In 2009, staffers at Dayspring Technologies created an experiment. They wanted to create virtual envelopes — basically capitalizing on the age-old budgeting tool of dividing up your spending into envelopes to help you manage your spending. As time has gone on, they've added a number of other features like checkbook reconciliation, accounts, recurring transactions, etc. because of user feedback.
GoodBudget believes that budgets reveal priorities, so by seeing whether your spending matches up with what you say you value in life, the company's software can help you to take steps to better align priorities with spending habits. What it calls the "Good Budget Way" also incorporates using safe community relationships to improve your budgeting and encouraging giving generously to those in need.
Along with its mobile apps, it has a web version to access all of your information making this budgeting system accessible to anyone with a computer, an iOs product, or an Android Device.
GoodBudget's budgeting software has many tools that have been tried and tested and have been proven to work. These tools allow clear and smart ways to organize your money, as well as, helping you with your budgeting and expense management needs. Your bank accounts will hopefully stop draining as you implement these tools in your life:
GoodBudget doesn't attempt to be anything revolutionary. It even says so itself — it's going for a tried-and-true method. What the company does seek to do is make the process of budgeting easier by letting the technology do the work for you. Whether you're someone who enjoys using a credit card or a debit card, these budgeting tools will allow you to learn and track your income and expenses with multiple devices.
The software can be accessed via phone or home computer, so you can see a breakdown of spending while on the go. When compared to many of the other personal finance apps, GoodBudget's mobile app is simple, easy-to-use, and is a powerful tool to track your spending and budget your money. This mobile app is available for iOS products as well as Android devices.
GoodBudget offers a free version and a paid version. The free version offers basically the exact same features, but limits how many envelopes, accounts, devices, and years of history stored. The free version also doesn't come with any live support feature. However, the features are all the same.
While the paid account does offer unlimited accounts, the free account only allows you to link one account, which probably isn't enough for most people. Competitors like Mint are also free and allow unlimited accounts. The free GoodBudget account isn't going to let you add all credit cards, checking accounts, savings accounts, student loans, or investments. While it's nice that the free account lets you give GoodBudget a try, most likely, you'll end up needing to upgrade to the paid account.
One noticeably missing feature is the ability to take a picture of a receipt or scan it in. The app makes it pretty easy to manually enter purchases made via cash or an unlinked account, but the photo feature would make things even easier.
The free account doesn't include any support from representatives, only the online community. The paid account does have email support, but no phone or chat support. This also means that there is no way to counsel with financial experts.
Liana Colorado Springs, CO
3 years ago