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You Need A Budget Pro - Personal Finance Software Program Review (continued)
More User Submitted You Need A Budget Pro - Personal Finance Software Program Reviews
Date: 2008-02-09
Going back to Quicken for now
I bought this based on the reviews of the product and the whole concept of sticking to a budget. Unfortunately, because I am a very old school Quicken user, I am used to the features and setup of Quicken. I found this to be VERY frustrating to get up and running, and then found there is no place in the register for transaction type, i.e., check number, electronic transfer, VISA purchase, etc. This is a vital reference function to me. It is taking so much time and energy to try to learn this system that I am giving up for now and heading back to Quicken. And by the way, there is no "index" feature under the help tab. You just have to go to a forum or FAQs. Maddening to try to get answers.
Date: 2008-01-19
Yes Virginia, You Need A Budget!
Before YNAB, it was as if I was walking through a dark cave with a very dim flashlight and I could only see things when they were right in front of me. Not anymore! I bought YNAB Pro last July, and since then, I have made measurable progress in the form of a paid off credit card, a steadily growing savings account and an upcoming annual car insurance payment that I'll be able to pay in full.
If you want to be proactive with your finances, you should seriously consider YNAB. The support is excellent and you can get tons of information through the YNAB forum if you need it.
Date: 2008-01-15
Goodby Quicken - Hello YNAB Pro
I probably cannot add anything to the reviews that have not already been said. One of my majors in college was acconting so I know and like working with numbers. But, all I really needed for my home use was a good computer based budgeting program and not a financial software program. I did not need to duplicate the financial information that was kept elsewhere, ie., my 401(k) and other financial investments.
I still reconcile my banking and credit card accounts, but have saved many, many hours per month by switching to the YNAB Pro software to facilitate my family budget. The information I get with YNAB is pertinent and timely with lots of flexibility for different scenarios.
So....why not use YNAB Pro?
Date: 2008-01-14
Nearly there for a real 5 star
I'm just doing the basic budgeting stuff, not using the account management yet. It was great to hear my wife on the phone asking if something was "in the budget".
I'm a big overspender when it comes to "home upgrades". I like the best of everything and my credit card was starting to show it. This software has helped me in so many ways with respect to money management.
I have quicken and money, but both were really a waste of money for budgeting. They are too complex and just don't provide the "in your face" numbers that YNAB Pro does.
The forum community on his website is also pretty active and questions are answered pretty immediately.
You won't be disappointed!
*******
here is my update
I started using and reviewed YNAB with 5 stars back in January. I'd like to rereview the product now that I have been a faithful user.
First, the budgeting philosophy that the creator penned is interesting. I'm not actually following most of it for now as it doesn't fit with my priorities. However, I am doing zero based "every dollar" must have a job budgeting. When my immediate goals are reached within 9 months, I will follow his rules more closely. With respect to the software, this demonstrates that you have freedom. The "philosophy" and the software can be separate or run in harmony.
I have 4 credit card accounts (for various rewards) and a few bank accounts. I regularly logon to my online credit and bank accounts and download my transactions. This is what confuses some people as Quicken or Money does this automatically. I don't believe YNAB will ever be able to do this because of banks' security requirements. I don't know if banks have to form partnerships with the software companies, but I have a feeling it is way out there in the too hard for a tiny company field. It's easy to import transactions and categorize them.
The planning part is very intuitive. You get an immediate picture of your entire budget month to month and you really are forced to make sacrifices. Are you going to a B&B or are you buying a bird bath? I've actually been planning on my car insurance bill coming since January and for the first time have the right amount saved up to pay it.
I used to spend time with it every night in January. I think this period of intimacy for the first month is required. It's kind of like dieting. To properly diet you must keep track of calories or points because at first there is a learning curve (unless you are on some freakish diet that requires juice and a lot of pooping). Now I use it about once a week. I still am not at the point of always saying no to something that's not in the budget, but I'm slowing down.
The one negative part for me is the reporting. Although this software never advertised itself as something that does reporting, it easily could and should. It has all my data, why can't it provide me with totals. It has some very customizable charts and graphs, but they are mostly meaningless to me. I don't expect it to show me my net worth based on investments, but I do expect a how much did I spend in timeframe X. If better reporting is added in, it gets 5 full stars again instead of 4.25.
***May 1st update: According to the YNAB forums, the reports should be added by summer. The best part is that there will be endless possibilities for reports. My only hope is that some are intuitive, such as just hovering the mouse over a column or total.
Date: 2008-01-03
Great Methodology, Great Customer Service!
I consider myself fairly financially savvy. I understand financial concepts very well and have worked in finance for some time. However, implementing this knowledge is where I get lazy.
I purchased YNAB Pro a week or two ago in order to finally get our finances back in order and figure out where our money was going. When first purchasing the product, I was disappointed that it did not allow for transactions occurring in multiple accounts. I therefore emailed the creator and asked if a refund was available.
He emailed me back within hours and said a refund was absolutely available, but suggested I wait for the new version that would be available within a day. I waited, and was totally impressed! I quickly withdrew my refund request and started using the software.
My experience is that once the concept is understood (which the creator invests a LOT of time in teaching through help materials), the program does exactly what it claims to do. I could not be happier with this program and feel it's worth every penny of its meager cost!
If you struggle with living paycheck to paycheck and not having enough money for your bills, you can't afford not to buy this!
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