to protect users’ financial information. This might include measures such as encryption, secure login, and two-factor authentication.
11. Ease of Use
A good personal finance apps like albert should be intuitive and easy to navigate, with a clean and user-friendly interface.
How Much Does It Cost to Build A Money Budgeting App Like Mint?
The cost to build a money budgeting app like Mint requires an enormous financial dedication, which varies based on multiple variables. The following table and explanation offer an outline of the essential influencing elements and their anticipated banking app development cost:
1. App Complexity:
Your app’s complexity directly affects the time and cost to build a money-budgeting app like Mint. An exceedingly custom-designed app with sophisticated analytics, integrations, and tailored guidelines may increase the cost more than a fundamental app with important tracking, reporting, and budgeting capabilities.
App Complexity | Cost Range (USD) |
| Basic | $2,000 – $4,000 |
| Enhanced | $4,000 – $7,000 |
| Advanced | $7,000 – $9,000 |
| Premium | $10,000 + |
2. Platform Targeting:
The cost to build a money budgeting app like Mint is stimulated by the number of structures (iOS, Android, and web) you desire to cover. The mobile banking app development cost for various platforms is increasing because extraordinary codebases and checking out are needed.
Platform Choice | Cost Range (USD) |
| iOS Only | $27,000 |
| Android Only | $23,000 |
| iOS and Android | $30,000 |
3. Features and Functionality:
The mobile banking app development cost will rely on the specific features you wish to incorporate. The complexity and cost to build a money budgeting app like Mint are improved by using functions like automatic category, bill reminders, investment tracking, and monetary intention-setting.
To achieve this, it’s crucial to hire fintech app developers who can expertly integrate these functionalities into your app.
Features and Functionality | Cost Range (USD) |
| Basic | $2,000 – $4,000 |
| Enhanced | $4,000 – $7,000 |
| Advanced | $7,000 – $10,000 |
4. Design and User Experience (UX):
A powerful money budgeting app needs a user-friendly user interface, which may increase costs to build a money budgeting app like Mint. While it may improve adoption and the user experience, investing in expert design and UX also raises the cost to develop a mobile app.
Design and UX | Cost Range (USD) |
| Basic | $1,000 – $3,000 |
| Enhanced | $3,000 – $6,000 |
| Advanced | $6,000 – $8,000 |
| Premium | $8,000+ |
5. Development Team Structure:
The wide variety and makeup of your mobile app development services providers can significantly impact the cost to develop a money-budgeting app like Mint.
Hiring developers in-house is commonly an extra cost compared to using a platform like outsourcing to a banking app development company. The selection is based on your app’s price range, schedule, and desires.
Development Team | Cost Range (USD) |
| Small (1-2 developers) | $8,000 – $12,000 |
| Medium (3-5 developers) | $12,000 – $18,000 |
| Large (5+ developers) | $18,000 – $25,000 |
| Premium (Specialized team) | $25,000 – $100,000 |
6. Location of Development Team:
Due to variations in labor costs, the vicinity of your banking application development company may have an effect on the final cost to develop a money budgeting app like Mint.
Budget planner app development company in countries like India or Eastern Europe, in which exertion charges are decreased, can offer greater moderately priced development possibilities.
Location | Cost Range (USD) |
| Low-cost region | $8,000 – $25,000 |
| Mid-range region | $15,000 – $30,000 |
| High-cost region | $30,000 – $50,000 |
| Premium region (e.g., Silicon Valley) | $50,000 – $150,000 |
7. Ongoing Maintenance and Updates:
After your Mint alternatives are released, you may need to put the cost to create a money budgeting app like Mint into regular maintenance, upgrades, and malicious program patches to ensure it runs easily and securely. Your mint app development cost should account for this mobile app maintenance service.
App Store and Maintenance | Cost Range |
| App Store fees and annual renewals | $55 – $100 |
| Maintenance | $2000 – $5,000 |
The predicted overall cost to develop a money budgeting app like Mint, much like Mint, can vary from $8,000 to $27,000 or more, depending on numerous factors. Making educated selections regarding the development manner requires giving a substantial notion of the cost and unique goals.
You might also make money by using budgeting software that works and suits your finances, understanding what impacts the cost to build a money budgeting app like Mint, and working with a dependable fintech app development company.
5 Ways Money Budgeting Apps Like Mint Make Money
Now that you know the cost to create a money budgeting app like Mint it is time to learn about its revenue. For any money budgeting app development, you must utilize these apps use quite a few monetization techniques on the way to maintain their operations and make cash:
1. Subscription Fees
One famous enterprise approach in AI in the banking industry is to offer a premium club plan that provides access to additional benefits like debt management tools, advanced analytics, and investment tracking. Monthly or yearly subscriptions appeal to users who value these premium features and are willing to pay for them.
2. In-App Purchases:
In-app purchases are available in certain money budgeting app development for precise capabilities or offerings. For example, clients may additionally need to pay to interface with different financial tools, export information, or access top-rated reviews.
3. Advertising:
A lot of money was budgeted for app development for monitoring price range display customers ‘ designed adverts. These advertisements, which blend in perfectly with the money-budgeting app development content material, can be native, interstitial, or banner advertisements.
When you develop a banking website & web app, integrating such ad strategies can help generate substantial revenue while enhancing user engagement.
4. Partnerships with Financial Institutions
Financial institutions such as banks and credit unions are key partners in mint money budgeting app development. These collaborations often result in co-branded products, referral fees, or data-sharing agreements, all of which can contribute to revenue generation.
5. Data Licensing:
Utilizing blockchain in the banking industry, can accumulate and analyze user data to better understand customers’ financial habits. Financial institutions, research firms, and marketing companies may find this data valuable. Certain best money budgeting app developers can license this data through blockchain technology to generate additional revenue.
Tech Stack For Money Budgeting App Development
In this section, I have compiled a list of amazing technology stacks that online bookkeeping app development services providers utilize to build a money-budgeting app like Mint.
Component | Technologies |
| Frontend | React Native, Flutter, Swift, Kotlin |
| Backend | Node.js, Java (Spring Boot) Python (Django/Flask), |
| API Integration | GraphQL, RESTful APIs, SOAP |
| Database | SQLite, PostgreSQL,MySQL, MongoDB, Firebase |
| Analytics | Google Analytics, Firebase Analytics |
| Authentication | OAuth, JWT |
| Push Notifications | Apple Push Notification Service, Firebase Cloud Messaging |
| Version Control | Git, GitHub, Bitbucket |
| Deployment | Apple App Store, Google Play Store, TestFlight, Firebase App Distribution |
Why Regular Updates Are Crucial For Money Budgeting Apps?
Regular updates are vital for money budgeting apps like investing.com:
- Feature Enhancements: Introduce new functionalities.
- Performance Improvements: Fix bugs and optimize performance.
- Security Patches: Protect against vulnerabilities.
- Regulatory Compliance: Stay updated with changing regulations and industry standards.
For 20% of the development cost, Dev Technosys provides mobile maintenance and services. Our wallet app development company can help you maintain the functionality, protection, and user satisfaction of your money budgeting software.
Hacking Your Finances: The Blueprint for a Mint-Inspired App!
With over 14 years of know-how, Dev Technosys is a top budget planner app development company that may assist you in mobile wallet development that may compete with Mint. From ideation and layout to development and launch, our ewallet app development company lets you each step of the manner.
Our strong point is creating cutting-edge, intuitive apps that might be tailor-made to your precise needs and objectives. Together, let’s make a money budgeting app like Mint that allows people to take rates in their cash and be successful financially.
Frequently Asked Questions
1. How Much Does It Cost To Build a Money Budgeting App Like Mint?
- Mint app development costs range from $8,000 to $27,000.
- Pricing depends on features, fintech app development company size, integrations, and platform choice.
- Advanced analytics and security increase the overall mint app development cost.
- Custom requirements may raise the Mint app development cost further.
2. How Long Does It Take To Build a Money Budgeting App Like Mint?
- Development typically takes 4 to 9 months.
- Timelines depend on the complexity and feature set of personal budgeting apps.
- Faster delivery is possible with pre-built modules.
- Customizations can extend the timeline.
3. What Are the Benefits of Building a Money Budgeting App Like Mint?
- It helps users manage finances and track expenses.
- Enhances user engagement with real-time insights.
- Automates budgeting, savings, and financial planning.
- Offers scalability for long-term revenue growth.
4. Why Should You Choose Us To Build a Money Budgeting App Like Mint?
- Expertise in fintech and secure app development.
- Tailored solutions to fit your business model.
- End-to-end service, from concept to post-launch.
- Focus on user-friendly and secure platforms.
5. How Can You Monetize a Money Budgeting App Like Mint?
- Offer premium subscriptions for advanced features.
- Partner with financial services for commissions.
- Implement ads or sponsored content.
- Charge fees for personalized financial advice or services.
6. How Much Will It Cost To Maintain a Money Budgeting App Like Mint?
- Maintenance costs range from 15-20% of the initial development cost annually.
- Includes security updates, bug fixes, and new features.
- Costs of create a budget app involve maintenance cost with traffic and data complexity.
- Regular updates ensure optimal performance and compliance.
