I used to fear subscriptions until I found the best app that could make budgeting money easier. I was not too fond of the idea of having to pay for something continually. It feels like it was a contract I would be tied into for longer than I'd like. I didn't like being reliant on something and having to pay monthly or yearly made me feel restricted. I never had an issue spending money on something once, but the idea of a recurring charge never sat well.
I began to change my mindset over the past year, focusing on money. The idea of a monthly or yearly membership has changed for me. Instead, I started to think of these services as an investment in myself, my family, or my new business venture. Self-investment is something I've become passionate about in my daily life. Please read about it in this blog post. If it saves me money or time, it's worth it.
If it keeps me happy, healthy, or saves me money, it's worth the cost
I keep track of these subscriptions. Once they don't help invest something of use for me, then I cancel them. Some have been for research, and some apps are utilized daily. Some have saved me thousands of dollars, while others give me a much-needed break. In this article, I am sharing my most valuable player in the subscription game. I have no affiliation with YNAB. However, I love what they have done for my life, and I want to share it with you. Maybe they will get wind of my appreciation….
This app has been the most significant change in the subscription world for me. Honestly, it was the app that eventually forced me into this world of subscriptions. I started with YNAB (You need a budget) back in 2014. Back then, I paid a one-time fee and had the app forever. Unfortunately, my husband is the type that wanted to run when I brought up budgeting. In his mind, he thought we weren't going to do anything fun on this so-called budget.
YNAB is a budgeting app that makes budgeting your money easier that is based on giving every penny a job
The most significant reason I love this app is that my paycheck fluctuated every pay period when I was making only commission. Some weeks clients would cancel at the last minute, but the bills always stayed the same. This way of budgeting allows me to put my essential bills in first. Then, if there is any money left over, you can budget wherever you like. If you overspend on eating out, you can move money from another category. It keeps you accountable for your spending.
This concept allows you to make categories like monthly bills, yearly bills, everyday expenses, rainy day funds, and saving goals. Think of the envelope method but in an app form. So when your car has issues, you have a category to plan for that. Not needing to scrape money to pay for it takes so much pressure off. It also allows you not to rack up the credit card. When you want a new tv, you can put just a little bit of money each month into that category. Before you know it, you got that new TV on the wall. You can start saving for Christmas in the summer, so you aren't stressing about the spending come December.
Honestly it has changed my mindset towards money and I look forward to budgeting
We paid down over $50,000 in student loans in just a couple of years while still living comfortably. My husband and I had just relocated. I was not making the income I had been used to in the previous years. His income did increase, but we were still not making what we were before we moved. We still went on vacations, ate out, and bought things that might have been considered unnecessary.
Just like anything you start to build, it takes time. When we started back in 2014, our primary goal was to pay my husband's student debt. We used most of our savings towards this debt. We had a pretty small emergency fund, and any extra money went to the student loans. We made a plan, and we stuck to it.
This is more than a budgeting app, YNAB teaches budgeting as a part of your subscription
YNAB has so many free resources to teach you how to manage your own money well. They have interactive classes, on-demand videos to teach you, and customer service that is always super helpful. Keep in mind this app is beneficial for you to budget your money. This concept lets you stay in control of your money. I tried a few other options, but I have found YNAB to be the best app to make budgeting your money easier. However, it only works if you show up to do it.
After we paid the student debt off, we then built our emergency fund. From there, we added little by little to each category to help whenever that rainy day came. So when that annual fee comes up, we have it ready. If you have a bill that can save you money by paying quarterly or annually, you can set it up for smaller increments.
In 2019 they upgraded their system and launched a more interactive app that had an annual subscription. We could still keep the classic version, but I stayed firm for about six months after this upgrade. Finally, I decided to give the free trial a whirl to see if it was worth the yearly subscription. I didn't think it was going to be that big of a difference to switch. I should have known better.
They know what they are doing to help us become financially better off
Their classic version could help find the difference between missing money, and I still had issues matching up balances. Even if it was only a few cents, it drove me crazy until I found the problem. Their new app allows you to connect with your accounts. It matches transactions to help even more to find an incorrect input. Since the new budgeting app to help budget your money easier, I haven't had to balance transactions to reconcile my accounts.
The new version also allows you to put monthly, quarterly, and yearly transactions. When budgeting, it will show that category as yellow to let you know this bill is coming up. It signals that you need to budget for the upcoming expense. If it is red, that category has been overspent. You must take money from another category to balance it out. If the category is green, you have money in that category that covers the bill and possibly more.
The easy part of this budgeting concept is to age your money
This concept helps you to stop living paycheck to paycheck. It brings a better relationship between you and money. You will see where some spending should be reduced. You will know where those unexpected but “happens to everyone” costs, and you become a bit more accountable. I've always had the mindset that I must save X amount of money before buying something I've wanted. This app helps either support that mindset or help guide someone into that mindset.
Some of you know that my family had some hardships the last couple of years. A big part of it was financial. My husband's company was bought by another company, leaving him without a job for some time. I had just had my son, which left me going back to work only four weeks postpartum. Both my kids had surgeries within weeks of each other. Our house had mold, which brought on too many doctors appointments to count and very costly remediation.
Between all of that, we had more than $45,000 in expenses in just a few months. The costs were from doctor visits, hospital expenses, and the necessary house remediation/renovations. We did have to take a loan from someone to pull through. If it weren't for our budgeting, we would have been in significant debt from all these occurrences. Instead, we were able to refinance our house, which also helped us get right side up. Some of the remediations were new siding and roof, which gave our home a major upgrade.
Having a good relationship with money is important so you don’t become resentful of the expenses life brings
I do like to budget, but I am not a financial wizard. We pay someone to do our taxes and have someone to help with our retirement. This app allows people who might not have any financial knowledge to learn how to control how they spend their money. It enables you to save for the things you want to enjoy in life and not feel guilty. YNAB is the best app to make budgeting your money easier. It reminds me of the envelope method, which I implemented as soon as I started working at age 14.
Most people aren't entirely prepared for unexpected occurrences. Even with the pandemic, so many people are left without jobs and homes. You might not be able to plan for the worst. But, maybe you can prepare for a better tomorrow. Every day that you show up to make better choices financially, you invest in yourself.
If this budgeting-made easy concept sounds like something, you'd be interested in, here is my referral link. YNAB has a free trial to see if this budgeting app is suitable for you.
I hope this inspires you to take better control of your finances in what feels suitable for you. Until next time,
With Gratitude,
Cara