Finance — 4 months ago

YNAB: You Need A Budget Finance App Review!

by Andy A.

YNAB App Review, You Need a Budget Review

YNAB Full Review

Budgeting apps can come in very handy for those of us who need help keeping our finances under check. The YNAB app is one of the most popular personal finance apps you can use to budget yourself and perform different tasks. YNAB joins several other similar apps that you can download to your mobile devices, and if you are not certain which one is best for you, maybe reading this YNAB review will help you decide.

What is YNAB?

YNAB (You Need A Budget) is a budgeting app with a new version available for download on a personal computer and mobile devices. The new online service allows users to sync their bank accounts to keep an eye on their finances. You can choose from several software packages available based on your needs.

YNAB App Review

The app is the brainchild of Jesse Mecham, a CPA that wanted to come up with an effective tool that would help him and his wife handle their finances better. Together, they created a budgeting app that suited their needs. Along the way, Mecham and his wife that not only did YNAB helped them get their financial issues in order, but also that it was better than similar apps that were on the market. Since, YNAB has evolved, and nowadays it allows users to keep track of their income and expenses.

Aside from giving users information about their expenses, YNAB provides them with information about how they can budget themselves better, and what causes their financial difficulties. The insights provided by YNAB are very helpful in discovering what habits users can change to improve their financial situation.

You Need a Budget Review

YNAB App Cost

YNAB app, like other budgeting apps, has a monthly fee that users pay for all the services it offers; as of today, the YNAB app cost is $6.99 a month.

YNAB App

You can download the YNAB app to your phone and mobile devices, and use on the go. The login credentials can be used in both the desktop version and the mobile app.

YNAB Forum

The YNAB forum is intended to help people find the answers they need from people who are in the same situation as they are. The YNAB forum helps the service users ask important financial questions, get budgeting advice, and also find comfort in knowing that you have people that understand you.

You Need a Budget

Is YNAB Safe?

Like with other personal finance apps, to use YNAB, you need to provide your banking information and data about other financial accounts. Using the data, the app will perform all the necessary calculations to set a budget for you and provide you with financial strategies.

The fact that YNAB holds financial data can be a cause for concern, but the software's developers make sure that nothing happens to the data; the data in the app and software is encrypted, meaning it cannot be read. Also, the passwords used in the app are hashed and one-way salted, making it nearly impossible for hackers to find the exact sequences of these passwords. To top it all off, YNAB uses Heoku technology to secure user information, which is the same protection system used by the CIA.

YNAB Vs Mint

When speaking about personal finance app, Mint immediately comes to mind. Many people choose to use the Mint app because it is free, and often compare it to paid per apps. Most of the features in both apps are similar, and the biggest difference when speaking about YNAB Vs Mint is the financial management tool. YNAB's main goal is to plan budgets for users and help them save money.

YNAB App Cost
On the other hand, Mint offers additional finance management tools users can use to manage their money. So, the bottom line of the YNAB Vs Mint battle is that they are both winners. The two apps can help you save money and manage your spending over time. YNAB is the more focused one of the two, so if you are searching for a handy budgeting tool, YNAB is perfect for you.

YNAB Reviews by Users

Users who have tried YNAB provided reviews about the app:

"I use YNAB daily and occasionally Mint. YNAB is definitely my choice. I’ve tried several others, but most have additional fees associated with downloading your account information, as well as either monthly or annual fees. I feel you get a lot of bang for your buck with YNAB, and their customer support is outstanding."

"1. I use YNAB only for expenditure and leave my investments/gains/losses out of it. I just need it to ensure that I save a certain amount each month, which, never mind your income level, is exactly what it does best. When I first started on the YNAB budget, I simply stuck the entire amount of my bank balance till that date into my "savings category" and then the following month, changed the budget for the "savings category" down to the normal monthly levels I wanted it to be.

YNAB Vs Mint

2. The YNAB iPhone app is also just as elegantly designed; it is handy entering transactions as I go; I can keep an eye on the budget even when buying things and of course I don't have to struggle to recall transactions a few days later. The fact that it is so easy, is really the reason why I stick with YNAB and its budgeting habit.

3. Overall the user interface is easy on the eyes and does not have the long-winded aggravating workarounds I remember when using MSN Money. I love the calculator feature within each cell: the calculation starts with the original amount in the cell. A small feature like this makes it so easy to work with organizing tiny amounts and collating them into a larger category. The budget reports as well are easy on the eyes. And I realize that I don't need them often to find out how I am doing.

4. Yes, I prefer entering my transactions as YNAB recommends, instead of auto-syncing them; I find the process is truly easy and logical and gets me hands-on with managing money and understanding how I spend. And the fact that YNAB remembers your payees as well as how you paid for them (which card, or bank account and which category), entering is no pain at all.

5. YNAB really does live up to its large number of 5-star reviews. The design and logic its software reminds me of the iPhone - elegant without fuss."

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