Lumio is a money management app created for the modern couple.
With Lumio, you can automatically track all your shared expenses, bills and accounts in one place. Helping couples work together to coordinate household bills, save money on wasteful subscriptions and save money, together.
Most couples spread their shared expenses across their personal bank accounts, credit cards and Joint accounts. We designed Lumio to provide couples with a single source of truth regardless of where you spend.
With Lumio, you have two spaces to manage your money:
🙋 Private Space - Where you can track all personal spending, bills and accounts - and share any of them to your Shared Space.
🧑🤝🧑 Shared Space - Where you can track all your shared expenses, bills and accounts in one place.
Both Spaces have 4 Tabs:
Home: Highlighting the key balance and spending information you want to see.
Spending: This has sub-sections including: Total Spent, Everyday Spending (e.g. groceries, Amazon etc.), Recurring Costs, Cashflow, and IOU Tracker
Transactions: This is a full list of the transactions associated with this space - which you can share or unshare.
Accounts: Accounts linked to that space, Net Worth, and Assets & Debts
Home Screen Tab
Your Home tab of Lumio is a snapshot of all your finances for the space you are in. It will include:
Checklist to complete to get set up with Lumio
'For you' section - snapshot of the latest insights for you to review.
Snapshot of all your balances
Latest Transactions
Upcoming Bills
Spending Tab
Total spent - the total amount of shared spending linked and shared to that space.
Everyday Spending - the total amount of discretionary spending for that space. This could be groceries, Amazon, dinner or a trip to the cinema.
Recurring Costs - Any regular payment, bill, subscription or direct debit in that shared space.
I Owe You Tracker - This tracks the contributions if both partners and your Joint Account spending so you always know 'who owes whom what' and how much.
Net Worth Tracker - You can filter any account in or out of your net worth, and even review you progress over a 3 year period
Here's how to get started with Lumio:
Create a Lumio account.
Invite your partner.
Connect your main personal bank account that you spend from. Here's how to connect an account to Lumio.
Connect any active Credit Card that you spend from.
Connect any active Joint Account to Lumio.
'Mark it' as a Joint account.
'Link it' to your Shared Space with your partner.
Learn more about connecting a Joint Account to Lumio here.
Set your cycle in Spending to sync to your payday so you have a clear picture of your Income vs. your Spendind. You can read how to do that here.
In your Private Space, you can now begin to share any shared bills or transactions to your Shared Space - so you have a single source of truth for all your shared spending as a couple. You can learn more about that here.
Add any Recurring Costs to your Private or Shared Space. Learn more about Adding Recurring Costs here.
Finally, at the top of your Spending tab Adjust the Ratio of your IOU Tracker, so your spending split is fit for you as a couple, and you always know exactly where you stand.