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Meanwhile, those who simply want to track where they’ve spent their money, as well as see a real-time snapshot of their total net worth in one place, might prefer Mint’s more straightforward approach. But as you’ll see, there are important differences in these two tools, including very different budgeting philosophies and pricing models.įor anyone feeling motivated to develop a strong new strategy to help them achieve financial goals such as getting out of debt, spending less, or simply saving more, YNAB offers not just an app, but a whole new way of thinking about what you can do with each dollar you earn. ![]() Both help consumers track all their expenses, categorize them by expense type, assess how much is going where, and decide allocations for the future. Two of the biggest players in the world of budgeting apps are Mint and YNAB, which stands for You Need A Budget. Read our advertiser disclosure for more info. We may receive compensation if you visit partners we recommend. I try to let each one do the things its best at, basically.We recommend the best products through an independent review process, and advertisers do not influence our picks. YNAB's primary design concern seems to be spending categories and what the money is doing in a broader sense. Mint's primary design concern is around accounts, and what they're doing. I always found the budgeting features on Mint exceptionally clumsy and unpleasant, though. #YOU NEED A BUDGET VS EVERY DOLLAR MANUAL#(There are some people who get a whoooole lot of transactions, and I think they mostly download a csv file from their bank every 2 weeks or every month and load that into YNAB and let the software sort things out, rather than going through and doing manual input.) On occasion, when several small purchases of the same type happen together, I just group them into one YNAB transaction to smooth the entry process. Then, when I have a moment, I can sit down and pop open Mint and use its list of transactions to fill in the information on YNAB. ![]() It gives me reminders when it knows something is about to be due, and alerts me immediately if it thinks anything that happens looks out of place. Mint takes care of automatically picking up information from the accounts that I want it to track, and gathering the purchase data. As soon as you can figure out a way to get YNAB going outside of Windows, I'll probably be there waiting for you. I'm not completely committed to that though, and it has its share of warts as I'm sure you're aware. I'm currently thinking about ways to apply "the method" to our own spending via Mint. so I won't.Īnyway, I think you guys are on the right track with this product. #YOU NEED A BUDGET VS EVERY DOLLAR WINDOWS#Personally, I love Windows and if it were just me, I would be all over this. She would far prefer to use your product via a browser on her iPad or as a straight-up app on that. #YOU NEED A BUDGET VS EVERY DOLLAR PC#Sounds silly coming from a Steam user right? But the fact is that my wife is our family "financial controller" and she won't use a PC anymore. That said, I won't be hopping on YNAB right now because it requires you to use the Windows app. I think you're spot on with this advice and I like the work you guys are doing around the product particularly around educating your users on the web site. #YOU NEED A BUDGET VS EVERY DOLLAR FREE#Mint is primarily focused on what you have spent, whereas YNAB is more about planning what you will do with the money you have.įeel free to check out one of our classes to see how it all works: ![]() The app just makes it easier to follow the 4 rules. Originally posted by RodeoClown:The main benefit in YNAB is actually the method [which you can do without the software. I'm just not seeing the need for YNAB at the momeny but I do like to see more budget software pop up liks this pop up. I've used it to save up for multiple vacations and large purchases. #YOU NEED A BUDGET VS EVERY DOLLAR PLUS#Plus I have bank accounts that are used for future goals and monthly send money to them with leftover budgeted amount. Then I can review my budget screen and see if something looks out of place or over my monthly limit. ![]() With Mint it keeps track of everything for me and it knows "Old Navy" goes to the "clothing" budget. We buy things here and there and there is no way to stop what I'm doing and track the purchase. Going back to the "stonage" with manually keeping track of all purchases wouldn't work in my household. It will keep me up-to-date on the fly so I can track things like that. I catagorize everything with Mint and can see (restraurants vs fast food) and all that stuff. Not to downplay YNAB at all (I haven't tried it) but Mint does all the same things that everyone in this forum says it doesn't. ![]()
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