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Personal Finance · head to head

Betterment vs EveryDollar

Betterment logo

Betterment

Personal Finance

Your path to financial independence

From
$5/month
Rated
-
Full reviewWebsite
EveryDollar logo

EveryDollar

Personal Finance

Budget every dollar, build wealth faster

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only EveryDollar has a free tier, so it costs nothing to try first.
  • Each has a real cost: Betterment digital automated investing charges $5 per month fee for accounts under $24,000 balance; EveryDollar the free version has no bank connection, so every transaction is entered by hand
  • They diverge on capability: Betterment covers Automated investing, EveryDollar covers Zero-based budgeting.

Where they differ

Only the attributes on which Betterment and EveryDollar actually diverge.

Attributes where Betterment and EveryDollar differ
AttributeBettermentEveryDollar
Starting price$5/monthFree
Pricing modelsubscriptionfreemium
Free tierNoYes
Founded20082014

Identical on both: platforms (Web, iOS, Android), user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Betterment

  • Automated investing
  • Retirement planning
  • Financial advisory
  • Goal tracking
  • Investment accounts

Only in EveryDollar

  • Zero-based budgeting
  • Transaction tracking
  • Budget planning
  • Financial insights

Both cover

  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Betterment

  • Small investors starting with automated investing at no minimum balancenot EveryDollar
  • Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot EveryDollar
  • Premium advisory access for high-net-worth individuals with $100,000+ balancenot EveryDollar

EveryDollar

  • Zero based monthly budgeting using the Ramsey methodnot Betterment
  • Tracking bills and sinking funds by categorynot Betterment
  • Automatically importing bank transactions into a budget on Premiumnot Betterment

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Betterment

  • Digital automated investing charges $5 per month fee for accounts under $24,000 balance
  • Premium advisory service requires minimum balance of $100,000 in eligible investments
  • Foreign transaction fees apply to checking account (though reimbursed after the fact)
  • High-balance fee discounts only available above $1,000,000 account balance

EveryDollar

  • The free version has no bank connection, so every transaction is entered by hand
  • CSV export of budget data is Premium only
  • Spending reports and historical comparisons are Premium only
  • Premium costs $17.99 per month billed monthly, and the $6.67 headline rate requires paying $79.99 for a year up front
  • The free trial lasts 14 days and is limited to new users

Pricing, plan by plan

Betterment

$5/month

No published plan breakdown. See the Betterment review.

EveryDollar

Free
  • FreeFree
    • Manual budget entry
  • Plus$14.99/month
    • Bank sync
    • Mobile app
    • Transaction tracking

Which should you pick?

Choose Betterment if

  • You need automated investing.
  • You work on Web, iOS, Android.
  • You also want retirement planning.
Betterment review

Choose EveryDollar if

  • You need zero-based budgeting.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want transaction tracking.
EveryDollar review

Questions people ask

Is Betterment or EveryDollar better?
Neither clearly leads. Betterment starts at $5/month and EveryDollar at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Betterment or EveryDollar?
EveryDollar has a free tier; the other does not. Paid plans start at $5/month for Betterment and Free for EveryDollar.
Does Betterment or EveryDollar run on more platforms?
Betterment runs on Web, iOS, Android. EveryDollar runs on Web, IOS, Android.
Can I use EveryDollar for free?
Yes. EveryDollar has a free tier, so you can try it without paying. Betterment starts at $5/month.
What is Betterment best used for?
Betterment is most often used for small investors starting with automated investing at no minimum balance, fee-only digital wealth management for accounts under $24,000 via $5/month flat fee, premium advisory access for high-net-worth individuals with $100,000+ balance. Of those, small investors starting with automated investing at no minimum balance and fee-only digital wealth management for accounts under $24,000 via $5/month flat fee are not what EveryDollar is typically brought in for.
What can Betterment do that EveryDollar cannot?
Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. EveryDollar covers Zero-based budgeting, Transaction tracking, Budget planning, Financial insights. Both handle Bank accounts, Web support, IOS support, Android support.
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