Our Verdict
When you want a budgeting app that suits your needs, Goodbudget and EveryDollar stand out in helping you track your expenses and manage your finances effectively.
With Goodbudget, you use the envelope method to manage your money. You allocate your funds into different envelopes for categories like groceries, rent, and entertainment. This app lets you sync with multiple devices, so if you and your partner share expenses, you both stay on the same page. Goodbudget also provides detailed reports, helping you track where your money goes.
EveryDollar, on the other hand, follows a zero-based budgeting approach. You assign every dollar a purpose, ensuring you don’t spend more than you earn. EveryDollar offers a user-friendly interface that makes budgeting straightforward. You can link your bank account, which means your transactions automatically sync, saving you time.
Goodbudget shines if you prefer a manual approach to managing your money and value detailed reports. If you like sharing your budget with someone else, this app makes it easy. EveryDollar is ideal if you want a seamless experience with automatic transaction syncing and a clear, simple interface.
Choosing between Goodbudget and EveryDollar depends on your preferences. If you enjoy a hands-on approach and detailed tracking, Goodbudget suits you. If you prefer automation and simplicity, EveryDollar might be your go-to. Both apps offer unique strengths, ensuring you find the perfect tool to manage your finances effectively.
Why Choose Goodbudget
Who Goodbudget Is Best For
You benefit greatly from Goodbudget if you seek a straightforward and effective budgeting tool. You appreciate the ease of envelope budgeting to manage your finances. You want a way to track your expenses and income effortlessly.
You value the ability to sync your budget across multiple devices, allowing you and your partner to stay on the same page. You enjoy detailed reports and charts that help you visualize your financial health. You prefer an app that doesn’t link directly to your bank accounts, giving you complete control over your financial information. You desire a budgeting solution that adapts to your unique financial situation.
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Who Goodbudget Isn't For
When you use Goodbudget, you might find it lacks automatic bank syncing, which means you manually input each transaction. You can see how this becomes time-consuming. You also notice the limited number of envelopes in the free version, restricting your budgeting categories.
If you rely on intricate financial planning, Goodbudget might fall short with its basic features. You expect a seamless experience, but Goodbudget’s manual data entry often leads to errors. If you need real-time updates and comprehensive financial tools, Goodbudget might not meet your expectations, causing frustration in your budgeting efforts.
Why Choose EveryDollar
Who EveryDollar Is Best For
You know you’re ready for the EveryDollar budgeting app if you crave financial clarity. You feel the need to streamline your expenses and set realistic savings goals. You appreciate simplicity, valuing a user-friendly interface that helps you stay organized. You benefit from a customizable budget, tailored to your unique needs.
You understand the importance of tracking your spending daily, ensuring you stay on course. You prefer syncing your bank accounts for a seamless experience. You like detailed spending reports, giving you insights into your financial habits. You desire a tool that supports you in achieving debt-free living. You value having support at your fingertips, with easy access to helpful resources and advice.
Who EveryDollar Is Not Right For
EveryDollar budgeting app might not be suitable for you if you prefer a free budgeting tool. You might also find it challenging if you want a budgeting app that automatically syncs with your bank accounts, as EveryDollar requires manual entry.
Additionally, if you are looking for a budgeting app with advanced features like investment tracking or bill pay, EveryDollar may not meet your needs. Lastly, if you prefer a budgeting app with a more modern or customizable interface, you might find EveryDollar’s design to be lacking. Consider these factors when deciding if EveryDollar is the right budgeting app for you.
