Get a joint bank account, They say.
It will be fine, They say.
So you do it.
But then you find that your significant other doesn’t care as much about saving as you do. Your partner, on the other hand, cannot imagine why you consider a new outfit a “need” when you have a closet full of clothes.
Before the tense money discussions turn into fierce arguments, you and your partner need to get on the same page about your mutual finances … or better yet, the same app.
10 of the best budgeting apps for couples
Here they are in alphabetical order.
1. EveryDollar
Costs: Free or Premium version for $ 129.99 per year
EveryDollar was created by financial guru Dave Ramsey. If you and your partner are fans of Ramsey’s preferred method of money management, this is the Zero-based budgetThis app is for you.
That doesn’t mean you have to give up yours 50/30/20 budget if that’s what you prefer. You can adapt the budget template to suit your needs.
This budgeting app is known for providing a great user experience with no annoying ads. If you choose the premium version Ramsey Plus) you get an automatic synchronization with your bank account – which the free version does not – and access to the Financial Peace University by Ramsey.
2. Good budget
Costs: Free or Premium version for $ 60 annually or $ 7 monthly
Good budget is for couples who like that Cash handling system but are prepared to no longer take cash with you everywhere.
This app uses virtual envelopes for your different expense categories. If you use the free version, you will get a total of 20 envelopes. The paid version allows you unlimited envelopes.
Another difference between the two versions: you can only use the app with the free version on two devices. With the paid version, you can use up to five devices.
Both versions have debt tracking functionality so you and your other half can see your collective progress on credit card and student loan repayments.
Goodbudget has the convenience of having the convenience of manually updating your envelopes when making purchases or uploading your transaction history from your bank. The app does not sync with bank accounts to keep track of spending in real time.
3. Honeydue
Costs: Free
Honeydue helps you and your partner stay on the same page when it comes to money. In addition to tracking bank account transaction spending and savings, you can link credit and investment accounts to jointly manage debt and save for the future.
As the name suggests, Honeydue has a feature that reminds you and your honey when bills are due. You can also chat with your partner about everything financial directly in the app.
4. Honeyfi
Costs: $ 60 per year
Honeyfi Syncs your bank accounts and creates a budget based on your previous spending. However, as you try to increase your savings and cut down on your Uber meals, you can adjust your budget to suit your needs.
With Honeyfi, you can send in-app communications to your partner to promote convos of money. You can annoy them about spending too much at happy hour or asking if they consumed detergent during their finish run. However, if you want to keep some expenses incognito, Honeyfi can help you limit what your other half can see.
The couples budgeting app can help you meet your savings goals, such as: B. Set aside money for a wedding. You can set savings rules and authorize Honeyfi to withdraw a certain percentage or a set amount from your checking accounts every month.
5. Mint from Intuit
Costs: Free
mint has been around for over a decade and is a very popular app. You and your other half can work on budget together by syncing your bank accounts and creating as many expense categories as you want.
Mint sends you reminders of upcoming bills so you and your partner can pay everything on time. You will also be notified when you are low on money.
One downside to this app, however, is that it feels a bit cluttered with ads and offers – a common criticism of free apps.
6. Envelopes
Costs: Tiered plans are priced at $ 5.97 per month, $ 9.97 per month, and $ 19.97 per month
Mvelopes is another budgeting app that brings the cash handling system into the digital world. They link your bank account and create virtual envelopes based on how much you want to spend in different categories.
If you and your partner are on a strict grocery budget or have to limit your entertainment expenses, it is easy to see how much you have left to spend for the month in each budget category.
With the Mvelopes app you can sign up for three different plans. The cheapest, Mvelopes BasicThis option allows you to set up your handling budget, monitor balance, get interactive reports, and access live chat support.
Mvelopes Premier Adds perks like debt reduction tools and access to the Mvelopes Learning Center. The better Mvelopes Plus Includes a personalized financial plan and quarterly meetings with a money coach.
7. Personal capital
Costs: Free
Personal capital is for the couple who are serious about their future together – especially their financial future.
In addition to monitoring your daily expenses, the app is also linked to your 401 (k) s and IRAs so you can see how you approach retirement. It even offers a free retirement planner tool.
Personal capital also takes into account financial information such as your mortgage and other loans to give you a complete picture of your net worth.
Although the app is free, Personal Capital makes its money off of wealth management services like meetings with their financial advisors where you are billed for a percentage of your portfolio.
8. PocketGuard
Costs: Free or Premium version for $ 34.99 annually or $ 4.99 monthly
PocketGuard Synchronizes your bank accounts, credit cards, loans, and investments so you and your partner can keep track of your mutual finances. It automatically creates your budget based on your income, recurring bills, and financial goals that you have set.
The app has an In My Pocket feature that lets you know how much to spend on date night after you’ve covered household bills and other obligations. PocketGuard also searches your expenses to identify savings and ways to improve your finances.
The premium version – PocketGuard Plus – includes additional features such as user-defined spending categories and options for tracking cash purchases.
9. You need a budget
Costs: $ 84 annually or $ 11.99 monthly
You need a budget, or YNAB, is for couples who want to stay on top of every dollar they make and make sure the money is being used well.
This app is set up around the Zero-based budgeting method and is designed to help you and your significant other save money and reduce debt. YNAB identifies areas of overspending and gives you suggestions for adjustment. It also has recommendations for your budget based on your goals.
You can access this budgeting tool from almost any device – including your Apple Watch or Amazon Echo. With YNAB, you never have an excuse not to increase your budget.
10. Zeta
Costs: Free
Zeta is touted as a budgeting app specifically for couples. It is set up so that you can manage shared and individual accounts together. However, you are in control of what information you want your partner to see.
You can sync your bank accounts or update your budget manually. If you want to leave your significant other a note about a questionable transaction, you can do so in the app. Zeta also has a split transaction feature so you can get your other half to pay you back the household bills.
When it comes to planning a vacation or saving for a home, Zeta has a money goals section to help you stay on track.
What should be considered when choosing the budgeting app for couples?
We have given you a number of options to choose from. Now is the time to find out what works best for you and your significant other.
Think about how you are going to use your budgeting app. Would you like something that syncs with your bank account to keep track of spending in real time? Or, you and your partner have a regular one Household budget meeting Where will you manually record transactions in the app over a few drinks?
Are you okay with ads or do you prefer a platform that limits those distractions?
Cost is another factor. Free is a great price, but some people feel more motivated to actually use what they have downloaded when they spend the money on it.
If you choose a budgeting app that charges a monthly fee, try it out with a free trial first. If not, give it a 5 star rating. Abort the test and try something else.
And if you’re Team Apple and your sweetheart is Team Android, don’t sweat. All of the above options are compatible with both operating systems.
Additional reports from former employee Jen Smith have been included in this article. Nicole Dow is a senior writer at The Penny Hoarder.
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This article originally appeared on www.thepennyhoarder.com
