Paying on a rolling subscription
I'm evaluating the new version in an attempt to try to justify the trickle drain to make it up to ± 84 $USD a year. It converts to £GBP and it's ± £63 p.a using today's currency rate.
Tell me again why you went down this route a few years ago.
It's all right for people in US - their annual rate isn't affected by exchange rate, but every one else is affected.
Many of your customers are either in major debt or, like me, on low incomes and because it is a rolling subscription and I'm not using USD, I can't predict how much it will cost at the end of a year because of the exchange rate fluctuation.
It used to be easy, I looked at a bit of software and if I could justify the expense and I had the money, I'd buy.
Now I feel I'm buying a pig in a poke; not knowing whether I'm going to have enough even with putting money away every month.
How do other non-US residents find this dilemma?
I'm a US resident, but here's my take on it.
Although you have the added unknown of how the exchange rate will fare in the future, there is always a chance the subscription rate will increase over time, so even here in the US, spending US dollars, there's no guarantee of a consistent cost. For me, after trying nYNAB at the beginning and giving up on it, I am back and have subscribed at the $84/year rate, minus my YNAB4 discount. It's worth it, and I will probably re-up next year regardless of any increases.
It's been a long learning process for me: I'm finally understanding how CCs are handled; how the goals play into long-range planning (which I never did before) and how it's better to budget only dollars that I have in hand, rather than projecting a month or more into the future. I feel much more confident about how I'm handling my budget. I have a way to go, but at least I'm facing the right direction now.
Oh, that's a tough one! You know the price will be $84 US, but depending on the exchange rate, you won't know what you'll need to budget for. Just this year, the rate has fluctuated between 1.2 and 1.35, so you'd likely be paying between 63 and 70 pounds for the subscription, depending on what the rate is on the day your renewal happens.
That's an unfortunate uncertainty and we're sorry for the trouble it causes. Here's a solution, though: budget 70. If you budget on the high end, you'll have enough available. Alternatively, you could budget an average, and at most you'd have to add 1 or 2 pounds to the category when it's time to renew.
I'm looking forward to hearing what others have to say about it -- those who are also budgeting for the subscription with an exchange rate.
This really comes down to budgeting. The first thing you will discover with YNAB is the control you will have over money, a glorious feeling. That said, you should budget at the current exchange rate. You may also you'll discover that a category called "Stuff I forgot to budget" or "Slush-Fund", or whatever the UK equivalent is, where you stash a little extra from time to time to cover any additional expenses you may incur, like a slightly worse exchange rate.
I had the same issue with paying for something to help me save money, seemed a bit counter-intuitive, but 3 months into YNAB, I can honestly say it was the best money spent this year. Don't let this issue stop you from enjoying financial joy. I used to worry about money a lot, but now instead of worrying, I'm planning. Good Luck