Main Differences
| Main Differences | Goodbudget | EveryDollar |
|---|---|---|
|
Launching Year |
Launched in 2009 |
Launched in 2015 |
|
Pricing |
Offers you a free plan and a paid plan at $70 per year |
Provides a free plan and a premium version at $79.99 annually |
|
Platform Availability |
Available on both Android and iOS devices and supports web access |
Available on Android and iOS but does not offer a web platform |
|
Budgeting Method |
Uses the envelope budgeting method, allowing you to allocate funds |
Follows zero-based budgeting, where every dollar is assigned a job |
|
Bank Synchronization |
Lacks bank synchronization, requiring manual input of transactions |
Offers bank synchronization in its premium version, automatically importing transactions |
|
Manual Transaction Entry |
Requires manual transaction entry for accurate budget tracking |
Allows manual entries, ensuring precise expense management |
|
Debt Payoff Tracking |
Lacks dedicated debt payoff tracking, focusing on envelope budgeting |
Offers you specific features for tracking debt payoff |
|
Custom Categories |
Allows you to create custom categories for envelope-based budgeting |
Supports custom categories but emphasizes a zero-based budgeting approach |
|
Customer Support |
Offers you customer support via email only, with responses within 1-2 business days |
Provides email and phone support, ensuring faster issue resolution |
|
Bill Tracking |
Offers you bill tracking by allowing users to create separate envelopes for each expense category |
Offers you bill tracking but requires the paid version for automatic transaction syncing |
|
Payroll Integration |
Lacks payroll integration, requiring manual entry |
Offers you seamless payroll integration, enabling automatic tracking and categorization |
|
Currency Support |
Supports multiple currencies for global users |
Limited to the currency of the country it’s used in |
|
Security |
Emphasizes privacy and security, offering bank-level encryption for data safety |
Prioritizes security, ensuring data is encrypted and protected |
|
Ad-Free |
Goodbudget is ad-free, offering a clean interface for budgeting |
Displays ads in its free version, potentially distracting users |
|
Synchronization Between Devices |
Offers you manual synchronization between devices, requiring user input for update |
Provides you with automatic synchronization updating across devices seamlessly |
|
Budget Sharing |
Allows sharing budgets with family or friends for collaborative budgeting |
Does not offer budget sharing, limiting its collaborative features |
|
Investment Tracking |
Offers basic investment tracking providing a more comprehensive financial overview |
Lacks this feature |
Standout Features
Goodbudget
Instead of EveryDollar consider Goodbudget due to its:
- User-friendly interface, making it easy for users to navigate
- Protective encryption for users’ financial data
- Collaborative budget access and management making it ideal for families or partners
- Helpful reports and insights into spending patterns
- Adaptable to various budgeting methods
- Responsive customer support
- Educational resources and tips on budgeting
- Wide range of customizable expense categories
- Free version of value driven features
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EveryDollar
Choose EveryDollar over Goodbudget due to its:
- Comprehensive overview of your finances and spending pattern
- Customizable budgets to fit unique financial situation and goals
- Seamless Synchronisation with your bank accounts
- Goal-oriented
- Accessible across devices, allowing you to manage your budget
- Collaborative with a spouse or partner, making it easier to manage finances together
- Supportive customer service
Budgeting Method
When you look at Goodbudget and EveryDollar, you’ll notice both use a similar budgeting method called zero-based budgeting. This means every dollar you earn is assigned a job, whether it’s for bills, savings, or spending.
Goodbudget, however, takes a slightly different approach. It uses the envelope system, where you allocate money into different virtual envelopes for different spending categories. This can be great for visualizing your budget and controlling spending in specific areas.
EveryDollar, on the other hand, focuses on a more streamlined approach, dividing your budget into essential categories like groceries, transportation, and housing.
One key difference is that Goodbudget offers a free version with limited envelopes, while EveryDollar requires a paid subscription for full access. Additionally, EveryDollar provides a more user-friendly interface, making it easier to input and track your expenses.
In essence, Goodbudget is ideal for those who prefer a visual and hands-on approach to budgeting, while EveryDollar is perfect for users looking for a simple, straightforward budgeting tool with a clean interface. Both can help you take control of your finances, but the choice ultimately depends on your budgeting style and needs.
Reporting Features
When it comes to reporting features, both Goodbudget and EveryDollar offer useful tools to help you track your finances.
Goodbudget allows you to generate detailed reports that show your spending patterns and budgeting trends. You can easily see where your money is going and make adjustments to your budget accordingly.
EveryDollar, on the other hand, provides a more simplified approach to reporting. It offers basic reports that show your income, expenses, and savings goals. While these reports may not be as detailed as Goodbudget’s, these reports still provide a clear overview of your financial situation.
In terms of flexibility, Goodbudget allows you to customize your reports to suit your needs. You can choose which categories to include in your reports and how you want the data to be displayed. EveryDollar, on the other hand, has a more fixed reporting structure.
Overall, if you’re looking for detailed and customizable reporting features, Goodbudget may be the better option for you. However, if you prefer a simpler approach to budgeting and reporting, EveryDollar could be the right choice.
