Well, no one talks about it, but in practical terms, co-managing money with your better half is the secret to a happy, healthy married life.
by Emma Thomas
Getting married entirely transforms the way one lives. From routine expenses to utility bills, every expense doubles up.
So whether you have recently tied the knot or plan to do so in the months ahead, it’s time that you start considering the worth of splitting expenses with your other half.
Believe us, there’s no right or wrong in discussing your financial health with your better half, just know that you have the power and influence to make the time right.
Yes, don’t fall prey to the ‘right moment thing’!
Seriously, it doesn’t matter who makes a start; what’s imperative is to have the conversation started.
Once you’re on it, you can avoid a lot of resentment and undue unrest.
Thankfully, technology has blessed us with a way to improve our financial resilience, nurturing a harmonizing post-marriage life with fewer fights, and enhanced love life.
So here are a few apps that allow wedded couples to split expenses with their better half.
HoneyFi
Collaborating with the partner to track day-to-day expenses propels the wedded towards a common goal.
Since money has always been the hot topic for wedded couples and a major source of stress too, therefore it’s better to manage it heedfully by sticking to a viable budget that meets the needs without having both of you craving for luxuries.
Honeyfi lets the budgeting couple have an eye-to-eye look across the banks with the facility of being notified any time while allowing the budgeting couple to make a transaction at any time.
We believe decluttering the finances is as easy as decluttering your space, and with HoneyFi, the chore gets even more streamlined.
Just enter your bank details, track your finances, and build a mutual spending plan with your other half.
Twine Savings App
One of the most attention-grabbing apps available for couples on the web is Twine.
The Twine saving app is an expense tracking app that lets the couple specify their budgeting needs together. The Joint Saving & Investing App, presented by John Hancock, lets you and your partner make monetary transactions from your individual accounts into a mutual account, based on your aims.
As the app is free to use, it is super great for couples who aren’t ready to cough up money on budgeting apps.
Also, the app goes premium when the couple moves their savings into investments. So save together, have a mutual fund, and earn a decent rate without lifting a finger.
My Easyfi
My Easy expense tracking app takes the trouble to manage your finances like a pro without requiring you to consult a paid financial advisor.
This web app possesses goal-oriented metrics that work by bolstering the financial resilience of the leveraging couple. My EasyFi monitors complex money problems while providing the hustling couple with an opportunity to earn with its affiliate program without stepping out.
Moreover, the app paints a clear-cut sketch of your financial health, depicting your updated financial situation while suggesting ways to handle a financial crash, which makes it an ultimate go-to for wedded couples.
Betterment
This finance management app heads the list of Robo-advisors, offering joint accounts so the couple can grow and monitor their finances together. Not only that, with Betterment, but you also get unlimited phone access with the convenience of managing it from everywhere.
Also, couples can do so much more by syncing other accounts to gain a better understanding of your fiscal picture.
However, the app benefits the utilizing couple, even if the user has a low balance. The attractions do not stop here. It also offers consultation with a financial advisor to assist the budgeters in reaching their goals faster.
In case you both wish to gain full control over your investment portfolio, Betterment also offers you a flexible portfolio tool to tweak and adjust things accordingly.
Better Haves
Better Haves takes the envelope-based budgeting approach, so if you and your spouse fancy an envelope system of budgeting, here you go!
The envelope budgeting approach doesn’t require cash, so you and your partner can see what’s exactly happening with the shared budget without exposing your bank details.
All it requires is to allocate a specific budget to every envelope that the budgeter might be using.
Each of you can gauge the overall financial fitness only by having a watch at the situation of every specific envelope. Also, the app runs alerts when a money dispute is about to take place. Plus, the couple can form mutual envelopes for stuff like groceries and individual envelopes for personal expenses.
Author Bio
Emma Thomas is a content writer and a copywriter. A writer by day and a reader by night, she can be often found picking cherries in summer Afternoons
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