A good budgeting app???

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  • SeduLOUs
    SeduLOUs Posts: 2,171 Forumite
    They offer a simpler approach, with different apps for specific purposes rather than a huge expensive complicated thing like YNAB.

    I have to disagree. YNAB is not huge, expensive or complicated. 6 separate apps sounds more convoluted to me than a simple budget screen and a list of bank accounts. Different things do work for different people though, and perhaps your recommendation will be valuable to some.

    Your suggestion may be a useful alternative for people who do not have regular access to a PC, as the YNAB app is only for entering transactions on the go and cannot be used to fully update the budget.

    If you do have regular PC access I would still suggest at least giving the YNAB trial a good go before deciding to dismiss it.
  • Well it appears to be complicated based on peoples experiences in this thread? It needs an explanatory video !

    You don't have to buy all 6 apps, maybe one or two are appropriate for a persons circumstances. You get to choose which functions to buy, in effect.

    It will suit some, it suits me. Those more confident can go ahead with YNAB.
  • SeduLOUs
    SeduLOUs Posts: 2,171 Forumite
    I think the hardest part of YNAB is the finding the right mindset. It isn't about recording what you DID spend, it's about planning what you WILL spend.

    If you go into it with the wrong mindset it can be confusing at first, but it is easily done as most other software has you create a fixed budget, then look at it at the end of the month to see how wrong you were, usually followed by a feeling of failure. Instead, YNAB is set up to look at what you have, and you can adjust what it needs to do as you go along. Fundamentally its basic concepts are pretty straight forward - it's just an enveloping system that is managed electronically.

    Also unfortunately, most people come to software like YNAB because they are in a mess, and everybody's personal situation is unique. If we all had a full pay-cheque to hand, lots of savings and no debt, any finance or budgeting software would be super easy to set up, but that isn't always the case so the videos and forums are to help people to understand how to best manage their personal situation.

    I didn't actually watch any videos, because I'm a trial and error kind of person, so I just created a test budget and just posted things to see what would happen and figured it out as I went. Not everybody wants to do that.

    Once you get past the 'basics' there are lots of things you can do with it, like planning to pay down debt and putting money to one side every month so that you can pay the big annual bills in one go.

    I've looked at the iPhone apps and they do look like excellent recording tools, but am unsure what they can offer for a long term strategy. It is unfair of me to judge them without trialling, so I'm not going to, but I have no reason to test them when YNAB does everything I need it to do and more.
  • Pixie5740
    Pixie5740 Posts: 14,515
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    Well it appears to be complicated based on peoples experiences in this thread? It needs an explanatory video !

    You don't have to buy all 6 apps, maybe one or two are appropriate for a persons circumstances. You get to choose which functions to buy, in effect.

    It will suit some, it suits me. Those more confident can go ahead with YNAB.

    YNAB has its own channel on YouTube with instructionary videos. YNAB also recommends signing up to the free webinars to get started but you can get videos of the webinars on their YouTube channel.

    Glad you've found a system that works for you. Different strokes for different folks.
  • Pixie5740 wrote: »
    Different strokes for different folks.

    Well thats all I'm saying, some of this stuff can be a bit full on, I just want a couple of things to use to start with and its good to be able to extend the collection of apps as you go. So that suite appeals to me.

    Its better that I get the benefit of actually using the simpler options versus being overwhelmed by the complicated stuff and therefore not taking action.

    I find that stuff to be good first steps. Helps me anyway.
  • I was initially a bit sceptical about YNAB as I thought it sounded too complicated but I finally took the plunge and got the free trial. (You don't need to set up a direct debit first to do so.)
    Any initial scepticism or concerns have vanished, it's been a revelation. Once set up it's easy to use and there are plenty of articles/videos/free classes to answer any questions. (Not really sure of the point of the 7 day e-mail course but that's another issue)
    With the phone app, transactions can be entered in seconds and it's great knowing his much money you have left to spend in a particular category. My wife has found it a bit irritating though, but am sure will change her mind when we want to go on holiday and actually have the money there available to do so.
  • Hi all, I realise this is an old thread but just wanted to say I've read the whole thing and it's been HUGELY informative - I'd heard mentions of YNAB scattered around the forum but wasn't sure if it'd be worth it or useful for my situation, but this thread has explained it so clearly! Thank you so much to those who took the time to explain the philosophy and intricacies and various uses/difficulties/tricks/benefits of the software, and those who asked the questions that were on my mind! Feel like my brain has doubled in size. Off to buy YNAB and play with it all weekend.
    YNAB trialler. Debt at 2nd LBM, Sep 2015: £24,162. <swear>

  • Go YNAB- woop woop - literally changed my life.
    Total Credit Used...=........£9,000 / £52,700
    Mortgage..............=........£138,000 , 20 Years left.
    :starmod:CC cashback for this year..=........£112.88 £205.81 banked in 2015
    :starmod:YNAB User & Mortgage Free Wannabe
    :starmod::A19/03/16
  • Does anyone know when YNAB are next selling it discounted? think I'll give this a try but resent paying full price for anything :)
  • Heffi1
    Heffi1 Posts: 1,291
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    Hi Davie-G I am not sure I did hear that they stopped selling it through the Steam sale a while ago, if you attend any of the webinars they give one free copy to one of the attendees, so you may be lucky and get it that way, for me it has paid for itself over and over, I paid full price £30 and it is money well spent in my eyes, but I realise that is quite a lot to pay in one go. Read the forums, attend the webinars, ask lots of questions to make your mind up, but I doubt you would regret paying.
    :) Been here for a long time and don't often post
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