New Couples Personal Finance App, Honeydue, Tackles the Money Issue
It's been said that financial arguments EARLY in a relationship are the leading indicator of divorce in American couples. With finances being such a key subject in countless relationships, it's important to establish and track your bills, bank balances, and spending together.
Honeydue is Changing the Game.
The new iOS mobile app, Honeydue, makes finance for couples SIMPLE. Honeydue allows couples to see all of their balances in one place, neatly organized. No more messy bank statements.Another amazing feature is shared expenses: the option to even up balances with your partner every month.
How Honeydue Started...
In 2016, Eugene & Thien started WalletIQ to help families and friends develop better financial literacy and habits.After observing that most couples were using spreadsheets to manage their finances, they launched HoneyDue to make things a little easier.
The Mobile App
The mobile app has a clean interface and simplified UI (user interface).Think Mint meets Clarity Money. To get setup, the app requires you to input your financial information. This can include your bank info.The app then pulls the data via API and viola, your account info and balances are pulled into the app.With access to more than 10,000 banks, Honeydue makes it simple to find your bank and access your data.The next step, that differentiates Honeydue from competitors, is the partner aspect. Once your banking info is added, simply add your significant other via email.
Checks and Balances
Once setup, you're able to view your balance information. You also have the choice of viewing all of your accounts, just those you’ve labeled as “mine,” or just those you’ve labeled as “joint.”Tapping on any one account will also let you browse recent transactions.According to DyerNews:
Viewing your transaction activity is actually the first place where Honeydue sets itself apart. See, in addition to the ability to re-categorize any transaction, you can also label them with emojis or make additional notes.
Assuming you’ve selected the correct option in your notification settings (more on that later), your partner will then be alerted to your notes or reactions and can respond accordingly.
Honeydue encourages couples to talk about finance. The app makes it easy to remind each other of upcoming expenses, for cohabitating couples, it's also simple to split expenses.
There's one caveat to the app. There's an option to hide accounts from your significant other. Depending on how you look at it, this could have a negative connotation to some couples, while others are fine with it.Download the iOS VersionOverall, the app is SUPER helpful! If you're looking for more budget saving apps, check out our recent article: The Dopest Money Saving Apps for Increasing Wealth