Money Together
6 guides · 1 article
Money and Shared Finances
GuideTestBudgeting and saving as a coupleCouples who make money decisions together tend to have fewer money problems and be happier, so start by agreeing how you'll decide and what you're saving for. Aim for about three months of expenses for emergencies, and save for shared goals with a written target, an automatic transfer and small milestones.GuideTestDebt and money stressMoney stress tends to strain a relationship most when partners feel unhappy about their finances. Talk about money early and openly, put your income, spending and debts side by side, and ask a free financial counsellor for help if it feels too big to handle alone.GuideTestJoint or separate accountsThere's no single right setup. Pooling some or all of your money is common and linked with closer relationships, but the link isn't proof. Worth settling: you can both see and reach the accounts, the split feels fair to each of you, and you've agreed what each of you can spend freely.GuideTestMoney and familyBefore you say yes to a relative's request, work out what you can give without going short, agree it with your partner, and decide whether it's a gift or a loan. With children, talk about money openly, let them see you handle it, and give them small chances to practise.GuideTestPlanning your financial futurePlan your money together: pick a calm time, share the full picture of income, debts and savings, agree a few shared goals, and build the budget as a pair. Expect to revisit big decisions, so put a check-in in the diary every few months.GuideTestTalking about moneyMoney talks are harder than most, so plan them: pick a calm time, listen as much as you talk, and take a break if things heat up. Different money styles are common, and deciding together matters more than any one setup. Aim for plenty of openness, built up gradually.
