My Favorite Budgeting Program Gets An Upgrade: NEW YNAB

NEW YNAB features with Jesse Mecham

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If you could design a budget program for yourself, what would it need?

  • The flexibility to adjust with variable spending or an irregular income
  • Force me to save for emergencies, home improvements, and a new car
  • Automatically insert transaction information automatically based on the store I was in
  • Eliminate the need to spend 30 minutes balancing my checking account every month

YNAB-ICONWait a minute! What did that last one have to do with budgeting?

Well, it does now – and the NEW version of the You Need A Budget program might just sway you away from your old excel spreadsheet as it did me.

Today we speak with Jesse Mecham, founder and creator of YouNeedABudget.

You’ve never budgeted like this…

Upgraded features in NEW YNAB

Not only does NEW YNAB bring along some of the classic features like the ability to enter transactions from your smartphone and use GPS data to pre-populate the information, it now offers:

  • Direct Import of Banking Transactions
  • Goals
  • It handles credit card transactions better

They've also re-written some of their 4 Rules

The New, Improved 4 Rules of YNAB

YNAB has a philosophy underlying everything they do. It's called the 4 Rules:

Rule 1: Give Every Dollar A Job
Rule 2: Embrace Your True Expenses (rainy day)
Rule 3: Roll With The Punches (over/under spending)
Rule 4: Age Your Money (stop living paycheck to paycheck)

Listen to the episode to understand this simple process

Upgraded features in NEW YNAB

  • Web-based program so it runs on everything – including Chromebooks
  • Set and Achieve Financial Goals (aka Savings Goals)
  • Age of Money (No longer assign income to future month?)
  • It handles credit cards better

…and my favorite feature: Direct Import of Transactions. This eliminates the need for me to sit down once a month to balance my checkbook. Seriously!

I also ask Jesse how a couple accesses NEW YNAB. You would share login credentials just like a NetFlix account and many other shared online accounts.

What if I'm not ready to change?

Jesse also tackles my listener's questions about the old version of YNAB (YNAB4):

  • How long will YNAB 4 be supported?
  • What happens when support ends?
  • Have you considered keeping both platforms (stand-alone and web-based membership) if you could provide support on some sort of paid basis?

If not YNAB, then WHAT?

The bottom line for all of this is you need a budget.  You may not need YouNeedABudget, per se, but you need something.

Budgeting what you spend, tracking what you have spent, and looking at what you have left to spend before actually spending it:

  • Makes it feel like you got a raise
  • Makes your money go farther
  • Helps you pay attention – not interest!

Here is a short list of budgeting programs, apps and services you could try:

NEW YNAB ($50 a year)

Dave Ramsey's EveryDollar (Free version or upgrade for $99 a year)

Mint (not really a budget, but helps track spending – free)

Quicken ($30 and up)

BudgetSimple (free version or upgrade for $5 a month)

BudgetPulse (free)

Take my Virtual Budget Coaching Course and I’ll send you my old rockin’ Excel spreadsheet once you finish

Online budget course married couples


Other YNAB resources mentioned in the show:

YouTube video showing how New YNAB looks/works

YouTube video: (Old) YNAB vs EveryDollar from March 2015

Webinar on YouTube: WE LOVE (old) YNAB, but what about Dave Ramsey's new EveryDollar? 

What if I just bought the old YNAB? http://www.youneedabudget.com/blog/post/the-new-ynab-is-here


Also featured in this episode:

Taxes with Andy:

Olive Corley, Tom Corley's mom

Tom Corley's mom, Olive

Andy Magnus, ex-IRS Agent and CPA from ProactiveTaxPros.com talks about what you need to make itemizing make sense

Habits of the Rich:

We honor Olive Corley, Tom Corley's mom with 8 Good Habits I Learned From My Mom

Tom: We are sorry for your loss.

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7 Comments

  • Second Timothy

    Reply Reply February 1, 2016

    Hello Steve. Great interview with Jesse Meecham! You got him to talk about the most important things in the New YNAB. I have been using the new version starting this year. I look forward to several features mentioned in the podcast: Reports, Exporting Data, and importing transactions. I have found that although the old YNAB works great on my ancient Android phone, the new YNAB will not download because I don’t have the latest, greatest operating system. My workaround has been to use the YNAB DIVVY APP on a windows phone f to record the transactions and upload them via excel.csv. This is no longer an option. I can live with this for now. My only remaining frustration is the way the new program was rolled out. I just don’t think Jesse was sensitive to what a paradigm shift he was creating. It has never been clear until now that if you are happy with YNAB4, you will not be forgotten. If I had heard this interview prior to the roll out, many of my fears would have been assuaged.

  • Steve Stewart

    Reply Reply February 3, 2016

    Thanks Second Timothy! I appreciate you voicing your concerns and allowing me to use some of them in this episode.

  • Christine Odle

    Reply Reply February 8, 2016

    As always Steve & Jesse do not disappoint. GREAT show! If you are going to use an App for your budgeting, YNAB definitely gets my vote. I especially like the add on to the credit card – this is what so many stumble on. Yes, it’s debt, but the fact that you can budget for it, and pay it and it works properly like general bookkeeping is awesome! Keep up the great work guys!

  • simona

    Reply Reply February 7, 2017

    As always Steve & Jesse do not disappoint. GREAT show! If you are going to use an App for your budgeting, YNAB definitely gets my vote. I especially like the add on to the credit card – this is what so many stumble on. Yes, it’s debt, but the fact that you can budget for it, and pay it and it works properly like general bookkeeping is awesome! Keep up the great work guys!

  • Remasona

    Reply Reply February 10, 2017

    Hello Steve. Great interview with Jesse Meecham! You got him to talk about the most important things in the New YNAB. I have been using the new version starting this year. I look forward to several features mentioned in the podcast: Reports, Exporting Data, and importing transactions. I have found that although the old YNAB works great on my ancient Android phone, the new YNAB will not download because I don’t have the latest, greatest operating system. My workaround has been to use the YNAB DIVVY APP on a windows phone f to record the transactions and upload them via excel.csv. This is no longer an option. I can live with this for now. My only remaining frustration is the way the new program was rolled out. I just don’t think Jesse was sensitive to what a paradigm shift he was creating. It has never been clear until now that if you are happy with YNAB4, you will not be forgotten. If I had heard this interview prior to the roll out, many of my fears would have been assuaged.

    • Steve Stewart

      Reply Reply February 12, 2017

      Your frustrations are shared with a bunch of other people. However, I know from some brief conversations with him that the new YNAB was where he was headed long ago. I’m certain he was aware of what a paradigm shift it was going to be, but for YNAB to continue to improve and stay ahead of other services like Mint and EveryDollar, they needed to move to an online version.

      I have yet to move to the new YNAB, although it is imminent that we will. I’d gladly pay $5 for the benefit of never having to sit down to spend 30+ minutes to balance our personal checkbook again (it’s basically built into the program, although nobody thinks of it this way).

      Thanks for listening Remasona! Keep paying attention, not interest!

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