For example, if you wanted to build an emergency fund, you can create a savings category known as Funds. Popular categories can be favourited for added visibility.Ĭategories don’t have to be for traditional expenses only. The first amount you input into each category is referred to as the Planned amount. There are eight preset spending categories in EveryDollar, but you can add as many of your own categories as you’d like.
This could be anything from your mortgage or credit card to your retirement savings account. You start by inputting all of your income, and the budget isn’t complete until you’ve allocated 100% of the funds to an expense category. Like YNAB, another popular budgeting app, EveryDollar takes a zero-sum approach to budgeting. Once that’s out of the way, you’ll be well on your way to creating your first EveryDollar budget. You’ll also need to provide your address. On the EveryDollar website, you’ll be asked to provide your name, email address and create a password. To start budgeting with EveryDollar, you need to create a new account.
#Free budgeting software canada free#
There is both a paid and free version of EveryDollar, and it is available in Canada and the US. EveryDollar is Dave Ramsey’s brainchild, the enormously popular American personal finance author and radio show host.
It’s similar to other budget apps that you may be more familiar with, like Mint or YNAB. What Is EveryDollar?ĮveryDollar is a budgeting app for your desktop or smartphone. In this article, I’ll let you know how EveryDollar works, how it compares to another leading budget app, and who I think it’s best suited for. Like other online budgeting tools, EveryDollar makes it easy to set money goals and track your spending. Today, I’m reviewing one you may not be familiar with – EveryDollar. Looking for a new budget app? There are several great options to choose from.
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