As a couple, taking charge of your finances should be one of your most important goals. Almost everything needed to build and sustain a family requires money, and when you fail to handle your income appropriately, there will be significant problems. Using a budgeting app to organize your monthly spendings will enable you to save money, invest, and prevent unnecessary debt.
Thanks to the innovation in Fintech, we now have some of the best budgeting apps for couples. You and your partner no longer need to experience difficulty in planning and organizing your expenses each month. Using a budgeting app makes everything easier. The whole process is automated, and you don’t need to lift a finger.
What Is A Budgeting App?
A budgeting app is a mobile application software developed by Fintech experts to help people budget money easily. Budgeting apps are very instrumental to your finances, as they provide a range of features that can help you save money, curb your spending, and reach your financial goals faster while tracking your progress.
What Is The Best Budget App For Couples?
The best budgeting app for couples provides a comprehensive view of their finances and monthly expenses. Honeydue is currently regarded as the best couples budget app, especially in the United States. Millions of couples worldwide use this app, and there’s almost no bad review about its performance.
Benefits Of Using A Budgeting App
In case you are still skeptical about using a budgeting app with your partner, here are some of the main benefits that come with budgeting apps:
- Easy Budgeting
One of the common budgeting myths that deter people from building a budget is the belief that budgeting is difficult or complex. Truth be told, budgeting is not rocket science, and it’s as simple as laying your bed. With a good budgeting app, you can outline your basic expenses in different categories, and allot a certain amount of money to each category.
A budgeting app makes the who process seamless, relieving you of any stress that comes with tracking your spending and saving money.
- Automatic Alerts
There’s no denying that our lives are choked up with so many activities almost all the time. Hence, we tend to forget certain important things we ought to do. A budgeting app is built on understanding this, which is why it unfailingly sends you automatic alerts to remind you of important events even when you do not open the application.
For example, the app can send you a prompt notification if there’s a sudden transaction in any of your accounts. Budgeting apps will also remind you of impending due dates for bills, which will help you stay on track while budgeting your money.
- Quick And Easy Access To Information
Most times, it’s pretty difficult to access comprehensive information on all your financial accounts. In fact, thinking about how much time you would spend understanding all the various pieces of information makes you tired already.
However, if you are using a budgeting app, it would pull data from all of your accounts and compile it into a comprehensible piece of information on a single dashboard. This makes it easier to know your financial state within a few minutes.
- Track Your Progress
When budgeting, it’s very crucial to check your progress constantly. You need to be able to determine whether you are actually making any progress with your finances or lagging behind. A budgeting app makes tracking your progress very easy and quick. It does this by recording all your various transactions.
For example, if you want to save $1000 for a weekend trip, you can create this financial goal in the app and designate the account you’d use to save this money. Whenever you deposit money towards this objective, the budgeting app tracks it. This makes it easier to see how close you are to your financial goal.
- Avoid Mistakes
Using a couples budgeting app will help you avoid costly financial mistakes. For example, missing a credit card payment can result in more interest charges, and if it keeps happening, your credit score could get damaged.
The best budgeting apps for couples can prevent this mistake by reminding you of the due payment you are expected to make. All you need to do is set the alert for the specific date you need to be reminded of.
10 Best Budgeting Apps For Couples
Building a budget every month as a couple is much easier with a budget app. Here are 10 budget apps you should be acquainted with:
1. Personal Capital
Personal Capital is one of the best budgeting apps for couples to manage money effectively. As much as this app is free, it’s an invaluable financial tool every couple needs. Sometimes, couples have to pay to meet a financial expert to educate them on managing their finances, as well as the benefits of saving money.
This budgeting app, however, does this for free. It provides accurate information on your net worth and how much you would be worth if you save a certain amount of money every month. Consider the personal capital budget app as your personal AI financial advisor.
Moreover, tracking your progress while budgeting is quite easy with this app. You can effortlessly set up a retirement goal and measure your progress while saving towards the goal. Of all the best budgeting apps for couples, you should learn more about this tool. Plus, it has a 5-star rating on the Apple Store.
There’s hardly anyone who wouldn’t talk about Honeydue when talking about the best budgeting apps for couples. It’s a great tool to help you gain control of your finances by budgeting your money appropriately, saving regularly, and achieving certain financial goals. To use this app, you must first sign up by creating an account and then invite your partner to join.
Honeydue makes budgeting flexible by allowing you to choose how much of the expenses you want to share with your partner. You can also share how much is to be paid individually.
Although the app is free, there’s an in-app purchase that allows you to have a conversation about your expenses and react to certain payments with emojis. Honeydue is one of the few budget apps for couples with this feature.
