Setting up the app is a breeze. For example, it restricts users to one financial account. It’s Simple to Setup & Use. Go there for details about competing products and how we tested them. Pre-qualified offers are not binding. From the app’s main screen, users can tap the “Edit” button and then set the app so they budget weekly, monthly, semi-monthly, or every two weeks. Reviews from Goodbudgeters. Even Goodbudget Budget Planner, the iOS app, sits at a 4.7 out of 5. Like You Need a Budget and Every Dollar, Goodbudget uses the envelope system to help you get a grip on your spending. Goodbudget is the virtual — and less risky — way to do this. Read reviews and download the best budgeting apps from top companies, including Mint, PocketGuard, Simple, Goodbudget, Wally and more. There are two Goodbudget plans: a free plan and a paid Plus plan that costs $5 per month or $45 per year. Sync across multiple devices including iPhones, other smartphones, and the web. With each transaction, the appropriate dollar amount is deducted from each envelope. Goodbudget offers two plans: Free provides 10 monthly and 10 annual envelopes and allows you to log in to your account from two devices, but it restricts you to one financial account. Wealthrocket’s Goodbudget review covers everything you need to know to see if this is the right budget tracker for you. If you’re diligent in recording your transactions, you’ll get a … You can track your spending together.”. We want to hear from you and encourage a lively discussion among our users. Our opinions are our own. Lauren Schwahn is a staff writer at NerdWallet, a personal finance website. Each of these is displayed in easy-to-grok graphs. Once you’ve assigned an amount to each envelope, you can start to enter your transactions and see how they affect your budget. 1. Email: [email protected]. Your account syncs between the app and website, so you can easily manage your budget at home or on the go. To create a budget, you first need to add your envelopes. Goodbudget is fairly easy to use but high-maintenance. The fallout from the COVID-19 crisis has caused millions of people to be out of work.Almost 40% of Americans need to borrow money to cover an emergency. Hank Coleman Leave a Comment. Goodbudget does not sync with your financial institutions, so as money moves in and out of your various bank accounts you have to manually enter the transactions. Budgeting can be tricky. And entering purchases is time-consuming; even if you import files from your bank account, you still have to categorize each transaction manually. Download Goodbudget Budget Planner and enjoy it on your iPhone, iPad, and iPod touch. That $50 will be taken out of the envelope, and you’ll have $150 left to spend on groceries for the month. Allocating funds to categroized envelopes lets you more easily budget for expenses and savings. Goodbudget is ideal for couples who want to be able to stay on the same page. Pre-qualified offers are not binding. While the degree of hands-on maintenance required might be the trick to keep some user committed to budgeting, it seems just as likely to be an impediment to those who already see budgeting as a hardship. It doesn’t espouse as strong a philosophy as … For example, say you allot $200 per month to your grocery envelope. This website and mobile app let you specify how you want to spend or save your funds. Formerly known as EEBA (Easy Envelope Budget Aid), Goodbudget is an expense tracker that makes budgeting a snap. The price as of October 2018 for a whole year’s subscription. You can import your bank transactions using a supported QFX (Quicken), OFX (MS Money) or CSV file to make recording your history less tedious. “The best part, and the relationship saver, is that you can sync the app with another person! Use “more” envelopes to allocate money toward annual expenses and savings like a vacation, Christmas gifts or an emergency fund. Goodbudget provides users with a tool to manage money. Say no more to carrying paper envelopes. I tried the traditional envelope system before—bringing cash with me everywhere in my little envelopes, but that simply didn’t work for me. It is perfect for sharing a budget with a spouse, family member, or friend. Download the file from your bank’s website, then upload it to Goodbudget and select the corresponding envelope for each transaction listed. Makes you smarter about personal finance Goodbudget is serious about helping you manage your money. It doesn’t espouse as strong a philosophy as either of those two popular apps, but it does provide an easy-to-follow path to household solvency. Sync across multiple devices including… Off the bat, there’s something that makes Goodbudget stand out from several other apps I’ve reviewed: you don’t link any bank accounts in order for the app to function. When evaluating offers, please review the financial institution’s Terms and Conditions. “I feel more in control of my spending. However, this does not influence our evaluations. GoodBudget. Goodbudget is generally praised by most experts and users alike, garnering an average 4 out 5 from most sites. Users have been extremely positive in their reviews about both the usability and effectiveness of GoodBudget. So those who want to monitor their credit card and cash spending simultaneously can do so only if they pay for the Plus plan. Goodbudget helps put your spending in perspective, because it lets you break down your budget by expense and view personalized reports. You make a trip to Wal-Mart and spend $50 on food. As promised, here is my honest review of the Goodbudget app free version after almost a month of use. He contributes regularly to TechHive and writes the Max Productivity column for PCWorld. Coronavirus is a … The app only shows spending by envelope and income vs. spending, but the web version has additional reporting options, plus the ability to download transactions into a spreadsheet. Also, you can play around with your envelopes, adjusting allowances as you see fit. Track spending by category, compare months and spot ways to save. In fact, if you don’t want to take advantage of some of the app’s syncing features or web version, you don’t even really need to … GoodBudget Review – How to Spend, Save, and Give with Budgeting App. Effortlessly