I recently published a, and a reader asked me how YNAB compares to Quicken. YNAB and Quicken are both powerful and useful financial management tools, but they have different advantages and disadvantages. The key difference is that YNAB Pro is designed for making a budget and acting on it, and Quicken is designed primarily as a tracking tool. You Need A Budget Prois designed as a budgeting tool, and it does this job very well. The goal of YNAB is to track all of your income and your spending and “learn” your tendencies.

We could all use some help with budgeting and saving money. Thankfully, these days there are a variety of technology solutions designed to assist us. Mint.com and You Need a Budget (YNAB) are two website and app-based services that can allow you to track your money, set up budgets and potentially.

After about 30 days or so, you should have a good idea of where your money is going and YNAB will make recommendations for where you can cut back on expenses and how you can better use your funds.YNAB is a, which means every dollar is given a job. As you go through your monthly expenses, any funds that are left over will be assigned a job based on the priorities you assigned it when you set up your profile. The goal is to help you reach your financial goals more quickly and use a budget to your advantage.

Quicken – the Gold Standard for Money Management Tools?Quicken is one of the longest running money management tools, and for many years, it was the gold standard. However, things have changed in recent years. Let’s take a look.There are several different versions of Quicken which offer a similar core capability, but may have a specialized additions. Quicken has released many versions through the years, including Quicken Deluxe, Quicken Premier, Quicken Home & Business, and Quicken Rental Property Manager. If you don’t have specialized business or rental property needs, you should be fine with a copy of Quicken or Quicken Premier. You can.For many years, Quicken was a desktop only software program. Then, when Mint.com launched, Quicken Online became a thing.

Until Intuit, the makers of Quicken, bought Mint.com. Quicken Online was quickly scuttled, as Intuit focused on the Mint brand. The desktop version of Quicken continued, but it seemed like the focus was moving online.

Intuit later sold Quicken to a group of Private Equity investors, who took the brand solo, and turned it into an annual subscription model. This has turned off many. YNABQuicken is a more robust money management tool than YNAB. Quicken is designed to track income, expenses, net worth, taxes, investments, business transactions, rental property information, and even pay bills. But it is also a more complicated tool than YNAB Pro.Another important note is the cost for each of these tools. Cost is a major factor is deciding which tools you are going to use.

Nether YNAB Pro or Quicken is free.YNAB is going to cost you $6.99 every month, while Quicken is going to range anywhere from $34.99 a year to $89.99 a year, depending on which plan you choose (if you pay for 2-years, you get a slight discount).The Starter package is their cheapest option. This lets you view all of your accounts and categorizes your expenses. At $34.99 a year, it comes out to be just less than $3 a month.

This is half the price of YNAB, but price isn’t everything. Because this is the cheapest option from Quicken, you won’t get all of the tools and advantages.Another unique advantage of YNAB is the additional support you can get. They have excellent customer service if you have any problems, but you can also use some of their other channels if you need help.

YNAB has a forum you can use. More than likely, other people have had the same questions, and the forum is a quick way to find the answer.On the other hand, there are some things Quicken delivers which YNAB doesn’t. One of those is your 401k statements and other advanced investments. YNAB Pro likes to keep is simple, which can get in the way of some of the more complex financial aspects. Which is better – YNAB Pro or Quicken?Quicken and YNAB are very different tools, so it depends on your needs.

If you are simply looking for a budget or money management tool (as in cash flow and expenses), then I would recommend over Quicken. YNAB Pro is much easier to set up, use, and navigate. And for most people, easier is better.Quicken can also be used as a budgeting tool, but it is better equipped for tracking expenses, not “giving every dollar a job,” and making recommendations for your money. If you need a tool for tracking investments, net worth, assets, business income/expenses, rental properties, or other more advanced features, Quicken is a better option than YNAB. P0171 nissan. I was previously a Quicken user, but have since. Ryan Guina is the founder and editor of Cash Money Life. He is a writer, small business owner, and entrepreneur.

