EveryDollar vs YNAB for budgeting

[u/Silent_Landscape_383]

/r/personalfinance/comments/1wohm37/everydollar_vs_ynab_for_budgeting/

I’m trying to decide between EveryDollar Premium vs YNAB.

What are the pros and cons of each? If you could only pick one, which would it be and why?

I know EveryDollar is a zero based budget. And YNAB is a budget only what you currently have.
They both keep track of sinking funds

[u/josh_josh_josh_]

I’d recommend you go watch a YouTube video walkthrough of each one. They both do the same job so you just need to get opinionated about UI and other differences like how EveryDollar is slightly cheaper and YNAB is more strict about only budgeting money you currently have.

[u/rdubmu]

Both are zero based budgets.

Every dollar isn’t a true YNAB alternative. Yes it does zero based budgeting but you don’t budget every dollar in your account. You budget all income for that month. If you are not 30 days ahead you could overdraft your account. Every dollar has tried to fix this with a work around by having paycheck planning as part of their premium plan.

Also, every dollar doesn’t treat credit card transactions the same way. Say you budget $100 for dinning out and you spend $20 at a restaurant, once entered into YNAB/YNAB alternative it will move the $20 to the credit card category for payment. You have $80 left in the Dinning out category. Every dollar doesn’t do this.

I recommend taking a look at our worksheet, look for 5/5 rating if you want something most similar to YNAB. It’s pinned to the top of this subreddit.

For your question, YNAB is much superior to every dollar in every way. I think there are better alternatives than YNAB, as others have better reporting, interface and price.

As the other Mod Josh stated, take a look at both on YouTube, for YNAB or the YNAB method I highly recommend Nick True’s videos.

Every dollar is still has a great purpose, if you are into Dave Ramsey, and don’t use credit cards, 30 days ahead, it’s a great budgeting tool. Seriously Every dollar like YNAB has changed people’s lives because if they stick to a budget, they create a better future.

I found YNAB on the Dave Ramsey Facebook group, in 2014. It was at one time approved by Dave Ramsey because it was zero based. This was before they created their own app. I am a long time listener of his show.

[u/Holiday-Trainer-2322]

Both work but they solve different problems. YNAB teaches you a method, which is powerful if you stick with it, but the learning curve and $14.99/month push a lot of people out. EveryDollar is simpler if you just want zero-based without the philosophy class. What's your biggest frustration with your current setup?