If you want to better manage your finances, budgeting apps can be helpful.
- Budgeting apps can make sticking to a budget easier and less stressful.
- You Need a Budget (YNAB) is a budgeting app that offers various budgeting and money management tools.
- A new feature, YNAB Together, allows partners and family members to share budgets and easily manage their finances together.
For many people, budgeting is a great way to stay on top of their personal financial goals and cut down on overspending. Budgeting apps let you manage your finances on the go. A popular budgeting app recently introduced a new feature that lets couples and families manage their money together through its interface.
Budgeting apps make money management easier
There are many ways you can manage a budget, but mobile budgeting apps can simplify the process. If you’re not a fan of pen and paper, this financial app might be for you.
With a budgeting app, you can set spending limits, check your goals, monitor your spending, and stay motivated on your financial journey.
You Need a Budget (YNAB) is a popular budgeting app with valuable money management features like goal trackers, loan repayment calculators, and expense reports.
The company recently added a new feature that might appeal to couples and families who want to improve their financial health together.
Easily manage your finances with a partner or family members
Using budgeting apps together can be helpful if you have a partner or family members who share household financial responsibilities.
It will be easier for everyone to make financial decisions when you are all in the know and have access to the same budgeting tools. In addition, everyone can improve their financial knowledge.
YNAB recently added sharing features. Users can share their budgets and subscription with up to five other people, meaning 2-6 people can be part of a group.
The best part is that you can do this with just one subscription – so there’s no additional cost to access the all-new YNAB Together.
With YNAB Together, each group member can perform the following actions:
- Generate their own YNAB ID and account
- Create and modify an unlimited number of budgets
- Share budgets with group members
- Access customer support
YNAB Together is also kid-friendly, so you can help your kids and teens learn about money. In the United States, people aged 13 and over can use this feature. In other parts of the world, people aged 16 and over can participate in this service.
Whether you’re looking to share your financial journey with your partner, teen, or roommate, it’s now easier with this app feature. YNAB is a paid budgeting app, so this tool is not free. For those on a tight budget, an annual subscription offers significant savings over a monthly subscription.
The benefits of being open about finances with your partner
Although talking about money with a partner or family member can be uncomfortable, it can be helpful. It’s best to be open if you plan to make financial decisions together.
Discussing money and setting individual and shared goals can help you achieve your goals separately and together.
Knowing where your finances are and what improvements need to be made is essential for growth. Without honest discussions, it can be difficult to improve existing money management habits and overcome obstacles such as costly debt.
If it works well for your partnership to keep your finances separate in different bank accounts, that’s okay. Joint bank accounts are not for everyone.
But learning to manage some financial matters together, like budgeting for groceries and finding ways to cut expenses so you can both increase your savings account balances, is a win for everyone’s wallet. . Budgeting apps like YNAB can help you manage your finances with ease.
For additional advice, see our personal finance resources.
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