There are many types of personal budgets and budgeting apps that can help you get a better grasp on your finances, but if you don’t find one that really fits your needs, you’re not likely to stick with it.
EveryDollar could be the app for you, especially if you follow Dave Ramsey’s teachings and enjoy learning about smart financial strategies for saving, investing, and managing money – regardless of how much you earn. Discover how EveryDollar works, who it’s best for, and how it compares to other popular budgeting apps.
EveryDollar Overview
EveryDollar was launched in 2015 by financial guru Dave Ramsey’s personal finance company, Ramsey Solutions. For decades, Ramsey has shared with his followers the importance of creating a budget and living within that budget to build financial wealth, and he’s even released software to help people do just that. EveryDollar is the more modern version of that software, giving people a more convenient way to stay on top of their finances and budget without needing to be tied to their computers and spreadsheets.
Pros
- User-friendly interface
- Available financial coaching
- Split transactions into different categories
- Sync between multiple users or devices
Cons
- No bank connections for free accounts
- Pricey monthly cost
- Some users note an issue with duplicate transactions appearing
Highlights
Type of Personal Budget: Zero-based budgeting
Best For: Financial coaching from experts
Cost: $17.99/month or $79.99/year
Free Trial: Yes
Links to Accounts: Yes; Bank accounts
Apple App Store Rating: 4.7/5
Google Play Rating: 3.5/5
EveryDollar uses Ramsey’s most touted budgeting tactic, zero-based budgeting, which requires users to make a plan for every incoming dollar they have. Since its founding, EveryDollar has grown to include more features than just budget creation, such as bill due date reminders, custom budget reports, live Q&A sessions with financial experts, and split transactions, making it a full-fledged financial app.
Today, EveryDollar has helped more than 10 million users track their finances and build workable budgets.
Why We Like EveryDollar
The EveryDollar app helps you understand the motivation behind your spending. While many budgeting apps are excellent at what they do – help you save, track spending, create savings goals, and monitor your finances – they don’t always target financial habits.
EveryDollar is part of the Dave Ramsey family, and you can expect many of Ramsey’s teachings to carry over into the app. This is good news for those who want to learn more about their current financial habits and ways they can transition into healthier spending habits for a more sound financial future. Whether you’re entirely new to budgeting or have a lot of experience, EveryDollar has something to offer.
Who Is EveryDollar Best For?
EveryDollar is best for anyone who wants to learn how to spend less money by making a plan for their income using the zero-based budgeting method. EveryDollar helps you organize your income and expenses in a way that makes sense for you while guiding you in creating spending categories, savings goals, and plans for future-proofing your finances.
EveryDollar is also one of the best budgeting apps for people who want to improve their financial literacy. Whether you’d like to learn more about smart investing, how to budget for retirement, or how to stop spending emotionally, you can get advice from real financial experts with the Premium plan.
Pricing & Plans
| Plan | Cost per Month | Annual Cost | Features Included |
|---|---|---|---|
| Free | $0 | $0 | Monthly budget creation, Savings funds, Basic features |
| Premium | $17.99 | $79.99 | All Free features, Custom reports, Financial goal setting and tracking, Bank account connections, Transaction syncing, Paycheck planning, Bill due date reminders, Group financial coaching calls |
| Trial Period | – | – | 14-day free trial available for Premium features |
Sign up for EveryDollar for free to try the app before buying. The free version is limited, though, only giving you access to monthly budget creation, savings funds, and a few other basic features.
Upgrading to Premium will give you all the features of EveryDollar, including custom reports, financial goal setting and tracking, bank account connections and transaction syncing, paycheck planning, bill due date reminders, and group financial coaching calls. Premium costs $17.99 per month, but you can save more than $130 a year by paying for an annual plan for just $79.99.
How EveryDollar Works
EveryDollar is relatively easy to use from the start, as it’s designed for any level of budgeter to understand. Still, it could be helpful to know how it all works if you’re comparing it with other budgeting apps to decide whether it’s the one you want to download.
Getting Started with EveryDollar
After downloading EveryDollar and signing up for an account, you can connect your financial accounts immediately. EveryDollar only makes this available with a Premium account, so you must subscribe if you want to make connections. The app works with dozens of popular banks, including Bank of America, Chime, Citibank, Chase, Wells Fargo, and Huntington Bank.
Once your accounts are connected, EveryDollar begins pulling your bank transactions into your EveryDollar account so you can track spending and income. However, if you ever want to stop automatically syncing your bank transactions, you can turn off the feature in the app’s settings. You can also delete and add bank accounts at any time by visiting your “Accounts” page in the app.
Occasionally, you may experience disconnections from your bank, which are often the result of temporary outages. Check the bank connection status page to view your bank’s uptime and see if there are any known issues or connection errors with your bank.
Creating a Budget Using EveryDollar
Now, you can begin creating your budget with EveryDollar. The app lets you browse transactions and delete any that you don’t want included in your budget, if necessary.
