Money is the #1 topic that causes fights between couples. When you’re not on the same page financially, it can cause a lot of stress on your relationship- but it doesn’t have to! Today I’m sharing some tips for managing your finances as a couple.

Decide Who Does What

Every couple is different, but decide who will handle the budget and who will handle the bills. Sometimes one person can do both of these things, sometimes you can split the bills, etc. Find what works for you! At the beginning of each month, I’ll sit down and look over how we did the previous month. We use the 50/30/20 Rule to budget (I explain it in this post!) . I use Mint to set budgets and monitor how we’re doing throughout the month.

Need some guidance for making your own budget? Check out this post.

I have a notebook specifically for our finances, and at the end of the month I’ll write out our categories and fill in how much we spent. I’m just one of those people that likes a written record.

If you find that you’re spending too much in one area, sit down and talk about what changes need to be made. From there, adjust your budget for the next month/decide what needs to be done differently and you’re good to go.

Big Ticket Purchases

My husband and I always talk about big ticket purchases. I would never want him to log in to our account and see that I spent $200 at X store and not have him know what it was for. He does the same for me. Don’t be mistaken- we’re not asking each other for permission to make purchases. We’re simply keeping open communication so that both of us know where our money is going.

If Andrew texted me from the golf store and said he really needed a new driver and there was one on sale, of course I would say go for it, as long as we had room in the budget. It’s really just being courteous and respectful of one another, and I love that we do it.

P.S. Husband, this is not a sign for you to go to the golf store.

Our Money

Once we got married, everything became ours, not yours and mine. Regardless of how much each of us make, we don’t keep track of who earns what or who buys what. Marriage means that it’s shared equally.

This is where a lot of tension can develop between couples. You should never keep a record of how much you or your significant other is spending compared to how much you bring in, etc. (in my personal opinion). This isn’t to say that if one of you is a huge spender and the other is very frugal, you should just let it go. You need to both be on the same page, and be living within your means.

If you’re not married and have even the slightest bit of hesitation about opening a joint account or sharing a credit card with your significant other, please don’t do it. In the event that you split up, separating finances and assets is a huge mess. If your significant other racks up credit card debt and your’e both on the card, you’re equally as responsible for it even though they did the spending.

Talk About Goals

Creating financial goals together is something that will bring you closer together and help you envision your future.

When we sat down and said okay, we want to save for a house, it opened up a conversation about where we wanted to live, what kind of house we wanted, etc. Call me crazy but to me, this is fun! I love talking about the goals and dreams we have. Having a set goal that you’re working towards together gives you a sense of unity as a couple.

I hope these four points have given you some insight about how to manage money as a couple. My biggest piece of advice that holds true in each of these points is be open and honest with each other. Don’t hide receipts, don’t hide debt. Maintaining open communication is one of the biggest keys to a successful marriage.

If there’s anything specific you’d like answered regarding managing money as a couple, I’d love to help! Just drop me a comment below.

Looking for more budgeting tips? Check out these popular posts!

A Simple Guide on How To Make A Budget – with free downloadable printables!

Tips for Eating Healthy On A Budget – meal planning tips, grocery shopping hacks and more!

Thanks for reading,

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