Budgeting may not be the most exciting topic to talk about. But if you're in debt or are struggling to save money each month, building a proper budget can be a lifesaver.
There are many ways to create a budget. You can do it all by using envelopes, a spreadsheet, or one of the many available budgeting apps.
One budgeting app that many people find useful is EveryDollar. EveryDollar follows Dave Ramsey’s (a well-known personal finance guru) personal finance system, specifically the 7 Baby Steps. In this article, we’ll review what you get with EveryDollar and if it's worth the money (although a free version is available).
Quick Summary
- EveryDollar is part of a $129 per year all-access Ramsey+ plan
- Functional free version of EveryDollar is also available
- Integrates well within the "7 Baby Steps" personal finance system
|
EveryDollar Details |
|
|---|---|
|
Product Name |
EveryDollar |
|
Price |
$0 to $129.99/year |
|
Platform |
Web, iOS, Android |
|
Features |
Zero-Based Budgeting, Expense Tracking |
|
Promotions |
14-Day Free Trial |
What Is EveryDollar?
EveryDollar is a budgeting app created by Dave Ramsey Solutions. The company was founded, and is still run today, by personal finance personality Dave Ramsey.
Dave Ramsey also hosts a radio show and podcast called The Dave Ramsey Show and has authored several best-selling books. He's perhaps best for his "Baby Steps" money management plan and for strongly supporting the debt snowball method.
What Does It Offer?
EveryDollar is a free budgeting app. There is also a paid version that is part of a bundle called Ramsey Plus. The Plus version provides these extras:
- Connect EveryDollar to your bank
- Monitor your account balances
- See transactions auto-populate in EveryDollar
EveryDollar focuses solely on budgeting. It doesn’t include stock monitoring or the ability to pay bills. With the free version, you’ll have to enter in transactions manually since the option to download transactions from your bank is only available in the paid version.
However, entering transactions manually has a psychological advantage for some people. You become extremely aware of your expenses since you can't just click a confirmation and be done with it, as is the case with automated/downloaded transactions. Manual transactions allow you to better feel the burden of your spending.
Zero-Based Budgeting
EveryDollar uses a budgeting system called zero-based budgeting (ZBB). This is not a system created by Dave Ramsey but is a popular budgeting system. With ZBB, you "give every dollar a job."
So before you spend any money, the money you have in hand is assigned to a particular expense or savings account. This forces you to plan out your spending ahead of time and avoid impulse purchases and avoid spending money you don’t have. While all budgeting systems are disciplined by definition, ZBB is a bit ahead of the curve in comparison.
Whether you’ll like ZBB is another question. Many people swear by the system. Either way, to use EveryDollar, you’ll have to be on board with ZBB. It’s worth doing further reading on it so you understand how it works before diving into the app. While the app is easy to use, some aspects of zero-based budgeting can be confusing for beginners.
Access To Other Ramsey Plus Products
EveryDollar used to be a stand-alone product available from Dave Ramsey for $99 per year. That is no longer an option. Instead, you can choose the free version of EveryDollar or upgrade to Ramsey+ for $129.99.
Ramsey+ is an all-access membership that, in addition to EveryDollar, includes:
- Financial Peace University
- BabySteps app
- Ask a Coach
- Debt Snowball Calculator
- And more
From the above list, the following are apps: FinancialPeace, EveryDollar, and BabySteps. This lets you view your progress and learn on the go. Compared to the previous pricing, it’s a good deal. For only $30 more dollars, you get everything in Ramsey+.
The Plus bundle gets to the core of who EveryDollar is really for. If you follow Dave Ramsey and believe in his Baby Steps, then you’re the target audience for Every Dollar. That’s because EveryDollar not only follows ZBB but also Dave Ramsey’s personal finance methodology.
|
Header
|
|
 |
 |
|---|---|---|---|
|
Rating |
|||
|
Pricing |
$0 to $129.99/yr |
$11.99/mo or $84/yr |
Free |
|
Net Worth Tracking |
|||
|
Retirement Planning |
|||
|
Cell
|
Are There Any Fees?
