Dollarbird Review – Can It Really Help With Your Financial Management?
Dollarbird allows users to master and take control of all the complicated finance stuff that people generally always avoid dabbling into. If you often worry about going over the limit or exceeding your budget, this budgeting app helps you maintain a balance.
So, let’s dive into this full Dollarbird review to find out if it can really make managing your expenditures easy!
Dollarbird is a budgeting app with a difference. Many budgeting apps work by tracking your transactions in different categories. That is, it groups your spending based on bills and payments that fit into mapped out categories such as Utilities, Groceries, Subscriptions.
With Dollarbird, though, it’s different. Dollarbird helps you keep track of your spending daily, based on a calendar system of tracking. This platform is designed for real-life spending scenarios, and it allows users to keep track of every bit of money they spend using the calendar tracker.
With some AI help, you can add your past, future, and recurring transactions and group them into categories if necessary. Dollarbird is built to track collaborative expenditures and is useful for where there is a shared budget between family members or team members in a company.
Dollarbird is ideal for you if you share a joint bank account with your spouse or members of your family. If you would like to keep track of how much money every member of the home spends daily or over a period of months or weeks, you can do that easily with this app. It helps to manage money matters transparently and clear enough for everyone to see.
This is another thing that makes Dollarbird useful for teams in companies who have access to joint expenses. With everyone logging their daily expenses, balance calculation and cash flow become seamless, absolving anyone of any sticky money situation.
The Dollarbird app also allows you to keep track of your finances on mobile or the web version, whichever products work for you. You can also mix things up by using either version alternatively. To get the app’s mobile version, it is available for download on the app store for your device—Google Play Store for Android devices and the App Store for iOS devices.
How to Use Dollarbird
The most essential concept that Dollarbird pushes is the calendar system of tracking. To enjoy the features this app offers, keep in mind that this calendar format of tracking expenses and budgets is different from what you’re used to. Let’s explore how Dollarbird works.
Download the app from your app store and install it on your device.
Input the amount of money you have in your bank account and other sources through which you generate income. Next, set the amount you typically earn per month; this could be your salary or fixed budget or the allowance you receive monthly.
Input the likely expenses you would spend per month, be sure to include recurrent transactions, so you don’t need to input them any time the transaction occurs. Here, you can already project your cash flow for the month.
Now that you’re all set up, it remains up to you to go through with staying on track with your budget. It is important to note here that Dollabird runs on a mix of manual and AI processes. So, for every transaction you make, you have to return to the app to log the accurate amounts. This is all part of the overall goal to develop a habit of monitoring all your transactions.
You also need to confirm that recurring transactions that you had set earlier actually happened to maintain accuracy during calculations. Also, if there are variations with the amount spent per transaction and you have previously logged a different amount for it, you ought to modify per transaction.
While logging occurs manually, the AI feature helps you sort your expenses category by category on the calendar. If it logs anything incorrectly, all you have to do is switch it to the appropriate category.
You will find out more about how the calendar feature comes in shortly.
Dollarbird is a free app; you can sign up for free with a functional email address. However, to access the full features and all the app has to offer, you need to hop on any plan of your choice. It has different pricing offers designed to fit individual pockets, companies, and families, so there’s something for everyone regardless of their income. We will review each one below.
The free plan costs $0 and allows a user access to only one calendar, and allows the user to upgrade to any of the paid versions whenever you like. There’s no running out of time on this pricing option, unlike other budgeting products that cut off your membership after a few trial weeks.
The free version is a good way to determine if you like the budgeting app enough to subscribe to the paid version of the app after giving the features a run.
Dollarbird is big on collaborative money tracking and provides a solution to this with the Pro Plan. The Pro version offers users two categories: Pro and Pro Premium. Both categories give you 20 calendars for tracking. The regular Pro Plan allows only 3 users at $4.99 per month or $39.99 yearly.
Pro Premium allows unlimited calendars and unlimited members for $6.99 monthly and $54.99 per year. The Pro Plan is best suited for freelancers, families, teams, and partners.
