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Bottom line: This paid budgeting app will show you how to better manage your money so that you put every dollar that you make to good use.
iOS app rating | 4.8/5 stars |
Android app rating | 4.1/5 stars |
Cost | Free trial for 34 days. Then $11.99/month or $84/year. |
You Need a Budget, or YNAB, is a popular paid budgeting app. While some budgeting apps only show people what they've already spent, You Need a Budget focuses on zero-based budgeting. The app teaches you to put all of your money to use -- including using your money for expenses, paying off debt, and saving extra money.
You Need a Budget has four rules:
Once you follow these rules and adjust your money management habits, you'll have better control of your finances and you'll be less stressed.
To get started using the YNAB app, you'll do the following:
It's a good idea to gather copies of your bills and financial records so that you make sure you note all of your expenses -- both regular expenses and occasional expenses that you pay. It may also help you to look at past credit card statements and bank statements. While it takes time to get everything set up, it will allow you to use the app effectively.
For many, using this app will result in changing their budgeting habits for good. Our detailed You Need a Budget review will better explain its top features and capabilities.
YNAB focuses on putting every dollar you bring in to use -- whether it's towards expenses, paying off debt, or adding to your savings. This zero-based budgeting approach will result in less wasted money and more money saved.
Many other budgeting apps only send alerts that you've gone over budget after you spend the money. YNAB teaches you how to be in control from the start by budgeting your money for the whole month. That way, you know to check each category and see if you have the funds to spend or not. For many users, this results in fewer impulse purchases.
You can feel comfortable using YNAB because it's a secure app. The company has password rules to help users create stronger passwords. All data is encrypted, and if an account remains inactive for a long time, the budget data will be deleted as an extra security measure.
When you use YNAB, you'll be able to connect and sync your financial accounts. This will make it easier for you to truly see where your finances stand. You also have the option to enter your financial details manually.
YNAB encourages its users to put every dollar to work. That means no money gets wasted, and extra money gets saved. Because of this, the app features goal-tracking tools. The app lets you set money aside for the following goals:
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If you're someone who likes to track your progress and also appreciates graphs and charts, then you'll enjoy the reporting features included in YNAB. Some of the reports that you can view include:
Using You Need a Budget regularly will cost you money, but you can take advantage of a 34-day free trial. This will allow you to test out the app's features and decide if you want to commit to the subscription fee. The company also has a free 34-day boot camp that you can do while you're on your free trial.
YNAB wants you to succeed with your budgeting goals. To help you improve your financial efforts, they offer daily 20-minute educational workshops, where you can learn more about budgeting, money matters, and savings tips. These personal finance guides are something that competitor apps don't provide, so it's a perk that stands out.
If you're looking for a free solution, this isn't it. The app does offer a free trial, but after the trial ends, you'll need to pay for it. There are other free budgeting apps on the market, and some paid apps cost less. Those apps may work for you if you don't have a lot of money to spend on paid apps at the moment. However, YNAB really is packed full of features, and that may make it well worth the investment.
You Need a Budget takes time to learn. That's because the app has a unique approach to budgeting with its four rules in place. You'll need to spend time:
It also takes time to learn to follow your plan. If you're ready to make financial changes, this time will be well spent. Just don't expect to be able to set up and learn YNAB quickly.
If you're looking for a budgeting app that will also allow you to pay your bills, this isn't it. You Need a Budget will help you budget for your bill expenses, but you'll have to pay them off of the platform. Other personal finance apps like Quicken allow you to pay your bills within their app.
If you have a bank account outside of the U.S. or Canada, YNAB won't support it.
If you want an app that is free: Mint is a budgeting app alternative that is completely free to use. This app will allow you to see where your money is going, set goals, and get access to reminders and alerts. It also supports linking your financial accounts within the app. But you may want to stick with You Need a Budget if you need a zero-based budgeting app to help you track every dollar.
If you want an app that uses a similar budget system, but is cheaper: Goodbudget is an alternative to consider. This app works similarly with the mindset of putting all of your money to use. It functions as a digital envelope system to help you better manage your spending. It's intuitive, and allows you to plan for regular and occasional expenses. While Goodbudget is a paid app, it's cheaper than You Need a Budget. But you may want to stick with YNAB if you want to connect your financial accounts and don't want to have to rely on manual logging.
YNAB offers a free trial, which is valid for 34 days. After that, a membership costs $11.99 per month or $84 when billed annually.
You Need a Budget is a good fit for people who are ready to make serious financial changes. While this app comes at a price, it will help you improve your budgeting and make sure that you put every dollar you make to good use.
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