EveryDollar vs. PocketGuard: What’s the best personal budgeting app for you?

FeatureEveryDollarPocketGuard
Automatic Tracking
Yes (EveryDollar Plus only)
Yes
Category Spending
Extensive, customizable categories
Detailed breakdowns by category
Online Shopping Tracking
Tracked as part of the category spending
Intuitive and in-depth analysis
Budgeting Approach
Zero-based budgeting
In My Pocket' to show remaining everyday spending money
Ads
No
Yes (Free version)
Bill Negotiation
No
Yes
Spending Analysis
Basic with free version, detailed with Plus
Detailed, with insights and trends
Spending Limit Alerts
Yes
Yes
Subscription Fee
Free, or $129.99/year for EveryDollar Plus
Free, or $34.99/year or $4.99/month for PocketGuard Plus

Budgeting apps have revolutionized how we manage our finances. They provide insights into our spending habits, offer tailored budgeting advice, and help control compulsive spending. Today, we will be looking at two of the most popular budgeting apps out there: EveryDollar and PocketGuard. We will specifically focus on how they aid in understanding and controlling online shopping habits.

EveryDollar

Created by money-management expert Dave Ramsey, EveryDollar is highly focused on helping users create comprehensive, zero-based budgets.

Online Shopping Tracking

EveryDollar excels at helping users track their online shopping spending in two ways:

  • Category Spending: EveryDollar allows users to assign each transaction to a specific category, making it easy to track online shopping habits. Categories are customizable, meaning you can create a specific “Online Shopping” category if you want a detailed view of this aspect of your spending.

  • Automated Tracking: When you upgrade to EveryDollar Plus, the app will automatically track transactions across all your accounts. This feature is specially useful for online shopping habits as it saves time and ensures accuracy.

Pros and Cons

Pros

  • Comprehensive, tailored budgets.
  • Detailed categorization of expenses.
  • It supports the zero-based budgeting method.

Cons

  • The free version does not support automatic tracking of transactions.
  • It lacks a money-saving capability to negotiate bills or find better deals.

PocketGuard

PocketGuard, on the other hand, is known for its ability to ‘guard’ your pocket by showing you how much money you have ‘In My Pocket’, or how much you have left for everyday spending once all bills and savings are accounted for.

Online Shopping Tracking

PocketGuard takes a slightly different approach to help users understand their online shopping habits:

  • In-Depth Analysis: The app provides an in-depth analysis of your spending across various categories including online shopping. It identifies trends, and offers insights into your spending behaviour.

  • ‘In My Pocket’: The ‘In My Pocket’ feature aids in controlling compulsive online shopping by making it clear how much money is available for non-essential spending.

Pros and Cons

Pros

  • ‘In My Pocket’ feature helps control impulsive spending.
  • Detailed analysis of spending habits.
  • It has a bill negotiation feature to help save money.

Cons

  • Less customizable than EveryDollar.
  • The free version includes ads, and some features are only available in the paid version.

Both EveryDollar and PocketGuard offer unique features that can help you control and understand your online shopping habits. EveryDollar focuses more on creating detailed, comprehensive budgets, while PocketGuard provides in-depth analysis of your spending habits to discourage impulsive purchasing.

Remember, the best app for you ultimately depends on your personal needs and budgeting style. Try out both to see which one you prefer. Happy budgeting!

What Else? Are these not the perfect fit?

Curious what else is out there in the land of personal budgeting apps? Not convinced that this is right for you? No worries! We’ve analyzed and compared 42 (!) different pairs of personal budgeting apps and you can check out our main jumping-off point for the set of reviews here: Choosing a Personal Budgeting App – What’s Right for You?

Have a personal budgeting app that you’d like our thoughts on? Drop us a line and we’d love to add it in. 🙂