sync the budget across multiple devices with family members for a transparent overview 2. The idea is to divvy up your money into digital “envelopes,” or categories based on wants and needs. Get Goodbudget for iPhone on iTunes Get GoodBudget for Android on Google Play And though it doesn’t provide a budgeting method a la YNAB’s four rules or Every Dollar’s “baby steps,” it does offer helpful tips on how to create a budget, get a month ahead on expenses, and budget toward your values. Goodbudget is a simple, effective solution for individual and household budgeters who want more control over their cash flows. The Goodbudget app came in at number two for its ease of use and the ability to upload bank transactions free via a .CSV file. Expert review. A pair of tabs on the left sidebar house your envelopes, and your bank accounts and transactions are listed in the main pane. It’s a helpful tool for beginners looking for a hands-on approach to budgeting. Pros Just download the app to both phones and … For example, you must use the web browser to edit your budgeting period or listed accounts. The fact that it doesn’t sync with bank accounts may be a turn-off to many, though. Twitter: @lauren_schwahn. Michael Ansaldo is a veteran consumer and small-business technology journalist. ‎Goodbudget is a personal finance app perfect for budget planning, debt tracking, and money management. PCWorld helps you navigate the PC ecosystem to find the products you want and the advice you need to get the job done. Every time you spend or receive money, log it in your Goodbudget account. Freelance contributor, If you want to use the envelope budgeting method to track expenses without being forced to carry around cash, Goodbudget may be a good alternative. Clicking any envelope from the home screen will list all the transactions for that category in your register. Get answers to real-world money questions, from maximizing credit cards to escaping debt. Verdict (15/20) Great choice: Goodbudget is a great resource for managing your spending. ***This post is not sponsored by the app nor do I earn any commission if you choose to sign up. Say no more to carrying paper envelopes. Some go on to praise it as “the most used app on my iPhone.”. Goodbudget is fairly easy to use but high-maintenance. The free version of the app is limiting and might be too basic for most users. Goodbudget. Share 4. The NerdWallet app can help you make smart money moves – from your couch to your commute. Some users find it doesn’t include enough envelopes and dislike that it restricts them to one financial account. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. To add more, you just pick the appropriate budget, name the envelope, and set a target dollar amount. When evaluating offers, please review the financial institution’s Terms and Conditions. Not into apps? Both plans let you access your budgets via the web and the iOS and Android mobile apps, though some functions are limited to the browser interface. All apps tested had a free version available. Goodbudget takes away the hassle of putting actual cash in paper envelopes, and instead allows you to track your spending online or in its app. ‎Goodbudget is a personal finance app for budget planning and money management. Goodbudget gives you “regular” envelopes for your frequent expenses like rent, groceries and entertainment. on Goodbudget Goodbudgets is an easy-to-use budgeting app for managing simple individual or household finances, but it would be more foolproof if it could sync with your accounts. Goodbudgets is an easy-to-use budgeting app for managing simple individual or household finances, but it would be more foolproof if it could sync with your accounts. Start by customizing your envelopes, adding your income and listing a financial “account” like a checking account, savings account, credit card or cash. The basic free membership is an effective way for rookies to control and track their finances, but folks with expansive budgets might want to upgrade to the paid membership. Goodbudget is based on the envelope system, so it’s perfect for the Dave Ramsey fans out there. Goodbudget uses the principles of the envelope method but eliminates the physical envelopes. Both plans also include charts and graphs that visually represent your spending and budgeting habits. Goodbudget designates envelopes into two categories: Monthly for your regular expenses and Annual for savings goals and irregular expenses like gifts and insurance premiums. Goodbudget is also great for anyone on the envelope budgeting system. Many or all of the products featured here are from our partners who compensate us. To allocate funds to each envelope you can either enter the dollar amount manually or have Goodbudget do it for you, in which case it will fill each one with whatever amount you designated during setup from your unallocated dollars. Goodbudget: Budget & Finance review and instructional ideas. Note: When you purchase something after clicking links in our articles, we may earn a small commission. Another notable downside is that you can’t control everything from the app, regardless of the plan you choose. But it doesn’t support automatic imports from financial institutions. Goodbudget is a budget tracker for the modern age. You can access it via your web browser or download the free app on iOS and Android devices from the App Store and Google Play store. The free plan gives budgeters a maximum of 10 regular and 10 annual envelopes, whereas Plus plan members can track as many categories as they please. You can sync your budget with the Goodbudget mobile app for Android or iOS. NerdWallet strives to keep its information accurate and up to date. Formerly known as Easy Envelope Budget Aid, or EEBA, Goodbudget is a budgeting service that helps you log and allocate your finances. One traditional method, known as the envelope system, involves physically dividing your cash into separate envelopes for expenses like groceries and your cell phone bill. If the latter describes you, you’re better off with a solution like You Need a Budget or Mvelopes that helps out with the heavy lifting. This virtual budget program keeps you on track with family and friends with the time-tested envelope budgeting method. Goodbudget allows