Yes, you do need a budget

Because you have to approve every trade at the time of transaction, uh, YNAB requires more maintenance than other apps. I approve transactions a few times a week. However, having to check in often means I can really reflect on my priorities Once I’ve paid off my living expenses, I’ve allocated some money for emergencies, summer camp for the kids, and vacations.

Over the past few months, I’ve also decided I’d rather take the kids out for an afternoon boba than buy myself a latte because I’m bored or need a walk. The goal of Friday family pizza and movie night is to spend time together without cooking; frozen pizza does that better than delivery.

The money in your bank account “ages” as you reprioritize and allocate it further into the future. It extends further and longer. Once you stop worrying about monthly or daily expenses, you can make bigger plans.

“I’m not saying I want people like Money,” Mecham said. (He’s not.) “But what if money really existed? used to be Just the fruit of our labor? Let’s give it the respect it deserves. You can’t give someone a formula and say, “This is what you need to do with your money or you’re not mature.” You want to think about your money in imaginative or creative ways, not Punishing way. “

no shame

Mecham and I both grew up in religious communities. He didn’t bring it up until I brought it up, but he is a devout member of The Church of Jesus Christ of Latter-day Saints, and I was raised a devout Catholic. Which brings me to the second thing I really like about YNAB, it’s also mysteriously built into the UI.

“You need to have a budgeting system that acknowledges human weakness and provides a way to get out of it,” I said. “A lot of apps gamify money or fitness and then punish you. There’s no way to recover from it.”

“That’s grace,” Mecum said. “You’re talking about grace.”

Let’s say you overspend on a certain category. There’s a birthday party coming up and you want a new outfit (even though you already own many, many outfits – this isn’t coming from personal experience or anything), so you make an impulse buy. YNAB automatically shows you still have spare money, allowing you to clear it immediately – and do some thinking. Well, I did go over my clothing budget this month. I will take out the money I have set aside for garden work. Am I really? Prefer clothes to gardening? interesting. You could never tell it from the look in my eyes. Maybe I don’t know.

This is the most interesting thing about YNAB.You can browse the subreddit or Facebook groupit’s really easy to invest in money management software if it focuses not only on the math of budgeting, but also on the psychological aspects.

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