musings about whether or not to go ahead with nYNAB
I was browsing the budgeting part of the forum for references to linking non-US banks to YNAB and came across a post that took me to https://www.reddit.com/r/ynab/comments/7muxdr/my_name_is_jesse_mecham_im_the_founder_and_ceo_of/ The particular post by JJHall_ID yesterday (30 Dec 2017) and quoted here, rang an alarm bell or two.
Late to the party, but I do have some comments I'll sprinkle in, and hopefully you'll consider them as feedback for your meetings.
The problem with your market position evaluation is you're not taking into account who you're serving. The people that are going to be most interested in trying your product are the ones that need it the most, and by extension those are the customers that are going to have the hardest time coming up with $80/year. Also, consider your competition. Quicken is probably the most well-known, and the Deluxe version is on sale for $30/year right now. That's probably the closest version feature-wise as YNAB. The Home, Business, and Rental Property version, the most advanced version, is $60/year on sale.
Your other competitors are Mint and Everydollar. Both of those are free at the basic level. Everydollar is a nearly identical product, and is $99/year if you add in bank account syncing.
I do need to point out that I am happy with the new version, and I do use bank sync as part of my reconciliation process, so if you were to split the product into two tiers I would still maintain the full subscription. With that said, I am hesitant to point new people to YNAB now, as it's no longer a $50/year fee broken over 12 months, it's an $80 fee needed up front. When I'm helping people learn to budget because they just overdrafted their bank accounts and are asking for help, $80 just isn't feasible for most of them.
I am trying nYNAB and have made no bones about the rolling subscription element of the new version, but nowhere in the forums [that I've found anyhow] and the email support have I been told that it's £62.50-ish GBP (exchange rate as of time of posting) UP FRONT. Is this correct? Jesse hasn't picked this up anyhow. I certainly can't afford it up front. Budgeting forward I may/should be able to, but this initial payment would need me to rob my savings. I've already needed to take £140 out for a new monitor and any more would be a tight squeeze.
You'd be correct, the subscription price is to be paid in full. As someone with the older pricing, I do agree that it is a bit harder to get someone new to YNAB to justify the cost - do be wary of the Reddit threads though as they can be full of unnecessary negativity. I can personally say that the program is worth the price if used correctly and personally $80USD would be the most I'd pay.
As per the website:
"...we offer a No-Risk, 100% Money-Back Guarantee. At any point, if you don’t feel like you have more control of your money with YNAB, we’ll give you a full refund. No questions asked."
So it could be worth a try 🙂
Hi there! No toes run over -- as budgeters ourselves, we totally understand how tough it can be to let go of our hard-earned dollars (or pounds, as the case may be)!
We also know how much money YNAB can save you -- and time and heartache! -- and we're confident you'll be happy you took the leap. That said, if you need a bit more time to save up, send us a quick email at [email protected] and we'll see what we can do. 😉