Using YNAB and the zero-based budgeting method has helped me to better manage irregular expenses.įor example, I pay car insurance twice a year, instead of monthly, to save on my premium. Planning for large and irregular purchases is easy The high interest rates on accounts such as the LendingClub High-Yield Savings account and the Ally Online Savings Account give me "free money" while keeping everything safe in an FDIC-insured deposit account. Before it felt like a chore, now it feels like progress.įor short-to-medium-term goals, a high-yield savings account makes for an excellent place to park my money and watch it grow. And being able to readily see the progress I'm making toward goals that are important to me (outside of paying rent) makes me excited to budget. This makes it simple to set aside money for different expenses and goals without having to stuff cash into separate envelopes. It's easy to see that if I drop $45 on Pad Thai and an Uber, then I won't be saving as much for the upcoming vacation. By tracking my financial priorities in real-time, I'm more aware of the tradeoffs. As my priorities change, I have the option to merge old categories or create new ones. And I can also set goals for each category. With YNAB, I can easily create spending and savings categories such as groceries, utilities, a new phone or an emergency fund. I can manage priorities and track progress in real-timeĪ budget should help you align your spending and saving with your priorities. Still, if you're hung up on paying anything at all for a budgeting app, both Mint and PocketGuard offer free alternatives to YNAB. Think of it along the lines of paying for a personal trainer or gym membership, it's an investment in your financial health and might just help you take your budget more seriously. Also, You Need a Budget costs $14.99 a month or $99 for an annual subscription ($8.25 a month), plus taxes where applicable. That said, no budgeting system or app will magically fix everything and there's a learning curve with YNAB. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bonds Help for Low Credit Scores +More All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score Taxes +More All Taxes Best Tax Software Best Tax Software for Small Businesses Tax Refunds Small Business +More All Small Business Best Small Business Savings Accounts Best Small Business Checking Accounts Best Credit Cards for Small Business Best Small Business Loans Best Tax Software for Small Business Personal Finance +More All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt Relief Best Mortgages for Average Credit Score.Best Loans to Refinance Credit Card Debt.
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