You Need a Budget Review: A Budgeting App That Will Change How You Manage Your Money
Review
Updated
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Bottom line: This paid budgeting app will show you how to manage your money better so you can put every dollar that you make to good use.
| iOS app rating | 4.8/5 stars |
|---|---|
| Android app rating | 4.8/5 stars |
| Cost | Free trial for 34 days. Then $14.99/month or $99/year. |
You Need a Budget (or YNAB) is a popular paid budgeting app. While some budgeting apps only show users what they've already spent, You Need a Budget focuses on zero-based budgeting. The app teaches you to put all of your money to use -- including using your money for expenses, paying off debt, and saving extra money.
You Need a Budget has four rules:
Once you follow these rules and adjust your money management habits, you'll have better control of your finances and be less stressed.
To get started using the YNAB app, you'll do the following:
It's a good idea to gather copies of your bills and financial records to ensure you note all of your expenses -- both regular and occasional expenses that you pay. It may also help you to look at past credit card statements and bank statements. While it takes time to get everything set up, it will allow you to use the app effectively.
For many, using this app will change their budgeting habits for good. Our detailed You Need a Budget review will better explain its top features and capabilities.
YNAB focuses on putting every dollar you bring in to work -- whether it's towards expenses, paying off debt, or adding to your savings. This zero-based budgeting approach will result in less wasted money and more money saved.
Many of the other best budgeting apps only send alerts that you've exceeded your budget after you spend the money. YNAB teaches you how to be in control from the start by budgeting your money for the whole month. That way, you can check each category and see if you have the funds to spend on a particular purchase. For many users, this results in making fewer impulse buys and makes managing personal finances easier.
You can feel comfortable using YNAB because it's a secure app. The company has password rules to help users create stronger passwords. All data is encrypted, and if an account remains inactive for a long time, the budget data will be deleted as an extra security measure.
When you use YNAB, you can connect and sync your financial accounts. This will make it easier for you to see where your finances truly stand. You also have the option to enter your financial details manually.
YNAB encourages its users to put every dollar to work. That means no money gets wasted, and extra money gets saved. Because of this, the app features goal-tracking tools. The app lets you set money aside for the following goals:
Keep Reading: YNAB vs. Rocket Money
The app's new YNAB Together feature allows members to share their budgets with others, making it easy to manage your finances as a couple or family. You can add up to five additional members to your group at no extra cost. This feature is unique for budgeting apps.
If you like to track your progress and also appreciate graphs and charts, then you'll enjoy the reporting features included in YNAB. Some of the reports that you can view include:
Using You Need a Budget regularly will cost you money, but you can take advantage of a 34-day free trial. This will allow you to test out all the YNAB budgeting features and decide if you want to commit to the subscription fee. The company also has a free Debt Boot Camp that you can do while you're on your free trial. Resources like this can help you prioritize your debt payoff goals.
RELATED: Want to eliminate your credit card debt quickly? Check out Motley Fool Money's guide on how to pay off credit card debt fast.
YNAB wants you to succeed with your budgeting goals. To help you improve your financial efforts, it offers multiple live educational workshops throughout the week, where you can learn more about budgeting, money matters, financial tips, and savings tips. These personal finance guides are something that competitor money manager apps don't provide, so it's a perk that stands out.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
|
Earn a bonus of at least $225 after a one-time deposit of $25,000+.
Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.70%
Rate info
3.70% annual percentage yield as of April 4, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.
Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
If you're looking for a free personal finance solution, this isn't it. The app offers a free trial, but you'll need to pay for it after the trial ends. Other free budgeting apps are on the market, and some paid apps cost less. Those apps may work for you if you don't have a lot of money to spend on paid apps at the moment. However, YNAB is packed full of features, and that may make it well worth the investment.
You Need a Budget takes time to learn. That's because the app has a unique approach to budgeting with its four rules in place. You'll need to spend time:
It also takes time to learn to follow your plan. If you're ready to make financial changes, this time will be well spent. Just don't expect to be able to set up and learn YNAB quickly.
If you're looking for a budgeting tool that will allow you to pay your bills, this isn't it. You Need a Budget will help you budget your bill expenses, but you'll have to pay them off the platform. Other personal finance apps, like Quicken, allow you to pay your bills within their app.
Monarch Money is a good alternative for anyone who already has a good handle on monthly payments and needs a robust, comprehensive, and customizable financial management tool.
2025 Award Winner
Rocket Money is a good alternative for anyone looking for a budgeting tool that can help reduce unnecessary subscriptions, negotiate bills on your behalf, and monitor your credit.
2025 Award Winner
YNAB offers a free trial, which is valid for 34 days. After that, a membership costs $14.99 per month or $99 when billed annually.
You Need a Budget is a good fit for people ready to make serious financial changes. While this app comes at a price, it could help you improve your budgeting skills and ensure that you put every dollar you make to good use.
You Need a Budget is a paid budgeting app. You'll need to pay $14.99 monthly or $99 annually to use this tool. However, a 34-day free trial is available. The free trial allows you to test all the YNAB budgeting features before investing in a paid subscription.
You Need a Budget uses zero-based budgeting, which is a method that allocates every dollar to a purpose so you can put your money to good use as you learn new spending, saving, and debt payoff habits. Many other popular budgeting apps show you how you spend money after the fact. If you're interested in learning a new way to manage your money, YNAB may be a good fit for you.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
