Business and Finance

Budget apps for couples: ‘It’s 100% truth—no hiding’

It’s the subsequent neatest thing to a romantic dinner: Light a number of candles, pour some wine — and obtain a finances app.

In reality, there are particular finances apps for {couples} that aid you study extra about one another’s bills, money owed and investments. These instruments track your spending so that you and your associate can reference the identical (goal) information.

“It’s 100% truth — no hiding,” says Denver-based licensed monetary planner Addie McHale. “Otherwise, you’re in this land of financial vagueness.”

So, relatively than suspecting you’ve been spending an excessive amount of on takeout or that one among you is a bit of click-happy with Amazon purchases, you’ll be able to seek the advice of actual numbers. The two of you’ll be able to see precisely how a lot every is spending on what, in addition to how these bills change over time and slot in with the remainder of your monetary image.

If this feels like one thing you and your associate may benefit from, take into account trying out these apps.

3 finances apps for {couples}

Honeydue, Honeyfi and Zeta Money Manager are designed particularly for {couples} and can be found within the iOS App Store and Google
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Play. They’re additionally comparable within the following methods:

  • Both companions can sync their monetary accounts and see one another’s transactions and balances. But every of those apps additionally permits customers to maintain sure funds non-public.

  • Users can sync their checking and financial savings accounts, in addition to bank cards, loans and investments.

  • Users can monitor payments and get reminders of upcoming due dates.

  • The apps present a customizable family finances or enable customers to set limits for particular spending classes.


  • Users can talk with one another inside the app ultimately, like commenting on an expense.

Here’s what makes every app stand out by itself and the way it differs from the others:

1. Honeydue

For starters, this app is free. (Honeydue asks you to “tip” them a couple of bucks month-to-month, however you’ll be able to select not to take action.) In the App Store and Google Play, Honeydue has probably the most opinions and highest scores of the three apps, as of this writing. Most opinions are constructive, however some customers level out that the app could possibly be extra streamlined and faster to point out up to date account balances. Unlike Honeyfi and Zeta, Honeydue doesn’t present a approach for {couples} to collaborate on financial savings objectives, but it surely does provide a joint checking account.

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2. Honeyfi

This app affords a free 30-day trial. If you select to keep it up, you’ll be able to pay $60 per couple for an annual subscription ($5 a month) or enroll for a month-to-month subscription of $9.99 a month. In the App Store and Google Play, Honeyfi had just a few hundred opinions, however its scores have been practically as excessive as Honeydue’s. Honeyfi has probably the most sturdy objectives characteristic among the many three apps. Users can set guidelines specifying a sure sum of money to be commonly transferred from a checking account to a separate FDIC-insured account. Honeydue and Zeta suggest linking accounts to get probably the most from the apps, however they help you skip that step and manually enter transactions in case you’d desire.

3. Zeta Money Manager

Among the three apps, Zeta has the fewest opinions and lowest scores, with some customers (largely in Google Play) noting that the app has glitches. That stated, Zeta is free and affords options just like Honeydue and Honeyfi. Couples who use Zeta also can use its IOUs to trace and break up bills and pay one another again by way of Venmo or PayPal
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There are different apps that aren’t designed for {couples} however might nonetheless work for you and your associate. For instance, Goodbudget is an app primarily based on the envelope system that enables family budgets to be synced throughout a number of units. There are additionally methods to share a finances within the You Need a Budget app. Learn about these and different instruments in our best budget apps listing.

How to finances together with your associate

No matter which app you select — or in case you go the low-tech budget spreadsheet route as an alternative — speaking about cash with a cherished one can really feel fairly loaded. When exploring one another’s funds in instruments and dialog, licensed monetary therapist Ed Coambs stresses the significance of monetary empathy. Aim to raised perceive one another, relatively than establish if choices are proper or unsuitable.

Part of being empathetic is remembering that you just and your associate have had a unique set of monetary experiences, says Coambs, who’s additionally a wedding and household therapist primarily based in Charlotte, North Carolina. Even in case you two have comparable monetary backgrounds, he says, “there are still going to be subtle micro-differences in what you prioritize or value.”


Related: 3 money mistakes couples make and how to avoid them

Ideally, you and your associate will get to the purpose the place you will get “financially naked,” as Coambs places it. That means nobody is apprehensive about criticism or judgment about their cash and what they do with it, he says, and there’s a “shared sense of future direction around finances.”

Achieving that sort of transparency is a large endeavor for many {couples}, Coambs says. Before utilizing a shared finances app and disclosing your funds, comply with a no-judgment coverage. If it seems that you just or your associate can’t fairly swing that, perhaps it’s not the time to finances collectively.

At that time, Coambs says chances are you’ll wish to work on “building the relational skills that are needed to feel safe and secure with each other.” That might imply engaged on communication, listening and empathy or addressing previous traumas.

How to get probably the most from the app

If you and your associate really feel OK forging forward on a shared finances app, McHale suggests spending the primary month or so connecting your accounts, studying find out how to use the app and letting it monitor your cash. After that, meet together with your associate and overview the previous month’s information.

“Awareness is the gateway to change and is at least half of the battle,” says McHale, who’s additionally the founding father of the monetary companies enterprise Moneyfull. With this body of reference, you’ll be able to attempt to spend $50 much less on takeout subsequent month, for instance.

Also see: Men: Here’s how to help the women in your life get ahead at work

These sorts of adjustments aren’t for the only real goal of depriving you of late-night pizza fixes. They may help you and your associate be extra intentional with spending and put your cash towards stuff you really need. For instance, in case you two wish to purchase a home this 12 months, perhaps that $50 a month that you just save on takeout can go towards a down fee.

“The whole point of the budgeting app is to align your spending with your priorities,” McHale says. “That’s how you experience the joy of money.”

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Laura McMullen writes for NerdWallet. Email: [email protected] Twitter: @lauraemcmullen.

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