Gone are the days when humans could earn their own living. Today, both men and women are sharing financial responsibilities and making progress in these difficult economic times. This is where financial planning and budgeting comes into play. To make the right decisions, you need to know where all that money is coming from, where it is going, and how to better manage it to meet your life goals. Because if you’re doing other things together, why not budget together? Plus, it’s a lot easier than opening a joint account, which can be tricky.
While there are many budgeting apps out there to help you with this, we will focus on budget apps for couples to help manage their personal finances. Because like anything else, tango also requires two!
1. Splitwise
Different couples have different needs and goals. For this reason, a simple app called Splitwise comes first. This is for couples who are new to their relationship and want to split their bill evenly regardless of the occasion. A popular app that even a group of friends can use to split their bill evenly.
Sign in to Google and you can then use it for vacations, rentals, dinners, shopping, and any other event you think the bill should be splitting. It will track the balance so you know who owes how much!
Sign in to Google and you can then use it for vacations, rentals, dinners, shopping, and any other event you think the bill should be splitting. It will track the balance so you know who owes how much!
Splitwise is available on both Android and iOS platforms, making it easier to manage accounts and keep everything in sync.
2. Honeydue
Honeydue is for couples looking for a complete budgeting app to manage their personal finances. This will be linked to all your bank accounts to withdraw balances and orders. You can then create categories and set a monthly budget to see how you are performing.
Enter important due dates so you never forget to pay your bills on time. What I find funny is using emojis! Every time your partner spends something, you can approve or disapprove of using one of the six emojis. Give him a thumbs up for a new carpet.
Because a lot of important data is exchanged, Honeydue encrypts all data and offers multi-factor authentication for security.
Honeydue is free and available for both Android and iOS users, so you can find both on the same page.
When you live with your partner, one of the most common financial activities you will do together is grocery shopping. This is a must. What’s wrong with not knowing what your partner is spending?
3. Grocery
There are times when you buy a certain item on your way home and your partner buys the same thing! This is where food apps come in.
This is a simple little free app that you can use to create user accounts and shopping lists. You can then share these lists with each other and review items as you purchase. Everything stays in sync.
There is direct support for Siri which makes adding/removing items easy. You can add local stores to sync shopping data. The app is free to use, but only available on the iOS platform for now.
Same name, different function. Well, not exactly, but listen to me. Like Honeydue, Honeyfi lets you add all of your bank accounts and credit cards but, big, but, it will automatically build up your budget. Why?
Because we keep putting off this important task until it’s too late. Accept it, you are lazy and boring and never budgeted in your life! The total amount of the budget is allocated to various categories according to the algorithm.
Sharing is caring, but sometimes it can be embarrassing or even cause problems. Having said that, there is an option to hide any transactions that your significant other doesn’t want to see. Like a surprise birthday party? What do you think about hiding?
4. Honeyfi
As with Honeydue, you both have separate accounts with all the data you can see on one screen. That means not only more transparency, but also more accountability.
Honeyfi is a free budget app for couples to manage their personal finances and is ad supported. It is available on both Android and iOS platforms, and the developer claims to have built-in bank-level security.
5. DollarBird
Dollarbird takes a slightly different, yet budget-friendly, approach for couples to manage their personal finances. It comes with a calendar based interface where you just need to add events for every transaction that occurs on that day.
Transactions are neatly categorized and automated. In the end, Dollarbird calculates the balance so you know who has spent what and how much and how much is left.
The advantage of a calendar-based layout is that it gives you an at-a-glance view of your financial situation. Assist with future budget planning. You can share the same calendar with other family members. You can also create multiple calendars, except for annual subscriptions.
Dollarbird is free to download and use on Android and iOS. It comes with in-app purchases but no ads.
This is one of those old sayings that never goes out of style. Especially in these days when it’s so easy to get carried away and spend money on material things you don’t need, want, or even understand.
If you want to be rich you have to invest, but to invest you have to save first and to save you have to budget first. Try one of these couple budget apps to manage your personal finances.
