Financial Tools: The Pros & Cons of EveryDollar


EveryDollar is a zero-based budgeting app that helps users create and stick to a budget. The app, which was created by Ramsey Solutions, is available for both iOS and Android devices and offers a range of features to help users track their income and expenses and stay on top of their finances. Some of the key features of EveryDollar include the ability to create and manage a budget, track your spending in real-time, and set and track financial goals. The app also offers the ability to connect to bank accounts and credit cards to automatically import transactions, which can save users time and effort when it comes to tracking their spending. Additionally, EveryDollar offers a premium subscription called EveryDollar Plus which gives access to more advanced features such as access to personalized financial advisors, credit monitoring, and more.

The budgeting method used in EveryDollar is Zero-based Budgeting, which is a budgeting method where you allocate every dollar you earn to specific budget categories and expenses until you reach zero. This method can help ensure that you are spending within your means and saving enough money to reach your financial goals.


EveryDollar can be beneficial for a wide range of users, but it may be particularly well-suited for people who want to:

  • Gain a better understanding of their spending habits and identify areas where they can cut back.
  • Create a budget and stick to it.
  • Set and track financial goals, such as saving for a down payment on a house or paying off debt.
  • Use a zero-based budgeting method to ensure they are living within their means.
  • Automate the budgeting process and minimize the need for manual data entry.
  • See the real-time view of their spending and also connect to their bank account and credit card to automatically import transactions.
  • Track their budget in a easy and simple way.
  • Have access to personalized financial advisors and credit monitoring, they can subscribe to EveryDollar Plus.


Some of the pros of using EveryDollar include:

  • Easy to use interface that makes it simple to create and manage a budget.
  • The zero-based budgeting method that can help users ensure they are living within their means.
  • Automatic syncing with bank accounts and credit cards, which can save users time and effort.
  • Real-time tracking of spending, so users can see exactly where their money is going.
  • The ability to set and track financial goals, such as saving for a down payment on a house or paying off debt.
  • Customizable budget categories, which allows users to tailor the app to their specific needs and spending habits.
  • Availability of EveryDollar Plus which gives access to more advanced features such as access to personalized financial advisors, credit monitoring, and more.
  • Simple and minimalistic design which makes it easy to understand and to use it daily.
  • Mobile App which makes it easy to track and manage budget on the go.
  • Has a free version which makes it accessible to most users.


Like any budgeting app, EveryDollar has some cons that are worth considering. Some of the cons of using EveryDollar include:

  • The app’s user interface can take a bit of time to learn, which may be challenging for some users.
  • Limited account options available for tracking investments, net worth and other assets.
  • The app does not have an automatic bill pay option, which might be important for some users.
  • The Free version does not have all the features and options which are offered in paid versions.
  • It does not offer the ability to collaborate on a budget with a partner or spouse, which could be helpful for some users.
  • It is not available for desktops or laptops and it can be used only on mobile devices.
  • It may not be as useful for people with complex financial situations, or who need more advanced features such as forecasting, forecasting, and investment tracking.
  • Users with a large amount of bills and expenses to track may find the process to be tedious and time-consuming.
  • Some users have reported issues with syncing bank accounts and tracking transactions, which can make it difficult to get an accurate picture of their spending.


Overall, EveryDollar is a budgeting app that can be helpful for many people, but it may not be the best fit for everyone. It’s a great tool for someone who wants to track and control their spending, but for those who want a more detailed and advanced budgeting app it may not be the best choice. It’s important to weigh the pros and cons of EveryDollar and compare it to other budgeting apps before deciding to use it.


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