EveryDollar shows you a “Planned” amount, which is the money you expect to receive in income for the month. Try to make this as close as possible to your typical income, as it’s the amount you’ll use to plan your budget. Be sure to include any non-work income, too, like a tax refund or cash from online sales.
Then, you can create categories that various transactions may fall into, like Donations, Food, or Entertainment. Move money from your Planned section to each category to create the budget you’ll follow for the month. When new transactions within those categories show up, they’ll automatically deduct Planned money from those categories to help you track your spending.
Financial Coaching and Resources with EveryDollar
EveryDollar offers financial resources and coaching to Premium subscribers. Articles and guides to help you invest and plan your income and expenses are available within the app for you to read anytime.
To use your Premium group coaching feature, you’ll need to sign into the website using your EveryDollar credentials after using the app to find the group you’d like to join. Then, view the schedule for that group and choose a day and time that works best for you. Group calls happen during weekdays from 8 am to 5 pm CT.
How To Sign Up for EveryDollar
Create an account on EveryDollar’s website to sign up for the free version or jump straight into a paid Premium account. You can also download the app on Google Play or the App Store to sign up using your mobile device.
How To Contact EveryDollar Support
The primary way to get support for your EveryDollar account is to use the online help center, where you’ll find instructions and guides for common issues or questions about the app. This section can help you if you have a billing question, need help setting up your budget, want to learn how to connect your bank accounts, and more.
If your question isn’t answered in the help center, you can submit a request for additional help using the link at the top of the help center page. This pops up a chatbot where you can ask your question and have someone from the team reach out when they’re available.
How To Cancel EveryDollar
If you signed up for EveryDollar directly through the website or using a credit card on the app, you can visit your account settings on the website or app to find the Manage Subscriptions section. Then, turn the auto-renew feature off. You’ll have access to EveryDollar until your subscription renewal date, at which point your account will close unless you renew it manually.
You also have the option of signing up through Google Play or the App Store. If you subscribed this way, you’ll need to find your subscription in your app store account to cancel it.
How Does EveryDollar Compare?
Some budgeting apps don’t offer a free version, but EveryDollar does. Although it’s limited, it does let you do some basic things with the app to see if you like how it works. You’ll also get lots of financial resources and the opportunity to enter group calls with financial experts as a Premium EveryDollar user, something other apps don’t offer.
| App Name | Cost | Free Trial | Type of Personal Budget | App Store Rating |
|---|---|---|---|---|
| Rocket Money | $4-$12 | Yes | Traditional budget | 4.2 |
| YNAB | $14.99-$99 | Yes | Zero-based budgeting | 4.8 |
| Goodbudget | $0-$10 | No | Envelope system | 4.6 |
| Monarch Money | $14.99-$99.99 | Yes | Zero-based budgeting | 4.9 |
| PocketGuard | $12.99-$74.99 | Yes | Zero-based budgeting | 4.6 |
| EveryDollar | $17.99-$79.99 | Yes | Zero-based budgeting | 4.7 |
| Quicken Simplifi | $47.88 | No | Multiple types of budgets | 4.1 |
| Honeydue | Free | No | Zero-based budgeting | 4.5 |
| Oportun | $0-$5 | Yes | Goal-based budgeting | 4.7 |
| Hiatus | $0-$10 | No | Goal-based budgeting | 4.2 |
One thing lacking from EveryDollar is its inability to automatically categorize your transactions like YNAB, PocketGuard, and other options do. You can categorize them yourself, but it can take some time to do.
Is EveryDollar Worth It?
If you’re looking for guidance with financial management, EveryDollar could be the right choice for you. It’s relatively easy to set up and make a plan for all incoming cash, even if you’re new to budgeting. However, there are other apps that categorize transactions for you, so the manual categorization of EveryDollar could be a dealbreaker for some.
Fortunately, you can try EveryDollar for free to see some of its basic features before signing up for a subscription.
Does leftover money carry over to the next month in EveryDollar?
Yes, EveryDollar allows you to carry leftover, unspent budgeting cash into the next month to put toward savings goals or extra expenses. This feature is known as Funds. This helps you save up for expenses that don’t happen every month, like oil changes for your car, vehicle insurance premiums, or an annual TV streaming service.
Can two people use the same EveryDollar account?
Yes, two people can share the same EveryDollar account. Sharing an account allows two people to use the same account on their own devices. However, another person will need to use the same login credentials you use to log into your account, so be sure to allow sharing only with someone you trust.
How long does it take for my transactions to appear in my EveryDollar account?
After first connecting a bank account, it can take 24-48 hours for your transactions to appear. However, your transactions should start showing more quickly after the initial connection, although this also depends on how frequently your bank updates transactions.
Can I delete a budget group in EveryDollar?
Although you can delete budget groups you create in EveryDollar, you can currently only do so by visiting your account on the EveryDollar website rather than the app. You cannot delete the Income and Debt categories.
Is EveryDollar safe to use?
Yes, EveryDollar keeps your financial information, personal information, and other data in its database encrypted for your safety. You also need to use a username and password to log into EveryDollar to keep your account secure.
