Tiller vs YNAB 2023: Which personal finance platform is better?
Keeping an eye on budgets and tracking your income and expenses is a very important financial skill.
By keeping records of your expenses you can clearly see where your money goes and where you can improve your savings.
But this is time-consuming and difficult to set up yourself.
Thankfully, there are now a number of apps that help you manage your finances such as Tiller and YNAB.
|Tiller is Better for||YNAB is Better for|
|All types of Budgeting Methods||Zero-based Budget Specialization|
|Multiple Spreadsheet Integrations||Single-use/No 3rd Party Integration|
|Comprehensive Financial Tracking and Planning (Budgeting, Trend Analysis, Net Worth Tracking, etc)||Budgeting Only|
|Customized Financial Planning and Management Tools and Reports with 3rd Party Collaborations||Sole In-depth Financial Planning|
|Novice or Beginners||Trained users|
Both Tiller and You Need A Budget (YNAB) apps provide you with a breakdown of your spending habits and give you the ability to set financial goals.
You’d be surprised how much you spend on coffee each year.
Both offer valuable tools for you to get control of your money in a very user friendly way.
Let’s look at some comparisons
Tiller VS YNAB: Determining Factors
Financial planning is crucial to ensure overall personal stability. Proper planning gives you confidence in taking control of your money.
Let’s examine some key points that will help you determine which is the best budgeting tool for you.
Factor 1: Third-party Integration
Before any budgeting software tool was created, the best automated financial tools people had access to were spreadsheets.
These were painstakingly lengthy and took a long time to set up. As tech has progressed we now have cloud-based platforms like Google Sheets to help manage financial goals.
The best budgeting apps offer collaborative features with cloud-based platforms for easy data integration.
Because of this, it’s now much easier to track your budget and spending.
Tiller is Preferable to YNAB
- Tiller allows real-time data integration with 3rd party platforms
- Easy import of financial transactions from Google Sheets and Excel
- Tiller Money Labs is very user friendly
Tiller: Third-Party Integration
Tiller Money lets you import financial information into a workable spreadsheet in real time.
All you need to do is link your bank accounts and credit card and the software will automatically download all your financial transactions daily.
You can also download information from Google Sheets or Excel files into your Tiller Money platform for a synchronized comprehensive overview of your financial accounts.
Take control of your budget today and get started with Tiller here.
YNAB: Third-Party Integration
YNAB (You Need A Budget) software is built only for personal capital budgeting.
This means it does not allow for cloud-based integration with 3rd party software or tools.
Still, it provides a very effective approach to personal finance management and can compete with more comprehensive budgeting tools.
Get a handle on your personal finances and get started with YNAB here.
Factor 2: Budget Management Features
Good budgeting software will give you the flexibility to adapt your budgeting style. It should also provide monthly budget templates and automated monthly reports.
YNAB is Preferable to Tiller
- YNAB is tailored to analyze and allocate personal capital
- Facilitates financial planning several years into the future
- Specialized tool with the sole focus of personal budgeting
Tiller: Budget Management Features
Tiller Money offers a very comprehensive way to manage your personal finances and net worth.
It’s also very safe and secure as they use bank-grade 256-bit AES Encryption for all your linked investment accounts.
Once connected, the app can automatically sync your financial information from over 21, 000 supported accounts into your budgeting spreadsheet. This means all your income streams from multiple accounts can be viewed and managed within one sheet.
Say goodbye to manual data entry.
Once all your information is up-to-date, you’ll then get access to hundreds of budgeting templates and graphs that summarize your financial position.
YNAB: Budget Management Features
YNAB offers a very focused list of key features meant to help stabilize your financial future.
It embraces a zero-based budgeting approach which means all your financial expenses have to be justified for the current month.
Right down to your last dollar.
You can customize spending categories for your annual plan based on your debt payoff and savings goals.
The software advocates a 4-rule approach that aims to allocate all your future income into appropriate expenses for the entire month.
Factor 3: Subscription Cost
Because financial situations vary from person to person, the cost of a budgeting tool is an important factor.
Here’s how these two compare below.
Tiller is Preferable to Ynab
- Tiller has a more affordable annual subscription2
- 30-day free trial
- More dynamic features
Tiller: Subscription Cost
Tiller’s Basic annual subscription is $79. That’s roughly $6.58 per month or one latte from Starbucks.
If you’re new to budgeting and want to test the waters before any commitments, you can sign up for a 30-day free trial with Tiller Money.
The free trial gives you access to all features and their Tiller Community solutions.
You won’t be charged until the end of the trial and you can cancel anytime.
Read the full Tiller money review here.
YNAB: Subscription Cost
An annual subscription with YNAB will cost you $99 upfront. You do have the option to pay monthly which costs $14.99.
YNAB also offers a free trial but this time you’ll get 34-days free.
The free trial gives you access to all budget and investment tracking features plus, you’ll get access to the advisory service.
Learn More About YNAB
Tiller vs YNAB: The Bottom Line
At the end of the day, the best budgeting app is the one that meets your specific needs while being simple to use.
Of course, it also needs to fit into your budget.
If you’re new to budgeting and want an easy to use budgeting tool then go with YNAB. It’s more expensive than Tiller, but it does a good job of streamlining everything so you can keep things simple.
Tiller is helpful for those in need of something a little more comprehensive that like to forecast their net worth.