YNAB vs. HoneyDue: What’s the best personal budgeting app for you?

FeaturesYNABHoneydue
Budgeting
Implements a unique method where every dollar is assigned a job within budget categories. This helps control overspending and ensures users live within their means.
Allows users to view and manage their budgets and transactions in one place, proving a simpler overview of spending.
Expense Tracking
Tracks expenses and categorizes them, making it clear where spent money goes. This is particularly useful in identifying patterns in online shopping expenses.
Tracks and categorizes expenses. Couples can view the spending habits of each other, providing a more comprehensive overview of online spending patterns.
Online Shopping Habits
Offers detailed spending reports with a specific category for online shopping. Any spending spikes are clearly indicated, aiding in understanding and controlling online shopping habits.
Categorizes online shopping expenses and provides updates on spending patterns and reminders about budget limits – a useful feature for controlling compulsive online shopping.
Bill Tracking
Allows users to plan for larger, less frequent bills. This ensures these expenses do not disrupt the budget, helping maintain control over online shopping with the rest of the budget.
Allows users to see all bills, mark them as paid/unpaid, comment on them. The focus on communication can help align spending habits, including online shopping.
Cost
$11.99 per month or $84 annually after a 34-day free trial.
Free to use, with optional in-app purchases for more premium features.

Managing personal finances can often be a difficult task, especially for compulsive online shoppers. Fortunately, the development of financial planning applications like You Need A Budget (YNAB) and Honeydue can make this task more manageable. This blog post will compare and contrast these two popular budgeting apps, focusing specifically on their ability to help users understand their online shopping habits.

Overview

YNAB is a budgeting tool designed to help users “give every dollar a job”. This means you assign each dollar you earn to a specific budget category. YNAB is top-rated for its effectiveness in helping people control their spending and save more efficiently.

Honeydue is a budgeting tool specifically designed for couples, allowing both partners to track their spending, bills, and budget together. However, its applicability isn’t just limited to couples and can be just as effective for individuals.

Features

Budgeting and Expense Tracking

YNAB uses a budgeting method where the money you spend in the current month is the income you earned last month. This technique helps you live within your means and avoid overspending. The app automatically tracks your expenses and categorizes them, making it easier to see where your money is going.

Honeydue, on the other hand, allows users to view their balances and transactions in one place, making budgeting easy. It also tracks expenses but goes a step further to provide a joint comprehensive overview, providing insights into your partner’s spending habits as well.

Understanding Online Shopping Habits

YNAB offers detailed spending reports where your online shopping expenses fall under a specific category. If there’s a spike in your online shopping costs, the app reveals this clearly. This feature helps compulsive online shoppers understand their spending habits and make adjustments accordingly.

Honeydue also categorizes online shopping expenses and shows them in the shared statement. It regularly updates spending patterns and sends timely reminders about approaching budget limits.

Bill Tracking

YNAB provides an avenue to plan for larger, less frequent bills, making it easier to manage these expenses without breaking your budget.

Honeydue shines in this department by allowing couples to see all bills, mark them as paid or unpaid and comment on them. This feature fosters communication about shared financial responsibilities.

Accessibility and User Experience

Both YNAB and Honeydue offer modern, intuitive, user-friendly interfaces accessible across multiple devices. That said, YNAB’s learning curve can be steep for some users due to its unique budgeting philosophy. Honeydue is a bit more straightforward and less overwhelming for budgeting novices.

Cost

YNAB offers a 34-day free trial, after which it costs $11.99 per month or $84 annually.

Honeydue is free to use, with optional in-app purchases for more premium features.

What Else? Are these not the perfect fit?

Curious what else is out there in the land of personal budgeting apps? Not convinced that this is right for you? No worries! We’ve analyzed and compared 42 (!) different pairs of personal budgeting apps and you can check out our main jumping-off point for the set of reviews here: Choosing a Personal Budgeting App – What’s Right for You?

Have a personal budgeting app that you’d like our thoughts on? Drop us a line and we’d love to add it in. 🙂