Personal Finance · head to head
Betterment vs Expense Manager
The short version
- Only Expense Manager 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; Expense Manager the Internet Archive's capture from 23 January 2022 shows expensemanagerapp.com already redirecting to a Dan.com 'domain name is for sale' listing rather than a product page, confirming the app's original domain has been abandoned and offered for resale.
- They diverge on capability: Betterment covers Automated investing, Expense Manager covers Expense tracking.
Where they differ
Only the attributes on which Betterment and Expense Manager actually diverge.
| Attribute | Betterment | Expense Manager |
|---|---|---|
| Starting price | $5/month | Free |
| Pricing model | subscription | freemium |
| Free tier | No | Yes |
| Platforms | Web, iOS, Android | IOS, Android |
| Founded | 2008 | 2011 |
Identical on both: 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
- Bank accounts
- Investment accounts
- Web support
Only in Expense Manager
- Expense tracking
- Shared expenses
- Bill splitting
- Budgeting
- Cloud backup
Both cover
- 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 Expense Manager
- Fee-only digital wealth management for accounts under $24,000 via $5/month flat feenot Expense Manager
- Premium advisory access for high-net-worth individuals with $100,000+ balancenot Expense Manager
Expense Manager
- Budget Managementnot Betterment
- Expense Trackingnot Betterment
- Investment Trackingnot 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
Expense Manager
- The Internet Archive's capture from 23 January 2022 shows expensemanagerapp.com already redirecting to a Dan.com 'domain name is for sale' listing rather than a product page, confirming the app's original domain has been abandoned and offered for resale.
Pricing, plan by plan
Betterment
$5/monthNo published plan breakdown. See the Betterment review.
Expense Manager
Free- FreeFree
- Expense tracking
- Shared expenses
- Pro$2.99/month
- Budget tracking
- Analytics
- CSV export
Which should you pick?
Choose Betterment if
- You need automated investing.
- You work on Web, iOS, Android.
- You also want retirement planning.
Choose Expense Manager if
- You need expense tracking.
- You want to start without paying.
- You work on IOS, Android.
- You also want shared expenses.
Questions people ask
- Is Betterment or Expense Manager better?
- Neither clearly leads. Betterment starts at $5/month and Expense Manager at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Betterment or Expense Manager?
- Expense Manager has a free tier; the other does not. Paid plans start at $5/month for Betterment and Free for Expense Manager.
- Does Betterment or Expense Manager run on more platforms?
- Betterment runs on Web, iOS, Android. Expense Manager runs on IOS, Android.
- Can I use Expense Manager for free?
- Yes. Expense Manager 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 Expense Manager is typically brought in for.
- What can Betterment do that Expense Manager cannot?
- Betterment covers Automated investing, Retirement planning, Financial advisory, Goal tracking. Expense Manager covers Expense tracking, Shared expenses, Bill splitting, Budgeting. Both handle IOS support, Android support.
Related pages
More on Expense Manager
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