EveryDollar

Author: Kaitlyn Short

EveryDollar has created a streamlined process to conduct a number of budgeting processes to simplify financial management. Users can create monthly budgets, track spending habits, view current standing, and stay on track to reach financial goals. Create a budget, manage money, and track spending on the go with the EveryDollar budget apps for iPhone and Android. 

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The Good

• Great budgeting tools
• Service to maximize usage
• Device compatibility

EveryDollar is one of the best budgeting tools available, stressing the importance of making, tracking, and reaching savings goals. The EveryDollar software has developed a unique plan to help millions of people stick to a budget, get out of debt, and even hit savings milestones. The purpose of the software is to help consumers take control of their finances and watch their money grow. Since EveryDollar is heavily focused on the budgeting aspect of their program, the entire platform is geared around helping a user, make and keep a budget. It is not enough to just to designate how much money can be spent in a particular category. Instead, users need to be aware of where they stand at all times to make sure spending is kept under control. The process and abilities of EveryDollar is simple, yet effective. The service follows the below procedure:

• Getting Started: Create monthly budgets.
• Adapt: Update your budget quickly. Any time. Any place.
• Stay on pace: Know how you're doing with your money at a glance.
• Tracking: Track new transactions on the go.

EveryDollar has created a service that is both easy to use and straightforward. Each user is taken through step by step to make sure that they are maximizing the features and services provided through the EveryDollar program. Common benefits of using EveryDollar include:

• Easy Template: Getting rid of the traditional pen, paper, spreadsheets or boring budgeting software.
• Accessibility: Budget from your computer or on the go with EveryDollar mobile apps.
• Save Time: Create your first budget in 10 minutes.
• Updated Results: Add and split transactions on the go.
• Interface: Quick views for what's planned, spent and remaining.

The EveryDollar platform can be accessed through a number of devices include: desktop computers, iPhones, and Android products. Users can login directly through a web browser, or download the software onto their computer or mobile device (depending on what is preferred). If a user decides to download the EveryDollar software to a number of devices, all information can be synced up to ensure updated spending information.

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The Bad

• Limited features
• Limited tools
• Service options

Since EveryDollar is focused on helping their users make and stick to their budget, there are not many other personal finance management services included in the platform. The priority was developing a tool that created a unique way to save and get out of debt, however beyond that there is not much else. Services or tools commonly found on other personal finance management software but is not included in the EveryDollar platform include the following:

• Investing Tools
• Comparison Charts
• Viewing Network

While EveryDollar is free to join and download, there are no other service options to choose from. Many personal finance software platforms have a number of options for consumers to look for, especially since some may wish to enjoy premium services. However, at this time EveryDollar only has one system in place.

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The Bottom Line

EveryDollar is an ideal service for those looking to make and stick to a budget. Consumers who struggle with spending or are in debt may need additional help in their budgeting efforts, which is where EveryDollar comes into play. However, those looking for a more comprehensive personal finance management tool may be disappointed in the limited number of services offered. Those that decide to use the EveryDollar platform can expect the following from the software:

1. Free budgeting software
2. Accessible service
3. Effective budgeting tools
4. Lack of personal finance management resources
5. No premium plan