The downside, though, is the extra step for each income transaction (i.e., first enter the transaction against the “To Be Budgeted” category, and then move the funds to the “budget next month” category). As in, I pay $8.50 a month (annual subscription) for a 5 user Office 365 subscription (that’s with 1TB of online storage for each user, email accounts, web office, and full versions of office). (Compare this with a microsoft office licence… it just doesn’t add up!!). let’s hope that trend continues. Since the report doesn’t work with your “budget next month” approach, how do you easily find all your income (i.e., individual transactions and total) for a given month? Share 6. Suddenly, credit cards are easy. Solution: SAAS (software as a service) and change your algorithm for “success” in personal finance. It’s also a pain for recurring scheduled transactions (e.g., salary) since the moving of the funds from “To Be Budgeted” to “budget next month” can’t be done automatically. I would NEVER connect directly to my bank, but still am not happy with my transactions details (downloaded from banks separately) being uploaded to the cloud just so I can process my own data. I won’t follow. – no forward planning beyond one month? So what do you have to lose? it seems a big part of YNAB’s methodology is focusing on the here and now. Let me go back and answer the three questions I posed above in reverse order. And, obviously, we know you need a budget. Try one of our free live workshops. But this time around, some of my numbers didn’t match up. Those are the funds to budget in that month. I am starting to feel misled that they promised a desktop app but have not delivered. Rather than take the time to troubleshoot, I just started a new budget from scratch. I kept screwing things up. thankfully, i have and it’s an amazing feeling knowing you’re no longer living paycheck to paycheck. In this case, the future is worst than the past. I am exactly in the same boat as you were a year ago. To quote their own words: “the subscription model was a better model for us” – No doubt. I like it because it creates an easily accessible place for tracking reimbursements (it’s in the sidebar). Cash flow. YNAB claims to help you "break the paycheck to paycheck cycle, get out of debt, and save more money". When we started our YNAB budget, we connected our accounts, added our categories. I still prefer using a computer for most of my budgeting, but the new app is nice for some things (namely, approving imported transactions and covering overspending quickly after adding a transaction). If I did enter transactions against the “To Be Budgeted” category first, then immediately move the funds to the “budget next month” category, then when the next month rolls around, I move all the funds from “budget next month” back to “To Be Budgeted”. I thought I was rich! 2. Meaning you can do all your budgeting from your phone if you want. Bad enough the bank accounts themselves are online…. With a quick glance, I can tell how much is outstanding and who owes what. ). It helps me get out of bad habit spending before I get into it. so it appears (at least with the iphone app) that it has some offline support. Thanks! I’m able to delay gratification by setting up categories to fund different aspects of my life (for the most part, I’m no saint). I believe YNAB will continue to evolve and add new features YNAB 4 could only dream of. In fact, we just finished up our first month. That was really helpful. Agree to the Terms of Service and Privacy Policy to continue. NO NO NO NO NO NO. sync for ynab, YNAB in the Steam summer sale : ynab - reddit Save I’m no longer afraid of the mail (bills!!!) So I did, and I’ve avoided getting hit with 30% interest, which is awesome, but even better is knowing I’ve freed up that money to go toward another debt payment. I agree with just about everything you say here. However, since I have to approve the scheduled transactions, maybe I could just do the move whenever I approve them. Thankfully there is at least one out there that is looking promising but not yet quite there! In YNAB 4 you had a couple options. Before, I was always broke, and knew that if I didn’t have money by a certain date I risked late fees, overdraft charges, and returned payments. it’s really similar to how YNAB 4 had a “budget [next month]” category. It’s been almost two years since You Need a Budget switched to a web based, subscription model for their software. Seriously, a big time saver. It does everything most users will need from a budgeting app. One thing that really helped was simply taking the time to go over our monthly statements and finding out what bills came due when. So for the diehard YNAB 4 users, the app will continue working for the foreseeable future. In all honesty, the initial release of YNAB would’ve been fine for me. i’ve updated my post. When I had to separate out the interest and fees on my debt, I realized how expensive debt actually was. Not to mention, no other company has more comprehensive budgeting classes, guides, and resources. Follow YNAB to get support and lots of great ideas on budgeting. Initially, the fee was $5 monthly or $60 / yr. Feel free to post any news, questions, budget strategies, tips & tricks and advice related to YNAB. then when the new month rolls around, i move the money from that category to TBB. We found YNAB on Reddit. There’s $40 in my savings account (it’s a start). Related to personal finance, budgeting, money and financial matters. But shortly after, it went downhill. We put all of the primary monthly recurring expenses in the first Category Group section: I have them labeled and listed by due date. I’d go out, order lobster and shrimp, or spend way more on groceries than I normally would. possible even the desktop? A