If you’re looking for a way to get you and your partner on the same page when it comes to your bank account balances, monthly household spending limits, and other budgeting concerns, a budgeting app may have the answers you seek. However, there are tons of budgeting app options out there, so how do you know which will be best for you and your partner? That’s where Honeydue claims to come in to help.
Honeydue is a budgeting app designed for couples, making it easier for you to manage a joint bank account and monitor spending habits for yourself and your partner all in one place. While there are plenty of other personal finance app choices out there, there aren’t many that allow for managing the finances of two separate people.
Is Honeydue the best personal finance app? That’s something that only you can decide for yourself – but it certainly has a number of features that could put other budgeting apps to shame.
So, let’s find out if this app is truly worth the download in this Honeydue review. Here’s what you need to know about this unique app for couples!
What is Honeydue?
Honeydue is a budgeting app designed to provide you and your partner with the opportunity to collaborate and oversee all of your shared financial information.
You can set your own custom categories to keep track of bank balances, set bill reminders, and even manage student loans. It’s ideal for couples who already have joint banking information and joint accounts, since it can help you set and stick to a single household budget.
Like many other personal finance apps, Honeydue can take the stress out of managing finances and help both of you feel as though you are totally in the loop.
How Does Honeydue Work?
When you first get started with Honeydue, you’ll create an account and upload some basic information.
The app is divided into three separate parts, with your individual expenses separated out along with a combined “all” section where shared transactions with your honey will appear. You can label expenses as individual or shared expenses (rent or utility bills would be an example of a shared expense).
You can even create a shared calendar, in which you can set bill reminders. The calendar will send alerts to both users when bills’ due dates are coming up.
Though it’s not a required feature of the app, Honeydue even has a joint bank account for users who are interested in banking together but don’t yet have their own account number. You will get a Honeydue debit card and have access to an account with no monthly fees, no minimum deposit, and instant activity alerts.
How Much Does Honeydue Cost?
Honeydue is a free app, which is a major benefit of the service.
There are no fees or minimums on the app or even the joint banking account, if you choose to use it. If you decide to use the debit card, you’ll get access to more than 55,000 surcharge-free ATMs around the country.
Of course, Honeydue has to pay its bills somehow – so you will notice ads that appear whenever you are using the app. A small price to pay for this kind of service, don’t you think?
If you disagree with that assessment, then don’t worry. There is also an ad-free version, but you will have to pay to upgrade.
Honeydue, just like any other budgeting app, has all the security features you would like to see to help you manage your money safely and securely.
The app offers Touch ID and multifactor authentication to confirm your identity. It also has data encryption (256-bit encryption) to make sure your information is secure.
Although you do have to provide usernames and passwords for your bank accounts (which is how most of these budgeting app programs work, for the record), the app itself never has your actual banking information in its system. It doesn’t record routing or bank account numbers from your financial institution.
Honeydue Customer Service
Honeydue is available for both Android and iOS devices. Unfortunately, it is not a service that is available for desktop users.
You can get in touch with the customer service team at Honeydue by reaching out over email or chat.
Perfect for Couples
If you’re trying to find a way to manage your money with your partner, you won’t find a better option than Honeydue. You can track your spending and coordinate bills so that you are on the same page as your partner.
While Honeydue won’t handle the tricky financial conversations for you, it does have an educational blog with information on how you and your partner can get better at managing your finances together.
Another benefit of Honeydue is that it is totally free to use. Even its more “premium-level” features, like the chat option and the bank account, are free to use. You’ll just have to put up with some ads!
All Kinds of Bonus Features
Honeydue offers all kinds of fun bonus features for its users.
You can send emojis to each other via the chat feature – or you can touch base quickly with your partner if a recent expense listed in the app doesn’t look familiar.
You can even set monthly spending limits and bill reminders, making this one of the most convenient apps you’ll find.
Not Accessible Via Desktop
This is one of the biggest disadvantages of using Honeydue – you can’t get to it unless you’re on your phone. Unfortunately, if you want to manage your finances on a computer, it’s not an option with Honeydue.
Limited Customer Support
Although Honeydue has exceptional user reviews, it is more limited in the customer support department. You can get in touch with Honeydew’s technical support team via email or chat but it isn’t usually possible to reach someone over the phone.
No Financial Goal Setting Features
Finally, Honeydue is not the best app for you to consider if you’re interested in setting and working toward financial goals (instead of just managing your current financial situation).
Unlike other budgeting apps, Honeydue does not offer any goal-setting features.
How Does Honeydue Compare?
When you’re looking for the best budgeting app, you’ll have plenty of other competitors to choose from, including Mint, Mvelopes, and Quicken.
Honeydew’s biggest advantage compared to these alternatives is that it is ideal for more than one person. While the other budgeting apps on this list are great for just one person trying to manage his or her finances, the options are more limited when it comes to budgeting apps for couples.
That said, Honeydue lacks many of the features offered by other apps. Quicken, for example, offers users the ability to manage and track their investments and to get specialized investment reports. You can also use it to transfer money between bank accounts. Neither of these features is available on Honeydue.
That said, Quicken is not free – you’ll pay up to $100 per year to tap into all of these features.
Another alternative to Honeydue is Mint, which is free, but also offers its own series of disadvantages. It is an app that is incredibly easy to use, but it doesn’t always allow you to sync up to the accounts you want to use, which can be frustrating.
And again, neither of these alternatives to Honeydue is designed for couples – so Honeydue is the clear winner in this category for sure.
Is Honeydue Trustworthy?
Honeydue is considered by many people to be the best budgeting app for couples. It has more than 8600 ratings on Google Play and the App Store and all kinds of security features to make sure all your private information, from your bank account number to your debit card information, is protected.
The Honeydue app might not be the perfect way to manage household expenses for all couples – and it’s not going to have those difficult, sensitive money conversations for you. You still might find yourself squabbling with your honey over how much money is being spent (or where your money is being spent – no judgment here if one of you has a Target or Starbucks addiction!).
The Honeydue app will not, unfortunately, tackle these tricky situations for you – but we’ll keep waiting for one that does!
But what it can do is help you keep track of where your money is going. By keeping each other in the loop about your finances, you’ll both become better at managing money – together. Consider Honeydue to help you get the knowledge and insight you need!