Business Insider's personal finance team compared YNAB to the best budgeting app and found it is an average option. It is best for consumers looking for a hands-on budgeting experience. However, it costs more than other budgeting options on the market and has fewer features, which is why it isn't among our top picks.
- Link bank accounts
- Create a budget
- Available on computer, phone, or tablet
- Reports for spending and net worth
- Track individual savings goals
- No free plan
YNAB may be a good option if you are interested in using the zero-sum budget strategy. It also may be worthwhile if you want to use a platform that's available through a computer, phone, or tablet. You'll want to consider other options if you do not want to pay a subscription fee, though.
YNAB AppYNAB Overview
YNAB stands for "You Need a Budget" and uses the zero-based budgeting method, which has you allocate every dollar earned to an expense, savings goal, or debt. The app divides your money into three buckets — bills, wants, and needs, and then lets you assign budgets for individual line items within those, like your mortgage, your retirement goals, an upcoming vacation, or your kids' back-to-school clothes. You can then track and adjust your spending throughout the month to stay on budget.
The YNAB app is best for consumers looking to do a deep dive into their budget and really get involved in its management. The tool requires you to regularly check your expenditures, categorize your transactions, and assign funds where needed. It's not ideal for someone wanting a fully hands-off budgeting solution.
YNAB Benefits and Features
One big advantage of YNAB is that it connects with your banks and credit cards, automatically importing your account info and transactions. This data syncs across all devices you've installed the app on, too — tablets, Apple watches, phones, and even Alexa devices.
Another perk is that you can also share your subscription with up to five people. This makes it easy for your whole household to stay on track and participate in the budgeting experience.
Finally, the app comes with lots of handy visuals that make it easy to see where your money's going and how much room you have left in each spending category. There are also clear alerts when you're on track to exceed your budget in any area, and you can even generate reports and charts that detail your spending and net worth trends over time.
YNAB Pricing
YNAB costs $14.99 per month or $109 per year (which breaks down to $9.08 per month). While this is high compared to most budgeting apps, the company does offer a 34-day trial. You can also cancel your subscription and receive a prorated refund should you decide to stop using it.
YNAB Customer Support and Accessibility
YNAB users who need assistance can visit the company's online help center, which offers frequently asked questions, guides, video walkthroughs, and more. You can also chat with a support team member directly through the app, which is rated 4.8 out of 5 stars in the Apple store and 4.7 out of 5 stars in the Google Play store, or email help@YNAB.com. There is no phone support.
YNAB Pros and Cons
YNAB Pros
- Offers a free 34-day trial
- Apps available for tablets, phones, smartwatches, and Alexa devices
- Connects with your bank and credit cards and automatically detects transactions
- Allows up to 6 people per account
- Handy visuals and reports
YNAB Cons
- Requires regular, hands-on management
- Priced higher than many budgeting apps
- Only uses the zero-based budgeting method
- No bill negotiation, subscription cancellation, or investment tracking, as other apps offer
Budgeting with YNAB
YNAB is a handy tool if you want a good visual picture of your financial health and budget. You'll set monthly budgets for individual expenses, savings goals, and debts, and the app shows an easy-to-understand tracking bar for each. As you assign money toward each item, its bar fills up, remaining yellow until you've fully met the estimated costs for that month. (Then it turns green.) If it goes red, that means you've overspent and will need to pull funds from another budget item to cover the shortage.
YNAB's reporting feature is also a standout. With this, you can see how your spending habits change — overall or in specific categories — over time. You can also produce graphs and charts tracking your net worth.
The YNAB app requires quite a bit of manual work. You will likely need to manually categorize some transactions that come in, and you'll need to monitor and assign funds as you get paid throughout the month, too. (There is an auto-assign feature, but you'll still need to check in regularly to ensure you're on track.) There's also no over-the-phone customer service.
YNAB only allows you to use the zero-based budgeting method, which allocates all of the money you make, down to the last dollar. While this might work for some consumers, others may prefer additional options — such as the 70-20-10 budgeting method or a pay-yourself-first budget.
Is YNAB Trustworthy?
We consider ratings from the Better Business Bureau to evaluate how companies address customer issues and handle transparency. Currently, YNAB has an F rating, as it failed to respond to three customer complaints lodged through the bureau.
YNAB hasn't been involved in any recent public controversies or scandals.
YNAB Alternatives
YNAB vs. Rocket Money
Both YNAB and Rocket Money allow you to sync your bank accounts and credit cards, track your spending, and build a budget. With Rocket Money, though, you get bill negotiation and subscription cancellation services, too. It also has autosavings features that identify savings opportunities based on your financial habits, and you can track your credit score through the app.
Another big difference between YNAB and Rocket Money is the price tag. While YNAB costs $14.99 per month (or $109 per year), Rocket Money is free for the most basic version. For premium features, the cost is $6 to $12 per month. (You pay the price you think is fair within this range.)
YNAB vs. Monarch Money
These two apps cost the same monthly while Monarch Money's annual plan is $99.99. Monarch Money doesn't require the same manual management as YNAB, though. Instead, the app leverages user-set transaction rules to categorize your transactions and other incoming bank data. You can also use the app to track investments, and there's even a handy calendar that shows you what bills are due and when.
Like YNAB, Monarch also offers helpful charts, reports, and graphs to help you track your financial habits.
Why You Should Trust Us: How We Reviewed YNAB
To review YNAB, we considered pricing, features, customer support, and app and trustworthiness ratings, among other factors, as well as how the app compares to others on the market. We also used our bank account-rating methodology as a guideline.
YNAB FAQs
What are the drawbacks of YNAB?
The main drawbacks of the YNAB app are that it requires regular, hands-on management, and its price is high among the biggest budgeting apps.
Can you use YNAB without a subscription?
You can use YNAB for free for 34 days during the initial trial period, but you'll need to pay for a subscription after that. You can pay monthly or annually.
Can couples use YNAB together?
Yes, YNAB allows up to 6 people in an account, so couples can use YNAB together.
Does YNAB access your bank account?
YNAB syncs with your bank accounts and credit cards, allowing it to import transactions and bill totals automatically. You cannot, however, pay bills or transfer funds to and from your bank using the app.
