A couple that manages their money together, grows together! While talking about finances with your partner does not seem so romantic, it is an important factor to maintain a healthy relationship.
Here are four tips for taking care of the budget while being in a relationship:
Talk openly about your financials or any lurking debt. Even though it's hard, this will help you decide how to split things and which expenses you should share. But it's also important for the health of the relationship. You don't wanna be in for a surprise in the future!
Talking about your money goals will help you keep accountable and to plan out any joint finances better. Also chat to each other about your common goals! This will motivate you to save up together and achieve your goals faster.
If you start to share many expenses or are living together, you can use a joint account where both of you can put in money each month to take care of the shared costs.
Note that this doesn't mean you have to ditch having separate accounts.
No one should feel like they shouldn’t have as much say in the relationship just because they're earning less. A good way to keep things equitable is to split costs based on your % of total earnings, or you can agree on basic bills, e.g you pay for a fancy dinner and they can pay for gas.
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