Yes, the standard year-long pricing for Ramsey+ is $129.99. It also offers 3-month ($59.99) and 6-month plans ($99.99). However, you can still use the free version of EveryDollar. The free version is still a very competent app.
How Do I Open An Account?
You can visit the EveryDollar website to open an account. It only takes a few minutes to get up and running. There is also a 14-day free trial during which you can cancel at any time hassle-free.
Is My Money Safe?
Yes, there is no money is on deposit. However, you might find the purchasing options a little odd. The credit card payment option is purposely hard to find because Dave Ramsey doesn’t believe in using credit cards.
You'll be able to quickly find the option to use a debit card. But if you really want to use your credit card, you can do that too with a little digging.
Is It Worth It?
If you're having difficulty saving money or paying down debt, EveryDollar could certainly help. By virtue of being included in the Ramsey+ bundle, EveryDollar subscribers get access to a range of products and services that no other budgeting app can really match.
But if you're just looking for a budgeting tool, it's important to point out that several apps are able to offer the same features as EveryDollar at lower price points. You'll also need to look elsewhere if you want a budgeting app that offers investment tracking too.
To make sure your finding the right app for your needs, compare EveryDollar's options with popular competitors like YNAB, Clarity Money, Personal Capital, Tiller Money, or Emma. Or, for a full breakdown of each, check out our full guide to the best budgeting apps available today.
EveryDollar Features
|
Price |
|
|
APY |
Up to 1.70% |
|
Budgeting |
Yes |
|
Income Tracking |
Yes |
|
Expense Tracking |
Yes |
|
Bank Integration |
Yes |
|
Investment Tracking |
No |
|
Credit Score Monitoring |
No |
|
Bill Pay |
No |
|
Tax Preparation |
No |
|
Import Bank Data Files |
No |
|
Customer Support Options |
Email only |
|
Mobile App Availability |
iOS and Android |
|
Promotions |
14-day free trial |
The post EveryDollar Review: A Budgeting App That Gets Back To Basics appeared first on The College Investor.
from The College Investor
Budgeting may not be the most exciting topic to talk about. But if you're in debt or are struggling to save money each month, building a proper budget can be a lifesaver.
There are many ways to create a budget. You can do it all by using envelopes, a spreadsheet, or one of the many available budgeting apps.
One budgeting app that many people find useful is EveryDollar. EveryDollar follows Dave Ramsey’s (a well-known personal finance guru) personal finance system, specifically the 7 Baby Steps. In this article, we’ll review what you get with EveryDollar and if it's worth the money (although a free version is available).
Quick Summary
- EveryDollar is part of a $129 per year all-access Ramsey+ plan
- Functional free version of EveryDollar is also available
- Integrates well within the "7 Baby Steps" personal finance system
|
EveryDollar Details |
|
|---|---|
|
Product Name |
EveryDollar |
|
Price |
$0 to $129.99/year |
|
Platform |
Web, iOS, Android |
|
Features |
Zero-Based Budgeting, Expense Tracking |
|
Promotions |
14-Day Free Trial |
What Is EveryDollar?
EveryDollar is a budgeting app created by Dave Ramsey Solutions. The company was founded, and is still run today, by personal finance personality Dave Ramsey.
Dave Ramsey also hosts a radio show and podcast called The Dave Ramsey Show and has authored several best-selling books. He's perhaps best for his "Baby Steps" money management plan and for strongly supporting the debt snowball method.
What Does It Offer?
EveryDollar is a free budgeting app. There is also a paid version that is part of a bundle called Ramsey Plus. The Plus version provides these extras:
- Connect EveryDollar to your bank
- Monitor your account balances
- See transactions auto-populate in EveryDollar
EveryDollar focuses solely on budgeting. It doesn’t include stock monitoring or the ability to pay bills. With the free version, you’ll have to enter in transactions manually since the option to download transactions from your bank is only available in the paid version.
However, entering transactions manually has a psychological advantage for some people. You become extremely aware of your expenses since you can't just click a confirmation and be done with it, as is the case with automated/downloaded transactions. Manual transactions allow you to better feel the burden of your spending.
