Is the free version of Goodbudget as good as the one you have to pay for?

In short, no. While the free version of Goodbudget is likely to be sufficient for anybody with straightforward budgeting needs, it only offers a limited number of envelopes and linked accounts which can lead many users opting for the paid version.

Will using Goodbudget help me reduce my credit card debt?

It certainly can. While Goodbudget does not automatically sync with your bank account, you can allocate yourself an envelope that is dedicated to paying off your credit card debt, which can help you save up to tackle large sum payments.

Does envelope budgeting really work?

It has certainly worked for some folks. While budgeting styles are ultimately a matter of personal opinion, many individuals find the envelope system successful as it provides them a spending ceiling that is comfortable for them. It also provides subscribers with a tangible way of thinking about money, an all-too-elusive concept in today’s digital world.

Rachel Cribby

Rachel is a professional writer, editor, and transcriptionist from Canada with six years of experience. She holds degrees in Creative Writing and Urban Studies from Concordia University. Although finances once seemed overwhelming to her, she has made great progress in her effort to demystify them. She now considers herself “very financially literate for somebody who has trouble with numbers.” Rachel’s favourite things to budget for are fancy coffee and rare vinyl records.