You Need A Budget (YNAB) is a US-based mobile application that helps you manage your budget on a daily basis. It was launched in 2015 by Jesse Mecham. Hardbacon is also a mobile application that aims to help its users become wealthier by managing their money better in three areas: planning, budgeting and investing. Hardbacon can be compared to YNAB in the area of budgeting, as you will learn in more detail from this comparative review.


YNAB: the advantages

With YNAB you can connect your bank account to the app, just as you can with Hardbacon. YNAB allows manual entry of transactions, a feature not available with Hardbacon.

With YNAB, you may add assets like your home or your car, as well as liabilities like your mortgage or your vehicle lease. In addition to your checking account, you can add a savings account or a credit account. Many expense categories, such as internet costs or groceries, are pre-programmed, as is the case with Hardbacon.

One advantage of YNAB is that you can search your expenses quickly. To perform your search, you just select an expense category (groceries for example) over a specific period. You can even select a specific account if you have linked multiple accounts to the app.

Another advantage of YNAB over Hardbacon is that you can connect the app to US and Canadian bank accounts. Hardbacon is currently limited to Canadian bank and investment accounts.


YNAB: The disadvantages

Most of YNAB's budget management features are available on Hardbacon. On the other hand, YANB’s investment functions are very limited, since the application's primary function is to help you manage your budget.

Thus, YNAB does not provide you an analysis of your portfolio’s weaknesses. You therefore cannot compare your portfolio’s performance to that of the market, for example. YNAB will also not provide you with any stock market data, including the financial ratios you need to invest.

Available on Android & iOS
Hardbacon - Your all-in-one budget app

Enjoy an all-in-one budget and investment tracking app in your pocket. Get personalized suggestions, investment ideas and exclusive offers. 

Download Now!

You will also not be able to access a portfolio diagnostic or daily investment reports. Hardbacon also provides you with updated return calculations on a daily basis in addition to thematic lists of securities and our portfolio templates.

Lastly, Hardbacon enables you to practice with a practice investment account, so that you can try your skills a bit before you start using a real account with a broker.


How much does YNAB and Hardbacon cost?

Hardbacon offers a free version, while YNAB does not. Subscribing to YNAB costs $84 USD (CA $ 112.37) per year, whereas all budgeting related features are 100% free with Hardbacon. However, if you want to try YNAB, there is 30-day  free trial period. Beyond this period you will need to subscribe.

Hardbacon’s premium version costs $99 CAD per year. Its features are designed first and foremost for users who have investments in the stock market or for those who want to start investing. In fact, Hardbacon Premium provides access to premium stock data, a performance report including a proprietary portfolio score, stock alerts, and more.


Is YNAB available in Canada?

The YNAB app is available on the App Store and Google Play in Canada. YNAB syncs with the main Canadian banking institutions, just as is the case for Hardbacon.


YNAB or Hardbacon?

YNAB is objectively a good app for managing your budget, just as Hardbacon is. YNAB, on the other hand, is not free, and even at $84 USD per year, the app does not allow you to track and analyze your stock market investments. YNAB's only advantage over Hardbacon is that the app is compatible with US accounts, a big plus for Canadians working in the United States or Americans working in Canada. For everyone else, Hardbacon is probably a better option.


If you liked this article, you’ll definitely like Hardbacon’s mobile app, which links to your banking and investing accounts, helps you plan your financial goalsbudget, and invest better. The basic version of the app is free, but you can do more with Hardbacon Premium. As a loyal reader of our blog, you can get 10% off any Hardbacon Premium subscription. To take advantage of this promotion, use promo code BLOG10 when subscribing through our website.

Available on Android & iOS
Hardbacon - Your all-in-one budget app

Enjoy an all-in-one budget and investment tracking app in your pocket. Get personalized suggestions, investment ideas and exclusive offers. 

Download Now!