YNAB
Developer(s)Jesse Mecham
Initial release2004 (2004)
Stable release
5
Operating systemWindows, OS X, Android, iOS
TypePersonal finance
LicenseShareware
Websitewww.ynab.com

You Need a Budget (YNAB) (pronounced /ˈwaɪnæb/) is an American multi-platform personal budgeting program based on the envelope system. It is available via desktop computer or mobile app. The software was developed in 2004 by Jesse Mecham, while he was in college pursuing his master's degree in accounting after an experience where he and his wife had no money and needed to improve their budgeting.[1][2] It evolved from a spreadsheet that he created for the budgeting process.[3]

Overview

The software encourages users to follow four principles: "Give every dollar a job", whereby each dollar is allocated to a specific purpose; embrace true expenses so that there are no surprises; "roll with the punches", i.e. being flexible when there is overspending; and "age your money", keeping money in your budget without immediately spending it.[4][5][6][7]

Users can either import transactions automatically from their financial institutions or input them manually. The software also displays financial reports to keep users informed about their finances at a glance. The platform also has several open-source add-ons.[8]

Awards and recognition

YNAB has been named one of the best budgeting apps by U.S. News & World Report, Kiplinger's Personal Finance, CNN, HuffPost, CNBC, and hundreds of other financial reporting outlets.[9]

See also

References

  1. ↑ "YNAB has the most devoted following of any budgeting app". Quartz. March 24, 2020.
  2. ↑ Brennan, Chelsea (November 2, 2018). "Review: Should you budget with YNAB?". MassMutual.
  3. ↑ ARNOLD, CHRIS (December 21, 2022). "How to spend less money, starting with a budget". NPR.
  4. ↑ Everett, Anna (July 7, 2022). "My favorite budgeting app: You Need A Budget". Medium.
  5. ↑ CROSS, MIRIAM (March 8, 2018). "The Power of Living Within Your Means". Kiplinger's Personal Finance.
  6. ↑ Yakal, Kathy (October 11, 2022). "YNAB Review". PCMag.
  7. ↑ Wilhide, Brendan (November 4, 2010). "You Need a Budget for Mac". Macworld.
  8. ↑ Game, Shannah Compton (December 10, 2014). "4 Must Have Money Saving Apps for 2015". HuffPost.
  9. ↑ "You Need a Budget". Bentley University. January 8, 2015.
  10. ↑ Ryan, Kevin J. (December 25, 2022). "If You're Serious about Budgeting, Try This App". The Wall Street Journal.
  11. ↑ Payne, Kevin; Foreman, Daphne (March 7, 2022). "YNAB Budgeting App Review". Forbes.
  12. ↑ Rodríguez, Norma. "5 Best Budgeting Apps". Money.
  13. ↑ Henry, Alan (August 9, 2011). "Most Popular Personal Finance Software: YNAB". Lifehacker. Gawker Media.
  14. ↑ Pinola, Melanie; Tepper, Taylor (July 25, 2023). "The Best Budgeting Apps and Tools". The New York Times. ISSN 0362-4331.
  15. ↑ DORE, KATE. "Best Budgeting Apps". Investopedia.
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