Why YNAB?

Dec 16

What does YNAB even mean?

YNAB stands for You Need A Budget. It is a money management and budgeting app. It originally started as a budgeting spreadsheet, created by Jesse Mecham, to manage personal spending for his household with a new wife and baby on the way. Eventually he started selling the spreadsheet as a way to make some extra money. From there, the idea continued to catch on until we get to the product we have today: YNAB.

On a recent episode of Taking Control: The ADHD Podcast, Pete and I had the pleasure of speaking to YNAB creator, Jesse Mecham. We thoroughly enjoyed the chance to speak with Jesse and learn a bit more about his process and the main principles behind the app.

The Four Rule™ Method

Creating a managing a budget within YNAB follows four simple rules to help you develop a better relationship with your money.

1. Give every dollar a job

2. Embrace your true expenses

3. Roll with the punches

4. Age your money

You can learn more about how each of these rules work on the YNAB website.

Reduce your stress

One of the biggest takeaways from our talk with Jesse Mecham was about discovering the benefits of having a budget.

Keeping a regular budget can reduce, or even eliminate, the stress and anxiety that comes with not knowing how much money you have at any given time, or if you can afford to pay your bills.

How great would it be to not feel a pit in your stomach every time you pull out your debit card, not knowing whether the next transaction will be approved?