094 - How To Do Your Joint Finances With Your Partner
In this episode of the Mind Money Soul podcast, I’m going to be sharing 4 top tips on how to manage your finances with your partner.
Money can be a huge issue in relationships and it’s one of the main reasons why people break up. Research in the UK shows that 17% of couples argue about money at least once a week and 5% argue about finances every single day - how tiring is that! These arguments don't necessarily arise from a lack of money but rather from discussions and disagreements about financial matters, such as how to divide the bills or how you manage your own spending. The underlying issue is that it will make you irritable, put you in a bad mood, and cause you to struggle with your mental health, all of which will affect your relationship.
In this episode, I'll address some of the financial issues couples face, how to navigate them, and how to set yourselves up for success in managing money within your relationship. Open and honest conversations about money are crucial for maintaining a healthy relationship. Finances are an ongoing aspect of your partnership, and if you can't have these discussions now, imagine how challenging they will be when you're married, having kids, or buying houses.
In this episode:
The main reasons couples argue about money
How to fairly split bills in your relationship
Essential financial conversations to have with your partner
The impact of the cost of living crisis on relationships
4 tips for managing money with your partner
How to decide on the right time to get a joint account
Resources
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