YNAB Review 2023: A Principles-Based, Powerful Budgeting Tool

Several readers have expressed their love for the download-able budget software, You Need a Budget (YNAB). I gave it a spin. Here’s what I learned using the popular budgeting software/app.

YNAB is what I would call a zero-based budgeting tool. The software allows you to “give every dollar a job” and get beyond living paycheck to paycheck. I would describe it as a principle-based, straightforward budgeting tool with an easy-to-use (and enjoyable to look at) interface. Here’s a look at the budget function:

YNAB is Not a Complete Money Management Tool

Something I quickly discovered about YNAB is that it isn’t a well-rounded money management tool like Quicken or Mint. But it’s not really trying to be that. YNAB is a budgeting tool. The creators really understand the psychology behind budgeting and “getting ahead,” and they incorporate that into the software.

For this reason, YNAB isn’t for the person with many stocks or real estate to track. Nor is it really for someone with a small business to keep track of. It’s not personal accounting software, plus budgeting. It’s simply budgeting software.

YNAB’s 4 Rules of a Money Management Methodology

You Need a Budget is built on four principles, or rules, as they call them. They are:

1. Stop Living Paycheck to Paycheck
2. Give Every Dollar a Job
3. Save for a Rainy Day
4. Roll with the Punches

It’s these four rules that set YNAB apart from the competition, I believe. If you are a Dave Ramsey fan and belief in the power of the zero-based budget, then this software is right up your alley.

Read more about YNAB’s four rules to budget by.

YNAB has a Passionate Following

Check out this recent comment from a reader,

“I have YNAB 3 (beta), and I cannot say enough about this budgeting software. IMO it is the BEST user-friendly budget software I’ve ever bought. It’s worth every penny. I think the four rules are the foundation from which to go by when starting a budget.” – Jo

YNAB Community and Personality

There’s much more to the YNAB website than a download button. The creator of the software, Jesse Mecham (@jessemecham), has developed a large set of online resources to help you.

There’s a blog to which he contributes to. A series of Whiteboard Wednesday posts where he shares specific budgeting methods and tips—the very real stuff. Also, there are support forums, live online classes, an online university, and several videos to view showing you how the software works.

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This software looks like the real deal.