workaround means the software design is fundamentally flawed. i do agree with you that age of money is a worthless (and confusing metric), imho. If you’re starting out with a new budget and have some questions, we’ve got plenty of helping hands to guide you on your way. Pin. Now that YNAB’s had a couple years to evolve, it’s time to take a second look. that track record makes me comfortable with YNAB having access to my bank accounts. It was at that point I realized my expenses were outpacing my income, and I would just keep going deeper in debt if I kept it up. I wanted to buy Christmas gifts, go on vacation, pay off debt, and I needed to bring in more income to do that. If I’m not careful, I could sometimes run into trouble with balances not lining up with other bills. We were both kind of financially reckless, and knew we should probably give it a try. Just as much as it is important in life, it can be tough too. Don’t get me wrong, YNAB is great software and I understand the support and community aspects of it, but $6.99 a month just seems way too high. So that gives YNAB 4 a good shot at working through 2018. Partly because I believe they’re holding onto the past and not embracing the future. They traded off an additional $10 for a $50 yearly subscription because customers were bailing after 1-2 months on the horrible failure that is nYNAB. Therefore, I simply created a reimbursements category and ACTUALLY PUT MONEY IN IT. There are times I don’t have an internet connection but still need to review my budget. – is a functionally inferior design for users compare to YNAB 4. Right now, I can see the full picture of my finances. Even if I only get halfway there, I’m already doing better than I’ve been doing—up to this point I haven’t had savings. You Need a Budget combines easy software with Four Simple Rules to help you quickly gain control of your money, get out of debt, and save more money faster! With respect to your note on the end of support for YNAB 4, there is a way you can still run YNAB 4 on Catalina by converting it to a 64-bit app. January 22, 2021. $50 per annum per user is a NPV cost paid by a lifetime user of over $1000. It’s clumsy and requires a connection, and BTW what is this “we’ll only look at your data sometimes” crap? So we gave him a call to find out. Very insecure and don’t want to link my bank accounts to such a thing. – no ability to see what my multiple bank balances might look like in a few weeks time based on forecast expenses? and a preview of what you might expect: After seeing this list, we wanted to learn more about Kevin’s story (Right?! If you’re new to budgeting—or looking for renewed motivation—here are Kevin’s highlights from month one (only one month!) on So does EveryDollar. Just a bummer it took longer than expected for search and reports. I want to believe the future will always be better than the past. While nYNAB is newer, it’s in no way better. YNAB Community Forum. and in terms of an online solution, the perks of connecting YNAB to my bank accounts outweigh the very low probability that any of my accounts will be hacked. i’m currently using the method you describe. if you’re on a mac, i’d suggest trying banktivity. Note: If you sign up for a free trial using links in this post, I’ll get a small commission. I tried YNAB last year and gave up as certain features were missing or the way they work had changed. He learned! Once you understand it’s methodology and how to use the app, you come to appreciate how well built the app is. Just want to add my 2 cents as well: One of their “missing” features that has not been added back yet is a desktop app. I am sure there will be a way to do it in YNAB, but it strikes an old time user like me. I read it recently because I thought it worth checking if after nearly 2 years someone actually thought the new YNAB was any good. I resonate with most of your points. I would not move to YNAB 5 even if YNAB was PAYING ME the annual fee. I found this to be a helpful feature. The good news is YNAB Classic was updated to support Dropbox’s new API. Quick budget options like budgeting the average amount spent over the last year in a category. In fact, YNAB claims that new budgeters save an average of more than $6,000 in their first year with the program. If you’re brand new to YNAB and it’s methodology, I would still recommend YNAB. hope YNAB4 works out for you! so i bet that’s why they don’t let you budget too far in advance. But more often than not, I had the same balances so reconciliation was a breeze. with the week's best budgeting wisdom and inspiration. This was probably one of the more common knocks against YNAB 4–it didn’t automatically import transactions from your financial accounts. Are you going to upgrade or look for YNAB alternatives? One piece of evidence that this new SAAS, method and interface isn’t doing all that great is the yearly subscription. glad you found the review helpful. Because YNAB has digged a hudge hole and is going to fall into it. Aside from adding easier goals, it’s still a very viable product. Quicker reconciling because of auto-importing of transactions. They believe the best days are behind them. It’s because I would look at my checking account and see one number. YNAB Web Quick Start. There is more awareness of my spending habits. I used YNAB and YNAB 4 side-by-side for about a month and a half in order to answer these questions: Well, here we go. Not long ago, we highlighted YNAB’s personal finance app in our blog about budgeting apps. i’ve been online since the late 90s and i’ve _never_ had a hacked account cause me any issues. ;) Where other budgeting apps feel like Honda Accords (they get the job done), YNAB feels like a Ferrari (it’s pretty and high-performing). I know that’s (typically) not good budgeting practice but you’d be surprised how many valid uses there are for it! I did save my YNAB 4 data in a separate budget though so I could reference later if needed. It’s so commercialized (designed to sell you stuff) and was definitely not built for budgeting. A discussion subreddit for popular budgeting software You Need A Budget. One caveat. 