Lumio is a financial management app tailored for couples looking to simplify their shared expenses, savings, and budgeting. By connecting all financial accounts into a shared space, Lumio offers tools to track, split, and organize finances without needing joint accounts. Whether managing household bills, shared subscriptions, or saving for future goals, Lumio empowers couples with actionable insights and seamless collaboration.
Features
- Shared Financial Space
- Track shared expenses, balances, and net worth as a couple without needing joint accounts.
- Split Expenses
- Automatically calculate and settle shared bills and expenses based on customizable split percentages.
- Expense and Subscription Tracker
- Categorize and monitor all household spending, identifying areas to save or cut unnecessary costs.
- Multi-Account Connections
- Connect over 100+ bank and credit card accounts for real-time synchronization and updates.
- Interactive Insights
- Visualize monthly spending trends, shared savings progress, and categorized expenses through interactive charts.
- Private & Secure
- Uses bank-grade encryption and complies with FCA regulations for maximum data security.
How It Works
Users start by inviting their partner to join Lumio, then connect their financial accounts to a shared space. Lumio automatically tracks expenses, categorizes transactions, and splits costs based on pre-set percentages. The app provides real-time insights into shared financial health, ensuring transparency and reducing potential disputes.
Use Cases
- Couples Managing Household Bills
- Simplify tracking and splitting rent, utilities, and groceries.
- Shared Savings Goals
- Collaborate on saving for vacations, home purchases, or long-term plans.
- Non-Joint Account Users
- Perfect for couples preferring individual accounts while maintaining shared financial clarity.
- Expense Optimization
- Identify wasteful spending on shared subscriptions and recurring payments.
Pricing
- Free Trial: Access to basic features for a limited time.
- Premium Plan: £4.99/month or £39.99/year for full access to all features, including advanced tracking and insights.
Strengths
- User-Friendly for Couples: Tailored for managing shared finances without requiring joint accounts.
- Comprehensive Insights: Provides detailed expense breakdowns and savings recommendations.
- Secure and Reliable: Backed by bank-grade encryption and FCA compliance.
Drawbacks
- UK-Focused: Primarily designed for users in the UK, with limited global financial connections.
- Subscription Costs: Advanced features require a premium plan.
Comparison with Other Tools
Unlike apps like Splitwise, which focus on splitting individual expenses, Lumio integrates with financial accounts for automatic tracking and real-time insights. Its emphasis on shared savings and household expense management makes it uniquely suited for couples.
Customer Reviews and Testimonials
- Rory R., App Store User: “Shared space gives us an instant snapshot of all our spending. Super simple and effective.”
- Pritti X., Play Store User: “Smarter than spreadsheets and faster than any other app for finding and tracking bills!”
- Lucy H., App Store User: “We keep our own accounts but track shared bills—Lumio makes it seamless!”
Conclusion
Lumio redefines how modern couples manage shared finances by offering a seamless, secure, and user-friendly platform. Whether splitting expenses or saving together, Lumio ensures financial clarity and harmony.
Visit Lumio to start managing your shared finances today.
