YNAB 5

[robinb]

I've had a copy of YNAB for a couple of years now. I used it to track my mother's finances the last 18 months of her life (it was great for that) and I have started to budget for myself a couple of times but didn't follow through.

I really need to get a handle on where our money is going so I just started again last week and ... so far so good. I go through my bank accounts every couple of days and enter in anything new into YNAB and then I also go through my credit card accounts and enter that stuff in too. We do 85% of our spending by credit card (and pay it off every month). I have the budget on dropbox so I can enter stuff on my phone which I did last night. I'm going to allow my DH access to the dropbox folder so he can follow along if he wants to.

So, I was searching YNAB boards for answers on how to handle the credit cards and I noticed that there is a new online version of YNAB that is now a subscription service. I bought my copy years ago for $40 and now they expect me to pay $45 per year for it! Has anyone gone over to the new YNAB 5? Do you think it's worth it to change? I have a feeling that eventually the YNAB version will become too different and I'll have to go to it. But, if you're using YNAB 5 do you think it's worth it to change now? I the grand scheme of things $45 a year isn't a big deal but I don't want to have to pay for something if I don't need to.

 

[RitaE]

I personally was so disappointed when they did that. No, I'll use my YNAB 4 copy until it no longer works but I'm not interested in a yearly subscription service.

 

[Shmily1]

Same. I've been using 4 for a while and I'm not going to the new version. If there was a flat fee to upgrade, then yeah, I'd most likely do it. To pay monthly or yearly, it's not looking good.

 

[Ava]

I had been using YNAB4 for about a year before they switched, and was disappointed at first. However, I signed up for the free trial of "New YNAB" and now I love it. Being able to link your accounts for direct import of transactions saves so much time, and I like the way the new version handles credit card usage. I also like being able to integrate goals into my budget and have it track them for me. The changes took some getting used to but when my free trial was up I paid the $45 subscription fee without hesitation. I also like that previous YNAB4 users are locked in at $45/year for life.

 

[berryinDC]

I had been using YNAB4 for about a year before they switched, and was disappointed at first. However, I signed up for the free trial of "New YNAB" and now I love it. Being able to link your accounts for direct import of transactions saves so much time, and I like the way the new version handles credit card usage. I also like being able to integrate goals into my budget and have it track them for me. The changes took some getting used to but when my free trial was up I paid the $45 subscription fee without hesitation. I also like that previous YNAB4 users are locked in at $45/year for life.

Thanks for your review. I was just coming on the budget board to ask if anyone was using YNAB 5. I still have Version 4 but the new features sound great. I just hate the idea of paying a large monthly fee. Ugh. The YNAB app was always really glitchy for me, so I eventually stopped using it. I wonder if they've improved it with YNAB 5.

 

[disneymagicgirl]

I still use the old version too. Can't bring myself to pay the annual fee.

 

[Albort]

To the ppl who use YNAB5, how does it compare to Mint?

 

[LJSquishy]

I'm a YNAB 4 user and don't see a real need to upgrade to the new version. YNAB 4 already does what I need it to do in order to budget wisely so the fact that YNAB 5 can do a few extra things doesn't draw me in...or at least I don't let it. I would never, ever, pay a subscription fee for budgeting software so in my case I'd stop using YNAB altogether if my copy stopped working and seek out something different. I love YNAB...we created a great budget while we were saving to build our new house (which will be done in June) and through using it we "found" 1/3 more money each month to save. I had previously recommended YNAB 4 to family members but I will not recommend the subscription based model. Unfortunate.

 

[Shmily1]

I'm a YNAB 4 user and don't see a real need to upgrade to the new version. YNAB 4 already does what I need it to do in order to budget wisely so the fact that YNAB 5 can do a few extra things doesn't draw me in...or at least I don't let it. I would never, ever, pay a subscription fee for budgeting software so in my case I'd stop using YNAB altogether if my copy stopped working and seek out something different. I love YNAB...we created a great budget while we were saving to build our new house (which will be done in June) and through using it we "found" 1/3 more money each month to save. I had previously recommended YNAB 4 to family members but I will not recommend the subscription based model. Unfortunate.

I agree. I hope they continue to keep YNAB 4 running but I don't see me going to subscription anything. I don't like subscriptions at all unless it's free. I'm doing just fine with YNAB4.

 

[Ava]

Thanks for your review. I was just coming on the budget board to ask if anyone was using YNAB 5. I still have Version 4 but the new features sound great. I just hate the idea of paying a large monthly fee. Ugh. The YNAB app was always really glitchy for me, so I eventually stopped using it. I wonder if they've improved it with YNAB 5.

I haven't had any problems with the new YNAB app, although I didn't have problems with the old one either so I'm not sure if that's helpful. I understand many people are averse to paying a subscription fee for software, but personally I think it's a reasonable fee for the quality of product offered. A big plus for me with the new web-based version is being able to access it from any computer. I may be strange, but I'm much more motivated to jump online and update my budget during down time at work than I am when I'm home in the evening/weekends.

 

[DisneyArie]

I 100% recommend YNAB. I've had a free subscription (because of school) for a couple of years. It has helped me so much with budgeting. Students are eligible to get the new web-based version for free so I paid the $45 for one year. It helps me save way more than $45 per year so the cost is justified for me. If you don't want the new version, the old one works just as well. It just doesn't automatically sync your accounts.