you to run several customizable reports to track budget trends, including spending by envelope or payee, monthly spending, and spending vs. income or budget. How your data is used: Goodbudget tracks anonymized data about how you use the service, but it doesn’t sell user data. All financial products, shopping products and services are presented without warranty. But paying to use a budgeting tool may not be the best option for those trying to watch their spending. Goodbudget, which started out as Easy Envelope Budget Aid (EEBA), is a digital envelope budget system app that was started by Dayspring Technologies back in 2009.This was the first app that we used to track our budget throughout the month (we’re still using it now), and we even wrote a review about it.Goodbudget has a web portal and apps for Android & Apple devices. You can manage your budget directly from the web or from your Iphone/Android device. You can schedule regular expenses like bill payments, and import recent activity by uploading Quicken or MS Money files to save on transactions you have to input by hand, but a certain amount of hands-on attention each day will is required to keep your budget up to date. It doesn’t automatically sync with your bank accounts or credit cards, which means you have to manually enter all of your transactions to stay up to date. However, we had to poke around a bit to get familiar with the service. For example, you set aside $100 in one envelope each month to use for eating out and $150 in another envelope for gas. You just need an email address and password to sign up. Green means you have money left in the envelope; red indicates you’ve gone over budget. Pay Off Your Debt — See Your Options for Getting There, Check Your Credit: Get Your Free Credit Report, Track Your Spending and Spot Ways to Save — for Free, 5 Money Goals If You’re Still Employed During COVID-19, Do This Before Adopting or Buying a Puppy. 1. This may influence which products we write about and where and how the product appears on a page. Fudget Pro’s price varies depending on platform; price in table refers to iOS; Android version - $2.10. Both versions let you log into your account on multiple devices, raise or lower your budget as needed, transfer money between envelopes, schedule future transactions and set email notifications for scheduled transactions. Like You Need a Budget and Every Dollar, Goodbudget uses the envelope system to help you get a grip on your spending. It doesn’t automatically sync with your bank accounts or credit cards, which means you have … Goodbudget puts a modern twist on the old envelope tactic. Read our, Learn more about PCWorld's Digital Editions, Does not sync with financial institutions. The Plus version will provide a more accurate, all-encompassing picture of your finances. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. I am loving it. Plus members get the added perk of priority email support, which means the Goodbudget team will answer their messages quicker. Each envelope’s balance is represented by a colorful bar on your home screen that adjusts to reflect your activity. 2. I’ll continue to use GoodBudget. Colored bars give you you an at-a-glance status of each envelope’s balance: green means you still have money in it, red means it’s been depleted. A wonderful emulation of the old-school envelope system! Positive & Negative Reviews: Goodbudget: Budget & Finance - 9 Similar Apps, 5 Features, 6 Review Highlights & 33,601 Reviews. The Goodbudget app is well-reviewed and recommended by finance experts from Forbes, Lifehacker and more. Kelly. ‎Read reviews, compare customer ratings, see screenshots, and learn more about Goodbudget Budget Planner. Of course, the paid plan lifts these restrictions, but paying for a budgeting service seems counterproductive. There are many ways to approach building a budget. In this Goodbudget review you will know why Goodbudget is one of the best budget planner apps available. For $6 a month or $50 annually, the Plus plans gives you unlimited envelopes and accounts, lets you log in from up to five devices and adds email support. There are a couple of missing features — the ability to take a … If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. I’m able to save money and eliminate the useless expenses. Note: This review is part of our budgeting apps roundup. By digitalizing the envelope budgeting process, GoodBudget does basically all of the work for you. The ability to access the same Goodbudget account from multiple devices is useful for partners who want to share their activity. Check out our simple budget spreadsheet. Next you toggle to the Fill Envelopes screen to enter your starting income. If this is a regular paycheck, you can schedule it to populate automatically at intervals—Goodbudget provides a range of options here, from weekly to annually. Copyright © 2020 IDG Communications, Inc. The free version isn’t a realistic option for everyone. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812. Goodbudget (formerly EEBA) digitizes your envelope budget and allows you to manage your finances on the go. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Especially if you like the system and hate having all the envelopes. As you can see, the free version has its limitations. A navigation toolbar spans the top of the screen. Users say Goodbudget is easy to use for the most part, according to reviews posted in the App Store and Google Play store. PCWorld |. All financial products, shopping products and services are presented without warranty. You can choose from pre-labeled envelopes or create your own. Share a budget with sync across multiple phones (and the web!). Goodbudget (formerly EEBA, the Easy Envelope Budget Aid) is a money manager and expense tracker that’s great for home budget planning. We recommend consulting the user guides and instructional videos on the Goodbudget website before you get started. Please help us keep our site clean and safe by following our, Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate, Goodbudget Review: The Hands-On Digital Envelope System. Afterward, click “add transaction,” enter the store name and the amount you spent, and select your grocery envelope. 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