Honeydue App Overview: A Free Budgeting Device for {Couples}

The free Honeydue funds app lets two customers come collectively to hyperlink their monetary accounts in a single place and gives instruments to encourage transparency and collaboration on on a regular basis cash issues.

We downloaded and examined the iOS model of Honeydue to study concerning the options and determine if it’s value it.

It’s a funds app designed particularly for {couples}. Whereas different apps — like EveryDollar and YNAB — enable customers to ask companions to affix, Honeydue’s marquee options are targeted on serving to {couples} funds cash collectively. You and your associate can:

• Hyperlink your monetary accounts, each joint and particular person, to view balances and transactions in a single place.

• Restrict how a lot info you wish to share with every account (i.e., present simply the stability of a bank card and never transactions).

• Set spending limits and monitor transactions in varied funds classes. 

• Chat within the app about particular fees or spending.

Honeydue is barely out there as a cellular app for iPhone and Android telephones, which means you may’t log into your account and test your funds on a laptop computer.

Honeydue is free to obtain and use. There is no such thing as a paid model and subsequently no options blocked behind a paywall.

The Honeydue web site says it makes cash by sometimes asking customers to think about tipping an quantity between $1 and $10 every month.

After you obtain, enroll and log into the Honeydue app, you’ll be prompted to ask your associate by way of electronic mail or textual content. It’s a mandatory step in the event you each plan to handle your funds on the app collectively.

The following step, if you wish to take advantage of the app, is so as to add any monetary accounts you are feeling snug linking to the app. Honeydue makes use of Finicity by Mastercard to attach along with your financial institution. Honeydue says it helps connections with over 20,000 monetary establishments throughout 5 nations. Your associate can add their accounts as soon as they’ve signed up and logged in.

Like with most funds apps, linking your monetary accounts automates the monitoring course of as a result of transaction and stability information flows into the app. The Honeydue web site says consumer info is securely encrypted and that the app requires multifactor authentication to guard entry to your account. Nonetheless, you may add accounts manually within the app in the event you want to not hyperlink accounts.

Honeydue addresses what could also be a sticking level for some by letting every consumer select what features of a linked monetary account the opposite can view. After linking a bank card account, for instance, you may select to share each balances and transactions, the stability solely or nothing in any respect. There’s your answer for purchasing items or preserving the price of magnificence, or your bougie espresso behavior, on the down-low.

Together with your accounts related, you and your associate get a collective view of your balances. Use the funds part of the app to watch spending, notice your greatest expense classes — that are mechanically grouped within the app (e.g., Purchasing & Enjoyable) — and set spending limits. In the event you add your recurring payments and due dates, you may organize to be notified by the deadline.

You should utilize the “chat” part of the app to message forwards and backwards or faucet right into a transaction and depart a remark (“Your minimize and colour price what?!?”). Select your chat phrases correctly.

“Splitting” bills is one other neat characteristic of the app, however it’s actually only a strategy to remind your associate to pay their a part of a particular transaction.

• Honeydue is made for {couples}: An app designed for {couples} is a recent, enjoyable and helpful idea.

• It’s free and doesn’t maintain again options in favor of a paid model.

• The app promotes monetary transparency amongst {couples} however lets customers select how a lot to share.

• Options are pretty primary total, with restricted means to plan for future spending.

• There is no such thing as a desktop model to tweak the funds on a much bigger display.

Reddit is an internet discussion board the place customers share their ideas in “threads” on varied matters. The favored website consists of loads of dialogue on monetary topics like budgeting, so we sifted by means of Reddit boards to get a pulse test on how customers really feel about funds apps. Individuals submit anonymously, so we can not verify their particular person experiences or circumstances.

There’s blended sentiment about Honeydue amongst Reddit customers. Posters admire that the app is free and in addition worth the couples-specific options, that are extra obvious than with basic funds apps. Alternatively, some who’ve posted about Honeydue on Reddit say the app lacks the strong options of paid choices like YNAB.

Managing cash as a pair might be difficult. Add youngsters to the combination, and the shared bills develop and get extra difficult. After giving Honeydue a check drive, we discovered it to be a very good budgeting instrument to get {couples} on the identical web page. It’s free, pretty straightforward to make use of and made for companions.

You possibly can take a look at our finest funds apps record for different issues, like YNAB, EveryDollar and PocketGuard. No matter you select, we’re simply glad to know you’re eager about making good cash strikes.