 

[ellie05]

Yeah I am not happy with the changes since they introduced the new version the classic app has been having glitches syncing. I am about done with it and I am think to switching to mint.

 

[IndyPirate]

I'm still using YNAB 3. I think I'll wait until some of the issues are fixed to get the newest version. I am curious about how it deals with using credit cards. I have a few that I use for points and cash back but pay in full every month. I guess I'll need to get the trial version and see. It would be nice to have my husband input his receipts on the go rather than nagging him to give them to me to put in the computer.

 

[robinb]

I'm still using YNAB 3. I think I'll wait until some of the issues are fixed to get the newest version. I am curious about how it deals with using credit cards. I have a few that I use for points and cash back but pay in full every month. I guess I'll need to get the trial version and see. It would be nice to have my husband input his receipts on the go rather than nagging him to give them to me to put in the computer.

I have YNAB 4 and each one of my credit cards has an account. I go online to check the charges and enter them in as part of my 3-times a week process. It's easy for me to assign a category since I don't usually don't buy multiple categories on one stop (like groceries and clothing at the same place). Most of my stops are single category stops so I don't even use my receipts.

We pay in full every month and once it's paid, I mark all the transactions in that statement as "cleared". Right now I'm trying to figure out how to show only the non-cleared transactions in a particular account. At this point, I don't need to see that I shopped at the grocery store back on March 25th. Once I mark it cleared I don't want to see it again unless I specifically ask to see it again.

 

[disneymagicgirl]

I am using the old version too.

Anyone using the new version, I have a question...

When it auto syncs charges from various accounts, how does it categorize them? Or does it not and you go in and do that part?

 

[IndyPirate]

I have YNAB 4 and each one of my credit cards has an account. I go online to check the charges and enter them in as part of my 3-times a week process. It's easy for me to assign a category since I don't usually don't buy multiple categories on one stop (like groceries and clothing at the same place). Most of my stops are single category stops so I don't even use my receipts.

We pay in full every month and once it's paid, I mark all the transactions in that statement as "cleared". Right now I'm trying to figure out how to show only the non-cleared transactions in a particular account. At this point, I don't need to see that I shopped at the grocery store back on March 25th. Once I mark it cleared I don't want to see it again unless I specifically ask to see it again.

I think I do it a little differently. All the credit cards have their own on-budget account. They mark as cleared when reconciled with the website. Because it's on budget, the funds come from the categories right away as if it were cash. I'm able to process the credit card bill payments as transfers from my checking account.

I saw a Whiteboard Wednesday the other day saying how different the newest version is with credit cards. It makes sense as it's using proven accounting methods, I'm just kind of stuck in my ways and don't really want to pay a monthly fee. But then again, it may ultimately be a time-saver.

I don't have many split purchases, but often Costco or Target end up that way.

 

[robinb]

I think I do it a little differently. All the credit cards have their own on-budget account. They mark as cleared when reconciled with the website. Because it's on budget, the funds come from the categories right away as if it were cash. I'm able to process the credit card bill payments as transfers from my checking account.

I saw a Whiteboard Wednesday the other day saying how different the newest version is with credit cards. It makes sense as it's using proven accounting methods, I'm just kind of stuck in my ways and don't really want to pay a monthly fee. But then again, it may ultimately be a time-saver.

I don't have many split purchases, but often Costco or Target end up that way.

I leave mine uncleared so I can compare my balance in YNAB with the balance on the card (again, I pay off every month). I make the payee "visa" and the categories are whatever I bought. Luke you, I transfer the payment from my on budget checking account to my on budget visa account.

I'd be interested in seeing that video. Do they keep those available online?

 

[IndyPirate]

I leave mine uncleared so I can compare my balance in YNAB with the balance on the card (again, I pay off every month). I make the payee "visa" and the categories are whatever I bought. Luke you, I transfer the payment from my on budget checking account to my on budget visa account.

I'd be interested in seeing that video. Do they keep those available online?

Yes, here it is: http://www.youneedabudget.com/blog/post/the-why-behind-credit-cards-in-the-new-ynab

 

[robinb]

Yes, here it is: http://www.youneedabudget.com/blog/post/the-why-behind-credit-cards-in-the-new-ynab

Thank you! I think because I leave my credit card transactions uncleared until they are paid, it shows the liability that I owe that amount in my credit card accounts.

I think I'll dig a little more on the website. This is still only my 3rd month and I am still trying to get a handle on what I spend money on so I can budget better.

 

[Shmily1]

I think I do it a little differently. All the credit cards have their own on-budget account. They mark as cleared when reconciled with the website. Because it's on budget, the funds come from the categories right away as if it were cash. I'm able to process the credit card bill payments as transfers from my checking account.

I saw a Whiteboard Wednesday the other day saying how different the newest version is with credit cards. It makes sense as it's using proven accounting methods, I'm just kind of stuck in my ways and don't really want to pay a monthly fee. But then again, it may ultimately be a time-saver.

I don't have many split purchases, but often Costco or Target end up that way.

This is how I do mine. I still have YNAB 4 and plan to keep it until it doesn't work anymore then switch to something else. I'm not interested in a subscription. That's not what I signed up for. When I started with YNAB, I think it said we would have the option to buy into the new versions, not subscribe to them.