However, you also have the option to add your data manually. When you link your accounts, information from those accounts is automatically imported to your YNAB account. Link any bank checking or savings account to make tracking your money easier. You can start setting up your budget by adding line item expenses and inputting your income amounts. Once you’ve answered these questions, it’s time to set up a budget. Next, it will ask you whether you’re budgeting alone or with a partner as well as if your income is fixed or variable. When you’re first getting started with YNAB, the site will ask you why you want to use the tool.ĭo you want to pay off debt? Break the paycheck-to-paycheck cycle? Save for a big purchase? Choose one or more of the six available options. Here’s a brief description of what you’ll need to do when you sign up. The program is set up to walk you through each step. Users outside the country have reported issues with syncing their bank accounts.
Whether you’re a first-time budgeter wanting to start from square one or an experienced budgeter looking to step up your game, YNAB has something for you.Īdditionally, the app works best for people within the United States. YNAB is for anyone who wants to get a handle on their money.
The software even includes a comprehensive learning and workshop section to help you get educated on various personal finance topics. It’s grown into a full-fledged budgeting tool that can help just about anyone. Today, the YNAB software includes apps for Android, iOS and even Alexa. Money was tight, so Jesse developed a money plan to help them stay on track despite their limited income. Jesse and his wife, Julie, were college students who had recently married.
YNAB for Android was released in September 2011.YNAB stands for “You Need A Budget” and is a budgeting tool that was created by Jesse Mecham.
A version tailored for iPad and including budgeting support was released in 2014. It is not a standalone budgeting application but is instead designed to complement the YNAB for Desktop application. YNAB for iPhone was released in 2010 and runs on the iPhone, iPod touch, and iPad.
YNAB 3 (released December 2009) ran on multiple platforms using the Adobe AIR runtime, and previous versions included a Microsoft Excel/ Calc spreadsheet implementation (dubbed YNAB Basic and discontinued in July 2009) and a Windows-only executable under the name YNAB Pro (discontinued in December 2009). Version 4 was maintained through 2016, and the company ended support for Version 4 in October 2019. Storing the budget file in Dropbox allowed synchronization between the desktop and mobile applications.
Version 4 was a desktop-based application available for Windows and Mac OS, with apps for iPhone and Android devices. The previous version, YNAB4, was released in June 2012. The software is updated multiple times a month to add new features, tweak existing ones, and improve security and back-end functioning. The latest version, dubbed "The New YNAB" or "nYNAB", was launched Decem as a web-based application, with apps for iPhone, iPad, and Android devices. Students who verify their status by providing a school document receive their first year free.
After the 34-day free trial ends, users pay $98.99 per year, or $14.99 per month. The platform also has several open-source add-ons that can expand on YNAB's features. The software also displays financial reports to keep users informed about their finances at a glance. Users can either import transactions automatically from their financial institutions or input them manually.
Over time, users are encouraged to "age their money", accumulating savings and watching their money grow. When overspending occurs, the app encourages users to move money between categories to "roll with the punches" if more funds than allocated are spent in a category. It encourages users to be flexible in their spending. The app encourages users to consider recurring expenses every month to prevent spending "surprises" and break the paycheck-to-paycheck cycle. Each dollar is allocated to a specific purpose, such as annual car insurance payment, long-term housing repair fund, college savings, etc. The general theory of YNAB is to "give every dollar a job". YNAB is a personal budgeting software platform that can be used across desktop computers, the iPhone and Android operating systems, iPads, Apple Watches, and the Amazon Echo system.