Dave Ramsey’s financial freedom philosophies are built on the principles of smart budgeting, which is why he and his team created EveryDollar. And even if you’re not following Dave Ramsey’s plan specifically, you’re missing out if you’re not using an online tool to make and monitor your budget.
EveryDollar is an easy-to-use online budgeting tool that gives you insights into your spending and helps you stay on track with your financial goals. But is it worth your time compared to other budgeting tools? Read this EveryDollar review to find out!
EveryDollar Review: What Is It?
EveryDollar is an online budgeting tool created by Dave Ramsey’s team. Dave Ramsey is a financial advisor, author, and radio show host. You might know him from his principles of financial freedom and the Baby Steps method of getting out of debt.
EveryDollar was built around these principles, and because of this, EveryDollar has a few unique features. For example, for those using a cash envelope or another cash-based system of budgeting, tracking expenses can be time-consuming. So EveryDollar makes it super quick and easy to track your cash spending.
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Is there an EveryDollar App?
Yes! EveryDollar is available through both the Google Play and iPhone App Store. Take your budget on-the-go and never miss an opportunity to update your spending. Nearly all the features available on the EveryDollar site are also available on the app version.
However, we would recommend that you start with the web-based version, especially if you’re new to budgeting. Then switch to the app version once you’re comfortable with how to use the tool.
Is EveryDollar Free to Use?
There are two versions of the EveryDollar budgeting tool: the free version, and the Plus version, which costs $99 per year. The free version allows you to create unlimited budgets and update transactions within budgets.
The Plus version upgrades your experience by allowing you to link the app to your existing financial accounts. This makes it so you don’t have to manually input any transaction updates. Plus members also get priority status on any call-back or other types of support requests.
Is the EveryDollar Plus Membership Worth it?
Honestly, no. If you find that you like EveryDollar more than any other budgeting tool, staying on the free version and manually adding your transactions will help you save $99 per year. If you really want the ease of access of linking to your existing financial accounts, there are other budgeting tools out there that allow you to do that for free – like Mint.
Dave Ramsey may give away advice for free on his radio show, but his books, courses, and tools – including EveryDollar plus – all come at a price.
EveryDollar vs. Mint: Which is Better?
When it comes down to it, Mint is one of the most popular free budgeting tools out there. There’s a huge difference between EveryDollar and Mint though, so which one should you use? The answer is pretty straightforward: Ask yourself, how much do you spend in cash versus a debit or credit card?
If you’re someone who pays almost exclusively with debit or credit cards, you’ll want to stick with Mint purely because it links to your financial accounts for free. That same feature through EveryDollar costs $99 per year.
If you’re using a cash-based system, especially if you’re using cash envelopes, then EveryDollar is going to be much easier for you to use. When it comes to user-friendliness, I found that EveryDollar was a lot simpler to adjust and maintain than Mint. This surprised me because I’m a long-time Mint user.
If simplicity is one of your main priorities than you’ll be pleased with the experience you get from EveryDollar.
So is there an advantage to EveryDollar?
The bottom line is that nearly any online budgeting tool or app out there will give you the ability to make and adjust fully customized budgets quickly. They will also give you insights into your spending patterns that you can’t get using just a pen-and-paper budget.
EveryDollar is definitely included in that list. So really, the best app out there is the one that will work best for you. After all, it’s all about staying on track, not about which tool you use.
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Dave Ramsey Books
Dave Ramsey’s Complete Guide to Money
