EveryDollar vs Simplifi 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
 

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In the personal finance management industry, EveryDollar and Simplifi stand out as two popular budgeting tools, each offering unique features to help users manage their money effectively. EveryDollar, known for its simplicity and association with financial guru Dave Ramsey, emphasizes zero-based budgeting.

Simplifi, on the other hand, offers a more comprehensive and customizable financial overview, integrated with Quicken’s robust financial management tools. This comparison aims to dissect the functionalities, user experience, and overall value of each platform to guide users in selecting the tool that best suits their financial planning needs.

For more detailed analysis of Simplifi check out our full Simplifi by Quicken review.

EveryDollar is Better for:Simplifi is Better for:
Zero based budgetingComprehensive financial tracking
Simple budgeting needsCustom savings goals
Manual expense trackingDetailed spending insights
Setting up detailed budgetsMobile-friendly budgeting

Introducing the Platforms

EveryDollar

everydollar website

EveryDollar, a part of Ramsey Solutions, focuses on zero-based budgeting, encouraging users to allocate every dollar they earn towards expenses, savings, or debt. The platform is simple yet effective, allowing users to manually enter their transactions or connect to their bank for automatic updates with its premium version.

EveryDollar promotes a disciplined approach to budgeting, aligning with Dave Ramsey’s financial principles. Read more on the official website.

Simplifi

quicken simplifi website

Simplifi by Quicken provides a dynamic and intuitive approach to personal finance. It offers a range of features, from budgeting and savings goals to spending analysis and upcoming bill alerts. Simplifi’s strength lies in its ability to give users a comprehensive view of their financial health by syncing with various financial institutions, encompassing bank accounts, credit cards, and investments.

Read my full review to learn more about Simplifi.

EveryDollar Logo Simplifi Logo
Type of Service Zero-based budgeting Comprehensive financial management
Best Use Manual budgeting and expense tracking Automated budgeting and financial overview
Additional Features Basic support with financial coaching options Extensive support with educational resources
User Interface Budget reports, goal-setting Investment tracking, customizable categories
Current Promotion

More Info

More Info

Get 50% OFF Simplifi Today!
Modest Money Overall Rating
3.5 rating based on 5 ratings
4.5 rating based on 5 ratings
EveryDollar Logo
Type of Service Zero-based budgeting
Best Use Manual budgeting and expense tracking
Additional Features Basic support with financial coaching options
User Interface Budget reports, goal-setting
Current Promotion

More Info

Modest Money Overall Rating
3.5 rating based on 5 ratings
Simplifi Logo
Type of Service Comprehensive financial management
Best Use Automated budgeting and financial overview
Additional Features Extensive support with educational resources
User Interface Investment tracking, customizable categories
Current Promotion

More Info

Get 50% OFF Simplifi Today!
Modest Money Overall Rating
4.5 rating based on 5 ratings

EveryDollar vs Simplifi Video

Factor 1: Budgeting and Expense Tracking

  • Simplifi: Advanced features, automated categorization.
  • EveryDollar: Simple zero-based budgeting.

EveryDollar’s approach to budgeting is based on the zero-based budgeting method, where users allocate every dollar of their income to specific categories, ensuring that every dollar is accounted for. This method is effective for those who prefer a hands-on approach to managing their finances.

Simplifi, however, takes a more modern approach by offering automated categorization of transactions and customizable budgeting tools. This not only saves time but also provides users with a more detailed and accurate picture of their spending habits. Simplifi’s user-friendly interface and customizable features make it easier for users to track expenses, set budgets, and adjust their spending plans on the go.

Factor 2: Savings Goals and Financial Planning

  • Simplifi: Dynamic tracking, visual progress.
  • EveryDollar: Basic goal tracking.

EveryDollar’s integration of savings goals into its budgeting platform provides a straightforward way for users to earmark funds for future expenses or savings. This feature aligns well with its zero-based budgeting approach, encouraging users to be proactive about their savings.

Simplifi, however, elevates the experience of setting and tracking savings goals. It not only allows users to create multiple savings goals but also offers visual tools to track progress towards these goals. This enhanced functionality gives users a clearer picture of how their current spending impacts their future financial targets, making it a more versatile tool for financial planning.

Factor 3: Integration and Synchronization with Financial Accounts

  • Simplifi: Robust integration.
  • EveryDollar: Limited to premium users.

While EveryDollar provides account synchronization, this feature is limited to its premium users. The platform primarily focuses on manual budgeting, which might not appeal to users looking for automatic updates and comprehensive account integration.

Simplifi stands out in this area by offering advanced integration capabilities. It synchronizes effortlessly with a variety of financial institutions, providing users with a holistic view of their finances, including bank accounts, credit cards, loans, and investments. This seamless integration is a significant time-saver and adds to the accuracy of financial tracking and budgeting.

Factor 4: User Experience and Accessibility

  • Simplifi: Superior, dynamic interface.
  • EveryDollar: Simple and straightforward.

EveryDollar’s user interface is clean and simple, making it easy for users to navigate and manage their budgets. This simplicity is particularly appealing to those who prefer a no-frills approach to budgeting.

Simplifi, however, takes the user experience to the next level. Its mobile app and web platform are not only aesthetically pleasing but also intuitive and easy to navigate. Simplifi’s interface caters to the needs of both novice and experienced budgeters, offering a range of tools and features that enhance the overall user experience. The mobile app ensures that users can manage their finances on the go, providing flexibility and convenience.

Factor 5: External Customer Reviews & Ratings

External EveryDollar Reviews & Ratings

SiteRating
Moneywise3.8
Tom's Guide3.5
Google Play3.4 from 11,020 reviews

External Simplifi Reviews & Ratings

SiteRating
PC Magazine4.5
Tom's Guide4.5
The Savvy Couple4.4
Investor Junkie4.3
Apple App Store4.1 from 1,882 reviews

The Verdict

In the comparison between EveryDollar and Simplifi, Simplifi emerges as the more robust and versatile personal finance tool. Its comprehensive feature set, including advanced budgeting tools, savings goal tracking, seamless account integration, and a superior user experience, make it an excellent choice for a wide range of users.

EveryDollar, with its focus on zero-based budgeting, offers a solid platform for users who prefer a more hands-on approach to budgeting. However, for those seeking a more dynamic and automated personal finance tool, Simplifi provides a more comprehensive solution.

For individuals looking to take control of their financial lives with an intuitive and feature-rich budgeting app, Simplifi is a standout choice. Click here to get started with Simplifi.
Click here to get 50% OFF with our exclusive link for a limited time!

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Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.