EveryDollar Review: My Method For Budgeting

This post is sponsored by EveryDollar.

A year ago I started trying out various budgeting apps to find out which budgeting system works best for me. For the past 12 months, I’ve been using EveryDollar created by Dave Ramsey. 

I even did a budgeting app comparison back in March and EveryDollar was my favorite software to use back then. It still is today! 

We’re breaking down the features, benefits, and pros and cons of using EveryDollar. You’ll find out if this budgeting app is for you! 

What is EveryDollar?

EveryDollar is a budgeting app that helps you create a monthly budget.

The purpose of the app is to help you take control and manage your finances with a zero-based budgeting program. This means you give every dollar a job. 

EveryDollar is the app to use if you hate budgeting or find that you can’t stick to it.  

I’m a minimalist, organized person, so EveryDollar’s app is my favorite among other apps that are cluttered with ads or not very user-friendly. 

There are two versions of EveryDollar, both the free and premium versions.

The app is available on iOS and Android and even has a desktop version.

Signing up is free, but features are limited on the free version.

With the free version, you have to manually add in all your transactions. I opted for the paid version because I knew I’d forget about purchases here and there and then get frustrated with myself. 

Features of free EveryDollar subscription:

• Create unlimited budgets
• Track transactions against your budget
• Email support

Features of paid EveryDollar subscription:

• Create unlimited budgets
• Track transactions against your budget
• Email support
• Connect to your bank for faster expense tracking
• View account balances within EveryDollar
• Call-back support and coaching calls

Here is what the desktop dashboard and app look like. I personally find EveryDollar’s desktop version to be superior because I like to see everything at once at one glance. 

Before each month starts, you can create a monthly budget so you can hit your money goals. 

Pros of EveryDollar:

• Great for beginner budgeters
• No ads (unlike Mint)
• Minimalistic and simplistic visuals
• Organized, no ads, and user-friendly

Cons of EveryDollar:

• Limited features compared to other popular budgeting apps
• EveryDollar is solely for budgeting and doesn’t have extra features like tracking net worth 

How does EveryDollar work?

1. Upon completing your account process, you’ll come to the budgeting page with your categories listed. EveryDollar has categories already there for you, including areas like income, charity, church, rent, and so on. 

2. Create categories personalized to you. For example, you may not donate to any charity or church. You can delete those categories and add new ones if you desire. 

3. Insert your planned income under slots Paycheck 1 and Paycheck 2. 

4. Insert a planned amount for each category.

5. Synch your bank account and credit cards (if you have the paid version). 

6. Every time you make a transaction, you will get a notification in the top right-hand corner, labeled transactions. Drag and drop those transactions into the appropriate category. 

7. Done! ☺️

How to get started with EveryDollar

Create an account with EveryDollar here.

This is the fun part! You’ll be asked what your current money goals are.

You get the choice between paying off debt, save for retirement, stop living paycheck to paycheck, pay for kids’ college, save for a home, or travel. I chose: save for retirement.

Then, EveryDollar will ask you if you own a home, rent, own a car, if you’re married, have kids, or have pets. I own my car, rent, and have kids. 

You’ll be asked your income so you can start budgeting every dollar you make.

You’ll input various expenses like mortgage/rent, electricity, cable, etc. You’ll also be asked what debt you have so you can start planning for that in your budget. 

 

Next, you can connect bank accounts to EveryDollar (if you have the paid version).

This is a must for me because I like to make budgeting as simple as possible.

The app automatically uploads transactions I’ve made via credit or debit card. 

Plan your expenses for each month. EveryDollar is customizable so you can delete or add new categories. 

Now, you can track your spending! Every time you spend money, create a transaction (free version) or drag and drop your transaction into the appropriate category (paid version). 

Another bonus feature of the EveryDollar app is Dave Ramsey’s baby steps program. 

Dave Ramsey’s baby steps:

1. Save $1,000 for your starter emergency fund.
2. Pay off all debt (except the house) using the debt snowball.
3. Save 3-6 months of expenses in a fully-funded emergency fund.
4. Invest 15% of your household income in retirement.
5. Save for your children’s college fund.
6. Pay off your home early.
7. Build wealth and give.

When you create your EveryDollar account, you can check off certain steps. This helps see where you are at one glance and lets you create goals.

If you have debt, EveryDollar can be really motivating.

As you see below, you can input your different debts (student loans, medical debt, etc.) and see how much debt you’ve paid and how much is remaining. 

Benefits of using EveryDollar Plus:

• Connect EveryDollar to your bank
• Monitor your account balances 
• Track transactions in your budget
• See transactions auto-populate in EveryDollar
• Access to Financial Peace University 
• Access to Smart Money Smart Kids Course

How I Use EveryDollar

Before the upcoming month starts, I create my budget and customize the categories and amounts.

Right now, my goals are helping my family financially and contributing as much possible to my 401k and Roth IRA.

So after creating my budget, I create a custom giving and retirement account category. Every single dollar of my income is getting a job and it feels so good to see everything laid out. 

You can try EveryDollar’s premium version for 15 days.

I’m not a fan of the free version because transactions are not automatically uploaded, you have to upload everything yourself.

And if you’re not a fan of budgeting or managing your money, that’s going to be really hard to stick to.

That’s why the premium version is a must for me because I’ve made it SO easy to stick my budget.

All I have to do is drag and drop my transactions into the appropriate categories. Each week, I can see where my budget is at. 

P.S. I’m doing a giveaway in partnership with EveryDollar! They’re giving one of my readers a 1-year paid premium subscription to EveryDollar. You can enter the giveaway on my Instagram here.

You can learn more about EveryDollar’s free and premium version here. It’s worth checking out!

Don’t forget to sign up for the free resource library and get exclusive access to free printables & planners related to saving and making money, meal planning, and more!

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Do you budget? Do you use EveryDollar to budget?

Share this post with someone who needs a budget!