Goodbudget vs YNAB 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
 

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Budgeting is the cornerstone of financial stability and prosperity, yet mastering it can often seem like a Herculean task. Fortunately, technology has given us robust tools to simplify this crucial endeavor.

Among the most popular budgeting apps available today are Goodbudget and YNAB (You Need A Budget). Both have distinct approaches to helping you manage your financial transactions, prepare for future expenses, and achieve your financial goals.

In this comprehensive breakdown, we will delve into the intricacies of each platform to help you decide which one is the better fit for you.

For more detailed analysis of YNAB check out our full YNAB review.

Goodbudget is Better for:YNAB is Better for:
Ideal for envelope method enthusiasts.Best for adopting a zero-based budgeting system.
Great for joint bank accounts with shared budgets.Comprehensive approach to budgeting for financial goals.
Offers a basic version for users new to budgeting.Offers a 34-day free trial for a comprehensive experience.

Introducing the Platforms

Goodbudget

goodbudget.com website

Built around the tried-and-true envelope method, Goodbudget is an app tailored to help you allocate your monthly spending into various envelopes or categories. This is particularly beneficial for families or couples sharing joint bank accounts, as the budget can be divided according to individual spending habits.

The app also offers a basic plan, which makes it accessible for those who are new to budgeting and don’t want to commit financially just yet. For an in-depth look into what Goodbudget can offer, feel free to visit their official website.

 

YNAB

ynab.com website

Short for “You Need A Budget,” YNAB takes a different tack. It employs a zero-based budgeting system, urging you to assign every dollar a job, from paying off debt to investing in your financial future.

It offers a 34-day free trial, which allows you to thoroughly test its myriad features and see how they fit into your personalized spending plan. The premium subscription offers an extensive range of budgeting features and financial reports. For a more detailed overview, check out our complete review of YNAB.

Goodbudget Logo YNAB Logo
Type of Service Budgeting App Budgeting App
Best Use Envelope Budgeting Zero-Based Budgeting
Customer Support Email, FAQ 24/7 Chat, Email
Financial Reports Limited Comprehensive
Current Promotion

More Info

More Info

Modest Money Overall Rating
3.4 rating based on 5 ratings
4.0 rating based on 5 ratings

Goodbudget vs YNAB Video

Factor 1: User Experience

YNAB offers a more comprehensive and interactive user experience

  • Goodbudget provides a simple, straightforward user experience.
  • YNAB is the winner for user experience.

Goodbudget offers a basic budgeting tool, focusing on the envelope method to divide your expenses into categories. While the user interface is clean and intuitive, it may lack the depth that more experienced budgeters seek.

YNAB, on the other hand, is far more than just a basic budgeting app. With a premium subscription, it allows you to import financial transactions from multiple bank accounts and credit card accounts. The 34-day free trial also provides a full glimpse into its capabilities, allowing for a real-time update on your financial picture.

Factor 2: Features and Customization

YNAB has abundant budgeting features, from tracking spending habits to debt payoff plans

  • Goodbudget offers unlimited envelopes and basic budgeting tools.
  • YNAB is the winner for features and customization.

Goodbudget offers unlimited envelopes to segregate your monthly spending, which is a major plus. However, the app does not offer many additional features, such as debt tracking or detailed financial reports.

With YNAB, you’re not just getting a budget planner; you’re investing in a tool that gives you the freedom to customize your approach to budgeting. From real-time updates on spending categories to a detailed debt payoff plan, YNAB offers a slew of features aimed at enhancing your money management skills.

Factor 3: Price and Subscription Plans

Goodbudget offers a free basic version and a premium version

  • YNAB operates on a monthly subscription model after a 34-day free trial.
  • Goodbudget is the winner for price and subscription plans.

Goodbudget offers a free basic version that comes with limited envelopes and budgeting categories. If you opt for their premium subscription, you can access additional features at a reasonable price.

YNAB offers a 34-day free trial but transitions to a monthly subscription model afterward. While it provides an extensive range of features, the cost can be a factor to consider for budget-conscious individuals.

Factor 4: Customer Support

YNAB offers comprehensive customer support including webinars, forums, and direct support

  • Goodbudget has limited support options, mostly via email and FAQs.
  • YNAB is the winner for customer support.

Goodbudget offers basic customer support primarily through email and a section of FAQs on their website. While the service is generally easy to use, the lack of extensive support options could be a downside for some users, particularly those new to budgeting tools.

YNAB shines in the customer support department. Not only can you reach out for direct support, but the platform also offers webinars, forums, and even financial coaching. This multi-tiered approach to customer support ensures that all your questions and concerns are addressed promptly and effectively.

Factor 5: Security Features

YNAB goes above and beyond with multi-factor authentication and secure data encryption

  • Goodbudget offers basic security features like two-factor authentication.
  • YNAB is the winner for security features.

Goodbudget offers two-factor authentication to secure your financial accounts. This basic security plan may suffice for some users who are less concerned about the intricacies of digital security.

When it comes to safeguarding your personal finances and financial transactions, YNAB takes security to the next level. Apart from multi-factor authentication, the platform also employs secure data encryption techniques to ensure the utmost safety of your financial data.

Factor 5: External Customer Reviews & Ratings

External Goodbudget Reviews & Ratings

SiteRating
Trustradius4

External YNAB Reviews & Ratings

SiteRating
PC World5
Google Play4.8 from 15,059 votes
Apple App Store4.8 from 46,308 reviews
Trustpilotynab trustpilot review
G24.6 from 28 reviews

The Verdict

Both Goodbudget and YNAB offer valuable services to help manage your financial future. Goodbudget wins in terms of affordability, but YNAB takes the cake in almost every other aspect, including features, customer support, and security. Therefore, YNAB is the overall winner in this matchup.

If you’re serious about taking control of your finances, getting a handle on debt, and setting up a budget that works for you, YNAB is your best bet. Click here to get started.
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Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.