Everyone in a relationship knows budgeting is a touchy subject. It is a leading cause of arguments among couples. It’s important to set clear boundaries when it comes to money in a relationship.
Staying organized and having a financial plan with your significant other is always a good idea. It can help you stay on track with your finances. Power couple status can be achieved with the help of apps like Honeydue. You never get stuck with the bill again if you keep track of who’s paid what.
I will explain how Honeydue can simplify your budgeting. I will help you figure out if the app makes sense for you by comparing it to other budgeting apps and weighing its pros and cons. I will give you an in-depth review of the app so that you can make an informed decision.
We will look at what Honeydue is and how it works. Honeydue is designed to help couples make financial planning easy and stress-free by providing a simple, streamlined way to manage their finances together.
What Is Honeydue?
Honeydue is a budgeting app with one simple mission: helping couples manage their money better together.
You can use the app to link your bank accounts, coordinate bill payments, and open a joint checking account. The couple’s expenses are visible in the app in real time instead of constantly updating a shared spreadsheet. It’s easier to keep track of their financial goals because of this.
With a better idea of what Honeydue is, let’s look at its features and user experience for handling personal finance as a couple. Couples can take control of their finances with the help of Honeydue.
Honeydue Features
Mobile App
Honeydue is available on both the App Store and the Play Store. The app has a 4.5-star rating in the App Store and 4 stars in the Play Store. It is one of the most popular apps in its category because of the positive feedback from users.
Account Tracking
When couples sign up for Honeydue, the first thing they need to do is link all of their accounts so that the app can track them. This will allow you to make informed decisions about your finances together and give you a full view of your financial picture. Whatever makes the most sense for your unique financial situation as a couple, this could include bank account, loan, credit card, investment account. It is possible to set up joint accounts for shared expenses, such as groceries and home maintenance costs.
Adding more information will give you a better picture of your monthly spending habits, shared financial position, and financial goals. You can use this information to better manage your finances and save for the future. More than 20,000 financial institutions across five countries are supported by Honeydue. It’s free to try out and see if it can help you with your finances.
You will have control over what your partner can and cannot see once your accounts are linked. You can keep sensitive information secure by setting different levels of access for each account. You can either share your account balance or nothing at all. You have the option to limit access to certain accounts. Honeydue recommends couples start out with “balances only.”
The app breaks transactions down into preset categories. You can easily identify areas for improvement with this information. Adding your own categories will fit your personal budgeting style. Adding additional categories for savings goals or unexpected expenses is possible.
Bill Reminders
Honeydue offers due date reminders to help you stay away from late fees or missed payments. The recurring bills can be entered in the app. Reminders can be set so you don’t forget to pay your bills on time. When it comes time to pay, Honeydue will hit you or your partner with a reminder, which should help you settle your bills on time. You can easily keep track of who’s paid what with the payment history provided by Honeydue.
You can split expenses and keep a record of who owes what. By setting up an expense tracking system, you and your friends can quickly and easily keep track of who owes what. Similar to SplitWise, you can enter all of your costs and the app will calculate the total balance to help you settle up. You can keep track of who you owe and who owes you with the app.
Live Chat
The in-app chat function is one of the most helpful features. It is easier for couples to manage their finances with the in-app chat function.
You might be curious about a questionable transaction that your partner made. To get a better understanding of the situation, you may want to ask them directly about it or look into the financial records yourself. If that’s the case, you can send a direct message to your partner instead of using personal finance apps. If you’re not comfortable talking about money with your partner, this approach can make it easier to discuss the issue.
If you want to discuss specific charges in the app, you don’t have to take a screenshot from one account and forward it to another. Discuss weird spending habits with your partner in the app and out of the bedroom. Having a clear budgeting plan and setting financial goals together can help to reduce any potential stress or tension that money might bring to the relationship.
Joint Cash Account
Honeydue’s You and your partner can use the joint cash account. Joint Cash is insured by the Federal Deposit Insurance Corporation. You can rest assured that your money is safe.
Here are the main features that come with a Joint Cash account:
- Visa debit cards for each of you
- No monthly fees or minimum deposit requirements
- Fee-free access to more than 55,000 ATMs nationwide with your Visa card
- Custom notifications
- Real-time balance updates
- Modern budgeting tools
Honeydue Pricing and Fees
The money management platform is completely free. It helps couples manage their finances, track spending, and get on the same page with their money. Users are encouraged to give tips, but these are not mandatory. All donations are greatly appreciated, and the tips given by users are never expected. If you like the platform, you can choose to add a recurring tip between $1 and $10 per month, which you can cancel at any time. You can also make a one-time donation.
The good news is that if you tip you won’t affect your account status, and none of Honeydue’s features sit behind a paywall.
