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Moneydance vs Goodbudget

Moneydance logo

Moneydance

Software

Cross-platform personal finance management

From
On request
Rated
-
Full reviewWebsite
Goodbudget logo

Goodbudget

Software

Digital envelope budgeting app

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Goodbudget has a free tier, so it costs nothing to try first.
  • Each has a real cost: Moneydance the free trial is limited to 100 manually entered transactions; Goodbudget free plan is capped at 10 regular envelopes, 10 more envelopes, 1 account, 2 devices and 1 year of history
  • They diverge on capability: Moneydance covers Bill tracking, Goodbudget covers Envelope budgeting.

Where they differ

Only the attributes on which Moneydance and Goodbudget actually diverge.

Attributes where Moneydance and Goodbudget differ
AttributeMoneydanceGoodbudget
Starting priceOn requestFree
Pricing modelone-timefreemium
Free tierNoYes
PlatformsWindows, Mac, Linux, IOS, AndroidWeb, IOS, Android
Founded20012012

Identical on both: user rating (Not yet rated), category (Unknown).

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 Moneydance

  • Bill tracking
  • Investment monitoring
  • Budget tracking
  • Financial forecasting
  • Investment accounts
  • OFX import
  • Windows support
  • Mac support

Only in Goodbudget

  • Envelope budgeting
  • Shared budgets
  • Receipt scanning
  • Expense tracking
  • Web support

Both cover

  • Bank accounts
  • IOS support
  • Android support

What people use each for

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

Moneydance

  • Desktop personal finance management on macOS, Windows and Linuxnot Goodbudget
  • Importing and reconciling bank and credit card transactions locallynot Goodbudget
  • Tracking investments and budgets without a cloud-only servicenot Goodbudget

Goodbudget

  • Envelope method budgetingnot Moneydance
  • Sharing a household budget across a couple's devicesnot Moneydance
  • Tracking debt payoff alongside envelopesnot Moneydance

Where each one falls short

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

Moneydance

  • The free trial is limited to 100 manually entered transactions
  • A one-time Buy Once purchase covers Moneydance 2024 plus one free upgrade to the next major release, not all future versions
  • Bank connection features are sold separately as the Moneydance Plus subscription rather than included in the one-time purchase
  • Business use requires one licence per computer, while the household licence covers personal use only

Goodbudget

  • Free plan is capped at 10 regular envelopes, 10 more envelopes, 1 account, 2 devices and 1 year of history
  • Automatic bank sync is Premium only and works with US banks only
  • Premium is limited to 5 devices and 7 years of history
  • Free plan gets community support only; email support requires Premium
  • Premium costs $10 per month or $80 per year

Pricing, plan by plan

Moneydance

On request
  • Perpetual License$59.99/month
    • Full feature set
    • Free updates

Goodbudget

Free
  • FreeFree
    • 10 envelopes
    • Basic tracking
  • Plus$5.99/month
    • Unlimited envelopes
    • Advanced reports
    • Receipt capture

Which should you pick?

Choose Moneydance if

  • You need bill tracking.
  • You work on Windows, Mac, Linux, IOS, Android.
  • You also want investment monitoring.
Moneydance review

Choose Goodbudget if

  • You need envelope budgeting.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want shared budgets.
Goodbudget review

Questions people ask

Is Moneydance or Goodbudget better?
Neither clearly leads. Moneydance starts at On request and Goodbudget at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Moneydance or Goodbudget?
Goodbudget has a free tier; the other does not. Paid plans start at On request for Moneydance and Free for Goodbudget.
Does Moneydance or Goodbudget run on more platforms?
Moneydance runs on Windows, Mac, Linux, IOS, Android. Goodbudget runs on Web, IOS, Android.
Can I use Goodbudget for free?
Yes. Goodbudget has a free tier, so you can try it without paying. Moneydance starts at On request.
What is Moneydance best used for?
Moneydance is most often used for desktop personal finance management on macos, windows and linux, importing and reconciling bank and credit card transactions locally, tracking investments and budgets without a cloud-only service. Of those, desktop personal finance management on macos, windows and linux and importing and reconciling bank and credit card transactions locally are not what Goodbudget is typically brought in for.
What can Moneydance do that Goodbudget cannot?
Moneydance covers Bill tracking, Investment monitoring, Budget tracking, Financial forecasting. Goodbudget covers Envelope budgeting, Shared budgets, Receipt scanning, Expense tracking. Both handle Bank accounts, IOS support, Android support.
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