Financial Tools: The Pros & Cons of You Need a Budget (YNAB)


You Need A Budget (YNAB), which launched in September 2004, is a popular budgeting application that aims to help users take control of their finances and achieve their financial goals. The app is built around YNAB’s Four Rules designed to change your financial future.  The Four Rules are: 1) Give every dollar a job; 2) Embrace your true expenses; 3) Roll with the punches; and 4) Age your money.  While YNAB has many benefits, there are also some cons to consider before deciding to use the application.



YNAB (some call it “why-nab”) is good for individuals and households looking to manage their finances and budget effectively. It is particularly useful for those who want to get control of their spending and improve their savings.


  • User-friendly interface: YNAB has a clean and user-friendly interface, making it easy to create and manage a budget, even for those who are not familiar with budgeting.
  • Real-time tracking: YNAB allows you to track your spending in real-time, which can help you make better decisions about how you allocate your money.
  • Goal setting: YNAB allows you to set financial goals and track your progress towards achieving them. This can provide motivation and accountability to stick to your budget.
  • Cloud-based: YNAB is cloud-based, which means that your budget is accessible from anywhere, as long as you have an internet connection.



  • Subscription-based: YNAB is a subscription-based application, which may not be appealing to everyone. Additionally, the cost of the subscription can add up over time, especially if you use the application for an extended period.
  • Limited customization: While YNAB provides a user-friendly interface, it may not have the customization options that some users are looking for. This can make it difficult to tailor the application to your specific needs and financial situation.
  • Learning curve: YNAB has a learning curve, and it may take some time to get used to using the application and all of its features.


In conclusion, YNAB is a popular budgeting application that can be a valuable tool for managing your finances and achieving your financial goals. However, it is subscription-based, may have limited customization options, and has a learning curve that may not be suitable for everyone. Whether or not YNAB is the right choice for you will depend on your individual financial goals and budgeting needs.


Financial Tools: The Pros & Cons of GoodBudget

Financial Tools: The Pros & Cons of EveryDollar

Get Your Information – for Free! [Free Tools and Resources]

A Journey to Personal Financial Success

At Morgan Franklin Fellowship (MFF), we support the concept of financial freedom – by teaching participants how to save by paying themselves first, invest for their future and grow their net worth.

Learning how money works and how to talk about money with others are the first steps towards recognizing an individual’s lifelong financial goals. Our online programs, podcasts, blogs, and book reviews and resources are designed to help you learn the concepts, rules and vocabulary of money, finance and investing.

Becoming an MFF Fellow

Our Standards of Financial LiteracyLearning about money series is engaging, full of interesting information, and easy to navigate. Adapted from the National Standards for Personal Financial Education developed by the Council for Economic Education (CEE), this robust curriculum features six short lessons on such important topics as earning income, understanding the value of saving and using credit. When completed, this program lays the foundation for becoming an MFF Fellow.

Becoming an MFF Fellow is the ticket to access additional MFF programs and opportunities for mentoring, networking, internships and real-world opportunities. Hear from the MFF Fellow themselves on how these opportunities encourage them to continue their journey to personal financial success.

Learn More about Money

Begin the journey towards personal financial independence today. START LEARNING TODAY

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest