ÖOne of the biggest points of contention between couples is money. Talking about finances, planning for the future, and staying on top of it all are crucial if you want to keep your relationship going and be successful with money.
Scheduling financial appointments can be a great way to work towards common financial goals and to stay on track as a couple and household. But you don’t have to rely on the casual discussion to keep your finances in line.
Connected: How To Improve Your Relationship (With Money)
Best budgeting apps for couples
Do something different for yourself and your loved ones this Valentine’s Day – get your finances in order. Here are some of the best personal finance tools for couples.
1. Personal capital
If you want a complete picture of your finances, Personal capital is a good choice. It pulls your bank account, credit card account, and investment information, and provides a complete picture of your finances.
As a couple, this can be a great way for both of you to see what’s going on and monitor your overall financial health. You can see your shared and segregated accounts, including your segregated retirement accounts, in one place. Personal capital gives you a holistic view of your money and enables you to make future plans. There’s even a free tool that will analyze the retirement account fees you’ve paid and help you find a better investment opportunity.
Visit Personal Capital or read the full review here
2. Yarn-saving app
One of the most interesting apps for couples is Twine. Just as you connect your life together, the Twine-Spar-App helps you to work towards common goals. The app offered by John Hancock allows you and your partner to transfer money from your individual accounts to a joint account depending on your goal.
Not only can you work towards a common goal with savings, but there is an investment component as well. Whether you’re looking to save for a vacation, wedding, or even a longer term goal, Twine allows you to save and track your progress together.
Continue reading: Evaluation of the Twine app
This robo-advisor offers joint accounts so you can grow your wealth together. Not only that, you can use external accounts with too. link improvement for a larger view of your system.
However, it’s not just about setting up shared investment accounts for goals. You can also make a call with a financial planning expert and use the marriage planning package to help you set goals and figure out how to achieve them.
Continue reading: Improvement assessment
Would you like to go one step further with the budget analysis? PocketGuard is a great tool that can support your collective finances in a way that takes things to the next level. This app not only enables the retrieval of information from bank accounts, credit card accounts and investment accounts, but also uses advanced categorization. Using this categorization, you can see where the money is going – including where it might be wasted on unused subscriptions.
PocketGuard also helps you find cost savings by recommending simple steps you can take to reduce your expenses. A personalized budget based on your goals as a couple as well as your bills and expenses can be created automatically by PocketGuard, which makes it pretty easy to get the financial talk going and get the most of your money.
5. Better things
Lots of people like the envelope system of budgeting, and there are even apps out there that focus on an envelope approach that doesn’t require cash. Better Haves takes this concept and syncs it so you and your partner can see exactly what is happening with the shared budget.
Each person can see what is available in total and even see what is going on in each envelope. This is useful when you are both spending money but not in the other’s presence. You can also create common envelopes for things like utilities and groceries, and custom envelopes for personal expenses.
If you want a full-service couples money app, HoneyFi might be a great choice. You start by answering questions about your financial style and how you handle money as a couple. Set up notifications to keep you informed of transactions – and stop nagging your partner for receipts.
In addition, HoneyFi even enables communication via the app. You can comment on transactions so your partner can see the categorizations and it is easier to ask questions without confrontation.
With this app, couples can make big plans together, track shared expenses, and even leave comments. It is also possible to restrict the disclosure of information so that you can still surprise your significant other.
You can also use Honeydue to focus on key shared goals and track your progress so you don’t spend too much time on the little things that aren’t that important to your long-term goals and needs.
As it sounds, HomeBudget is an app designed to help your entire household get on the same page. Once you have it set up, you can sync your bank accounts and see the expenses in different categories. Everyone involved can check in and see what you have on hand, and even keep track of recurring bills and due dates.
Another benefit of HomeBudget is that you can invite others, including children and other household members.
9. Every dollar
For couples interested in zero-based budgeting, EveryDollar can be a great way to ensure that the entire household stays on the same page and that “every dollar has a job,” as Dave Ramsey says. In fact, Every Dollar was developed by Dave Ramsey.
You can group all budget items together and use them for goal planning to make sure your money is working for you. Additionally, if you need a little extra help with your finances, you can use the Local Providers feature to find experts in your area to help you achieve your goals.
Although you do not have a common credit history, your finances will get better as the two of you will improve your individual credit situation. As you track your creditworthiness and identify (and fix) problem areas, the two of you can improve your finances and open up additional opportunities for you. myFICO offers a family plan that allows quarterly updates and credit monitoring.
You can see when your partner was at the store, but that doesn’t help you much if you need them to get some eggs. A great app to use is grocery. This app gives you the ability to manage one of the most common – and important – common finance tasks that you have.
Sync your list, check off items and see if your partner added anything before you start shopping. It’s a great way to stay on track and not waste time.
You may want to keep your finances separate and split the expenses. Splitwise can help you keep track of invoices and split them up as you agree. It’s a great way to keep track of your joint expenses and make sure you’re both paying as agreed.
Likewise, you can use an app like Venmo to ask your partner to send you money, or you can send payments through Venmo as well. However, when you use these apps, you need to touch the base and talk about money on a regular basis.
Manage money your way
Ultimately, managing your money as a couple is about finding an app that suits your style. Whether you have separate accounts, or have a big pot, or use a hybrid system, there is an app out there that can help you and your partner set goals and progress together.