You Need a Budget or (YNAB) is at the core of our family finance management. Since we started using it a few years ago we’ve paid down tons of debt, established a robust emergency fund, and are on track with our retirement funds.
YNAB is a web-based software service that works through a web browser and phone and tablet apps. The philosophy behind the software is that “every dollar has a job.” After you get your budget categories all setup you then take every dollar of income and assign it to each category. You can add all your bank and credit card accounts then add transactions manually or have them automatically imported if your institution is supported. The key is keeping your categories from turning red, which is what happens when you overspend (yellow, if you overspend a credit card).
There’s a bit of a learning cure but there are a ton of help articles, videos, workshops and the official YNAB book, which goes in-depth on the philosophy behind the model. You can also join the official Facebook group where you can seek help and get tips and tricks from thousands of YNAB users.
I can’t say enough good things about YNAB, it literally changed our lives.
Your first 34 days are free and then it is $84 for an annual subscription, however, it is the best money you’ll spend all year.
You can click here to sign-up and both of us will get an extra month free.
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