This one is for companies who need the budget tracker for company processes. This subscription offers you the best tracking option for companies with much more money matters to attend to, unlike the Pro version. This version is unique as Dollarbird provides pricing only when the company contacts them. This way, they create a pricing range based on the size of your company, the amount of cash flow that comes in, and the number of employees on your team.
Regardless of Dollarbird’s review of your company size, the bottom line remains that it still offers you unlimited calendars and unlimited team members.
Setting up Dollarbird on any of these pricing options is not much trouble, even for your team. With an email address, everyone can be added up easily.
Dollarbird Budgeting App Features
Many user reviews have pointed out Dollarbird’s features as one of the main things that make the app’s user interface easy to operate. The app has been featured in reviews on The Guardian, Life Hacker, TechCrunch, and other top organizations.
Logging in transactions on the app is as seamless as filling in events into your daily journal. On both mobile and web, the features stand out as unique. See our in-depth review below.
This is the feature that makes the Dollarbird app stand out from other personal finance apps and tools in the playing field. This feature shows you on a clear calendar format how you spend your money daily and over the months. Every day, the balance on your app should tally with the amount in your bank account.
Every bit of money spent should reflect in your app. You can see any transaction (past, present, and future) on the dashboard as long as you have it logged. It gives you simple details of your spending per category and even draws comparisons based on the average of past months.
This feature allows you to predict your likely income at the end of the month, although with each transaction logged, this amount is adjusted.
Expense Forecast Feature
Dollarbird allows you to see your projected balance with the expense forecast feature. Here, tapping on a date in the future allows you to see a projected balance based on the transactions you have confirmed up to date and the unconfirmed ones in between.
You can export your data whenever you like on this budgeting platform. This is useful for teams who would like to give reports on their expenses and transactions per month. Your data is sent to your email as a CSV. file.
The paid version allows more than 3 users to jointly collaborate on tracking finances. Even if they aren’t members of Dollarbird, you can still add your team members to track expenses on the platform.
Dollarbird Uses for Finance Management
- Simple Tracking: If you’re looking for a tool that helps you take control of your day-to-day expenses simply and visually, this is the one you need. It eliminated complex charts and graphs that you may not be able to figure out.
- Easy Planning: With the forecast feature, you and your partner can easily plan for the future since you can make informed decisions about how much income you would have at a projected date.
- Quick Report Compilation: Teams and businesses can quickly and easily download the transactions and expenses carried out for company reviews or compiling reports.
There are other alternatives to Dollarbird that also allow you to track your expenses.
- PocketGuard: This is a budgeting tool that helps you track your spending automatedly and stay within your budget limits. It also has a free and paid version with the premium plan, starting at $4.99/month.
- Fudget: This is another budgeting platform for tracking and budgeting and is free to use. Fudget takes away the complications of charts and categories. All you need to do is create simple lists of incomings & expenses and keep track of the balance.
Is Dollarbird Worth the Money?
Basically, this platform gives you a bird’s eye layout of all your purchases and transactions over a period. It makes the information more visual for you, and so if you would prefer to view your purchases in a visual yet simple and clear platform, then this is for you. It’s also great for team collaborations.
However, if you need an app that provides the opportunity to create proper budgets and set a cap on special categories, you may consider other budgeting apps. Also, you do not need to upgrade to the paid plan if you’re using the app for personal finance management only.
- You don’t need to input your bank account information to be able to use the app. This eliminates any risks that come with filling in information about your bank accounts online.
- Pricing is fair and easily affordable by most. The free version also makes it great for those who can’t afford it.
- It’s a great tool to help small businesses monitor their finances for less cost.
- Dollarbird is the only budgeting app that doesn’t allow you to set a cap on your spending categories. You can’t fix a particular amount to spend for any of the categories on your calendar.
- You need an internet connection to fill in new information
- It doesn’t have a notifications or alerts system to remind you to track as you spend.
- You fill in transactions manually.