You Need a Budget differs from other budgeting programs because it focuses on the money you have now, not what you spend it on or any hypothetical future circumstances. The point of having a budget is to make your life better in the future, not to deprive yourself of joy right now. Maybe they would, but you would also be miserable if you cut every little luxury out of your life. ![]() You have probably heard that if you stop drinking coffee and going out to eat avocado toast that all of your financial woes disappear. What Distinguishes YNAB From Other Budgeting Software YNAB is easy to learn how to use, even if you are not tech-savvy. Everyone can work in concert to make your financial goals a reality. Keep track of your budget across a multitude of devices, even if they belong to different members of your family. You can even connect You Need a Budget to your Amazon Echo. There is a web version, as well as their app that work on iPhones, Androids, iPads and Apple Watches. YNAB is compatible with most devices and systems. Only spend money on what you have had for 30 days.īy September of 2004, these four rules had become YNAB and Mecham is now the CEO of You Need a Budget.Do not be afraid to adapt your budget to changing circumstances.Break major expenses into smaller, more frequent payments.Before spending anything, decide what you want your money to do.He and his wife came up with four simple rules for budgeting. Neither of those scenarios makes earning or saving money easy, but Mecham was determined to try. In 2003, Jesse Mecham was recently married and working his way through a master’s degree in accounting. ![]() There is no forecasting involved and no living beyond your immediate means. It is a high-tech version of the envelope method that allows you to allocate the money you have right now toward various expenses. While the process is sound, most people do not want hundreds or thousands of dollars stuffed into envelopes laying around their home, so that is where You Need a Budget comes in. At the beginning of each month, you divide all of your cash between the envelopes until the costs are covered, then save whatever is left. With the envelope method, the idea is that you have a collection of envelopes, each labeled with the name and amount of your monthly expenses. YNAB is based on the envelope method of budgeting. Looking to take control of your finances and start planning your path to financial freedom today? Check out The Financial Freedom Blueprint® Course! About You Need a Budget Want to learn more? Read our review of You Need a Budget below. However, YNAB helps identify and prevent unnecessary impulse spending. That is a lot of money, and you are probably thinking if you had that many expenses you could simply eliminate, you already would have. According to the company website, the average new budgeter saves an incredible $6,000 dollars in their first year. ![]() YNAB markets itself less as a software program and more as a miracle. If you have never used it before, you might be skeptical. Over the past 16 years, You Need a Budget has become more than a budgeting program-for many of its hundreds of thousands of users, it has turned into a lifestyle. While it has been around since 2004, it first began receiving significant media exposure when it was voted the top personal finance application by Lifehacker in 2011. You Need a Budget, sometimes also called YNAB (pronounced why-nab), is a budgeting software.
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