When it comes to staying on budget every month, this becomes an important point. The easier it is to use an app, the more likely you will be to use it. More details later when I declare a winner for this section. However, the strength of YNAB becomes more apparent when you re-visit a place you’ve already shopped. You’ll type in the same things as you would in EveryDollar. It’s obvious from the start a lot of care went into designing YNAB (and how you use it). Let me just go on the record here and say YNAB’s iPhone app is gorgeous. After entering a transaction, you can scroll to the category to see how much money is left (making sure you’ve toggled the Remaining view). Type in an amount, type in the merchant name, and choose a budget category. Just like creating your first budget, EveryDollar’s iPhone app makes it straightforward to add a new transaction. The focus of this section will be on adding transactions on the iPhone. That means the mobile apps for EveryDollar and YNAB are critical pieces to budgeting success. The best way to keep track of your budget is to add each transaction as they happen. While YNAB’s approach to budgeting, handling of credit cards, and other features (like goals and reconciling) are extremely helpful, there is a learning curve to fully understand how and why they’re useful. However, getting into the cockpit of YNAB can feel a tad overwhelming. Like most other budgeting apps out there. When you get in the “cockpit” of EveryDollar, it’ll feel familiar. EveryDollar is definitely a lot easier and quicker to get started with. This is because YNAB encourages budgeting using only money that’s actually in the bank (versus forecasting future income). The big difference here is that instead of budgeting a single month based off your expected monthly income (like EveryDollar), your first budget is based off how much money you have combined across your checking and savings accounts. Similar to EveryDollar, you’ll then distribute your money into the different categories until the “to be budgeted” amount reaches zero. It’ll walk you through adding your accounts (checking, saving, credit card, etc.) and their starting balances. Once you log into YNAB for the first time, you’re greeted with a getting started tutorial that’s definitely worth going through. Afterward, you can further refine your budget to get the “left to budget” amount to zero. Once you create an account and log in, you’ll immediately be taken through a step-by-step guide that walks you through budgeting some of the more common categories. Creating Your First Budget EveryDollarĬreating a budget is a simple process in EveryDollar. It’s genuinely my honest, unbiased experience using both apps. And please know I wrote this review before I knew I could earn a commission. Note: If you sign up for a free trial using links in this post, I’ll get a small commission. They’re typically very generous honoring those requests! And #protip, you can email support requesting extra time if that’s not long enough.
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