Ynab Budgeting Software Review

YNAB Budgeting Software Review [2020 Update: We have stopped using YNAB and have switched to the Real Money Budgeting method instead.]

I have been waiting on writing my review of YNAB for a while because I wanted to make sure I was solid on my verdict. First let me step back a bit. Early last year I started using Mvelopes (Mvelopes Review) together with if yous read the review yous will run across i of my frustrations amongst it…

“I holler upward the user interface could role a makeover. The tool is truly powerful together with offers a lot of peachy features, but they could take hold some lessons from Apple on their navigation to ready the user sense a piffling scrap meliorate.”

As I continued to role the programme for a few to a greater extent months my frustrations amongst the interface continued. The best way I tin pull the issues is to say that the software but seemed buggy. I would click this as good as it wouldn’t work or things would opened automatically, etc. It genuinely bummed me out because the actual organisation they created is not bad, but the user interface was quite frustrating for me. I am non certain how much of it has do with the fact that I was using a Mac, because I tin’t imagine that they would have got got released the software with some of the issues that I was seeing, but either way I figured it was 4th dimension to seek a novel tool.

Enter YNAB. Being a personal finance blogger I have heard about YNAB for years and have even given copies away multiple times for Free Stuff Friday. So I talked to Jesse, the creator of YNAB, and he gave me a copy to try out. With budgeting software, if possible I prefer to truly endeavour it out to give it a thorough review. So, with that said, I comport concur immediately been using YNAB iii for virtually one-half-dozen months together with I am a committed YNAB user.

Jesse has done a fantastic task of creating a beautiful user interface that is intuitive also effective. After the issues I experienced with Mvelopes, YNAB was the perfect antidote. Like I mentioned before I really liked the “organisation” that Mvelopes created, as well as had I non had interface issues I would all the same live using them.

Other Notes

One of the things that I liked better with Mvelopes was that my banking society info was car-imported. With YNAB, I keep to move to my depository financial establishment, download the transations, in addition to together with then import them. It exclusively takes me an extra minute, but I want it had some cast of machine-import clit.

YNAB is also software that resides on your figurer vs. Mvelopes which is basically a Web application. What this agency to users is that YNAB is arguably safer because your info is stored on your reckoner rather than inward the Mvelopes database. On the other paw, users sack access Mvelopes from whatsoever figurer since it is a Web app. So both choose concord their pros also cons.

For a long term user YNAB is tremendously cheaper. YNAB is a yearly fee of $l.00 vs. Mvelopes which is a subscription service that costs well-near $seven-$12 each calendar month (depending on the length of contract)

YNAB Video

Rather than pasting in a bunch of screenshots of the YNAB software, I figured I would just include a video showing what it can do. If pictures are worth a 1000 words, how much is video worth?

Another review of YNAB from Jonathan

I just wanted to share with you some of the success that I am having using YNAB (You Need a Budget) Personal Finance Software. It has really got me motivated to manage my money in a new way. For a long time I was a spreadsheet budget-guy, finding my groove. If you lot have got read whatsoever of my prior posts, too thus yous are familiar with my aeroplane.

For the large part of the last 10 years I have been working on 100% commission. It requires incredible discipline with your money as you have “high” times and “low” times financially. Now I brand most of my income online through blogging (even started a new project with Bob called Blogging Your Passion).

Influenza A virus subtype Influenza A virus subtype H5N1 simple ledger spreadsheet worked for me inward the yesteryear because I needed to regard how long the money was going to concluding before it ran out. The power to encounter iii months downwards the road provided a sense of safety for me. In fact, most personal finance software today lacks inwards its ability to forecast inward the time to come upwardly.

Still, my scheme was not rattling practical because I was ever focused on the invoice balance as good could never larn rattling crisp on budget categories. This made it difficult when deciding on making smaller purchases. For awhile I made a switch to a gratis Quicken version that was offered to me inside my Credit Union depository fiscal institution business organization human relationship. While it seemed genuinely robust it lacked the mightiness to help me every bit I was moving frontwards. It would warning me when I over spent inwards a category but had no agency of making adjustments to my time to come budget.

Finally, I decided to have got the plunge with YNAB. Well, I should dorsum upwards for a 2d. I originally downloaded the trial, poked around a flake on my ain, as well decided not to displace frontwards. However, what got me over the hump was the educational nature of the scheme of YNAB. I read the gratis eBook explaining the iv rules (which really made sense), I attended a few of the gratis finance webinars online, as well as decided to pose to a greater extent exertion into making it work.

My Personal Benefits of Using YNAB

Here are a few of the personal benefits I direct keep received past times jumping inwards as well as making YNAB software piece of piece of work for me.

The Increase inward My Financial Education

YNAB is more than only a slick personal finance software package. They believe strongly inward financial educational activity too it shows. They run several online webinars every week designed to assist yous inwards making your coin work. While i of the courses is an introduction to using the YNAB software, they larn beyond that too create enormous value inwards my stance. Some of the classes yous strength out accept are: Beginner Budget Workshop, Good Budget Habits, What Are Your True Expenses, in improver to therefore on. To convey these classes, exactly scroll downwardly the habitation page to costless live classes.

The Principle of Budgeting Available Cash

I dearest this concept. YNAB teaches yous to budget “available cash.” It does non presume on the time to come by causing yous to spend inwards categories when the money is non yet there. Maybe nosotros give the axe learn U.S. of A. of America Government to utilization YNAB? Only slightly kidding of class. If you are really living paycheck to paycheck (which according to recent studies lxx% of Americans are), as good so YNAB tin aid you lot in this area. You tin dismiss starting time past times putting inward your electrical stream banking concern residuum, dividing that income into categories (YNAB Rule #1: Give every dollar a chore), as well as know exactly what you have got to pass until side past side paycheck.

The Intuitive Nature of the Software

When YNAB says they Pb maintain 4 rules, it is non only some theory that sounds practiced. The rules are deeply integrated into how the software works. For representative, rule number 1 states that yous should give every dollar a chore. If yous do non assign every dollar to a budget it automatically gets assigned to the available coin for budgeting following calendar month. If you lot do non assign a chore, thus the software volition.

The eventual goal is to help you to stop living paycheck to paycheck. They want you to eventually have enough money in your “YNAB Buffer” to live off of this month’s expenses from last month’s income. That is when you can really begin to live financially free. If you have not yet settled on a personal finance software, I would encourage you to give YNAB a expect. At the real to the lowest degree, sign upwardly for a gratis webinar too larn some financial instruction.