What's the only thing tougher than deciding to finally get your financial life and monthly budgeting on track and under control? When there are two of you.
Making sure to log all of your transactions and be fiscally responsible is often difficult enough, but when you're trying to manage that operation when both you and your partner have a hold of co-mingled purse strings, your degree of difficulty goes up exponentially.
Honeyfi is a personal budgeting app specifically built to handle the needs of couples so two people can team up efficiently to monitor and save money.
Once users enter their account information, they'll each choose what to share with their partner, from a bottom-line budget number all the way to full transparency with every transaction displayed and accounted for. All purchases can be categorized so everything is searchable and can even be split into multiple categories.
With Honeyfi, both partners can see an overview of their entire finance picture or dig into the details whenever they want. Each transaction can be accompanied with a note so both people can know the who, what, where, when and why of every expenditure. Based on your previous spending, Honeyfi can even automatically suggest a household budget for you, which can be easily edited to track your spending against it.
Perhaps Honeyfi's most useful feature is its shared savings feature, which helps both partners save toward important financial goals from a vacation or an emergency fund to a down payment or college for the kids. In addition to better lining up your future goals, Honeyfi also makes it easy to automatically set a contribution rule and move money from their standard monthly spending into a savings-only account that grows toward your goal.
All funds held within Honeyfi Goals are FDIC-insured up to a balance of $250,000 and you even earn a 0.5 percent savings bonus. Of course, you can also withdraw your money at any time, quickly, and without racking up any fees.
And the money can seriously add up quickly. On average, couples save $700 with Honeyfi after just one month.
Right now, you and your partner can both get on the same financial page with a one-year subscription to the Honeyfi Couples Budgeting App, a $59 value now on sale for half off, just $29.99.
Prices are subject to change.
Do you have your stay-at-home essentials? Here are some you may have missed.