39 articles Credit Cards & Debt. Your email address will not be published. Financial Wisdom Forum Mint has this feature. The tool provides an account-level savings target to help you grow your savings faster. Thanks, that’s also an interesting idea. Then we pulled together all our debt and set a date to have the credit card debt paid off in just under two years. You just click on a category balance and tell it how much money to move where. They are passionate about helping people gain control of their money. If you have enough set aside in an emergency fund and live on last month’s salary, you’re set. Yes, that would make it show up correctly in the report. so like you suggested, i took some money from my emergency fund and funded my “to be reimbursed category.” anytime the category is less than that amount, i know i have money waiting to be reimbursed. They try a budget for a few weeks or a few months, and they’re getting discouraged because they don’t feel they’re getting out of debt quickly enough. thanks for the heads up. Hopefully you have better luck importing than I did. YNAB makes it a lot easier to save towards specific category goals. The rest should be earning a decent return in a longer-term investment. How Ben Paid off $57k & Finally Bought His First Home, How Sydney’s Family Paid off $15k in Credit Card Debt in Six Months. it does seem with your workflow, YNAB may not fit your needs compared to YNAB 4. i do hope YNAB 4 continues working for a long time for those that don’t feel YNAB is worth the recurring expense. We were both kind of financially reckless, and knew we should probably give it a try. Millions and MILLIONS of people’s information exposed by hacks. Walling off current income to next month was the most crucial of the rules, and they simply erased it from existence. There are three ways to use them. With a year’s worth of usage, I can say YNAB adds enough value to justify the recurring expense. can you recommend any budgeting apps that don’t store data in the cloud? I was just too stubborn to adapt my existing budgeting process. Yep the same for me … Im currently sticking with ynab4 but seriously thinking about switching to Banktivity despite that it doesn’t do budgeting as well … a one off cost where I know what I am working with without the need to be on line .. and with much better reporting/drill downs etc This is human behaviour 101 when it comes to system design of any kind. I spent the better part of my twenties racking up debt. I’m fully aware of what I’m spending, what my debts are, and how bad I’ve screwed up financially. – no carry over expenses? The “Income v Expense” report will show no income for those transactions. I’m here because I want an OFFLINE budgeting software. – focuses so much on the cloud that it reduced basic functionality to get there so far i haven’t been bit by any inappropriate use of that data. Except all that debt and stress? at least for me, i think $45/year (the lifetime discount for YNAB 4 users) is absolutely worth the cost. Brandon hits the nail on the head. I also paid off a zero-interest credit card that I had fallen behind on. For example, expenses you plan on being reimbursed for. Recently I had to update my credit card information with seven different companies, but because of YNAB, I did it all in less than 30 minutes—and it wasn’t stressful. And don’t get me started on Mint. If I have to use a workaround I will end up not using the software and not budgeting, and therefore losing money. Somehow, they’ve managed to make it more important than it should and now it’s even easier to “borrow” on your credit card. YNAB won’t let you move to the next month with a negative balance. And that changed everything—I wasn’t stressed at all. unfortunately, not too familiar with windows-based alternatives. I haven’t done this in almost 10 years. I could’ve easily found my “red arrow” workaround back then but I didn’t want to. Related to personal finance, budgeting, money and financial matters. Required fields are marked *. Alex, I’m a bit late to the discussion. however, in your case, would inflowing the income to TBB first and then immediately moving it to the “budget next month” category solve that issue? If it’s off, the reconciliation process is similar to YNAB 4 and requires some manual work. If you upgrade, there is a way to import your YNAB 4 data into YNAB. However, I know there’s still a vocal contingent that will ride out YNAB 4 until it dies. if people have the surplus cash to do something like that, i think it’s my new recommended approach. All your income transactions will not be against the special built-in “To Be Budgeted” category but rather your non-special “budget next month” category. 3. While it’s the previous version, the new version fails miserably. When they launched their new service they clearly stated they would put out a desktop app in the future. unfortunately, i don’t know of a way since YNAB only lets you see one month ahead. When I first tried the new version in January 2016, there were significant gaps in features that prevented me from switching. You mentioned YNAB 4 is the past. The rest of your dollars should be either given jobs or invested once you reach this point. thanks for sharing! I will stick with YNAB 4 for as long as it works and then I’ll move to something else or write my own software and sell that because there will be a gaping hole in the market for the functionality of YNAB 4.