Pros and Cons of Goodbudget
- Pros
Consider Goodbudget over EveryDollar because it:
- Offers you envelope budgeting method
- Syncs across multiple devices
- Allows you have easy expense tracking
- Provides you with detailed reports and insights
- Supports you multiple currencies
- Offers you a free version with basic features
- Provides you with timely reminders for bills and payments
- Provides a user-friendly interface
- Allows for easy customization of budget categories
- Cons
Consider EveryDollar and ignore Goodbudget as you may:
- Have limited features in the free version
- See no option for automatic bank syncing
- Experience occasional syncing issues reported
- Encounter indirect linking to bank accounts
- Face unsuitability with complex financial situations
- Have Ads distracting in the free version
- Face limitation to 10 regular envelopes in the free version
- Lack investment tracking
Pros and Cons of EveryDollar
- Pros
Consider EveryDollar over Goodbudget because it:
- Allows you to easily track your expenses and see where your money is going
- Create a detailed budget with specific categories for your expenses
- Helps you set financial goals and track your progress
- Offers a wide range of expense categories to choose from
- Allows you gain access on both mobile devices and desktop computers
- Allows you customize your budget based on your needs
- Provides you with insights into your spending habits and areas for improvement
- Cons
Don’t overlook EveryDollar in favor of Goodbudget as you may:
- Have some advanced features only available with the paid version
- Need to manually enter some transactions
- Have limited investment tracking
- Encounter limited options for generating detailed report
- Possess limited debt payoff tools
- Experience limited customization
- Face syncing issues with your accounts and transactions
Customer Reviews
Goodbudget and EveryDollar are two popular budgeting apps, each with its own set of features and benefits. When comparing customer reviews of these apps, several key points emerge.
Goodbudget, praised for its simplicity and ease of use, is favored by those seeking a straightforward budgeting tool. Users appreciate its envelope budgeting system, which helps them track and allocate funds effectively. Additionally, Goodbudget’s free version offers sufficient features for many users, making it an attractive option for those on a tight budget.
On the other hand, EveryDollar receives praise for its integration with Dave Ramsey’s financial principles, which appeal to users looking for a more comprehensive approach to budgeting. Users appreciate its ability to sync with these user’s bank accounts making tracking expenses more convenient. However, some users have reported issues with the app’s stability and occasional syncing errors.
In terms of customer service, Goodbudget users generally report positive experiences, noting the responsiveness of the support team. EveryDollar users, while generally satisfied with the app’s functionality, have expressed frustration with the lack of timely updates and improvements.
Competitors
When it comes to managing your finances, having the right budgeting app can make a world of difference which make it crucial to explore the competitors of Goodbudget and EveryDollar budgeting app.
Firstly, consider YNAB which is known for its proactive approach to budgeting. It focuses on giving every dollar a job and encourages users to plan ahead for expenses. YNAB also offers educational resources to help users understand and improve financial habits.
Another great option is PocketGuard meant for those who want a simple budgeting solution. It tracks your income, bills, and spending, and gives you a snapshot of your financial health. PocketGuard also offers insights into your spending patterns and helps you find ways to save money.
If you want a unique approach to budgeting consider Pockets Smith which allows you to forecast your finances. It lets you see how your financial decisions today will impact your future. PocketSmith also offers budgeting and tracking tools to help you achieve your financial goals.
Lastly, checkout Mvelopes, which is based on the envelope budgeting method, where you allocate a portion of your income to different categories. It helps you stay on track with your budget by showing you how much you have left in each envelope. Mvelopes also offers bill pay and debt reduction tools.
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Pro Tips
To make the right choice between Goodbudget and EveryDollar budgeting app, use these pro tips:
- Evaluate the ease of use and navigation of both apps
- Understand the budgeting approach each app uses
- Check if the app is available on your preferred device
- Compare the pricing plans of both apps
- Consider the features offered by each app
- Look for reviews or testimonials regarding the quality of customer support provided by each app
- Ensure that your financial data will be encrypted and protected from unauthorized access
- Check if the app integrates with your bank accounts
- See if there is an active user community
- Take advantage of any free trials to test out the apps before committing to a subscription
Recap
When you use Goodbudget, you manage your money with the envelope method, giving you control over your spending. You track expenses and plan savings seamlessly. With EveryDollar, you create a monthly budget that helps you stay on top of your finances, guiding you to financial peace.
You appreciate its user-friendly interface and detailed spending categories. While Goodbudget offers robust features for envelope budgeting, you find EveryDollar ideal for straightforward monthly planning. Both apps provide excellent tools, but your choice depends on your preferred budgeting style.
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