YNAB Review (2024): The 4 Rules, Pros and Cons

In this YNAB review, we’ll break down our favorite features, share the areas for improvement. YNAB: www.marriagekidsandmoney.com/... (Affiliate)
Prefer to Read? Here's this video as a written article: marriagekidsandmoney.com/YNAB...
CHAPTERS
00:00 - Intro YNAB Review
01:01 - Who is YNAB?
02:23 - How do you use YNAB?
04:37 - YNAB Review: Best Features
07:40 - YNAB Review: Areas for Improvement
10:28 - Outro YNAB Review
#YNAB #YNABReview #BudgetingTools #FamilyFinance #PersonalFinance
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MARRIAGE KIDS AND MONEY:
This award-winning blog, podcast and KZbin channel are dedicated to helping young families build wealth and thrive.
Each week, Andy Hill interviews personal finance experts, shares the best fintech tools and even discusses his own journey with family financial independence.
BIO - ANDY HILL:
Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.
Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.
When he's not "talking money", Andy enjoys being a Soccer Dad, singing karaoke with his wife and relaxing in his hammock.
✅ CONNECT WITH US
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DISCLAIMER
This show may contain affiliate links or links from our advertisers where we earn a commission, direct payment or products. Opinions are the creators alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Information shared on this channel is for entertainment purposes only and should not be considered as professional advice.
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CREDITS
Research & Writing: Kathryn Hanna, CPA/PFS, CFP®
Video Editing: www.editvideo.io
Thumbnails: Ardi, The Thumbnail Wiz
Channel Management: Nev Maraj

[@MarriageKidsandMoney]

Access a 34-day free trial of YNAB here: www.marriagekidsandmoney.com/ynab (affiliate)

[@TheJillCohen]

I am a 68 year old grandma. My son told me about YNAB and I have been a user since 2014. I paid off my house in 2016 ONLY because of YNAB. My four grown sons all use YNAB. I am a YNAB addict. I LOVE YNAB. My husband plans to retire next year and I feel so confident because I know how much we need to live each month and have categories that save in advance for all the once a year bills. If I could, I would teach a class in YNAB to young people. I rarely have any surprise expenses because I always have enough set aside for "emergencies". YNAB only gets better all the time. Thanks YNAB.

[@MarriageKidsandMoney]

I love your passion for YNAB! Have you considered becoming a YNAB Coach? I'm sure you could teach others what you know in your community (and beyond) -- www.ynab.com/coaching

[@funtechu]

I would personally add that the way YNAB handles credit cards is a pro, not a con. It brings the spending in line with your goals, and let's you use a credit card without the risk of ever paying interest. Yes, there may be a bit of a learning curve for someone who is used to treating their credit card available balance as found money, but breaking that habit is a good thing in the long run.

[@MarriageKidsandMoney]

Great point!

[@kreestenkreesten]

YNAB helps me deal with inflation. Every month something goes up. A $10 bill increase here and a $7 bill increase there... it may seem not seem like a big deal, but it adds up so quickly. YNAB helps me keep a realistic view on what was going on and recalibrate my budget accordingly.

[@MarriageKidsandMoney]

A great testimonial! And yes ... inflation is NUTS!

[@jaclyndougherty3271]

Absolutely LOVE YNAB! Ive tried so many different budgets and none of them compare to what all YNAB does! Will also be using together for our son in a couple years

[@MarriageKidsandMoney]

Thank you for watching! It's definitely a tool that gives you an incredible amount of control. Your son is a lucky guy!

[@Pottering12]

Great coverage here Andy. Love your work

[@MarriageKidsandMoney]

Thank you for your support!

[@masonpl4704]

Thanks for making this video!

[@MarriageKidsandMoney]

Glad you enjoyed it!

[@oscarmvl]

Great overview, I’ve been using YNAB for 9 years, I’ve tried other apps because people insist on trying their budgeting systems but I never feel as in control of my money as I feel with YNAB. My now wife was hesitant at the beginning, but now can’t imaging managing her money without YNAB.

[@MarriageKidsandMoney]

Now that's a great testimonial for YNAB! So glad it works well for you :)

[@-sil]

I can't recommend ynab highly enough! You may be right about a couple of those cons, but they are miniscule in relation to the absolute confidence and zero-stress I feel every month and every time I consider spending money on anything. Great review!

[@MarriageKidsandMoney]

Thank you for watching! I'm glad to hear YNAB gives you confidence and zero financial stress -- that's what more of us need :)

[@Shadownailshot]

Really helpful videos while I decide how to better manage my money aside from this spreadsheet I made. Also: Your voice and inflections sound EXACTLY like Owen Wilson.

[@MarriageKidsandMoney]

I'm glad you enjoyed the video! And thanks for saying I sound like a successful celebrity! :)

[@BrokeMillionaire1]

We are about to try YNAB again. When we do, I’ll use your code.

[@MarriageKidsandMoney]

Hey, I really appreciate it!

[@karenmorales882]

Don't give up on it. I have had to restart our budget 2 or 3 times already. It is a learning curve but once you completely get it, its life changing.

[@BrokeMillionaire1]

@@karenmorales882thanks so much!!!!!

