16 Couples Shared Their Tips For Managing Money In A Relationship And They're Super Insightful
"Even though money is complicated it was great to see we can handle it together."
From figuring out who pays on a first date to setting a wedding date, the way you handle money in a relationship changes over time. And no two couples split the bills or manage their accounts in exactly the same way.
So I asked the BuzzFeed Community to share what works for them when it comes to managing finances with their partner. And the responses were full of practical tips for dealing with your cash as a couple.
What works in one relationship might not work in yours, but even just seeing how other couples manage money might inspire you and your S.O. to fine-tune your system.
Here's what people had to say:
1. If there's a difference in your incomes, you don't have to split the bills 50/50.
2. And if splitting every bill isn't your thing, you could try taking turns paying.
3. Opening a joint account before you get married can be a good way to make sure you're financially compatible.
4. Setting up a shared account for any bills you're splitting can streamline the payment process.
5. Shared accounts can also make it easier to be super transparent about where all your money goes.
6. If you do share accounts, it might be helpful to set a spending ground rule, like always talking about purchases over a certain amount.
7. Or you might prefer setting an allowance for personal spending.
8. Keeping separate accounts can totally work, but communication 👏 is 👏 essential! 👏
9. A combination of joint and personal accounts can help you tackle shared bills and goals, without necessarily having to share eeeverything.
10. If one of you is a spender and the other is a saver, keeping some money separate might work better for you.
11. The way you balance finances in your relationship can change with your circumstances, like if one of you is in school.
12. Find ways for both partners to be involved in financial decision-making, even if you're living on a single income (like if one of you becomes a stay-at-home parent, for example).
13. Making a budget together is a great way to make sure you're both on the same page.
14. Help each other out, and play to your strengths! If one partner has special knowledge about something, like investing, then they can take the lead in that area.
15. Talking about your goals and making a financial plan together can actually be a great way to bond.
16. And finally, there's no right or wrong way to handle money a relationship. The best approach is to just do whatever actually works for you and your partner.
Submissions have been edited for length and/or clarity.