YNAB Price Change 2021
You’ll see an in-app message today with more information on the upcoming pricing change that will impact your next renewal. We know—especially for a YNABer—that every dollar counts, and we don’t take price changes lightly.
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I've been thinking a lot about this whole situation.
I'm not a "legacy user", so I never had the $45 annual deal. I didn't jump to nYNAB when they launched it, even after the price incentive was offered. I greatly preferred YNAB4 because my info was MINE. It wasn't stored in "the cloud". And I didn't have to keep paying for it year after year. The only reason I purchased a sub to nYNAB was because YNAB4 stopped working on my computer after I had the local small-business computer shop upgrade my OS and hard drive. Recently, for whatever reason, YNAB4 started working again on my pc. I've tested some stuff with it and there are no glitches.
I won't go into a long diatribe about ethics and honesty and all that stuff that YNAB HQ apparently doesn't care about anyway. I'll just say this: the way they are treating their customer base leaves a sour taste in my mouth. The fact is, they know what they're doing--they just don't care. At the end of the day, I still have the power to deny them my money and move back to something earlier, or move on to something new. And, that is what I am doing. I could afford the $15 price increase to my subscription next year. But I just can't stomach supporting them further after what they have just done. I'll be deleting my account and getting the prorated subscription fee back before the end of the month.
Well, I just learned that if I delete my account now I can get my money back for the rest of Nov and Dec, since my sub renews early Jan. I'm definitely leaving nYNAB, just can't stomach paying them when they are so dishonest, just waiting for the dishonesty to hit me. I wish you all the best, including the YNAB employees, who I know are doing their best and can't control what management decides. I hope they give you all nice raises with all their new cash.
I am happy with Actual budget and, anyone else who was happy with YNAB4 but doesn't want to go back to YNAB4 should probably check it out. It's still a work in progress but he's done a great job with it only being his side gig. And for those of you who are using YNAB4 again, if you decide you want something newer, Actual has a YNAB4 budget import feature, although right now it has a bug so don't try it until he fixes it.
Happy Budgeting!!!! Thank you so much to all your folks on the forum who taught me to let go of my account/category matching OCD obsession and taught me so many other cool budgeting tips and tricks (month in the memo field for bills, I'm talking to you!). You all made my budgeting much easier. I'm not sure if all my old posts will be deleted when I delete my YNAB account, but thanks for all the fun. I really enjoyed the forums and wish you all the best.
i remember how awful this program was on initial introduction, and the year of waiting for the bugs to be worked out, and the promise of $45 forever for working through that horrible year with the company. 5 years later they want to double the cost! YNAB should be ashamed of themselves.
Are there that many people who have been with the company for over 5 years, worked through that horrible year+ and only paying $45? Is it really worth it to break trust with us and almost doubling the cost, with less than 1 year warning?
I was going to create a reply investigating my disgust with YNAB and whoever seems to be in charge of the company this week, but I just don't have the energy plus others have said most of what needs to be said.
I will add that as a legacy user a 100% price increase after in-writing promises of a lifetime $45 price is bad enough but the blatant lies and jedi mind trickery that we misremember is just scummy.
A part of me wonders what you they were trying to achieve, it doesn't make sense.
- Either the legacy userbase is so low then the reputational hit is inconsequential, then why do this at all? It can't be profit motivated. Or,
- The legacy userbase is a significant portion of the total userbase and there is an urgent need for a profit uplift and this was the only way to do it. Why? Is the initial 5 year investor cycle closing up and YNAB is not performing as advertised? Is there an IPO or sale just about to happen? Or just greed? Because it sure isn't the value proposition.
Congratulates YNAB, you have turned a YNAB evangelist into a very vocal critic. I will do everything I can to steer people away from this product for as long as I can.
I have nothing but contempt for this company now. You have lost my business but it seems that is what you wanted.
I cancelled and I pay full price. I initially signed up when nYNAB started, then went back to YNAB4. I have rolled my eyes at that decision a few times over the years because I lost that sweet $45 price.
I also believed that $45/$50 price was lifetime for the early adopters. Remember, no one really wanted to pay an annual fee when they could just buy and own YNAB4. Having the price locked in at that price was the impetus for many to rationalize buying nYNAB.
Rug pulling the early adopters was strike one.
The way this was handled by YNAB leadership was strike two and three.
I already paid my renewal a few months back. I'll use YNAB until my subscription ends. This has turned a Raving Fan into a disgusted one. Overnight.
