Why Pocketsmith is the best alternative to YNAB?

YNAB, which stands for You Need a Budget, is an app that was designed to allow you to get a grip on your finances. The basic idea behind YNAB involved the use of the envelope method where you put money into a category for spending, such as food, rent or car payments. The motive to create a single budget with different categories seemed to be effective at that time.

Pocketsmith was soon developed and became the rival software to YNAB. https://www.pocketsmith.com/ynab-alternative/ offers a comparison between them and YNAB. With Pocketsmith, you can create folders for rent, utilities and groceries. For example, let's say you have your Utilities folder. Maybe you spend roughly $275 out of $300 that you've saved just for that. In that budget, you can estimate that you are saving around $25 on your gas and electricity. In short, you have a surplus that can be saved for other expenses or a possible rainy day.

The Calendar section allows you to gain foresight into the future of your finances. From here, you can glance over your expenses for upcoming months and get an overview of your bank account balances and your assets. The information is given in graph form where you can visualize your budgets and see if you might be saving any money.

The Forecast graph gives you a complete trajectory of your spending habits and compares them to make logical predictions regarding the future of your budget. Here you can see your information divided into four distinct colors: green, red, blue and orange. Green means that you have a positive balance that's left over from a budget after a bill has been paid, while red signifies that you are currently overdrawn.

Blue and orange are the colors that foresee what might happen as you continue to spend for each of your budgets. Blue will forecast a potential money surplus, so if you see it anywhere in the graph, then it's a good sign. Orange warns you that there are months where you may wish to plan for an overdraft or a shortfall. In any instance, this site can help you in planning financially in advance. And if you see that you have leftover funds, they can be used to cover a possible negative balance.