He served over 6 years on active duty in the USAF and is a current member of the IL Air National Guard.Ryan started Cash Money Life in 2007 after separating from active duty military service and has been writing about financial, small business, and military benefits topics since then. He also writes about military money topics and military and veterans benefits at.Ryan uses Personal Capital to track and manage his finances. Personal Capital is a free software program that allows him to track his net worth, balance his investment portfolio, track his income and expenses, and much more. I’m all about Quicken.

But, sadly, I haven’t tried anything else. My mom got me Quicken when I went to college 11 years ago, and I haven’t looked back. I thought it was so cool, so beyond the pencil and paper method I used through junior high and high school.

I love Quicken. It’s easy, and I don’t want to migrate my finances elsewhere. I find that the budgeting tools and expense reports work well for me; they’re especially helpful when my husband says “where did the money go?” and I can show him how many times he nipped over to the sandwich shop 😉Anyway, it may be lazy, but I’ve been with Quicken so long that I just don’t want to shift anywhere else, especially since Quicken meets my needs. I have used Quicken at work (law office), MS Money and YNAB (at home). I do not like Quicken at all. I finally got my boss to change.

I do like MS Money better than Quicken at work BUT at home you CANNOT beat YNAB Pro. I absolutely love it. YNAB 3 is getting ready to come out and I will be the first to purchase it. It is so worth the money. We love the way we stopped living paycheck to paycheck and now have a savings and see every month how we budget for different catergories. It is the easiest program I have used to date and actually fun. I don’t usually gush about a software program, but YNAB is an exception.I used to use Quicken, but it wasn’t a very effective tool for keeping me and my wife on budget.

I ran across YNAB recently and L-O-V-E it. Using YNAB, I finally have control over our spending habits. YNAB also enables me to balance my checkbook and credit card account easily.One more thingthe training resources and customer support at YNAB are excellent. They have a very helpful video library that quickly shows you how to do any operation you may have a question about. When I e-mailed YNAB’s customer support desk about a particular question, I received an answer within 24 hours. How great is that?!I strongly recommend that anyone who is trying to live within a budget take a look at YNAB.

You won’t be disappointed. I’ve been hunting for good software for a few months. Initially I bought quicken but soon after installing it on my computer I added a hard drive – which ruined my license key because it thinks it’s a different computer if you modify any of the hardware specs. This drove me crazy – and as the help line charges you a ridiculous amount of money to reactivate your license key to your “new” computer, I gave up.

I wasn’t going to go through this every time I did something to my computer. I then found YNAB a few days ago and am on the 7 day trial and loving it. Seems easier to use quicken too. I’m just still a little infuriated that I wasted money on quicken.

Though I started off with MS Money, I have been a Quicken user for the past many years. After reading a lot of positive YNAB reviews, I thought of giving it a spin.In one sentence, its not an apples to apples comparison. YNAB is a Budgeting tool ( a uni-tasker). Which it does extremely well.

So if your single purpose is Budgeting then YNAB is certainly better than Quicken. It uses a simple flash based interface, which doesn’t overwhelm you.Quicken on the other hand is a comprehensive Financial Management software. You can do Budgets, financial goal setting tracking, assets and liability tracking, investment portfolio management, debt management etc etc.I have used Quickens budgeting feature for years and have had a good amount of success with it. But for me, YNAB being a unitasker is a deal breaker and also that YNAB Pro costs twice as much as what I normally pay for Quicken Delux makes it even more of a hard sell. I’m looking for something that does BOTH.

I liked the look of YNAB, but I want to see what I spent LAST month so I can start getting a better handle on where my money is going now, not in 30 days. Does Personal Capital do that? I want something like YNAB or Every Dollar for looking forward and giving every dollar a job, but I feel the need to track my last few months’ outflow so I can start trimming expenses. I’m having an awful time finding something that does both. I tried Mint for a year, but they kept having problems syncing with my credit union AND my Discover card.

I got so frustrated with them, I deleted my account. Please tell me something is out there for me! Disclaimer: The content on this site is for informational and entertainment purposes only and is not professional financial advice.

