When it comes to personal finance software, making the right choice can be confusing. Personally, whenever I am in doubt as to the effectiveness or whether the program is legitimate, I like to look at customer reviews of the product, both good and bad. By seeing both sides of the product, you can formulate your own conclusions as to whether the software is indeed worth your further consideration.
Let’s take a look at some customer reviews for one of the big boys of budgeting software; YNAB. We will look at some of the favorable reviews and give the same time to the critical ones. First of all, according to the site I visited, http://www.amazon.com/You-Need-Budget-YNAB-Personal/product-reviews/B000QO76HU, there were a total of 230 reviews, with 178 of them being five star favorable ones. There were also 30 four star, 13 three star, 6 two star, and 13 one star reviews.
v According to Ted living in Seattle, YNAB is the best thing that happened to him. The software makes sure that all expenses are accounted for and has helped Ted exert self-discipline with any extra spending
v Cady of Florida says that the YNAB software “rocks.” According to Cady, “YNAB allows you to account for all your annual bills in 1/12 increments and then when they roll around the money is there to pay for them….YNAB is a crystal ball showing the future.”
v To Mark of Phoenix, YNAB has also been a big help. He mentions that “the point of YNAB is not to track every detail of your household finances, but to help you plan ahead through accurate, effective, and simple budgeting.” If this is what you are after, then YNAB is the ticket.
v To this customer from New York, while they like the concept, YNAB requires way too much manual entry. This customer found that Quicken also has good budgeting features and is easier for them to use. All of their accounts get automatically downloaded to Quicken, a feature not available in YNAB.
v According to William of Minnesota, YNAB is great if all you need is a cash flow tool. He reports that after trying the 7 day free trial, he is going back to Quicken. He finds that the reporting and importing data features of YNAB are very weak.
v While he is still using YNAB, T.B. of Miami says he didn’t find the software intuitive to use. It was confusing to him and he had to spend more time understanding the software than he wanted to.
I hope these reviews can help you in your decision whether YNAB is worth a shot for you.