![]() ![]() The app provides you with some suggested categories, but it doesn't restrict you to those categories. When you get started, you'll connect your accounts and then start building your budget. You Need a Budget syncs with your financial accounts (banks, credit cards, investment accounts) for convenience. As the age of your money grows, so does your overall financial situation. You should be spending money that is at least 30 days old. You'll have the flexibility to adjust your budget if you overspend in a particular category. Set money aside each month towards your higher costs that don't occur every month (like car repairs or Christmas gifts). This helps you take complete control over your money rather than spending on a whim or living without a plan. It helps you create your ideal budget, so you're in charge of how your money is spent instead of simply looking at the ways you're already spending money. While some other budget apps are more reactive and focus on monitoring your expenses and categorizing them, YNAB takes a more active or aggressive approach. With a history dating back to its launch in 2002, YNAB has helped thousands of people control their finances. It's completely flexible, so you can set up the budget categories you need, assign specific amounts to each category, and adjust your budget as life changes. You Need a Budget (YNAB) allows you to create a personalized budget based on your financial situation. In this You Need a Budget review, we'll take a detailed look at one of the leading apps for budgeting. Budget apps can add a lot of convenience to your life. There are several different ways you can create a budget, including pencil and paper or a spreadsheet, but using an app is a common choice. You'll know where your money is going and be able to adjust how you spend based on your priorities. Setting your budget and tracking expenses will help you to take control of your finances. As you download/enter transactions, the amounts are deducted from their respective category balances.If you're looking to take control of your finances, creating a budget is one of the most basic and effective things you can do. ![]() In either case, any inflow of money is tagged “to be budgeted” and from this sum you can allocate amounts to your spending and saving categories. You can choose to direct import transactions from your bank or enter them manually. YNAB makes it easy to live by these rules with its category-based interface. It’s a lofty goal, but as YNAB says it will keep you “living far, far away from the financial edge.” Ideally, you should shoot to live this month on last month’s income. YNAB allows you to be nimble and easily move money from a budgeted category to cover unbudgeted spending and stay out of the red.Ĥ) Age your money-Timing your bills with your paychecks is about as easy as aligning the planets. YNAB lets you allocate every dollar in hand to specific spending and saving categories.ģ) Roll with the punches-No matter how well you plan, your budget will inevitably run head first into unforeseen expenses. YNAB proposes you budget for these expenses monthly to even out your cash flow over the year and avoid taking big budget hits during certain months. What typically derails a budget are the less frequent ones, like annual insurance premiums and subscriptions, birthdays and holidays, and your kids’ seasonal sports fees. 2) Embrace your true expenses-It’s easy to see your monthly bills coming.
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