How Budgetwise Differs From the Competition

One of the questions I am asked most frequently is how Budgetwise differs from the countless budgeting apps that already exist. Why use it over Mint? Or YNAB? Or even just Google Sheets? It's an excellent question, especially considering it's not free - you need to make sure it's worth it!

Zero-sum budgeting, with flexibility

Apps like Mint help you see where your money was spent, not where it will be spent. Sure, you can set goals and budget by categories, but because it includes money you haven't yet received, you won't really get the full picture until after the month ends.

With zero-sum budgeting, you want to make your money work for you and put each dollar to work. The most important thing to realize with this type of system is that you only budget with the money that you have right now.

Now, zero-sum budgeting apps may already exist, but they are so rigid. Why can't you view more than one month at a time? What if I don't agree with every rule? And why in the world can't I carry over negative or positive balances if I want to? Things happen, and I shouldn't need to search far and wide to figure out how to deal with that.

Debt is actually treated like debt

A lot of the other budgeting apps treat credit cards and loans like just another expense, totally ignoring some of the best methods for tackling debt. Worse still, some of these apps force you to budget for the amount you paid on a credit card.

If you are trying to get rid of debt and paid $200 towards a credit card, you probably don't want the $200 to be considered "money to budget" once it frees up your balance - it will encourage you to spend it again.

On the same subject, why isn't there more of an emphasis on debt payment plans (like the Debt Avalance or Debt Snowball methods), or really any calculations regarding each debts' interest rate, % of balance available, and payoff date estimates?

Annual subscriptions aren't for everyone

Sometimes a user may not have enough to cover an entire year's worth of software fees, or they may not want to. Monthly subscriptions make perfect sense for users who don't yet know what the future looks like, or don't want to commit to such a long period of time.

Offering a low monthly price point should be the norm for an app that's focused on helping the user save money, not spend it.