When it comes to getting a better handle on your finances, there are few steps more fruitful than using a budget each month. Today, we’re going to look at the difference between Qube Money and the GoodBudget app.

After all, a monthly budget can help you compare how much you earn to how much you spend while ensuring you’re reducing financial waste and reaching your savings goals. A well-written budget can also leave you spending less across the board, which paves the way toward getting out of debt — once and for all. 

Fortunately, budgeting has gotten significantly easier, thanks to technology and the world wide web. Where families once had to use a written budget, save receipts and spare change, and manually track all of their purchases, an array of budgeting apps are making the process significantly easier than it’s ever been.

Interestingly, budgeting apps like Qube Money and GoodBudget mirror the “envelope budgeting” process that has worked so well for millions of Americans.

With this budgeting strategy, consumers assign every dollar they earn a job, placing cash in envelopes dedicated to various spending categories like food, transportation, and “fun.” The idea behind envelope budgeting is you can only spend the cash in your envelope. Once it’s gone, it’s gone!

Both Qube Money and GoodBudget take the envelope budgeting method online, making it easy to utilize this useful financial strategy with a mobile app. This means you don’t have to lug around physical envelopes stuffed with cash any longer.

If you’re ever curious where you spent money for the month, who spent money in each of your categories each month, or how much money you have left, all you have to do is log into your app to check. 

Both apps let you create virtual envelopes and lean on the help from technology instead, which is a good thing, right?

Qube Money vs. GoodBudget

If you know you need to start budgeting your money and you want to use an app that makes the process easier, you may be ready to compare programs like Qube Money and GoodBudget. After all, both do nearly the same thing, and both focus on the envelope budgeting method that tends to work so well to begin with. 

However, there are differences between these two programs that might help you decide which would work best for your needs. Before you sign up for Qube Money or GoodBudget, here are important factors you should consider:

Both Qube Money and GoodBudget Come with a Mobile App

We already mentioned how both Qube Money and GoodBudget lean on the envelope budgeting method to help users reduce their spending, boost their savings, and pay down debt faster. Not surprisingly, both help you track your spending and budget with the use of a mobile app. 

Both apps let you set up virtual “envelopes” that cover various components of your spending, including groceries, dining out, utility bills, rent or mortgage payments, car payments, insurance, and more. Further, both Qube Money and GoodBudget let you add extra envelopes for special savings projects and debt repayment

This means both apps can help you keep your finances organized while you pay down debt and work toward saving for your goals. Both apps also work on a wide range of devices, including iPhone and Android.

Qube Money Provides Banking Services that Comes with a Connected Debit Card

With that being said, Qube Money comes with extra support and functionality that can make the process significantly easier. This includes access to a debit card that works with the app and connects to your accounts. 

With Qube Money, you’ll start every transaction with a default balance of $0. This means before you can make a purchase in one of your spending categories like groceries or gas, you have to access your app and choose which Qube you’re ready to spend money in. Then, and only then, will your debit card open the Qube and allow you to spend money from one of your virtual envelopes.

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From there, Qube automatically keeps track of exactly what, when, and where you spent money. This isn’t only true for the main user of the Qube Money account, but also for family members connected to the account. This means you don’t have to keep track of your purchases after the fact, or any purchases a family member makes. 

If you’re curious where you spent money for the month, who spent money in each of your categories, or how much money you have left, all you have to do is log into your app to check. 

GoodBudget App Requires Manual Expense Tracking

This is where GoodBudget falls short. Where Qube Money uses a debit card to help sync your purchases to your virtual envelopes and the app, GoodBudget requires you to manually keep track of your purchases and spending. 

Keep in mind that you can sync your GoodBudget account with all the iPhones and Android phones in your family, like Qube Money. The difference is, each user has to take steps to enter spending details for each of the virtual envelopes every time a purchase is made. 

This means if you spend $180 at the grocery store and $20 on gas, you have to log into the GoodBudget app and enter these transactions after the fact. This isn’t the end of the world, but staying on top of your budget will require more work on your part over time. This is especially true if you’re someone who makes a significant number of purchases each month. 

For example, keeping track of grocery spending may not be a big deal if you’re a family who heads to the supermarket for one big trip every few weeks. If your family heads to the store for fresh food every few days, entering all the transactions could be cumbersome.

GoodBudget also falls short in this area since you have to get everyone using your budget on board with the plan. If you have a spouse or teenager who is prone to forgetting what they spent and where, for example, this could easily leave you in a situation where you’re constantly having to ask about purchases and reconcile your spending. 

Both Programs Have a Free Version

If you want to try either budgeting app, both Qube Money and GoodBudget offer a free version with limited functionality. Both free versions can be good for individual budgeters who don’t need to budget with their household and have basic spending categories to plan each month. 

For example, with the free version of Qube Money, you have access to limited Qubes and one debit card. You also have to make manual transfers.

With the free version of GoodBudget, you have limited envelopes and can only sync your budget to 1-2 devices. 

Qube Money Plans to Consider

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With a Qube Premium Plan that is best for couples, you pay $8 per month or $96 per year.

Either way, the Premium Plan includes:

  • Two users and two debit cards
  • Partner permissions
  • Unlimited qubes (or digital envelopes)
  • Bill pay 
  • Savings account access

If you’re part of a family and have more money going out in different directions each month, you might also want to consider the Qube Money Family Plan. The Family Plan costs $15 per month or $180 per year.

The Family Plan from Qube Money includes:

  • Up to 10 kid cards
  • Kid view budgeting
  • In-app chore tracking
  • Parent permissions
  • Automatic transfers

GoodBudget offers two plans for consumers — a free plan and their Plus plan. Their Plus plan is $7 per month or $60 per year.

With the Plus plan from GoodBudget, you’ll receive:

  • Unlimited envelopes
  • Unlimited accounts
  • 5 devices
  • 7 years of tracking history
  • Debt tracking 
  • Email support

GoodBudget Plans to Consider

GoodBudget offers two plans for consumers — a free plan and their Plus plan. Their Plus plan costs $7 per month or $60 per year.

With the Plus plan from GoodBudget, you’ll receive:

  • Unlimited envelopes
  • Unlimited accounts
  • 5 devices
  • 7 years of tracking history
  • Debt tracking 
  • Email support

Which Budgeting App Should You Sign Up For?

At the end of the day, using any kind of budget is better than not budgeting at all. With that being said, Qube Money or GoodBudget might be a good fit for you if you prefer to have the help of a mobile app along the way. Both of these apps can help you track your spending, reduce financial waste, and get out of debt faster while you inch closer and closer to your financial goals

Which one should you sign up for? If you want the privilege of never having to enter your purchases manually, then Qube Money is the better fit.

If you want a basic app and you want to enter your purchases manually for a slightly lower monthly cost, on the other hand, then GoodBudget is worth checking out.

Qube Money vs GoodBudget
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