SmartDollar Review
by Ramsey Solutions
SmartDollar is Ramsey Solutions' financial wellness benefit: the 7 Baby Steps plan, unlimited one-on-one coaching in English or Spanish, EveryDollar budgeting, tax filing and will preparation.
- Company size
- Small businesses, mid-market companies, enterprises
- Pricing model
- Quote only
- Deployment
- Cloud
Best for
- Employers whose workforce needs a step-by-step debt payoff and budgeting plan
- Companies of any size, from small businesses to large employers
- HR teams that want a turnkey launch and a relationship manager
Not ideal for
- Employers that want investment advice from a registered adviser
- Programs that need SECURE 2.0 emergency savings or student loan matching built in
How we evaluated SmartDollar
This review rests on 12 facts checked against SmartDollar’s official pricing pages and documentation, most recently on . We did not test the product hands-on: the score and the pros and cons use only those verified facts, as our methodology explains, and third-party ratings are quoted, never scored.
Our verdict
SmartDollar is Ramsey Solutions' financial wellness benefit built on Dave Ramsey's 7 Baby Steps: unlimited one-on-one coaching in English or Spanish, EveryDollar budgeting, free tax filing and will preparation, and a SmartCenter dashboard for HR. It is SOC 2 Type 2 compliant, goes live within a week, and is quoted as an annual fee, a utilization model or a pilot.
Strengths
One plan to follow
Built on the 7 Baby Steps: budget, a $1,000 emergency fund, debt payoff, then savings and investing.
Evidence: Personalized planning tools: Yes
Extras included
Free tax filing, will preparation and bank-connected EveryDollar budgeting at no extra cost.
Evidence: Key features: Unlimited one-on-one coaching in English or Spanish, Free tax filing and will preparation, Free bank-connected budgeting in EveryDollar, Dedicated relationship manager, No debt products, payday advances or earned wage access
SOC 2 Type 2
Independently tested over a full 12-month period, with encryption in transit and at rest and required MFA.
Evidence: SOC 2 Type II: Yes
Fast launch
Can go live within the first week after signing, with eligibility files and HRIS set up by its operations team.
Evidence: Typical implementation: Within the first week after signing
Weaknesses
No investment advice
SmartDollar teaches how investing works rather than acting as a registered investment adviser.
Evidence: Modules: 7 Baby Steps plan, Unlimited one-on-one coaching, Ask SmartDollar AI, EveryDollar budgeting, Tax filing and will preparation, SmartCenter employer dashboard
No SECURE 2.0 features
It is not a SECURE 2.0 emergency savings or student loan matching program.
Evidence: Emergency savings support: Yes
Quote-only pricing
Pricing is a custom quote by company size and goals; no amounts are published.
Evidence: Pricing model: Quote only
Price at a glance
Pricing model
Quote only
Contract term
Annual
Quick answers
- How much does SmartDollar cost?
- SmartDollar is quoted by company size and goals, and employees pay nothing. Pricing can be an Annual All Access Fee per eligible employee, a utilization-based model or a pilot.Based on Pricing model: Quote only
- What is included in SmartDollar?
- Unlimited one-on-one coaching in English or Spanish, education on budgeting, debt, insurance, real estate and investing, Ask SmartDollar AI, EveryDollar budgeting, tax filing and will preparation.Based on Modules: 7 Baby Steps plan, Unlimited one-on-one coaching, Ask SmartDollar AI, EveryDollar budgeting, Tax filing and will preparation, SmartCenter employer dashboard
- Is SmartDollar secure?
- Yes. SmartDollar is SOC 2 Type 2 compliant, tested by a third-party firm over 12 months, with data encrypted in transit and at rest and multi-factor authentication required.Based on SOC 2 Type II: Yes
- Does SmartDollar offer earned wage access?
- No. SmartDollar does not offer credit monitoring, earned wage access, payday advances or debt products; it focuses on paying off debt and building savings.Based on Key features: Unlimited one-on-one coaching in English or Spanish, Free tax filing and will preparation, Free bank-connected budgeting in EveryDollar, Dedicated relationship manager, No debt products, payday advances or earned wage access
Coverage of core financial wellness capabilities
Each core capability we evaluate in Financial Wellness, checked against SmartDollar’s own documentation. “Not verified yet” means we have not confirmed it either way, not that it is missing.
9 verified of 9 core capabilities
Financial Wellness
- One-on-one financial coaching
- Financial education
- Personalized planning tools
- Debt and student loan guidance
- Emergency savings support
- Benefits and retirement plan guidance
- Account linking
- Privacy controls
- Aggregate outcome reporting
Specifications
Pricing
- Price transparency
- Quote only
Product
- Modules
- 7 Baby Steps plan, Unlimited one-on-one coaching, Ask SmartDollar AI, EveryDollar budgeting, Tax filing and will preparation, SmartCenter employer dashboard
- Mobile apps
- iOS
- AI features
- Ask SmartDollar AI answers money questions from Ramsey financial experts
Where it ranks
- #4 of 4 scoredFinancial Wellness
- #3 of 3 scoredFinancial Wellness for Enterprises
- #2 of 2 scoredFinancial Wellness for Mid-Sized Companies
- #1 of 1 scoredFinancial Wellness for Small Business
SmartDollar alternatives
Implementation and support
- Typical implementation
- Within the first week after signing
- Support channels
- Dedicated rep
SmartDollar: frequently asked questions
What contract term does SmartDollar require?
SmartDollar is sold on annual and multi-year contracts; term and cancellation details are set with the account executive.
How fast can SmartDollar launch?
Within the first week after signing; its operations team sets up eligibility files, the HRIS integration and launch communications.
Can employers see employees’ finances in SmartDollar?
No. Employers see engagement and participation in the SmartCenter portal, while employees’ financial information stays private.
What size companies use SmartDollar?
Employers of all sizes, from small businesses to large enterprises; it serves more than 5 million team members across more than 2,000 companies.
What are the pros and cons of SmartDollar?
Strengths documented on the vendor’s own pages: one plan to follow, extras included, and SOC 2 Type 2. It is less suited to employers that want investment advice from a registered adviser and programs that need SECURE 2.0 emergency savings or student loan matching built in.
Does SmartDollar have a mobile app?
Yes. SmartDollar lists mobile apps: iOS.
Is SmartDollar good for small businesses?
SmartDollar lists small businesses among the company sizes it is built for (small businesses, mid-market companies, and enterprises). It ranks #1 of 1 in our financial wellness for small businesses.
How long does it take to implement SmartDollar?
SmartDollar states a typical implementation of within the first week after signing.
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