The Best Money-Saving Banking App for Newlyweds

newlywed savings
Being on the same page financially as a couple is key

Sponsored by our friends at Hitched.

Having been married for over a decade now, I can say with absolute certainty that one thing we almost never disagree about is money. The fact that I hate to do dishes or that my husband’s socks never quite make it into the hamper? Well, yes. But when it comes to the big issues like money we are, thankfully, always on the same page. I credit a lot of that to our personalities, but we also made sure that we were open and transparent about finances from Day 1. Even with great communication, however, there is always room for improvement when managing finances as newlyweds. 

Why Money Saving Apps Are So Important

One of the biggest complaints we hear from couples is that there is a lack of transparency around what their shared monthly expenses and savings goals are, and I can totally relate. For instance, when we opened a joint banking account as soon as we moved in together, our bank never offered a way to track our shared and individual expenses, or set savings goals. And when we did try out one of the few available popular budget trackers online, I personally found the process to be confusing and cumbersome. 

Obviously this doesn’t help couples who aren’t sure how to communicate about money in the first place. Which is why it comes as no surprise that 35% of couples blame finances for their marital stress, something that experts say you can change given the right tools and mindset.

Thankfully, there are more money saving apps available than ever before. However, few of them are focused exclusively on couples. One app is helping to change that: Hitched.

Hitched offers digital-first joint checking and savings accounts for new couples, and makes it easier to manage your money together and save. 

hitched savings app
Hitched lets you set specific savings goals for vacations, down payments, or even date nights.

How to Use the Hitched App

Banking with Hitched is beyond easy, and it comes with a myriad of features to help you stay on top of your finances. Here’s how it works:

Step 1: Discuss Your Savings Goals

Sit down with your partner and have an honest conversation about your savings goals. Do you want to save for a home down payment, a vacation to Aruba, or both? Hitched offers an easy-to-use Budget Calculator that will help give you transparency into where your money is going every month, and how much you can realistically save. By figuring out your monthly income as it compares to your fixed expenses, flex expenses, and loan payments, you’ll be armed with the knowledge you need to make the best financial decisions.

hitched savings app
Use Hitched’s Budget Calculator to set up realistic monthly goals.

Step 2: Create a Joint Account With Your Partner

Sign up for a joint savings and checking account with Hitched, and invite your partner so you can both take advantage of tiered interest rates along with no minimum balance or monthly maintenance fee. 

hitched savings app
Track your goals using Hitched’s money saving app.

Step 3: Track Your Progress

Use the Hitched Banking App to create shared goal folders in your joint savings account, such as for a new car, vacation, or down payment. As a digital-first bank, Hitched’s money saving app will give you the tools you need to help you save and track your goals, along with the security and protection of a traditional banking institution—that’s because banking services are provided by Iroquois Federal Savings and Loan Association (which has been providing personal and commercial banking solutions since 1883), member FDIC. Rest easy knowing your Hitched funds are insured up to the standard FDIC maximum deposit.

hitched savings app
Hitched’s “Round Up” program will help you save while also matching your contributions 100% up to $100 within your first 90 days.

Step 4: Maximize Your Savings

Save even more by choosing the Hitched Round-Up Match feature to contribute to your goals. When you use your Hitched debit card for everyday purchases from your joint checking account, Hitched will round up your transaction to the nearest dollar and deposit the extra into your savings account. What’s even better is that for the first 90 days after opening your account, Hitched will match 100% of round-ups, up to $100.00. After 90 days, Hitched will match 25% of round-ups, up to $20.00 per 30-day period. (See full terms here.)

You can also apply for a Hitched credit card, and earn up to 4X points on everyday activities, like going out to eat (or ordering in), grocery shopping, and more. 

Whether you’re figuring out how to save money for kids, a honeymoon, or your future retirement, Hitched makes it easy to do it together with digital-first joint checking and savings accounts for new couples. 

Ready to see what they’re all about? Click here to learn more about Hitched and start saving (and spending) wisely.

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