As you may have read from our basics of financial literacy article, budgeting is an essential skill to master. Household money management apps exist for a reason. Solo money management can be easy to implement. However, when managing finances as a couple or a family, the difficulty escalates pretty rapidly. In this article, we’ll present the best household money management apps. We hope they can help you achieve your savings goals. Don’t forget to check out the last one! 😉
Tricount – Split group bills
Tricount is an app designed to split bills among groups. Its working is interesting because it optimizes transactions. While its marketing enhances its use for group activities among friends, it is also pretty useful to manage expenses as a couple. Another creative way of using Tricount is for children presents. Especially when you want the amounts to match. Tricount partners with Lyf Pay.
FamilyWall – Family Organizer
Although FamilyWall is not specifically a financial app, it comes in as pretty handy for family organization and management. This works for daily activities, chores, tasks, meals, etc. It is associated to your Google Account, so anything you will update there will be automatically added in the app. The only downside is that there is no view mode for children. Therefore you must confide in them not changing anything when sharing the app with them.
Buddy – Budget & Save Money
Buddy is a general money management app which allows you to set multiple goals such as tracking expenses, goal-oriented savings or even paying-off debt. You can connect your bank account or add transactions manually. The perk of this app is it also allows to connect budgets with your partner without having to pay for an additional premium account. With the free offer, you already access all the app’s basic features. The premium trial lasts 7 days.
iSaveMoneyGo – Budget Spending
iSaveMoneyGo is a money management app for personal finances. You can also collaborate with friends and family. To start, you can create a monthly budget along with a monthly planner. All information can be edited later on, and amounts added into corresponding categories. This app is especially useful for young people starting their personal finances. You can add multiple currencies.
Honeydue – Finance App for Couples
Honeydue is a money management app specifically designed for couples. It centralizes all bank accounts in one app and enables an easier management. As they state it, their mission is to “outsmart money”, and we know this can be a tough one! They have an integrated chat box to help couples communicate together. Furthermore, their reminder feature will help you and your partner coordinate bills and avoid late payments.
Greenlight – Debit Card for Kids and Teens
Greenlight is a banking app designed for parents who want to teach money management to their children and teenagers. Trade-offs decisions, money management, and the power of saving and investing are all financial deeds young adults should be aware of. Therefore, preparing them at a younger age is a power move. With Greenlight, kids can access a debit card and be rewarded for their good money habits.
Revolut <18 – Revolut Junior
Revolut is a FinTech structure often referred to as a neo-bank. It provides mobile-based banking services and simplifies payments, money transfers, savings and investments. Recently, they opened a Junior Program for the youth from 6 to 17 years old. These accounts take the form of a sub-account associated to the adult’s Revolut account. The Junior does have access to a specific version of the app to get used to managing their money.
Finnt – Save & Spend as a Family!
While the Finnt app is not available yet, the Finnt Team is designing a family-oriented savings app. There, users will be able to allocate funds to their loved ones. Thanks to this sub-account feature, the savings process is greatly eased. The Finnt App will also come along with a debit card to simplify payments, as well as a spendings tracker. For early access, please join the waitlist today.