Having used both You Need A Budget and Moneydance I wanted to compare these two programs. From the start I should mention that I do currently have Moneydance.
Do I use Moneydance?
YNAB is a very good program that has one clear purpose. It is created to make budgeting easier. As such it lacks features that I was looking for in a personal finance software program. Thus, essentially the program was not geared according to my needs.
As a result, I ended up purchasing Moneydance.
Reasons to Buy Moneydance over and against of You Need A Budget:
- Moneydance has a lot more features. Yes, you can set up a budget with it. In addition, you can also track your investments and monitor all your bank activity.
- You can easily access helpful graphs and reports that give a good overview of your entire financial situation.
- It has an easy to use budget feature. Thus, with this program you get the same benefit as YNAB, but you also get other benefits.
- It costs less.
Reasons to Buy Quicken over and above Moneydance:
If you are new to budgeting then YNAB might be the best product for you.
- There is no easier way to budget than with YNAB. Everything is so clear, crisp, and easy to monitor with YNAB.
- Good online support and customer interactions via their blog/chat rooms.
Ultimately the decision about which is better comes down to what you are looking for in a program. In the end I found that Moneydance was better suited for my needs, but that might not be the case in your situation. This is especially true for people setting up a budget.