Lifehacker: How Two-Income Couples Can Best Manage Cash Flow

Lifehacker: How Two-Income Couples Can Best Manage Cash Flow

Edward Shepard
January 30, 2018

Tiller Money was recently featured in a Lifehacker article about how two-income couples can manage cash flow without lumping everything together.

The article is based on a question from a reader who noted: “there must be a better way to leverage apps and automation, but the big budgeting apps don’t really have this feature.”

Many couples face this puzzle, even as every couple has different financial needs. As Eugene Park, creator of the Honeydue app notes, “the average couple maintains 16 different financial accounts.”

In the Lifehacker article, Tiller Money founder Peter Polson suggests using “the good old-fashioned budget spreadsheet,” (surprise surprise).

According to Peter, a shared, collaborative spreadsheet is ideal: “Both partners see everything. When they talk about money periodically, they can focus on the shared expenses: Are we making the right shared expenses? Is the balance right between the two of us?”

About this system, Alica Adamczyk writes: “The point is that it’s flexible: You can create your own budget sheets, or use Tiller’s templates. How you structure them and what categories you designate is up to you and your partner.”

Finally, Paul Bennett of The Money Navigator notes “If the couple finds they have too much cash in a joint account with an anemic rate of interest, it’s an opportunity to establish an emergency savings account to build up enough money to last for three to six months of expenses, if they haven’t already.”

There’s also a plug for Simple, which has a shared login.

The article concludes with a point we often make ourselves: “You can use an app, spreadsheets, or some combination of the two—whatever you find works best for you.”

Well said. Read the entire article on Lifehacker. →

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