About
Lumio is a couples finance app that brings shared and personal finances into a single, beautifully simple dashboard. By leveraging secure Open Banking technology, Lumio connects to your existing bank accounts and credit cards without ever storing your login credentials. Partners can each decide precisely what to share — from individual transactions and recurring bills to account balances and net worth — making it flexible for couples who maintain separate finances but want visibility over shared costs. Key capabilities include automatic expense sharing and IOU tracking, bill and subscription discovery with price alerts and cancellation tools, cashflow analysis, and a combined net worth view that accounts for assets and debt across both partners. Lumio eliminates the need for manual data entry, complex spreadsheets, or apps like Splitwise that require tedious logging. Everything is calculated automatically, reducing the friction and awkward conversations that often accompany shared household finances. Lumio is ideal for couples who keep separate bank accounts or credit cards but share household bills, rent, groceries, or other recurring costs. It also supports investment account aggregation so partners can get a full financial picture together. With bank-grade 256-bit TLS encryption and a strictly read-only connection to your accounts, Lumio is built with security at its core. Whether you're newly living together or long-established partners looking to get financially organised, Lumio offers a smart, low-effort alternative to traditional budgeting tools.
Key Features
- Shared & Private Spaces: Each partner controls exactly what financial data they share — from transactions and balances to bills and spending history — with full privacy over everything else.
- Automatic Expense & IOU Tracking: Share expenses with your partner and automatically track who paid for what, eliminating manual data entry and mental maths.
- Bill & Subscription Management: Automatically discovers all your household bills and subscriptions, sends price alerts, and helps you cancel unwanted recurring costs.
- Account Aggregation & Net Worth: Connect bank accounts, credit cards, and investments for both partners to see a complete financial picture including assets, debt, and net worth.
- Secure Open Banking Integration: Uses bank-grade 256-bit TLS encryption and a read-only Open Banking connection — your login credentials are never seen or stored by Lumio.
Use Cases
- Couples living together who use separate bank accounts and credit cards but want to track shared household bills and expenses in one place.
- Partners who want to split recurring costs like rent, utilities, and subscriptions without manually logging every transaction.
- Couples looking to identify and cancel wasteful subscriptions or negotiate better rates on household bills.
- Partners who want a combined view of their net worth, including investments, savings, and debt across both individuals.
- Couples who want to avoid money disagreements by maintaining transparent, automatically tracked records of who paid for what.
Pros
- No Manual Data Entry: Lumio automatically imports and categorises transactions from connected accounts, saving significant time compared to spreadsheets or apps like Splitwise.
- Flexible Privacy Controls: Partners can fine-tune exactly what they share, making it ideal for couples who maintain independent finances while splitting household costs.
- Comprehensive Financial Overview: Combines spending, bills, cashflow, and net worth in one place, giving couples a complete shared financial picture across multiple accounts and institutions.
Cons
- Limited to Couples: Lumio is specifically designed for two-person households, making it unsuitable for flatmates, families, or group expense splitting beyond a couple.
- Open Banking Dependency: Full functionality depends on bank compatibility with Open Banking, which may limit coverage for users with less common financial institutions.
Frequently Asked Questions
How does Lumio connect to my bank accounts?
Lumio uses secure Open Banking technology developed in partnership with banks. It is a read-only connection, meaning Lumio can view your transactions but cannot move money. Your bank login credentials are never seen or stored by Lumio.
Can my partner see all my transactions?
No — you have full control over what you share. You can choose to share specific expenses, bills, balances, or transaction histories, and you can update your sharing preferences at any time.
Do we need a joint bank account to use Lumio?
No. Lumio is designed for couples who keep separate bank accounts or credit cards. You can connect your individual accounts and selectively share household-related costs without needing a joint account.
How does Lumio compare to Splitwise?
Unlike Splitwise, which requires manual expense logging, Lumio automatically imports transactions from your connected accounts and calculates shared costs for you, greatly reducing the administrative effort.
Is Lumio free to use?
Lumio offers a free tier to get started. Premium features may be available via a paid plan — check the Lumio website for current pricing details.
