383686022_Personal finance app
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Personal Finance App
STUDENT’S NAME
INSTITUTION
COURSE
NAB
“You Need a Budget” - YNAB
Financial management isn’t the easiest thing to do
Many people experience challenges balancing their expenses
with their bank balance
Personal finance apps prove to be helpful in controlling your
spending
YNAB – “You Need a Budget” is one of the personal finance
apps that people use to manage their money
Description of the APP
A budgeting app providing an effective technique for paying off
debts, saving more, and achieving total control of your money
(Irby, 2022).
The app is built around four rules that include: -
◦
Every dollar counts
◦
Watch your money age
◦
Appreciate every true expense
◦
Roll with the punches
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Main Features
Bank Sync feature that enables accounts to
synchronize and ensures total control of your entire
finances in one place
Real-time expense tracker
A loan calculator that helps keep track of all debts
Goal tracking feature that helps manage
Spending and net-worth reports
Ads free, ensuring a rich consumer experience
A friendly and incredible customer support (Irby,
2022)
Reasons for Choosing the App
I selected the app because: -
It provides detailed and up-to-date budgeting and spending
reports
It is easy to use, and access recently added transactions
Ability to maintain cozy and organized transactions
Ability to view and edit any loan account (Payne & Foreman,
2022)
Reasons for Choosing the App
The availability of a free trial version
also influenced my app selection.
The paid version is relatively cheap and
affordable
It is the best way to invest in peace of
mind
It is best to keep track of debt payment
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Personal Finance Goals
My main finance goals include: -
Settle all my debts by the end of the year
Save for retirement
Plan for vacation
Start an emergency fund as soon as possible
Minimize my spending
Impact of the App on meeting my Personal
Finance Goals
The app has a loan planner tool that will motivate my
desire to pay off debts
The goal-tracking tool would ensure I turn my financial
goals into reality, including planning for a vacation and
saving for retirement (YNAB, n.d.)
The ability to visualize my spending and budget reports
would help in cutting spending where possible
References
1.
Irby, L. (2022).
Best personal finance apps.
The Balance.
https://www.thebalancemoney.com/best-personal-finance-apps-4170650
2.
Payne, K & Foreman, D. (2022).
YNAB budgeting app review.
Forbes Advisor.
https://www.forbes.com/advisor/banking/ynab-budgeting-app-review/
3.
YNAB. (n.d.)
Why YNAB?
YNAB.
https://www.youneedabudget.com/?irclickid=SssX2xy1DxyNTNvR-GUvpUsJUkA0%3A
FSr1XdsUY0&irgwc=1&utm_medium=affiliate&utm_source=Dotdash
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