References to third party products, rates, and offers may change without notice. Please visit the referenced site for current information. We may receive compensation through affiliate or advertising relationships from products mentioned on this site. However, we do not accept compensation for positive reviews; all reviews on this site represent the opinions of the author.Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

How Does YNAB Work?YNAB allows you to automate your. This is the perfect choice if you are looking for a system that solely focuses on budgeting rather than investing and other bells and whistles.With YNAB, you can deal with debt and set priorities for upcoming expenses and other financial goals.If you follow the “ you will see improvement in your spending, spend less than you earn, and be ready to save for the future. The goal is to cover this month’s expenses with last month’s income.This process is called where your money has to be at least 30 days old before you can spend it.

YNAB Rulesare the building blocks to help you live within your means.If you follow these steps, you will be able to save efficiently, get out of debt, and most importantly, stop living paycheck to paycheck. Rule #1: Give Every Dollar a JobEach dollar should be used for a certain expense. Rather than spending on whatever comes your way, you will have more organization and order with your spending.

Rule #2: Embrace Your True ExpensesMost people say they had that just “came up”, but the truth is that many of these expenses should be anticipated, such as birthdays and holidays. Your, or you will constantly struggle with sticking to your budget.Other expenses include larger expenses that occur less frequently, such as vacations, holidays, routine car repair, and annual medical expenses. YNAB advocates budgeting money for these expenses and allocating funds to pay for them on a monthly basis. This concept is referred to as the “.” By spreading these expenses across the year, you will have less stress and more control over your finances.

Rule #3: Roll With the PunchesCertain will creep into your life and catch you off guard. You will also have certain months where you overspend in certain categories. By embracing this principle, you will be able to make when you overspend or have unexpected expenses. Just move money from one category to another, and keep going. Don’t let small setbacks get you off track - keep the momentum going! Rule #4: Age Your MoneyWhen you spend money that you earned last month, you will have this month’s income to roll forward to the next 30 days. You will not stress when there are delays with your cash flow.

To successfully you should be spending money that is at least 30 days old.The YNAB website also offers live online courses for members, including guides and that cover transitions, long term planning, and dealing with debt. How Much Does It Cost?Priced at YNAB will give you a high return on investment when you see how much you save with this budgeting program.

YNAB offers a 34-day free trial so that you can see for yourself if it’s a good choice. The best part? They don’t even ask for your credit card information! The GoodThere are so many great things about YNAB. From budgeting guidance, useful how-to guides covering topics like how to prioritize and deal with debt, YNAB is user friendly and easy to update.

Extremely User Friendly And Easy To Navigate/ Comprehensive budgeting With AppYNAB takes a simple approach to setting up your budget - just connect all of your accounts and start budgeting. All you need to know is how much you have right now, and how you plan to spend your money until you get paid again.When you apply the concept of “aging your money”, you won’t have to live like you’re living Customize Your CategoriesYNAB automates your spending while letting you customize your categories, budgeted amounts, the names and order of all categories. You can make manual entries, but with YNAB’s secure account linking, it is much easier to import your transactions.If you connect your accounts, YNAB will analyze your spending habits, and even guess categories for you. If transactions are bold, that means they are new, and haven’t been categorized yet.Some categories might change, especially with stores such as Target, Wal-Mart, Costco, and Sam’s Club.

You might be buying groceries, or you might be buying furniture, camping gear, or a new barbeque grill.Change the categories as they apply to each transaction.Rather than just assigning categories like, YNAB gives you suggested categories, and you just review and approve. You are forced to know what is going on with your money.Not only does this hold you accountable, you will also be able to quickly identify and report any fraudulent activity on your accounts. Split Transactions For Laser Focused BudgetingOn that note, if you go to Target and buy a bunch of items that fall under different categories, you can even split transactions. If you went to Target and bought groceries, power tools and beauty products, you can easily split the transactions by category. Accurate Starting BalanceWhether you’re going to use the software manually or connect it to your accounts, you just start with whatever amount of money you have right now, and go from there. Say you have $225.00 in your bank account, then $225.00 is the number you will start out with to allocate your expenses.If you budget more money than you have, it’ll turn red. Conveniently Link All AccountsYNAB offers the option to securely connect all of your bank and credit card accounts, or enter everything manually.

