Systems of two coupled bosonic species are studied using Mean Field Theory and Quantum Monte Carlo. The phase diagram is characterized both based on the mobility of the particles (Mott insulating or superfluid) and whether or not the system is magnetic (different populations for the two species). The phase diagram is shown to be population balanced for negative spin-dependent interactions, regardless of whether it is insulating or superfluid. For positive spin-dependent interactions, the superfluid phase is always polarized, the two populations are imbalanced. On the other hand, the Mott insulating phase with even commensurate filling has balanced populations while the odd commensurate filling Mott phase has balanced populations at very strong interaction and polarizes as the interaction gets weaker while still in the Mott phase.