I'm a long time user and I'm currently deciding if I'm continuing, going back to ynab 4 or trying something new. I never thought the $45 was forever. In the initial ynab launch post on the old ynab forum Jesse called it 10% discount. I know other communications certainly made it seem that it was $45 but I always assumed it could go up. That said, I know I can budget without spending the $90 and it was dropped on us in a way and timeframe that I don't appreciate. It will come down to whether I care about direct import enough to pay it. We manually enter but DI is nice to keep things up to date and speed up reconciliation.
jesse Posts: 1,651
The New YNAB
So i just got a very polite reply to my email saying that i was going and give me my pro rata refund and in essence it was - ok thank you for your loyalty, bye, good luck
So i surmise that a decision has been made and its the nYNAB way or the highway
tbh i think YNAB is a stepping stone, once you've mastered the mantra, its just an expensive spreadsheet, so now I'm saving even more money
Another legacy/founding/grandfathered user here that is deleting his account as soon as I can get the information out. Was it $45 for life? Yes. Did I think they'd eventually change the name to pretend it was a new product like what happened when YNAB moved to subscription? Yes. Did I think they would openly gaslight their supporters? No.
YNAB is losing an active marketing and customer support engine by the mistreatment of it's long term userbase. I can no longer recommend YNAB and will actively steer people away when personal finance topics come up, but that should be pretty rare for an accountant.
I remember when this was Jesse sharing his methodology and spreadsheet based tool he'd developed for his own family so that he could help to improve peoples lives while making a living for himself and covering some development to make the product easier to apply the methodology. He evenly actively argued against adding direct import initially, but eventually listened to the customers and saw the benefits when it worked. Unfortunately, no one is listening anymore. He and this company have completely lost their vision and it now appears to strictly be a profit maximization problem. I realize he's not the CEO, but it'd be hard to believe he was not involved in this decision.
My assumption is that someone calculated that they could lose up to half of the grandfathered customers and still break even when they doubled the price. However, that is a lot of product knowledge that is also leaving and you're also seeing non-grandfathered customers leaving because of the poor treatment.
I thought about just riding it out until my subscription expires or at least another couple of weeks to see if they attempt to correct this mistake. However, I realized I don't want to have dealings with this company anymore. Even if they did try to repair the damage, I can't trust them now. What is the value of a financial service company that you can't trust? To me it is not worth anything.
Hot Pink Guitar said:
My assumption is that someone calculated that they could lose up to half of the grandfathered customers and still break even when they doubled the price.
Agree, I think it's exactly this! They did a risk/reward analysis, and decided it was worth it to f-over their legacy users, continue to squeeze non-legacy users, and make $$.
Here's my silly attempt at estimating some $$ I posted to Reddit:
Let’s do some simple, most likely conservative math.
There are 134,138 people on u/ynab. Most likely less than the number of ynab subscribers. But let’s be conservative and say that 75% of the redditers are actually ynab subscribers.
Then let’s say 25% of those 100,596 ynab subscribers are legacy subscribers and the remainder are $84/yr subscribers.
The legacy price increase = $44.10/yr
The non-legacy price increase = $14.99/yr
The legacy ynab income increase = 100,596 * 0.25 * $44.10 = $1,109,070/yr
The non-legacy ynab income increase = 100,596 * 0.75 * $14.99 = $1,130,950/yr
Total ynab revenue increase = $2,240,020/yr
This is of course all hypothetical as I have no idea how many ynab subscribers they have. I’m guessing it’s conservative as many people don’t use Reddit.
Anyway, that’s a significant conservative revenue increase. If they have double or triple that number of subscribers. The $2M becomes $4M or $6M, and we’re back to our original question. What is all this money being used for? Or is it simply profit lining someone’s pocket?
That $14.99 per month really kills me. The only users who would pay that are users who can't afford the yearly price.
"Hey, I've got a great idea! For people who can't afford to pay us $98.99 for a year, let's charge them $179.88 throughout the course of the year! You know how car sales people sell you on the monthly price and not on the total they're paying for the car? The same thing will work with our software!"
I've had a few days, 8 cups of coffee, and a visit to Church to process the change and decided that, for us, it's worth paying the extra $44.10 (on top of the $45) to renew come December 2nd.
YNAB has made it possible for my wife to get on, and stay on, the same page with our budget which is/was a real feat and we aren't ready to change...yet.
Finally, the last minute announcement that the cost was doubling (in my case with less than a month notice) was a real jerk move on YNABs part and their complete disregard for their customers, both legacy and current, has left a real nasty taste in my mouth and would rate you amongst the likes of Comcast, TWC, and Charter for the move.
“Lots of people live paycheck-to-paycheck. They are often mired in debt and don’t have enough money to respond to anything that they didn’t expect. It’s a really stressful way to go through life. We want to remove that stress, and we can.” Todd Curtis, Chief Product Officer at You Need a Budget (YNAB) ( https://www.productboard.com/blog/age-of-product-excellence-ynab/ )