And it was 3x over any other app or service. “18 per cent of couples that we surveyed are using spreadsheets. “If financial literacy is bad in this country, spreadsheet literacy is almost as bad,” says Park. The team also found the most used existing application for couples to manage their finances together is spreadsheets - hence spying an opportunity to build something better. And two, their account balances so that they don’t go under certain minimums that result in monthly fees.” “And so these folks, they’re very sensitive to two things: one is the actual timing of when to pay their bills. “The top four banks in this country are charging $6.4BN in bank fees - whether they’re late fees or overdraft fees - and so I have to imagine, I don’t any data to prove this, that that money is coming from some of the most vulnerable parts of our culture,” he continues. And for that reason that’s why they’re not autopaying it.” And are having to make a very difficult decision of which bill to pay.

“e took a deep dive into it and I think the narrative that’s emerging is… 75 per cent of Americans generally are living paycheck to paycheck.

“We thought, maybe it’s because we live in this Bay Area bubble where everything’s being auto-paid, but why do people want bill reminders? “We were shocked,” he says of this appetite for bill reminders. Sixty per cent of users who sign up to use the app now create at least one bill reminder during the onboarding process, according to Park. The founders surveyed 600 couples to help spec out the app’s feature set, and the research threw up a few surprises - such as how much demand there was for a bill reminder facility. “We believe all of them should be co-managing their money together and certainly co-developing their financial literacy habits together,” he says. The target user is typically in the Millennial age-range - with Park noting there are some 32M Millennials now living with a partner.

And it sort of hit us - with all of these basic tools that are out, there if couples like us can’t get on the same page with money then these tools really don’t matter.” “When we started this project both were living with our partners and arguing, from time to time, with our partners about money. “My co-founder, Thien Tran, and I are pretty passionate about personal finance and helping others develop better financial habits and literacy,” Park tells TechCrunch, explaining how the idea for the app came about. The app also lets couples stay on top of money matters in other ways, such as being able to comment on individual transactions and manage bill reminders together - so they can, in the words of co-founder Eugene Park, “be on the same page” about money. Honeydue is a mobile app that aims to reduce money-related arguments between couples by offering tools to share information on respective account balances and spending.

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