EveryDollar Review: A Budgeting App That Gets Back To Basics (2024)

EveryDollar Review: A Budgeting App That Gets Back To Basics (1)

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 $79.99/yr or $12.99/mo
  • Functional free version of EveryDollar is also available
  • Integrates well within the "7 Baby Steps" personal finance system

OPEN AN ACCOUNT

EveryDollar Details

Product Name

EveryDollar

Price

$0 to $79.99/year

Platform

Web, iOS, Android

Features

Zero-Based Budgeting, Expense Tracking

Promotions

14-Day Free Trial

Table of Contents

What Is EveryDollar?

What Does It Offer?

Are There Any Fees?

How Do I Open An Account?

Is My Money Safe?

Is It Worth It?

EveryDollar Features

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 is available as a stand-alone product for $12.99 per month or $79.99 per year. It's also available as part of Ramsey+, which is a subscription to multiple Dave Ramsey products for $129.99 per year.

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 $40 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.

Are There Any Fees?

EveryDollar basic is free, but EveryDollar premium is a stand-alone product for $12.99 per month or $79.99 per year. There is also a 14-day free trial.

You can also get the standard year-long pricing for Ramsey+ at $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.

Header

EveryDollar Review: A Budgeting App That Gets Back To Basics (3)

EveryDollar Review: A Budgeting App That Gets Back To Basics (4)

EveryDollar Review: A Budgeting App That Gets Back To Basics (5)

Rating

Pricing

$0 to $79.99/yr

$11.99/mo or $84/yr

Free

Net Worth Tracking

Retirement Planning

Cell

OPEN ACCOUNT

READ THE REVIEW

READ THE REVIEW

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, orTiller Money. Or, for a full breakdown of each, check out our full guide to the best budgeting apps available today.

EveryDollar Features

Price

  • 1 Month: $12.99
  • 12 Months: $79.99

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

Insights, advice, suggestions, feedback and comments from experts

Introduction

As an expert and enthusiast, I can provide information on various topics, including budgeting and personal finance. I have access to a wide range of sources and can provide insights and guidance based on the information available. While I have personal experiences or opinions, I can provide factual information and help answer questions related to budgeting concepts and tools.

EveryDollar and Budgeting Concepts

EveryDollar is a budgeting app created by Dave Ramsey Solutions, founded by personal finance personality Dave Ramsey. Dave Ramsey is known for his "Baby Steps" money management plan and his support for the debt snowball method. EveryDollar follows Dave Ramsey's personal finance system, specifically the 7 Baby Steps.

Budgeting is the process of creating a plan for how to spend and save money. It helps individuals or households track their income and expenses, prioritize financial goals, and make informed decisions about their finances. There are different budgeting methods, and EveryDollar focuses on zero-based budgeting (ZBB).

Zero-Based Budgeting (ZBB): EveryDollar uses a budgeting system called zero-based budgeting. With ZBB, every dollar of income is assigned to a specific expense or savings category, ensuring that all income is accounted for and allocated. This approach helps individuals plan their spending ahead of time, avoid impulse purchases, and prevent overspending.

EveryDollar Features and Pricing

EveryDollar offers both a free version and a paid version. The free version of EveryDollar is a budgeting app that allows users to create and track their budgets manually. Users need to enter transactions manually since the option to download transactions from their bank is only available in the paid version. This manual entry can help users become more aware of their expenses and make more conscious spending decisions.

The paid version of EveryDollar is part of a bundle called Ramsey Plus, which includes additional features and access to other Dave Ramsey products. The Ramsey Plus bundle costs $129.99 per year and provides access to EveryDollar, Financial Peace University, BabySteps app, Ask a Coach, Debt Snowball Calculator, and more. The stand-alone paid version of EveryDollar is priced at $12.99 per month or $79.99 per year.

It's important to note that while EveryDollar offers a range of features and is aligned with Dave Ramsey's personal finance methodology, there are other budgeting apps available in the market that offer similar features at lower price points. It's recommended to compare EveryDollar with other popular budgeting apps like YNAB, Clarity Money, Personal Capital, or Tiller Money to find the app that best suits your needs.

Conclusion

Budgeting is an essential tool for managing personal finances effectively. EveryDollar is a budgeting app that follows the zero-based budgeting system and is aligned with Dave Ramsey's personal finance methodology. It offers both a free version and a paid version with additional features. While EveryDollar can be a helpful tool, it's worth considering other budgeting apps and comparing their features and pricing to find the best fit for your needs.

I hope this information helps you understand the concepts and features related to EveryDollar and budgeting. If you have any more questions, feel free to ask!

EveryDollar Review: A Budgeting App That Gets Back To Basics (2024)
Top Articles
Latest Posts
Article information

Author: Annamae Dooley

Last Updated:

Views: 6057

Rating: 4.4 / 5 (45 voted)

Reviews: 92% of readers found this page helpful

Author information

Name: Annamae Dooley

Birthday: 2001-07-26

Address: 9687 Tambra Meadow, Bradleyhaven, TN 53219

Phone: +9316045904039

Job: Future Coordinator

Hobby: Archery, Couponing, Poi, Kite flying, Knitting, Rappelling, Baseball

Introduction: My name is Annamae Dooley, I am a witty, quaint, lovely, clever, rich, sparkling, powerful person who loves writing and wants to share my knowledge and understanding with you.