Product Review: Better Haves App

Saturday, September 26, 2015

When B and I got married we learned quickly that we spend and save money differently. Financial issues are a huge cause of stress in relationships so we wanted to tackle them head on. We sat down and looked at our numbers (income, fixed costs, miscellaneous, etc.) and decided how much we can spend and how much we should be saving each month.

At first our plan was for B to keep me updated and tell me when we're about to hit our spending limit for the month. That got really annoying really quick. I had to start asking him if I could spend money and it made me feel like I was back in high school asking my parents for money. We did some digging around and found the Better Haves app. I wanted to share my review on it in case anyone is in need of something similar. 

I just love their tagline, "Spend less time on finance, and save more for romance."
Better Haves is a free personal finance app that can be linked with other users to share a budget. It is based off of the "envelope budgeting system". Many people use this system with actual envelopes. It is used to control your spending; when you run out of money in an envelope, you stop spending. Here's how an envelope budgeting system works:

1. Determine your discretionary spending.
2. Decide on a budget.
3. Create envelopes and stuff them with cash. (Here's where the Better Haves app comes into play.)
4. Spend only what's in the envelope.
5. Save extra money or use to pay off debt.

The Better Haves budget app is great for us because it gives a visual on how much money we have left for the month. It has made me more disciplined with my spending and I've found I'm less likely to be wasteful with our money. For example, if we want to go out to eat but only have $50 left in our food envelope for the month, we stay in because we need to save that money for groceries for the following week.

Here's a screenshot of the app. My husband and I only use it for our discretionary money. We have three envelopes: food, gas and miscellaneous. Miscellaneous for us in anything from oil changes, vet bills, salon visits, clothes, etc.

iPhone Screenshot from Apple Store.
Pros:
 - Easily synced to my husbands phone. Just add an email.
 - Easy envelope setup
 - Easy to create budget
 - Gives you update of how much money is left for the month and the number of days. 

Cons:
 - Have to manually update app each month to add money in envelopes.
 - Doesn't capitalize first letter of expense details. (That's just annoying, but I might be nitpicking.)
 - Doesn't give a notice when it's synced and updated so that you can start adding expenses for the next month.

If you're looking for a budget app I would recommend Better Haves. It's marketed to couples, because of the syncing capability, but individuals can use it as well. It's available on Google play and at the Apple Store.

For more info on personal finance apps that could be right for you, check out this article from the New York Post.

2 comments:

  1. I'm just breaking in this app now, but I can't figure out how to edit our income? Doesn't give any instructions whatsoever lol. Any ideas?

    ReplyDelete
  2. I'm just breaking in this app now, but I can't figure out how to edit our income? Doesn't give any instructions whatsoever lol. Any ideas?

    ReplyDelete