YNAB: Everything You Need to Know

Published
YNAB Logo on a purple gradient background

Advertiser Disclosure

YNAB Budget App Explained

YNAB (You Need a Budget) is one of the most popular budgeting apps available today. You’ve likely seen positive reviews on Reddit, YouTube or heard about it from friends. So, what makes YNAB special?

Keep reading to see for yourself (or watch our video review of YNAB HERE).

YNAB Overview

YNAB stands out from competitors as a zero-based budgeting app. This means every dollar you have available is ‘given a job’ or ‘assigned ‘ a specific purpose.

Basically, every dollar you have available in your accounts is assigned to an expense category like groceries, gas, medical expenses and savings. This is especially beneficial for people who strive to be more intentional with their spending and saving.

By the way, you can click here for a free 34-day trial with YNAB.

To maximize the power of YNAB, users are encouraged to connect bank accounts, credit cards, and other financial accounts. This process is done securely using a third-party aggregator and is standard for most modern budgeting apps, allowing your day-to-day spending and income to feed directly into the platform.

How Much Does YNAB Cost?

You may asking “Is YNAB free?” The quick answer is “no.” Although you can start things with a free 34-day trial here.

YNAB currently has 2 pricing options:

  • Annual Plan: $109 USD* paid annually
  • Monthly Plan: $14.99 USD*/month

*USD; plus tax where applicable

What Banks Does YNAB Offer?

Wondering if YNAB works with your bank? The good news is that YNAB uses secure, third-party connections to link with a vast majority of financial institutions. While we can’t list every single option, you can assume most of the big players are supported.

YNAB Vs. Quicken Simplifi

Another widely popular budgeting app is Quicken Simplifi. This may be a better alternative depending on what you are seeking.

Quicken Simplifi offers a less expensive budgeting app which is currently $5.99 USD per month. Additionally, the app provides more in-depth financial charts including investment tracking. However, YNAB is still the best go-to option for anyone looking for a zero-based budgeting approach.

If interested, you can click here to sign up for Quicken Simplifi and take advantage of any promotional pricing.

Pros

  • Community: Access free YouTube guides and a 200,000 member Subreddit for support and tips
  • Reconciliation: The zero-based budgeting aspect of YNAB helps you build a good habit of reconciling your finances on a consistent basis
  • UI/Features: A clean interface and simple features make budgeting less challenging
  • YNAB Together: This feature allows you to invite up to five individuals to join your group while only paying for one single subscription. This is helpful for partners who share finances and want to collaborate on budgeting together.

Cons

  • Learning Curve: YNAB may take a few hours or days until you feel fully comfortable navigating the platform.
  • Limited Forecasting: Due to its emphasis on managing the money you have available right now with zero-based budgeting, the forecasting features are not extensive.
  • Subscription Fee: This service operates on a subscription model so you should consider the ongoing costs associated with using YNAB.

Recap

Ultimately, YNAB remains a top budgeting app option for people who need to keep a close eye on money and enjoy a zero-based budgeting experience.

Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Disclosure: Some of the links in this article may be affiliate links. If you choose to purchase a product or service with the links provided, we may receive a small commission. There is no additional cost to you. This helps support our platform and allows us to continue creating content for you.

Similar Posts