They encourage users to be flexible with their budgeting. Life happens, and YNAB doesn’t want you to be stressed out when it does. YNAB coaches users to make categories for everything from car breakdowns to holiday gifts to home maintenance so that you never have to worry about where the money will come from – it’s there. It’s why property taxes can be a shock to the system or how we somehow forget the month where 6 of our friends have birthdays until it’s staring us in the face. We, meaning humans in general, are very, very good at remembering our weekly and monthly expenses and then forgetting the rest. You’ll know whether you should get takeout tonight-because you’ll be able to tell if you have money in your “Takeout” fund (or whatever you choose to call it-more on customization later! You make a plan when the money comes in, and then all you have to do is follow the plan. This is basically the envelope system in a nutshell: when money comes in, you give every single dollar a role.Įven if that role is a category called “Things I Forgot to Budget For” (which is totally valid – it’s YOUR budget!). Their entire system is built on 4 key principles: Obviously this system is much more convenient when your envelopes are digital as opposed to the paper kind!
You Need a Budget is based on the envelope system-a cash-based system where any incoming money is doled out into labelled envelopes (gas, groceries, rent, etc) so that it’s there when you need it.
We’ll look at the pros and cons, and we’ll compare YNAB with Mint, another top-rated budgeting platform.īy the time you’re finished reading, you’ll have an idea of whether YNAB is the budgeting app you’ve been waiting for. In this You Need a Budget review (or YNAB, pronounced why-nab), we’ll walk you through YNAB’s philosophy and features. That feels like a tall order, but with hundreds of thousands of raving fans, it’s possible that YNAB actually delivers. It’s tedious and difficult to maintain and just… it’s a one-way trip to the no fun zone.Īpps like You Need a Budget promise to keep you on track and make budgeting fun-ish. What’s one guaranteed way to kill a party?
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