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

FeaturesGoodbudgetEveryDollar
Online Spending Tracking
Manually input and categorize transactions in appropriate 'envelopes'
Manually input or auto-track transactions and categorize into customized spending groups
Account Connectivity
No direct bank account linkage
Bank account linkage in paid version (EveryDollar Plus)
Spending Analysis
General spending analysis - no specific tools for online shopping
General spending analysis - no specific tools for online shopping
Budgeting Method
Envelope budgeting system
Zero-based budgeting
Interface & Usability
User-friendly interface but may require learning curve due to 'envelope' system
User-friendly, straightforward interface
Pricing for Extra Features
$7/month or $60/year for unlimited envelopes and accounts
$129.99/year for automatic transaction download and tracking
Customer Support
Tutorial videos, FAQ section, email support
Tutorial videos, FAQ section, email support

In the age of digital transactions and online shopping, maintaining financial health needs more than just traditional budgeting. We need smarter tools that give us better insights and control over our spending habits. That’s where budgeting apps like Goodbudget and EveryDollar come into play. This blog post will provide a comparative review of these two popular budgeting apps, focusing on how they can help manage compulsive online spending.

Introduction to Goodbudget and EveryDollar

Goodbudget is a budgeting tool based on the envelope budgeting system. It’s perfect for the digital age, providing functionalities that allow you to categorize your income into different ‘envelopes’ based on your spending categories.

EveryDollar, on the other hand, is a zero-based budgeting app created by Dave Ramsey. It requires you to give every dollar a job, ensuring that every cent of your income is accounted for.

How they Deal with Online Spending

Goodbudget

Goodbudget provides a systematic way to handle your online spending. When you make online purchases, you can record them in the appropriate envelope, helping you track your consumption and see where your money goes. However, focusing on online shopping, the app doesn’t offer specific tools to analyze or highlight your online shopping habits. You may need to create a specific ‘online shopping’ envelope or manually categorize and analyze your online purchases.

EveryDollar

EveryDollar shines in helping you track your online spending. Every purchase you make, online or otherwise, is recorded and categorized into customized spending groups. This means you can create a specific category for online shopping and directly track your compulsive spends. While it doesn’t feature explicit online shopping analysis tools, the clear categorization and zero-based budgeting system give you more control and insight into your online spending habits.

Comparing and Contrasting Features

Interface and Usability

Goodbudget has a clear, user-friendly interface but takes some time to get accustomed to, mainly due to the unique ‘envelope’ system.

EveryDollar also boasts a clean interface that’s easy to navigate. With its straightforward approach, many users find it simpler and quicker to get started.

Connectivity

Goodbudget does not connect to your bank account directly, meaning you have to manually enter all your transactions.

EveryDollar has a free version that requires manual entry, much like Goodbudget, but its Plus version can connect to your bank account, automatically tracking and categorizing transactions.

Pricing

Goodbudget has a decent free version, limited to 20 envelopes and one account. To access unlimited envelopes, unlimited accounts, and other features, you’ll need to upgrade to the Plus version at $7/month or $60/year.

EveryDollar also offers a free version. However, to access automatic transaction download and tracking features, you’ll need to upgrade to EveryDollar Plus, priced at $129.99/year.

Customer Support

Both Goodbudget and EveryDollar offer strong customer support, including tutorial videos, FAQ sections, and email support.

Both Goodbudget and EveryDollar are powerful tools that can help curb compulsive online spending. Goodbudget’s envelope system encourages proactive planning for spending while EveryDollar’s zero-based budgeting ensures every dollar is accounted for, leaving less room for impulsive online spends.

However, neither app offers a dedicated feature to analyze online shopping habits, which may be a letdown for some. Instead, they provide robust categorization that, if used wisely, can give you insights into your online shopping behavior.

Ultimately, choosing between Goodbudget and EveryDollar depends on your personal preference, budgeting style, and willingness to manually input transactions. 

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. 🙂