Formerly known as EEBA, Goodbudget is a budgeting software that enables you to use the envelope budgeting method. Developed by Dave Ramsey, the envelope budgeting strategy requires you to divide up cash into different categories of your expenses.
For example, your expenses can be categorized as groceries, utilities, savings, health, miscellaneous, and whatnot.
This is a tedious task, however, Goodbudget does all the work for you. If you are using the free version of the app, you can create up to 10 categories and sync up the budget with your partner.
Another reason why this is one of the best budgeting apps for couples is that it’s available on both Google Play Store and the Apple Store. This means if your partner uses an iPhone while you use an Android, you both can still download the app.
Trim is not a traditional mobile app. It’s web-based. However, it’s still as instrumental as all the best budget apps for married couples. If you are the type that pays for subscriptions that you forget to use, this app is good for you.
Trim helps you cancel unused subscriptions, thereby helping you save money. It also facilitates frugal living by helping you cut down costs in many areas. As a couple, this app can help you identify certain expenses that drain your budget every month.
Trim is not an entirely free budgeting app. To make the most of this tool, you need to subscribe to the premium plan.
If you are looking for a very effective monthly expense, you should try EveryDollar. It’s one of the best budgeting apps for couples and single individuals. It was built by financial guru Dave Ramsey. You can build a budget from scratch with your partner using this app. It offers easy features and tools to help you have a full grasp of your financial situation.
You can track your expenses easily, save money automatically, and assess your progress as you save towards financial goals.
The EveryDollar budgeting also has a great feature called Local Providers. It’s a feature that helps you connect with local financial advisors to get help whenever you face severe hurdles in your finances. It’s available on Android and iOS, and there’s a web version as well.
With over 400,000 reviews and a 4.5-star rating on Apple Store, Mint is one of the best budget apps for married couples. This app is great for budgeting because it has all the tools needed to look after your finances and organize your spending.
From checking balances to saving money and tracking your expenses, Mint organizes all these activities in one place. This amazing budget app lets you control your financial life right in your palm.
Also, Mint helps to invest wisely and track your progress. It’s available on Android and iOS devices.
7. PocketGaurd Money & Budgeting
If you need a tool to help curb your spending, PocketGaurd is exactly what you need. It’s currently one of the best money management apps for couples due to its features that make it easy and quick to monitor your spending. The app notifies you when you are overspending compared to how much you had budgeted for that spending category.
For example, if you budget $200 for groceries, PocketGaurd would let you know when your spending exceeds that amount.
When considering the best budgeting apps for couples, it is safe to say that this app is reliable. It connects your bank and credit accounts, and that’s how it can keep track of your expenses and caution your spending habit.
Mvelopes is one of the best budgeting apps for couples that are interested in using the envelope system. Like the Dave Ramsey budget, this app makes it easy to allot money to every category of your monthly expenses. This is a brilliant strategy for controlling your spending and preventing impulse buying. All your purchases should be planned for using the Mvelopes budget app.
Although this financial tool is not one of the free budgeting apps for couples out there, it offers a very affordable subscription package. The plan starts at $4.00 per month. That’s quite a reasonable amount to spend on your financial life.
9. You Need A Budget
Due to its unique approach to managing expenses, this app has become quite popular. Unlike the traditional method for building a budget, this app helps you budget money based on your income. Whether you are earning a lot of money or not, You Need A Budget makes it easier to organize your expenses in a way that suits your cash flow.
You just have to follow a few basic rules to get everything up and running. It’s considered one of the best free budget apps for couples since you can use it without subscribing to any premium plan. Also, it’s available on both Google Play Store and the Apple Store.
10. Zeta Money Manager
Zeta Money Manager may not be as popular as the other best budgeting apps for couples, yet it makes budgeting seamless for every couple. It offers similar features to Honeydue but still stands out in terms of how it’s being operated. Couples can easily use the app to track and split expenses.
Zeta Money Manager also offers an FDIC-insured joint account that issues two debit cards. This makes it possible for a couple to merge and share funds effortlessly without seeking help from their financial institution.
Another thing that makes this app unique is that it’s completely free. Unlike Mvelopes and other premium budgeting apps, you don’t have to spend even a cent to use Zeta Money Manager.
Final Thoughts On Best Budgeting Apps For Couples
Some of the biggest financial challenges couples face can be averted if they properly manage their income and plan toward their financial goals.
Building a budget is a perfect place to start when it comes to managing your income and achieving money goals. It gives you clarity as to where your money goes, and it also encourages you to curb overspending.
Thankfully, you’ve briefly examined the best budgeting apps for couples. Choose the one that suits you and your partner and gain control of your finances as soon as possible.
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