Editor's Note: Recent reviews seem to indicate this app is no longer being supported. We will update this review if we learn more.
For couples that want to view their spending together in real-time and improve their financial communication, Honeydue can be a great solution.
By connecting checking and credit card accounts, couples can keep their personal spending private while viewing shared spending.
This can make keeping track of shared expenses very simple. Let’s take a walk-through of what Honeydue has to offer to help you decide if it's the right budgeting app for you and your significant other.
Quick Summary
- Free finance app for couples
- View shared transactions and budgets
- Joint checking with a cash card is available
Honeydue Details | |
|---|---|
Product Name | Honeydue |
Price | Free |
Platform | iOS, Android |
Features | Shared Budgets, Bills, and Checking Accounts |
Promotions | None |
Who Is Honeydue?
Honeydue is a financial app that allows couples to share a budget in real-time. The company behind HoneyDue is WalletIQ, Inc., which is based in San Francisco. WalletIQ was founded in 2017. Its founders are Eugene Park and Thien Tran. The company has raised $120,000 through a seed round.
“This is about tools, but more importantly, it’s about helping customers get on the same page,” said Park in an interview with PYMTS.com. “Our founding idea was that if you and your partner aren’t on the same page about spending or savings or your financial future, all the tools in the world won’t matter.”
What Do They Offer?
Honeydue is a free app. They make money through card interchange fees for those using the joint account option and tipping, which the app will periodically prompt for. Honeydue is only available as a mobile app. For those who prefer larger screens, you’re out of luck.
To get started with Honeydue, download the app, create an account, and connect your bank accounts. Honeydue will pull transactions from bank accounts and credit cards. You can also list a partner in the app. The app is separated into three areas — the two partners and an “All” section, where both partners can see shared transactions.
Shared Budgets And Transactions
Transactions that are shared and used in the shared budget have a red circle with rings in it. Transactions visible only by a partner will have the partner’s icon/picture next to them.
Even though there is a shared budget, each partner has a budget and can spend from their own account. The partner budget is updated to reflect any spending. Partners can tag a transaction as shared so that it goes into the shared budget. The other partner will see the newly shared transaction when viewing the “All” section.
There is a chat available within the app so partners can discuss specific transactions. Each transaction has space for chatting and adding reactions. Partners can choose to send money to each other as well. Honeydue auto-categorizes transactions, but you can add custom transactions too.
Shared Expense Calendar
The app also has a calendar feature for bill reminders. Bill related notifications will show up in the notifications section. Honeydue defaults to displaying all notifications. This can be a bit annoying since this can generate a lot of notifications.
Thankfully, you can adjust which bills you want to view. In the notifications section, you’ll also see information about spending. This may not be particularly useful since it's only able to show your spending on a monthly basis.
Shared Checking Accounts
Finally, Honeydue lets couples open a joint checking account, which comes with a Cash Visa Card. The Honeydue Cash VISA Cards are issued by Sutton Bank, Member FDIC. You’re able to lock the card at any time. It also includes instant fraud notifications.
What HoneyDue Lacks
Honeydue excels at allowing partners to view and monitor spending. However, it should be noted that there aren’t any savings goals features or other types of financial goals in the app.
The budgeting feature is also fairly simple. There isn’t any budget rollover feature, for example. Your budgets will reset every month, even if you spent less than you had budgeted in a certain category during the previous month.
Are There Any Fees?
No, Honeydue is completely free to use. This is a big deal as many budgeting apps only offer a few tools free of cost while reserving their most premium features for paying subscribers. But, for now, none of Honeydue's features are locked behind a pay wall.
Header | |  |  |
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Rating | |||
Pricing | Free | 96/year | Free |
Shared Budgets | |||
Shared Banking | |||
Platforms | iOS, Android | iOS, Android | Web, iOS, Android |
Cell | Cell |
How Do I Open An Account?
You can visit the Honeydue website to find download links to the mobile apps. There is currently no web version of Honeydue's budgeting software.
Is My Money Safe?
Yes - Honeydue is only connecting to your accounts. It isn’t able to withdraw money from them. Also, any deposits made into the Honeydue joint checking account are FDIC-insured.
Is It Worth It?
As a totally free app, Honeydue can certainly be useful for viewing and coordinating shared expenses. It could be especially helpful for couples that only need to share a few expenses rather than everything.
Additionally, Honeydue can be great for teaching your kids about financial responsibility. Parents can see spending, send money, and have discussions about spending. Also, Honeydue doesn’t restrict children to opening any specific account. Simply connect whichever account they are using to the app.
People who prefer to manage their budgets on a computer will need to look for a different budgeting app since Honeydue is only available on mobile. And couples that are just starting to build a solid financial communication framework, may want to hold off on using Honeydue as it could lead to more "spying" than "sharing."
Honeydue Features
Price | Free |
Budgeting | Yes |
Income Tracking | Yes |
Expense Tracking | Yes |
Joint Checking | Yes |
Third-Party Bank Integration | Yes |
Investment Tracking | Yes |
Credit Score Monitoring | No |
Bill Reminders | Yes |
Bill Pay | No |
Tax Preparation | No |
Import Bank Data Files | No |
Customer Support Options | Email and chat |
Customer Service Email | support@honeydue.com |
Platform | iOS, Android |
Promotions | None |
Honeydue Review
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Pricing and Fees
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Budgeting
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Auto Categorization
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Communication
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Accessibility
Overall
Summary
Honeydue is a mobile app that helps couples get on the same page with their finances by creating shared budgets and bill calendars.
Pros
- Download for free
- Share budgets and transactions
- Set up bill reminders
- Open a joint checking account
Cons
- Available on mobile devices only
- Limited spending analysis
- No rollover-budget option
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared toward anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications, including the New York Times, Wall Street Journal, Washington Post, ABC, NBC, Today, and more. He is also a regular contributor to Forbes.
Editor: Clint Proctor Reviewed by: Claire Tak