Managing your finances when you include a second person in the equation may be a stressful experience, regardless of if you and your partner maintain shared bank or credit card balances, your ones, or a combination of the two.
Using a budgeting tool for couples is a fantastic answer, particularly if you and your spouse are attempting to save money for a specific goal like purchasing a new vehicle, paying off debt on your first house, or taking a trip in the future.
A budgeting software for couples called Honeydue might help them keep track of their money. Let’s take a closer look at Honeydue in today’s review.
What is Honeydue?
Honeydue is a budgeting application that helps; by using it, you and your life partner can monitor how much money you’re consuming and where it’s going, all from the comfort of your phone. The software is especially useful for those who live together and split part of the household expenditures.
When you’re linked to Honeydue, you may designate the account balances and transactions you wish your spouse to view and, through encrypted connections, add your banking, savings, credit card, loan, and investment accounts.
Honeydue differentiates itself from other similar services since it assists couples in jointly managing their finances. You and your spouse may be on the same page about your finances by keeping tabs on your spending and coordinating how you pay your bills.
How to start using Honeydue?
It is necessary to download Honeydue’s smartphone app to begin utilizing it. Click here if you’re an Android user and want to download the app. Click here to get the app if you’re an iOS user.
Open the application after the download has been completed so that you may create an account and connect any financial, credit card, savings, or other investment accounts you have.
The app gives you an invite that you may send to your partner after you’ve successfully established an account. Once your partner has installed the app, you can begin managing your finances together.
How do Honeydue works?
Honeydue operates by requiring you to connect your bank accounts, credit cards, investments, saving accounts, and loans. A monetary budget may also be entered and manually tracked if desired.
Your data is reportedly encrypted with 256 bits of security when both in transit and while it is being stored, as stated on the Honeydue website. Additionally, to increase the level of security afforded to your account, the program calls for multi-factor authentication.
Additionally, Honeydue will invite you to set bill reminders for basic payments such as phone, rent, and energy. After that, you’ll be able to start creating a budget for the two of you by inviting your spouse to install the application.
The Honeydue app is divided into three distinct areas for your convenience. There is one for your costs, one for your partner’s expenses, and one for the expenses that both of you split.
Honeydue keeps tabs on your accounts, including the balances and transactions.
racking and classifying each transaction helps you better understand how you spend your money and make better decisions. You and your partner can discuss transactions using the app’s built-in chat function. The budget section creates an eye-catching representation of your monthly expenditures to help you better manage your spending.
How much can you save using Honeydue?
Honeydue is a free service that can help you and your spouse save hundreds of dollars by keeping better track of your spending and more effectively managing your budget. The greatest thing is that Honeydue can do all this without costing you a single penny.
Pros and Cons
Here are some Pros and Cons of Honeydue
- Over 20,000 different banks and other financial organizations can choose from when linking accounts.
- The app has a free chat mode for communicating with your partner.
- An easily accessible joint checking account comes with a free debit card and seamless app integration.
- Facilitates joint financial planning with a partner.
- It’s completely free to make use of.
- Accessible on both Android and iOS devices.
- The application is not available in a desktop version.
- Only online forums are available for support.
- There are adverts included inside the application.
- The budget just displays the monthly expenditures.
Final Review of Honeydue
Honeydue provides a fantastic user experience and design, enabling two individuals to work together on their expenses and collaboratively track costs. The integrated chat and calendar functionality is an effective method of communicating with another person regarding bills.
Honeydue is an even more powerful instrument for household budgeting due to the availability of a solution for a combined bank account that can be used by two people.
However, the program does not provide some of the capabilities to compete for budgeting applications. These features include monitoring investment portfolios and establishing financial objectives such as the accumulation of an emergency fund.
How safe and secure is my information?
Honeydue protects your financial identity using the same cutting-edge technology used by banks. Your identities, passwords, and answers to security questions are never saved by them. They are not privy to your complete account information or routing numbers. Honeydue stores all your other personal accounts and transaction data in an encrypted format and communicates using encrypted network protocols.
Can I alter what my partner sees?
When it comes to an account you control, you get to pick what information your spouse has access to. Simply log in to that account, go to “Options,” and choose “Partner can view” to do this. You have control over what your spouse sees in this area.
How can I send an invitation to my partner to use Honeydue?
To see your partner’s profile, choose More from the menu and then touch on the profile. If you provide your partner’s email address and name in the appropriate fields, they will be sent an email inviting them to join.
How to contact Honeydue customer support?
You can contact their customer support through the in-app “Helps” section and then tap on the “Message Us” option. In most cases, you should hear back from them within a day.