[@mattshriver8714]

Great video! I've been a Mint user for years, but have heard it will be shutting down in the coming months. Time to find a new app, but not sure about the learning curve with YNAB and cost.

[@MarriageKidsandMoney]

It does take some ramp up time, but totally worth it in the long run. Also, I don't think YNAB is ever shutting down. Jesse Mecham is passionate about his company and product. Here's my interview with Jesse: kzbin.info/www/bejne/rH27paaOZbeelbcsi=bisqisNxeQHTaCno

[@P_double_H]

I had YNAB a few years ago and I enjoyed it... I had to cancel it because it was a little work to upload everything after each transaction. I hope they automated a lot more stuff now.. I'll probably join them again.

[@MarriageKidsandMoney]

Each year, they improve. YNAB does take a lot of work to set up. If you're looking for something quicker, my wife and I just started with Monarch Money and it's going well. Here's our review: kzbin.info/www/bejne/gaTFaJKIibh0iNksi=fmn3Xl9Ho_sA7RKR

[@P_double_H]

@@MarriageKidsandMoney thanks . I will take a look at it.. I also noticed YNAB increased their price from $80 to $100. I'll check Monarch Money.

[@a8lg6p]

It’s a feature. I would love for it to happen automatically, but it for it to be useful, it would have to be instantaneous; when I swipe my credit card, the transaction should appear in the app immediately. Otherwise you can’t trust the numbers you see in the app to make decisions. It should be possible in theory, since I get a pop up notification from my bank seconds after swiping my card, but I’ve tried the half dozen most popular apps, and it seems none of them count pending transactions at all. Making it useless for anything other than seeing how well I did and where my money went in previous months, which is not what I need it for. Whether a payment has “posted” or not is an implementation detail on the part of the bank that is irrelevant to me; if it’s authorized, 99.99% of the time, it will eventually. That money has been spent. The all should treat it as such. I need to be able to look and see…can I afford to do this right now based on what I’ve done so far this month. The only way that is possibly at the moment as far as I can tell is by manually entering transactions as they occur.

[@halodisciple8459]

Does YNAB carry over/under budget spending to the next month? That's one good thing that Mint does, and now that they're shutting down I'm looking for a replacement.

[@thenopedetective]

It does! I do find it's not great for tracking expenses or spending over time on mobile, but it's great for "rollover" which I found wasn't consistent with mint (desktop).

[@MarriageKidsandMoney]

Yes, it is a helpful feature for sure.

[@DeeDee-rr3sn]

Can this be used on a PC

[@MarriageKidsandMoney]

Sure can! I prefer budgeting on the computer as opposed to my phone.

[@DeeDee-rr3sn]

@@MarriageKidsandMoney Yeah it can be a pain in the butt doing it on a phone. Another question for you, i have multiple checking and savings accounts (rental, personal..) do you know if it will let you download multiple accounts into one file/folder... to keep track of everything in one place. I currently have been using Quicken and I like how I have everything organized (rent check comes in and then kind of like the envelope system the money in varying amounts gets deposited into the various savings/envelopes...), but I am constantly having issues with Quicken jacking up my accounts/transactions....

[@waschosen-]

While useful, mastering the YNAB budgeting system takes some time due to its complexity.

[@MarriageKidsandMoney]

From what I've heard from the die-hard YNABers ... the extra effort in the beginning to understand it is worth it.

[@waschosen-]

@@MarriageKidsandMoney The official guidance does not seem to have clearly explained many aspects of the usage and points to note.

[@dustinabc]

5 seconds in: "there's no wrong way to budget" There most definitely are wrong ways to budget. I don't know if I should listen to the rest with such a big error at the beginning... But I'll give it a shot

[@MarriageKidsandMoney]

I hope you enjoyed the rest of the video!

[@007dubbleR]

I love your shirt. I want one! I would just add "Jesus".

[@MarriageKidsandMoney]

I love it! Which of those four words would you put first?

[@smrtzttspanishenglishtutor67]

So I came to use YNAB to save money but I have to pay $79. It does not make any sense.

[@1esk192]

I have saved thousands with this app so far. Especially with a money app I'd rather be the paying customer. Nothing is free, you just pay with your data. You sure you want that?

[@MarriageKidsandMoney]

There are other free budgeting apps but they do come with strings attached like ads, affiliate marketing or direct phone calls/marketing ... One to consider would be Empower: kzbin.info/www/bejne/bJfCXqljad2Fp7csi=DKN_7ZODSAm4uu5O

[@007dubbleR]

You have to look at it as an INVESTMENT. The rewards far outweigh that small cost.

[@aahashm86i]

This is a terrible review, it provides no opinion or insight. Did they even use the app?

[@BubbleBuster]

Sad. Nobody can do anything for themselves anymore so they’d rather give complete access of their funds to AI

[@MarriageKidsandMoney]

How do you prefer to manage your money?

[@BubbleBuster]

@@MarriageKidsandMoney paper and pen.

[@MarriageKidsandMoney]

@@BubbleBuster Nice!

[@maczette216]

I know right! They use stoves when they could have just built fires. Listen to the radio, when they could just sing to themselves for 12 hours. We are all going to live forever and time is never ending so let's fill those endless minutes with endless little tasks....

[@BubbleBuster]

@@maczette216 Ok sheeple