Buckets Review: Variable Income Budgeting

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Bucket is a free budgeting tool for users who want to be closely involved in the budgeting process.

It is available as a desktop download and as an Android app on the Google Play Store. Unfortunately, it is not yet available in the Apple App Store for iOS devices.

Buckets helps you prioritize spending, track savings, and build a savings buffer even when money is tight. Here's what you need to know about this budgeting tool

• Designed to make budgeting easier with variable income and expenses.
• The unique “transfer” feature allows you to save money on big upcoming expenses.
• Available as a desktop app or on the Google Play Store (Android).
• Ability to manually track expenses, import transactions from a bank website (CSV), or connect directly to a website.

What are buckets?

Buckets is budgeting software that helps you manage your savings goals, spending and investments, even if your income is irregular. What started as a spreadsheet on the founder's computer has slowly but steadily evolved into a highly customizable budgeting tool. The software is a passion project and therefore does not have huge financial support. Despite its modest operations team, the tool is now available everywhere except the App Store (it is currently in beta testing).

What does it offer?

Although Buckets is a budgeting tool, it is designed to simplify financial analysis. If you have enough data, you might get drawn into the various charts available in the software.

Choose your transaction tracking method

Any great budgeting app will allow you to track your spending. Buckets gives you four ways to track your income and expenses: manually, via CSV file import, with SimpleFin, or by recording a script (called a macro). Manual tracking requires you to update the app every time you make a purchase – sometimes multiple times a day.

Second, you can import transactions from a CSV file from your bank account. I tested this with a checking account and a credit card and it worked well, but I can imagine it gets messy if you have multiple accounts.

Third, you can pay to use SimpleFin, which gives you read-only access to your accounts. SimpleFin is a technology developed and maintained by the founder of Buckets. Lastly, you can put on your developer hat and record a script (called a macro) that connects to your various bank accounts and retrieves the transactions.

The final option is one that other tools don't offer. However, security is questionable all around. It is not clear how your credentials and personal information will be protected when you use the script option.

Extended analogy makes budgets make sense

Buckets uses a bucket analogy to help you understand the purpose of your money. Their income is rain, which is collected in a large bucket. Money is poured from the larger bucket into smaller buckets (expenses). Each month you will “make it rain,” meaning you will fill your buckets with expenses. If there is money left in a spending basket from the previous month, less money is required to top up next month. This allows you to adjust to the natural ebb and flow of spending each month.

Budgeting for variable income

The Make It Rain feature works well for people with different incomes. In a month when you have extra money, you can use some of your buckets, e.g. B. Savings bucket, “overfill”. If you make less, you can focus on meeting needs, even if that means dipping into savings. Buckets cannot solve the problem of low revenue. But it can show you when you're about to run out of money. This can help you limit your spending while looking for ways to make extra money quickly.

Pay once, own forever

Buckets gives you an unlimited free trial, but if you pay $64 you can share a single license across multiple devices. The $64 is a one-time fee that gives you ongoing access as long as Buckets remains operational.

Are there any fees?

You can opt for an unlimited free trial while testing Buckets. However, you may want to pay the $64 license fee at some point. Payment allows you to share a license (and data) between devices. It's also a great way to fund further development of the Buckets apps.

How do buckets compare?

Buckets is similar to budgeting apps such as You need a budget (YNAB) or Every dollar
in that it aims to do so
those who want to have a “hands-on” experience with their money. Alternatives like Empower or Kubera allow you to do slightly more passive budgeting and financial tracking.

Buckets is a little uglier than YNAB and a little clunkier than YNAB and EveryDollar. However, compared to YNAB, which charges monthly or annual fees, it's an amazing bargain. If you have a budget for your home computer and use an Android device, Buckets is a fantastic tool. iPhone users may want to forego Buckets since it isn't available on the App Store yet.

Headers
	Free or $64 (one-time) for use on multiple devices	$14.99 monthly $99 annually	$17.99 monthly $79.99 annually
		Web, iOS, Android, Alexa, iPad, Apple Watch
	Unlimited free trial (no expiry)
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How do I open a Buckets account?

The great thing about Buckets is that you don't need an account to use it. You can download the software on any device and use it immediately. You only have to pay if you want a license key. The license key allows you to sync your account between multiple devices. You can pay for a license with PayPal or credit card.

Once you have the license key, you can paste it into a field within the app or software. Once this is done, your account will automatically sync between devices.

Is it safe and secure?

Overall, Buckets is a safe application. All your data is stored locally and you need a long license key to see what's included in the app. This makes it difficult for hackers to get to your data.

If you choose to connect to your accounts, the integration (SimpleFin) is a secure read-only integration. The connection between the app and your account is very secure.

However, I would advise against recording macros to connect to your bank accounts as this is an option offered to users. While the macro is recorded locally (i.e. on your computer or phone), it's not clear how your username and password are stored. If someone gains control of your device, they may be able to easily log into your accounts and steal or transfer money.

How do I contact Buckets?

If you download Buckets, you can use the Chat with Matt feature in the app. This way you can send a message to Buckets founder Matt. You can also email the company at hello@budgetwithbuckets.com. Buckets does not list physical addresses or phone numbers.

Is it worth it?

At just $64, Buckets is an interesting choice for “budget nerds.” Use the free trial for a few weeks to see if you like it. If you stick with Buckets for several weeks, you can decide whether you want to use the app long-term.

To get value from buckets, you need to use the app continuously. It doesn't allow you to set a budget that's done right away. It's an incredible tool for people with fluctuating income and expenses. However, it's not worth paying for the app if you don't use it.

Check out Buckets here >>

Functions of the buckets

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