Couples with very different approach to spending seem to always find it difficult to manage their finances, in a situation where one might love saving while the other is more interested in spontaneous shopping, it’s almost likely they’re going to clash at a point in time.
The differences between their approaches might inevitably lead to disagreements. What if I tell you there might actually be an opportunity for both of you to grow irrespective of your different approaches to money?
Well there are some really cool budgeting apps you and your partner can use to spend money judiciously, and in this article, we’ll discuss these apps and analyze how you can make the most out of them.
Top Budgeting Apps for Couples
There are a couple of great budgeting apps out there, but we’ve arranged the absolute best among them. You can choose from each of the apps we’ll mention below. They’re all very good, I promise.
1. YNAB (You Need A Budget)
If you have a different spending habit from your partner, then you must absolutely love the YNAB app, it is practically one of the most popular budgeting apps.
It encourages you to make every dollar count, with this app, both spender and saver will be held accountable for how they manage their finances, below are some of the key features of the app
- Key Features:
- It is Synced with your bank accounts in real-time.
- It allows you and your partner to share a budget, that way you can easily track your spending together.
- With the app, you can easily plan for future expenses like vacations or even emergencies.
- Best For: Couples who especially want a very proactive approach to budgeting.
- Cost: There’s a Free trial for 34 days, after which you will be mandated to pay about $14.99/month.
2. Honeydue
Honeydue is another astonishing budgeting app that’s been around for a while now. If you are a couple who cherish transparency and teamwork, then this is the right budgeting app for you.
This app will allow you and your partner to track your spending without micromanaging anything, you will definitely leave no stone unturned when it comes to budgeting with Honeydue. Below are some of its key features.
- Key Features:
- The app comes with Links to both separate and joint accounts so that either of you can easily have access to it.
- From time to time, it sends reminders for your upcoming bills.
- You will be allowed to categorize your expenses and set spending limits.
- Best For: If you and your partner want to maintain financial independence even though you are working toward a shared goal, then Honeydue is for you.
- Cost: It costs you nothing, totally Free.
3. Goodbudget
Goodbudget is another sensational budgeting app couples can consider if they really want to manage their finances very effectively. This application makes use of an envelope system which allows you to distribute your money to different spending categories set up by you. if you and your partner prefer manual tracking of your budget, then Goodbudget is good for you
- Key Features:
- Goodbudget can be easily Synced across the different devices you run with your partner, through these you can easily get real-time updates.
- There’s more than enough envelopes for the different expenses you wish to carry out with your partner.
- you don’t need to link it to your bank accounts, so it is very safe.
- Best For: If you and your partner want a more traditional envelope budgeting system in a digital form, Goodbudget will do an amazing job.
- Cost:it is absolutely Free for the basic features, but you will be asked to pay around $8/month for the premium package, it’s worth it though.
4. Splitwise
Although Splitwise isn’t your normal traditional budgeting app like the ones we mentioned above, it’s still perfect for couples who want to split their expenses yet they don’t really have a joint account to do so. With Splitwise, you can easily keep records of shared costs like your rent expenses or utilities bills.
- Key Features:
- You can easily use Splitwise to check up on all the expenses that you shared with your partner, that’s not all, you can also calculate who owes what and who needs to balance each other up.
- Splitwise will always send you reminders so that you can easily settle your balances.
- the app is Integrated with PayPal and Venmo with this, you can easily make payments without much stress.
- Best For: If you love to split expenses but at same time manage separate finances with your partner, then you should go for Splitwise.
- Cost: it is Free, but for the optional Pro version you are to pay $3/month.
5. EveryDollar
With Everydollar, Every dollar really counts, The team behind Dave Ramsey’s financial principle are the ones that created every dollar, they focus mainly on zero based budgeting. These apps help you to plan every dollar that comes to you and your partner’s purse.
- Key Features:
- It is Synced with your bank accounts which means you can easily track your budgeting.
- Everydollar supports shared budgets for you and your partner.
- You can easily receive financial advice through their many educational resources.
- Best For: It is very cool for couples who want a simple, goal-oriented budgeting app.
- Cost: It is free for the basic, but you have to pay a whopping $79.99/year if you want to enjoy the premium features.
Why Budgeting as a Couple is Important
If Couples discover that a budget is way beyond being just numbers, rather than a tool that helps them make better financial decisions, they’ll understand that budgeting is sarcornist to their growth. below are some reasons why you might take budgeting very serious with your partner
- It helps you Set shared financial goals: It could be saving for a vacation or even paying off debt, whichever you are intended to do, budget will definitely keep you focused.
- Reduce financial stress: If you know exactly where your money goes, there’ll be absolutely no need to have arguments with your partner about spending.
- Couples experience Improve communication: With budgeting through these apps, you have better communication with your partner as regards to the financial decisions you take as a family.
Final Thoughts
While it might not be easy to budget as a couple especially when both of you have different approaches to how you spend your money, all that can change if you have the right apps that address your concerns.
In this post, we were able to mention some of the very best budgeting apps for couples, you can choose any of them and start budgeting with your partner right now.