Please ensure Javascript is enabled for purposes of website accessibility

This device is too small

If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.

Skip to main content

Goodbudget Review: A Simple Digital Budgeting App

Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Bottom line: Goodbudget is excellent for beginners who want to learn how to budget their money with a simple app.

GoodBudget
Best budgeting app for simplicityGoodBudget

Full Goodbudget review

Pros

  • Affordable
  • Intuitive
  • Supports multiple devices
  • Provides reports
  • Supports multiple users
  • Can import bank transaction files

Cons

  • Limited free plan
  • Requires manual logging
  • Takes time to use
  • Limited features

At a glance

iOS app rating 4.7/5 stars
Android app rating 4.4/5 stars
Cost Has a free and a paid plan. The paid version is $7/month or $60/year.

What is Goodbudget and how does it work?

Goodbudget is a simple budgeting app that works as a digital envelope system.

The envelope system divides your income into specific spending categories -- like rent, groceries, dining expenses, household purchases, health costs, and gas expenses. This kind of system ensures that you don't spend more than you make, and stay on budget for each category of spending. For many users, this system helps limit impulse buying.

Within Goodbudget, you label each of your digital envelopes by category, and then set a maximum amount you can spend. The app includes envelopes for regular expenses and expenses that occur less frequently, like property taxes. You can also use envelopes to track your saving goals. Goodbudget shows your progress with colorful graphs.

Unlike some other budgeting apps, Goodbudget requires you to manually input each transaction, including money you bring in and money you spend. There is no way to sync your bank account to the app for automatic updates. That means you have to update the app frequently.

This is a great app for anyone who wants to better manage and track spending. Since the company offers a free plan, it's a good choice for people who don't want to pay for an app. Our Goodbudget review will help you decide if this is the right app for you.

Top perks

It's affordable

Goodbudget has a free plan. While it does have limited capabilities, the free version lets you test the app's features without having to spend any money. If you want to invest in the paid plan, it's still more affordable when compared to many other budgeting apps.

It's intuitive

This budgeting app doesn't take a long time to figure out, which is not the case for a lot of its competitors. Goodbudget is intuitive and straightforward, so if you want to dive in right away, this is a good app for you.

Supports multiple devices

Goodbudget works on Android and iOS devices. The app seamlessly syncs across platforms, making it easy to stay on top of your budget while you're on the go. That said, the free plan only supports two devices, while the paid plan allows up to five.

Provides reports

If you like reports and graphs, you're probably going to enjoy Goodbudget. Its reports give you a clear view of how you're spending your money and your progress toward your goals. The reports can also serve as motivation to stay on track toward those goals.

Supports multiple users

Goodbudget's paid plan supports multiple users, making it easier to budget as a couple or as a household. When one partner spends money and marks it in the app, the changes sync with the other partner's device.

Lets you import bank transaction files

Though you can't sync your bank account to the app for automatic updates, you can upload bank transaction files. If you also manually add transactions, this is an excellent way to avoid mistakes, catch all your transactions, and ensure accurate numbers.

What could be improved

Limited free plan

While Goodbudget does offer a free version of their app, it has limitations that may require a paid subscription for most people. We dive into more detail further below on the features offered in the free and paid version.

You must manually log expenses

Unlike competitor apps, Goodbudget doesn't provide automatic syncing for an up-to-date view of your bank accounts. You have to manually track every purchase. If you easily forget, your app may not be an accurate representation of your financial situation.

It takes time to use

Although this is a simple app, it takes time and effort to manually input expenses and income. Some other apps do this automatically.

Few extra features

If you're looking for a personal finance app with a lot of features, this isn't it. You don't get credit score monitoring, suggestions for financial products based on your needs, or a view of your net worth. It's a simple budgeting tool and little more.

Alternatives to consider

If you want a free budgeting app with more features: Mint does more than Goodbudget. You can view your spending, keep track of your savings goals, and get a real-time look at your accounts. You can sync your financial accounts, making for less manual work. Mint also suggests financial products that may work for you.

If you want an automated app: Consider You Need a Budget. This app has a monthly or yearly fee after the trial period, but it is feature-packed and uses a method similar to the envelope method, which aims to put every dollar to good use. You Need a Budget also offers some excellent personal finance resources to help you take budgeting and money management skills to the next level.

What are the costs?

Goodbudget offers a free version of the app. Depending on your budgeting needs, a free plan may not work for you. If you want more functionality and need more envelopes, the paid plan is a must. If you want more features, you need a subscription for $7 per month or $60 per year. Here's a breakdown comparing the free plan to the paid membership:

Feature Free Paid
Total envelopes 10 regular envelopes and 10 extra envelopes Unlimited
Financial accounts 1 Unlimited
Stores account history 1 year 7 years
Devices 2 Unlimited
Support Community support Email support

This app is right for:

Goodbudget is perfect for beginners with the time and desire to learn to budget effectively. It's a simple app with nice features, but isn't unnecessarily complex or confusing.

About the Author