Product You need a budget (YNAB)
Minimum Account Requirements $14.99 per month
platform iOS, Android, Web, iPad
Commissions $14.99 per month / $99 yearly subscription
Transparency All resources can be found on their website

What is YNAB?

YNAB is a popular budgeting app that allows you to automate and take control of your budgeting on a monthly basis. Their system is based on the theory known as zero-based budgeting.

Follow the “YNAB Ground Rules” and you can kick bad spending habits, consolidate debt, and prioritize upcoming spending. You do this by analyzing your accounts and then allocating each dollar into suitable budget categories.

Your goal is to cover next month’s expenses with last month’s salary. This process is known as “aging your money” in the personal finance world.

  • The YNAB app is available on desktop and mobile devices
  • YNAB is the ideal option if you want a system that focuses only on budget rather than investments and other frills.
  • You can prioritize upcoming expenses and other financial goals while managing your debt using YNAB.

Get started with YNAB today!

How YNAB was born

Jesse Mecham, a full-time student at the time, created a spreadsheet called You Need A Budget in 2004.

Reviewing other personal finance budgeting tools, he noticed that they were all the same. They had a fixed plan. But Jesse’s YNAB spreadsheet was dynamic and distinctly different in creating a proper budget.

After joining forces with a software developer, Jesse decided it was time to start selling his idea to the market.

Fast forward to 2013 and YNAB started using their own tools for the company’s accounting.

Today, YNAB is run to a small size and is working on building the best personal finance tool software out there.

YNAB Investment Options

Managing your investments requires you to keep track of your donations and any withdrawals from your checking account, as well as monitor the fluctuating market value of the account.

Here’s how YNAB can help you track and save for meaningful long-term investment goals:

  • A monthly goal: Choose whether your monthly contribution stays the same. If your investment is due at a specific time each month, you’ll set a “Spend Needs” goal, enter your monthly contribution amount, choose “Monthly,” and then join your due date.
  • Date Option: The overall goal keeps investors on track to reach their ultimate goal when the investment account has a goal they want to achieve, but you make different contributions month-to-month based on what else comes up.

YNAB prices

Monthly membership for YNAB is $14.99 per month and yearly membership is $99 per year.

There is a 34-day free trial during which you can use all of their services on your devices, receive live coaching, and receive award-winning customer service.

Paying $14.99 a month for a reliable budget question will keep you disciplined and ultimately save you money.

Features of YNAB

Let’s take a closer look at what makes the YNAB budget app unique.

Goal tracking

Easily set spending and savings goals and track your progress with YNAB’s powerful goal-setting features.

Loan calculator

YNAB will determine how much money and how much time you’ll save for every extra dollar you put into debt.

Neat and ad-free

YNAB has no annoying pop-up ads or third-party elements in the application, all while providing a smooth user experience.

YNAB performance

On average, new users can expect to save $600 in their first two months with YNAB. Here’s the kicker, YNAB budgets can potentially save up to $6,000 after 12 months on the app.

It’s well worth factoring in the time and stress that a proper budget saves you. No more freaking out about those upcoming bills.

Strengths and weaknesses

The strengths of YNAB are evident:

YNAB is a popular affordable personal finance tool that has the potential to change people’s lives. YNAB establishes four simple rules for a successful budget.

  • Rule 1: Give every dollar a job to do.
  • Rule 2: Embrace your true spending
  • Rule 3: roll with punches
  • Rule 4: Age your money

If you follow these rules YNAB is sure you can take control of your finances and your life.

One of the weaknesses of YNAB is that they do not allow direct payment of bills. There’s also a learning curve that could confuse a new budgeter.

Final thoughts

Without additional help, most people lack the self-control to budget. YNAB approaches money management in a very systematic thoughtful process.

YNAB personal finance app lets you create and join a plan before spending a single cent. You Need A Budget lets you regain control of your money and gives you a clear view of your spending habits.

Try YNAB and sign up for the 34-day trial period.

Get started with YNAB today!

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