If you’ve been searching for advice on managing your money, you’ve probably come across Dave Ramsey. The founder and CEO of Ramsey Solutions has been dishing out tips on how to deal with debt, save money and spend wiser for decades, making him one of the big names in the personal finance sphere.EveryDollar allows you to apply Ramsey’s Baby Steps to financial freedom to your daily money management. The mobile app, designed by Ramsey Solutions, has emerged as one of the top budgeting apps on the market today.But is this app a good fit for you? Read on to find out.How does EveryDollar work? Like other budgeting apps, EveryDollar syncs with your bank accounts to pull your transactions into the app automatically. However, while some apps categorize transactions for you, EveryDollar puts the work on your shoulders.The app uses the zero-based budgeting method, which requires you to assign a job to every dollar. You can assign only money you’ve already received, forcing you to be deliberate about how you allocate your cash.In the Budget tab, you have three categories: Planned: How much money you expect to receive from paychecks and other income streams, along with expected spending amountsSpent: An ongoing tally of how you’re actually spending your fundsRemaining: How much money you have left for the monthYou can split a transaction between categories, which can be helpful for granular budgeters. For example, I assigned a portion of a recent Target expense to Groceries and the remaining amount to Fun Money since the rest of the purchase went to toys for our son. The Insights tab allows you to see your spending totals and offers a breakdown of where your money is going so you can see how well you’re sticking to your plan.EveryDollar Premium costs $17.99 a month or $79.99 a year. There’s a 14-day free trial to try the app out and decide if it’s right for you.While there is a free version, it’s bare bones and doesn’t provide much, so you’ll probably want to spring for the paid version. What we likeHighly detailed approach: Assigning a job to each dollar may sound like a lot of work. That’s because it is. However, if you’ve struggled to make sense of your money, this methodical approach can make a big difference in successfully balancing your budget.Affordable annual plan: If you pay for a full year’s subscription upfront — a cost of $79.99 — you’ll get a roughly 20% discount off the cost of the monthly plan.Financial coaching: EveryDollar Premium subscribers can access group coaching calls with financial experts. Topics include budgeting, debt, investing and boosting your income.New features feedback: Under the Profile tab, you can suggest new features you’d like to see in the app. It’s a nice opportunity for people actually using the app to suggest ways to improve it.What we don’t likeTime-consuming: While the app syncs with your bank accounts, it’s up to you to categorize transactions. Other apps do this for you. While this could be useful for some
Gio. Gen 16th, 2025
