Couples app to keep finance split and fair

Nickyowen86

Hi Can anyone suggest an app that couples can use to track their finances, to show what bills are being paid in one place and keep money split and fair.

Fireflyaway

I know there is an called 'every dollar' it's American but it might do the job if you ignore the dollar signs?! It tracks what you spend and I believe both partners access it whenever and it shows your budget and balances etc Actually I might go and check it out! 

74jax

You could use a spreadsheet saved on one drive you can both access on computers or phones? 

george4064

74jax said:

You could use a spreadsheet saved on one drive you can both access on computers or phones? 

I would also recommend setting up a spreadsheet, perhaps setting the spreadsheet on Google Docs so both of you can access it whenever and save the bother of constantly saving/sending it.

Sandtree

Nickyowen86 said:

Hi Can anyone suggest an app that couples can use to track their finances, to show what bills are being paid in one place and keep money split and fair.

Unless you want some wizzy features a spreadsheet is more than adequate.

Interested to know whats "split and fair" when it comes to couples finances... lets say Wife earns £135,000 as a lawyer and husband only works part time so they can do the school run etc and earns £15,000. Whats a fair mechanism? Husband pays 10% of bills and wife pays 90% and they both just keep whats left over? They pool all their money and then divide whats left after bills 50/50?

maman

It depends how much detail you need. We just pay for everything with our credit cards and share it out at the end of the month, separating personal spending from household/shared. It only takes a few minutes to do the maths and make a BACS payment. We also have an equal amount of Direct Debits coming out of our personal accounts. 

50 : 50 and separate accounts works for us sandtree. Your question comes up frequently on many threads. It's more than money though as presumably, in the scenario you mention, conversations have been had and decisions  made about school runs and why one partner has such relatively limited earnings. This thread is more about practical organisation. 

Sandtree

maman said:

50 : 50 and separate accounts works for us sandtree. Your question comes up frequently on many threads. It's more than money though as presumably, in the scenario you mention, conversations have been had and decisions  made about school runs and why one partner has such relatively limited earnings. This thread is more about practical organisation. 

I appreciate it is and didn/t really want to derail the question but the explicit point about doing it in a "fair" way is one I've always found interesting and in particular where couple do have a significant disparity in earnings. I personally find the idea of splitting the bills in whatever way and then "you keep what you earn" is a slightly odd way of doing things in a marriage/long term relationship and even more so if one earns 2-3 times the other persons income.

FTBin2020

Although not really an APP, my partner and I use Monzo. We're both very new to "pooling/ sharing" money but decided now is the right time as we're buying our first home. It allows us to track who deposits money into the account, who spends money and on what. It also allows you to add notes to each transaction so you wont forget what odd payments here and there are for. It also has a function to add a "saving pot" within the account, so we can put aside extra money for holidays and other specific things (you can add an unlimited amount of pots).

In addition to this we're using google sheets to summarise what our monthly outgoings are and what each of us will contribute to keep us afloat + save.

AskAsk

Sandtree said:

maman said:

50 : 50 and separate accounts works for us sandtree. Your question comes up frequently on many threads. It's more than money though as presumably, in the scenario you mention, conversations have been had and decisions  made about school runs and why one partner has such relatively limited earnings. This thread is more about practical organisation. 

I appreciate it is and didn/t really want to derail the question but the explicit point about doing it in a "fair" way is one I've always found interesting and in particular where couple do have a significant disparity in earnings. I personally find the idea of splitting the bills in whatever way and then "you keep what you earn" is a slightly odd way of doing things in a marriage/long term relationship and even more so if one earns 2-3 times the other persons income.

i think when the OP says 'fair', he means with clarity.  as an app can not make subjective decisions on fair split, lol.

the definition of fair has to be agreed between a couple, as everyone will have their own idea of what is fair.  i for example, think it is fair that my husband pays for everything even though i have as much money as him    (in fact i have more).  but obviously he doesn't think this is fair at all 

fair can only be agreed between a couple, and it will be different for every couple.

FTBin2020

AskAsk said:

Sandtree said:

maman said:

50 : 50 and separate accounts works for us sandtree. Your question comes up frequently on many threads. It's more than money though as presumably, in the scenario you mention, conversations have been had and decisions  made about school runs and why one partner has such relatively limited earnings. This thread is more about practical organisation. 

I appreciate it is and didn/t really want to derail the question but the explicit point about doing it in a "fair" way is one I've always found interesting and in particular where couple do have a significant disparity in earnings. I personally find the idea of splitting the bills in whatever way and then "you keep what you earn" is a slightly odd way of doing things in a marriage/long term relationship and even more so if one earns 2-3 times the other persons income.

i think when the OP says 'fair', he means with clarity.  as an app can not make subjective decisions on fair split, lol.

the definition of fair has to be agreed between a couple, as everyone will have their own idea of what is fair.  i for example, think it is fair that my husband pays for everything even though i have as much money as him    (in fact i have more).  but obviously he doesn't think this is fair at all 

fair can only be agreed between a couple, and it will be different for every couple.

This made me lol

74jax

Sandtree said:

maman said:

50 : 50 and separate accounts works for us sandtree. Your question comes up frequently on many threads. It's more than money though as presumably, in the scenario you mention, conversations have been had and decisions  made about school runs and why one partner has such relatively limited earnings. This thread is more about practical organisation. 

I personally find the idea of splitting the bills in whatever way and then "you keep what you earn" is a slightly odd way of doing things in a marriage/long term relationship and even more so if one earns 2-3 times the other persons income.

Hubby earns around 5 or 6 times what I do, and we do it this way..., 😂 🙈