Let’s face it, managing two incomes and two sets of expenses separately can be a headache. However, with Zeta’s seamless interface, you can easily upload your account information, start managing your household’s money, and plan your financial goals right from your desktop or mobile phone. If you and your significant other are ready to manage your finances together, then the Zeta app might be the perfect money management tool for you.
What Is AskZeta?
Simply put, Zeta is a money management tool for the modern-day couple. Much like other money management tools, Zeta connects with your bank accounts. But it also connects with your partner’s, so you can easily manage your finances together. The Zeta app is specifically for couples, meaning there are no workarounds. The goal is that you and your partner manage your finances together and plan for your financial future.
Most importantly, Zeta is free. However, if you want to add extra features such as accessing their money coaches, you will have to fork over a tad bit of cash. But you can use the service to manage your partnership finances for nothing.
How Does the Zeta App Work?
AskZeta is pretty straightforward to use and took minimal time to set up. Essentially, you follow four main steps to set up and use Zeta:
- Sign up for Zeta and add your bank accounts.
- Invite your partner to do the same.
- Manage your money — Zeta will help you manage your bills and send you updates on where your money is going.
- Plan your financial future together by setting goals.
My favorite feature of Zeta is the ability to choose what you show your partner. As a solopreneur, I have my business and personal accounts through the same bank, meaning when I connect them to a financial app, the app sees everything. As much as I love my partner, I prefer to keep my business finances separate from any joint finances. So getting to choose what someone sees is vital to me. Likewise, if you have any financial things you’d rather keep on the D-L, Zeta can help you do just that!
The Security Question
When it comes to connecting accounts, my concern is always security (for the obvious reasons). Fortunately, Zeta uses bank-level security through an audited, regulated, and vetted third-party service, Plaid, used by other big-named financial apps like Robinhood and Betterment.
While I won’t bore you with the intricate details, I will let you know that Zeta cannot move money around in your accounts. It also can’t store your login information, so when it comes to being secure, you’re golden. You can learn the finer details of Zeta’s security in their security manifesto.
If your partnership goes awry — which hopefully it doesn’t — Zeta has a breakup feature. This feature allows you to instantly cut access to your account for your partner for a quick financial break!
Does It Work?
Full disclosure: I’ve only been using Zeta for a short amount of time, so I will admit that my long-term knowledge is somewhat limited but so far so good. As I mentioned earlier, my favorite feature is the fact that I can choose who sees what. But I also find the interface both pleasant and easy to use. The set-up process is smooth enough that even the least tech-friendly of our partners should be able to get it going. Most importantly, it genuinely lets you track your finances.
The biggest drawback I can imagine is if your partner isn’t comfortable with online money management. Not all modern couplings are a full tech-friendly partnership. So, if yours is not, Zeta is probably not for you (that or your partner might simply need convincing).
A Few Other Fun Features From AskZeta
Not only does AskZeta provide a tool for co-managing your finances, but they provide resources for couples. They include three quiz-type resources that help you determine the current financial health of your relationship, your different financial personalities, and how to have money-related conversations, along with a budget tool and a resource that provides a guide to combining your finances.
Now, I don’t know about you, but I’m not personally big on quizzes. But there are two other helpful resources, so let’s talk about them in greater detail:
Zeta’s Guide to Combining Finances
If you and your partner are new to combining your financial resources to live your best life together, then AskZeta’s Guide to Combining Finances is the perfect tool for you. Their handy-dandy guide walks you through major combined money management principles that you might not think of on your own.
For instance, there are different models for combining your finances, things you should consider before doing so, managing varied finances (like if you have a single income), and marriage-related laws that impact your personal and combined finances.
Zeta’s Build A Budget For Two
Building a solo budget can be a challenge of its own. However, when you’re combining financial forces, you need to consider several new elements. I quite liked their budget builder. One downside is that you do have to base it off your monthly income rather than weekly or biweekly.
And it takes more than the 20 minutes they claim, but that was likely because I had to dig for some expenses. If you have the information for both you and your partner readily available, 20 minutes is probably more accurate.
Is the Zeta App for You?
While Zeta allows you to decide what your partner does or does not see, if you are not at a point in your relationship where you’re ready to share financial information, then it’s not a tool for you. Zeta is for serious modern-day couples looking for a tool that will allow you to manage your money together.
If you and your significant other are operating as a financial partnership sharing expenses, the Zeta app can help. It not only lets you keep tabs on your money, but it also has tools that allow you to optimize for your financial goals.
Get started managing your finances together with the Zeta app here.
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