Zero-Based Budgeting
EveryDollar uses a budgeting system called zero-based budgeting (ZBB). This is not a system created by Dave Ramsey but is a popular budgeting system. With ZBB, you "give every dollar a job."
So before you spend any money, the money you have in hand is assigned to a particular expense or savings account. This forces you to plan out your spending ahead of time and avoid impulse purchases and avoid spending money you don’t have. While all budgeting systems are disciplined by definition, ZBB is a bit ahead of the curve in comparison.
Whether you’ll like ZBB is another question. Many people swear by the system. Either way, to use EveryDollar, you’ll have to be on board with ZBB. It’s worth doing further reading on it so you understand how it works before diving into the app. While the app is easy to use, some aspects of zero-based budgeting can be confusing for beginners.
Access To Other Ramsey Plus Products
EveryDollar used to be a stand-alone product available from Dave Ramsey for $99 per year. That is no longer an option. Instead, you can choose the free version of EveryDollar or upgrade to Ramsey+ for $129.99.
Ramsey+ is an all-access membership that, in addition to EveryDollar, includes:
- Financial Peace University
- BabySteps app
- Ask a Coach
- Debt Snowball Calculator
- And more
From the above list, the following are apps: FinancialPeace, EveryDollar, and BabySteps. This lets you view your progress and learn on the go. Compared to the previous pricing, it’s a good deal. For only $30 more dollars, you get everything in Ramsey+.
The Plus bundle gets to the core of who EveryDollar is really for. If you follow Dave Ramsey and believe in his Baby Steps, then you’re the target audience for Every Dollar. That’s because EveryDollar not only follows ZBB but also Dave Ramsey’s personal finance methodology.
|
Header
|
|
|
|
|---|---|---|---|
|
Rating |
|||
|
Pricing |
$0 to $129.99/yr |
$11.99/mo or $84/yr |
Free |
|
Net Worth Tracking |
|||
|
Retirement Planning |
|||
|
Cell
|
Are There Any Fees?
Yes, the standard year-long pricing for Ramsey+ is $129.99. It also offers 3-month ($59.99) and 6-month plans ($99.99). However, you can still use the free version of EveryDollar. The free version is still a very competent app.
How Do I Open An Account?
You can visit the EveryDollar website to open an account. It only takes a few minutes to get up and running. There is also a 14-day free trial during which you can cancel at any time hassle-free.
Is My Money Safe?
Yes, there is no money is on deposit. However, you might find the purchasing options a little odd. The credit card payment option is purposely hard to find because Dave Ramsey doesn’t believe in using credit cards.
You'll be able to quickly find the option to use a debit card. But if you really want to use your credit card, you can do that too with a little digging.
Is It Worth It?
If you're having difficulty saving money or paying down debt, EveryDollar could certainly help. By virtue of being included in the Ramsey+ bundle, EveryDollar subscribers get access to a range of products and services that no other budgeting app can really match.
But if you're just looking for a budgeting tool, it's important to point out that several apps are able to offer the same features as EveryDollar at lower price points. You'll also need to look elsewhere if you want a budgeting app that offers investment tracking too.
To make sure your finding the right app for your needs, compare EveryDollar's options with popular competitors like YNAB, Clarity Money, Personal Capital, Tiller Money, or Emma. Or, for a full breakdown of each, check out our full guide to the best budgeting apps available today.
EveryDollar Features
|
Price |
|
|
APY |
Up to 1.70% |
|
Budgeting |
Yes |
|
Income Tracking |
Yes |
|
Expense Tracking |
Yes |
|
Bank Integration |
Yes |
|
Investment Tracking |
No |
|
Credit Score Monitoring |
No |
|
Bill Pay |
No |
|
Tax Preparation |
No |
|
Import Bank Data Files |
No |
|
Customer Support Options |
Email only |
|
Mobile App Availability |
iOS and Android |
|
Promotions |
14-day free trial |
The post EveryDollar Review: A Budgeting App That Gets Back To Basics appeared first on The College Investor.
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