Signing Up and Getting Started
All you have to do is download the app and enter your email address. You’ll be prompted to enter your partner’s email address once you’ve done that. It takes less than a second. You can take advantage of all the features when you set up your account.
You have the option to invite your partner after you confirm your email. You can either invite them at a later date or not at all. Adding recurring bills and bank accounts is the same. You can easily monitor your finances once you have added your bills and bank accounts.
You’ll need to enter some additional information to sign up for a Joint Cash account. Honeydue doesn’t run a credit check, so this won’t affect your credit score. Signing up for Honeydue will not affect your credit score.
Honeydue Promotions, Bonuses, and Coupons
There are no sign-up bonuses or promotions for new accounts at this time. Regular promotions for existing customers are offered by Honeydue.
It wouldn’t come as a surprise if Honeydue ran a promotion to get more people to sign up for the Joint Cash account. Those who sign up now will be offered a free trial period or additional features.
If there is a bonus, I will keep you updated. Make sure to keep your resume up to date so you’re ready for any opportunities that come your way.
Honeydue Security
You need to link your most sensitive financial information to use Honeydue effectively. It’s easy to use, so you don’t need to worry about the security of your data.
Honeydue has bank-level security practices in place to keep you and your accounts safe. This includes measures to protect your data. Passwords, security questions, and usernames are not stored in the app. It is designed to be convenient and secure. It doesn’t have access to your account. It’s a secure payment option.
On top of that, you can restrict account access by enabling multi-factor authentication, touch or face ID, or a PIN code.
Customer Service and Support
Honeydue has a limited platform when it comes to customer support. Ensuring that you’re comfortable with the platform before fully relying on it for managing your finances is important.
If you have questions about your account, you can email [email protected] or check out the FAQ section in the online Help Center. The support team can be reached by phone.
Learn More:
- Why You Need a Personal Budget
- Top Budgeting Systems You Can’t Live Without
- How to Make a Budget
- What Is A Budget & Why Is Budgeting Important?
Pros and Cons of Honeydue
Pros
- 100% free
- Easy-to-use budgeting app for couples
- Highly-rated iPhone app
- Optional Joint Cash account
Cons
- No signup bonus
- Limited customer support
- No APY earning on Joint Cash deposits
- No round up or investing features
Alternatives to Honeydue
One of the only budget apps that focuses on couples and shared finances is Honeydue. There are other options that should be looked at.
PocketGuard
PocketGuard is an app that can help you grow your savings account. It’s completely free, and it’s easy to use.
PocketGuard analyzes how much you have to spend each month after taking care of your expenses. You can build a plan to pay down debt. You can make changes to the plan as you go along. PocketGuard can help you negotiate lower rates on your bills. Just connect your bank account and PocketGuard will do the rest.
YNAB
YNAB, which stands for You Need A Budget is a personal budgeting software that is available on a number of platforms. Budget is designed to help users plan, track and manage their finances.
YNAB encourages budgeters to allocate certain amounts for certain expenses each month.
YNAB is giving new users 34 days free. The cost of the service goes up after that. You will save over $20 if you choose to pay annually.
Personal Capital
Personal Capital focuses on budgeting and long-term wealth management.
You can easily set a budget and track your cash flow, and it comes with tools to help you plan for education and retirement. You can use this tool to reach your financial goals and gain insight into your current financial situation.
FAQ
How does Honeydue make money?
Users tip Honeydue and it makes money. Premium features are available for a small fee, so users can get even more out of their money managing experience. It is up to you if you want to pay a small amount for the service. The cost is usually reasonable if you decide to pay.
Is the Honeydue app safe?
Yes. It doesn’t store any of your sensitive information, and it has bank-level protections in place to keep your account information secure. All data that is transferred between your device and Honeydue’s server is protected.
What is the best budgeting app?
The one that you will enjoy using is the best budgeting app.
You can’t control how much money you spend or save. You can make the most of your money if you take the time to understand your finances.
If you and your partner can’t manage their finances, access to the best budgeting app doesn’t mean anything. It is important to communicate and understand when managing finances.
So, Is Honeydue Right For You?
Money issues don’t help relationships, they are never easy. In order to establish a healthy and successful relationship, it is important to communicate openly and honestly with your partner.
The key to financial bliss is to have a plan, and apps like Honeydue can help you and your significant other put together a good one. You can make sure that your financial future is secure by setting achievable goals and planning ahead.
The bottom line is that Honeydue is a great option for couples who are excited to budget together and share their finances. Honeydue makes budgeting easy and efficient so couples can focus on their goals without worrying about the details. It helps you stay on track and hold each other accountable. It’s a must have for any team looking to achieve success in a collaborative environment. It doesn’t hurt that the app is completely free. There are no hidden fees or subscriptions that you need to worry about.
Only you and your partner can keep the budgeting train on the tracks.
Making the right personal finance choices each and every day is what this is about.
