Budgeting may not be the most exciting topic to talk about, but it is crucial for anyone who wants
to get their finances in order. Creating a budget can help you save money each month and get
out of debt, and it doesn’t have to be complicated. You can use envelopes, a spreadsheet, or one of the
many budgeting apps that are available to help you stay on track.
There are a lot of budgeting apps available these days, but not all of them are created equal. EveryDollar is a popular app that many people find useful for managing their finances. EveryDollar follows Dave Ramsey’s personal finance system, specifically the 7 Baby Steps. In this article, we’ll take a look at what you get with this app and whether or not it’s worth the money.
EveryDollar Highlights
- There is a free version available with limitations.
- $12.99 per month on the monthly plan or $79.99 per year
- Sync to your bank account to monitor your balances and purchases
- Implements Zero-Based Budgeting (ZBB) system
What is EveryDollar?
EveryDollar is a budgeting app that is designed to help you manage your finances and save money. Dave Ramsey founded the company and still runs it today. The app can be used to create a budget, track your spending, and more.
Ramsey is also known for hosting a radio show and podcast called The Ramsey Show, where he discusses various financial topics. He has authored several best-selling books on the subject of money management and is perhaps best known for his “Baby Steps” plan.
How does EveryDollar work?
EveryDollar is a budgeting app that helps you stay on top of your finances. There is a paid version that comes with additional features and benefits, such as:
- Connect EveryDollar to your bank
- Monitor your account balances
- Automatically import your transactions to EveryDOllar
EveryDollar is a budgeting tool that helps you keep track of your spending. It doesn’t include features for monitoring stocks or paying bills, but it can help you stay on top of your budget. With the free version, you’ll need to enter transactions manually. However, the paid version allows you to automatically download transactions from your bank.
Making your own transactions instead of relying on automation can have some psychological benefits. You may become more aware of your expenses this way since you can’t just click to confirm and be done with automatic/downloaded transactions. With manual transactions, you have to put in more effort, which can help make you feel the weight of your spending more
EveryDollar Pros and Cons
Pros
- Free version available
- Bank account synchronization
- Budget planning
Cons
- No investment tracking
- The paid version can become costly
What is Zero-Based Budgeting?
Zero-based budgeting (ZBB) is a system in which you “give every dollar a job.” This system was not created by Dave Ramsey but is a popular budgeting method.
A good budgeting system is one that helps you plan your spending and avoid impulse purchases. Zero-based budgeting (ZBB) is a great option for those who want to be extra disciplined with their finances. With ZBB, all of the money you have is assigned to specific expenses or savings accounts. This forces you to think carefully about how you spend your money and ensures that you don’t overspend.
Zero-based budgeting can be confusing for beginners. With EveryDollar, you don’t have to be on board with ZBB – many people swear by the system. However, it’s worth doing further reading on ZBB so that you understand how it works before using the app.
How much does EveryDollar cost?
EveryDollar is available for $12.99 per month, or get a yearly subscription for $79.99. 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 exclusive membership that provides access to EveryDollar, as well as additional
features and benefits:
- Financial Peace University
- BabySteps app
- Ask a Coach
- Debt Snowball Calculator
There are many great apps out there to help you with your finances. FinancialPeace, EveryDollar, and BabySteps are all options that can help you stay on track and learn more about personal finance.
EveryDollar is for people who want to follow Dave Ramsey’s Baby Steps and get to their financial goals.
What are the fees associated?
EveryDollar offers a free basic version, but there is also a premium version available for $12.99 per month or $79.99 per year.
Ramsey+ is a subscription service that gives users access to exclusive content and features. There are three different subscription options: a year-long plan for $129.99, a 3-month plan for $59.99, and a 6-month plan for $99.99.
You can still use the free version of EveryDollar, but you won’t get the full results of the app.
How to open an account?
EveryDollar.com is the website to visit to open an account. There is also a free 14-day trial during which time you can cancel at any point, no questions asked.
Is EveryDollar secure?
There is no money on the deposit, but you may find the purchasing options strange. The credit card payment option is hidden because Dave Ramsey does not believe in using credit cards.
It’s easy to find the option to use a debit card. But, with a little digging, it’s also possible to use
your credit card.
EveryDollar Review
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Undoubtedly, everydollar.com is a legit budgeting app that can help people manage their finances. For $12.99 a month customers get access to features such as bank synchronization and spending plan. There are more affordable options available that offer similar features, so it comes down to whether or not the pricing is reasonable for your individual financial situation.
Are you trying to find the best budgeting app for your needs? There are many popular options available, such as YNAB, Clarity Money, Personal Capital, and Tiller Money. However, it can be tough to decide which one is right for you. That’s why we’ve put together a full guide comparing each of these apps.