Then, all you have to do is import your transactions into budget categories. Easy To Set Up Sinking FundsWith YNAB, you can set up a sinking fund and never be stressed about larger expenses again. It is similar to a “rainy day” fund, except you are setting aside money for a large future expense, whether you know the exact amount or not.

You could have a sinking fund for things as small as renewing your annual $258 vehicle registration. Just add a category for vehicle registration, budget $21.50 for each month, and you’re set! Easy To Make Adjustments For Overspending And Moving Extra MoneyIf you in one category, that may be a sign that you need to budget more money for that category. If you have extra money in one category, you can move it to another category. Move it to a category for entertainment, use it to pay down debt, or roll it over to the next month.

Quick Budget and Spent Last Month CategoryThe “quick budget” box on the right of the image below helps you fill in your monthly budget quickly using the “spent last month” category.The “spent last month” category is helpful for the fixed categories for easy reference and side-by-side comparison. You can see what you spent last month and plug the number in.Aside from that, the “quick budget” feature lets you see exactly how much you spend in each category, and then make necessary adjustments. Prompt Customer ServiceYou can search their detailed help center for easy-to-understand explanations or quick video tutorials. If you need extra help, you can send a message to customer service by clicking on the question mark in the corner. Mobile AppYNAB has a mobile app feature available through the App Store or Google Play. You can use the same login credentials for the mobile app that you do for the desktop version. Blog and ForumYNAB has several detailed blog posts and topics that are updated regularly.

They discuss habits, behavior, and other mindset shifts needed to stick to your budget.If you want to see how other people are using YNAB, you will also have access to other YNAB users who share their budgeting strategies, questions, and helpful tips. Get support and encouragement from other YNAB users, and share your stories in the forum. Site SecurityYNAB doesn’t mess around when it comes to security.

Since your financial data is in the software and app, you can rest assured that data is encrypted, and they use multiple iterations of a key derivative function for passwords.The data is encrypted, and when you terminate your account, your data is wiped from their system. ConsLike anything, there are a few minor drawbacks, but definitely no deal breakers.

App LimitationsIf you only want to use YNAB on your phone, you may have a problem, since you cannot set up your budget on a mobile device. You must set up your budget from the desktop. After that, you can use. The app is especially useful to check your budget from anywhere (especially before shopping), and it also syncs with your account. Treatment of Credit Card TransactionsYou can connect your credit cards to YNAB, but when you spend on a credit card, YNAB automatically moves the money from the category to the credit card.

Then, when you pay your credit card payment from your bank account, the transaction is.It takes a while to get used to, and some people are confused. Once you get past the learning curve, this is easy. Is It Worth The Money?If you are having trouble sticking to a budget, and you find yourself with little savings, YNAB will help you get smart about your money and get back on track.Most people don’t have the discipline to budget without some extra help. Take advantage of the and give it an honest try- you’ll be surprised.Have you used YNAB?

If not, what budgeting apps and tools do you use? Leave a comment below and let us know!.Filed Under: Tagged With:Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval.

Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company.

It is not anyone's responsibility to ensure all posts and/or questions are answered. About Robert Farrington. Robert Farrington is America's Millennial Money Expert, and the founder of, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about himOne of his favorite tools is, which enables him to manage his finances in just 15-minutes each month. Best of all - it's free!He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a mix of properties through.

Worth a look if you're looking for a low dollar way to invest in real estate. I tried YNAB briefly for the 34-day trial period.

It has a very steep learning curve and when it did not work properly for me and did not meet my expectations of how a budgeting platform should operate, I was immediately jumped on, hounded, and insulted by YNAB’s fanatical fanbase. I will never in a million years touch that software again! Mint, on the other hand, is nice enough, but it really doesn’t provide much more information than Bank of America’s website “My Portfolio” functionality. Mint doesn’t even link to as many sites as BoA’s does. I guess it’s okay for getting an overall view of your money, if you don’t have a BoA account.