YNAB explained

YNAB
Genre:	Personal finance software

You Need a Budget (YNAB) (pronounced) is an online personal budgeting program based on the envelope system developed by a privately owned American company of the same name. It is available via any internet browser or a mobile app.

History

The program was initially developed as standalone software 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] In 2015 they changed their licensing model to Software as a service.

Overview

The service encourages users to follow four principles or "rules":

1. Give every dollar a job: Each dollar in a budget is allocated to a specific purpose. This concept is also called zero-based budgeting.^[4]
2. Embrace true expenses: All expenses are planned for, so that there are no surprises.
3. Roll with the punches: Being flexible when there is overspending.
4. Age your money: Keeping money in your budget without immediately spending it.

^{[5] [6] [7] [8]}

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.

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]

• The Wall Street Journal - Best budgeting app for hands-on budgeters.^[10]
• Forbes - Best Budgeting Apps^[11]
• Money - Best budgeting app for college students.^[12]
• Lifehacker - Most popular personal finance software.^[13]
• Wirecutter - "Great pick for hard-core budgeters".^[14]
• Investopedia - Best overall budgeting app.^[15]

See also

• List of personal finance software
• Software as a service
• Web application

Notes and References

1. News: YNAB has the most devoted following of any budgeting app . . March 24, 2020.
2. News: Review: Should you budget with YNAB? . Chelsea . Brennan . . November 2, 2018.
3. News: How to spend less money, starting with a budget . CHRIS . ARNOLD . . December 21, 2022.
4. Web site: Estes . Adam Clark . 2024-08-08 . You need a budget. But do you really need to pay for one? . 2024-08-08 . Vox . en-US.
5. News: My favorite budgeting app: You Need A Budget . Anna . Everett . . July 7, 2022.
6. News: The Power of Living Within Your Means . MIRIAM . CROSS . . March 8, 2018.
7. Web site: YNAB Review . Kathy . Yakal . . October 11, 2022.
8. News: You Need a Budget for Mac . Brendan . Wilhide . . November 4, 2010.
9. News: You Need a Budget . . January 8, 2015.
10. News: If You're Serious about Budgeting, Try This App . Kevin J. . Ryan . . December 25, 2022.
11. News: YNAB Budgeting App Review . Kevin . Payne . Daphne . Foreman . . March 7, 2022.
12. Web site: 5 Best Budgeting Apps . Norma . Rodríguez . Money.
13. News: Most Popular Personal Finance Software: YNAB . Alan . Henry . . . August 9, 2011.
14. News: The Best Budgeting Apps and Tools . . Melanie . Pinola . Taylor . Tepper . July 25, 2023 . 0362-4331.
15. Web site: Best Budgeting Apps . KATE . DORE . Investopedia.