Budgeting Apps to Use to Sync on Money with Your Partner

by Ameelie Wilson Freelance Blogger

Budgeting is quite challenging, but it is essential, especially when you and your significant other both have the responsibility for household expenses. Budgeting together can have a significant impact on your finances. You both will stay organised.

Budgeting as a couple is different from budgeting as an individual. You both will have to align with the goals you have set to achieve together. However, you will be spending some of your money on your personal expenses at the same time.

Budgeting as a couple can be very challenging because you have to take up the responsibility for individual expenses and household expenses. You can do it manually, though it is suggested that you use budgeting apps.

Various budgeting apps have been designed exclusively to help couples. Using these apps will be very easy for you to synchronise your spending and savings to the household budget.

The best part about these apps is that you can get all information in one place, and hence nothing is likely to slip out of your sight. You will be able to get an insight into your finances to make better financial decisions.

Budgeting apps for couples to be on the same page

There are several budgeting apps that you can use, but you should opt for the one that meets your goals. Here are the budgeting apps that you can use so you and your partner can be on the same page. If you often struggle with budgeting and paying down unsecured personal loans for bad credit and no guarantor, these budgeting apps can actually help you.

Goodbudget

This is a great app for couples who like the cash envelope system. You do not need to use paper envelopes. Instead, you will be using digital cash envelopes. It is a good app for zero-based budgeters.

· You can categorise your expenses, track your spending, and manage your debt obligations.

· You will likely get a great user experience because of the absence of distracting ads.

· The app can allow you to create envelopes for various categories. However, the limited version of the app cannot allow for it more than 20.

· Further, the free version allows you to use the app on only two devices, but the paid version can allow you to run on five devices.

· Note that you will have to manually update your envelope when you make a particular transaction because it cannot sync to your bank accounts to track your spending in real-time. If you are not comfortable with manual updating, you should look for other apps.

Firstly

This app has exclusively been designed for the sandwich generation – people who have to support their children and ageing parents financially. You can manage all of your household expenses using this app.

If you have some debt obligations like outstanding student loans and loans for the unemployed, this budgeting app can help you stay on top of your expenses. It offers very different features.

· It allows in-app communication with your partner or any other family member.

· You can sync all transactions to your bank, so you do not need to update anything manually.

· You can set family saving goals. You can set reminders about upcoming bills to avoid defaults, and it is absolutely free.

Mint

Another app that you can use for budgeting is Mint. Firstly, this app also syncs with your bank, so you do not need to do any manual updates.

· This is absolutely free, so you do not have to worry about monthly subscriptions.

· You and your significant other can easily create a budget and sync your bank accounts to stay in control of your finances.

· The app will send you reminders about your upcoming bills. This is a great way to stay on top of your expenses.

· It will also notify you when you are low on funds. You can quickly restrict your spending with such notifications.

· It will also let you gain an insight into areas where you are overspending. The app is free so that you can come across some distracting ads.

Mvelopes

This app also works like Goodbudget because it also uses digital cash envelopes. You can control your overspending by creating envelopes for each of the spending categories.

· You can get to know how much money you are left in your bank to spend. This will prevent you from overspending.

· Unlike Goodbudget, Mvelopes is synchronised to the bank, so you do not need to update envelopes when you make a transaction manually.

· It comes with three different subscription plans. You can choose any of them. Since no free version is available, you can access unlimited virtual envelopes.

· If you opt for a premium plan, you can access money coach.

Personal Capital

This app will give you a holistic view of your financial condition. It will not only help you stay on top of your spending, but it will also help you manage savings for your long term goals like retirement funds.

· You can use this app free of cost, but you will have to pay the fee for availing yourself of wealth management services.

· It can synchronise with your bank so that you will have a record of all transactions in one place without manual updates.

· This app has exclusively been designed for couples who are looking to manage finances for futuristic goals.

· You can keep tabs on everyday expenses to avoid overspending and ensure contribution to savings.

· You can link this app to your retirement accounts as well. In fact, it offers a free retirement planner tool.

The bottom line

You can find budgeting hard, especially when you have lots of other responsibilities. However, you can do it by using the apps mentioned above.

These apps have been designed exclusively for couples. You and your spouse can be on the same page. Before you use any app, make sure that you use the one that fulfils your needs.