Are you and your partner a financial match? Here’s how to tell
Published 14 February 2019
The stars are aligned, but are your finances? Read on to find out if you and your partner are financially compatible.
You agree on what films to watch, you agree on where to go for dinner, but do you agree on money matters?
20% of people say that money is the biggest cause of disagreements in their relationships. But does relationship compatibility depend on financial similarity? We don’t think so.
So let’s take a look the signs that you and your partner are a financial match, and some tips to get your finances in sync.
Notice their spending habits
We all give off clues into our financial situation without realising. Our choices of places to eat, clothes to wear and activities to do all build up a picture of what we’re like with money.
Picking up these hints from your partner will help you work out whether they’re a spender, a saver or a bit of both.
But don’t worry if your money habits differ – you could learn new ways to manage money from each other.
Talk about money
If you and your partner are comfortable talking about money, you’re on the right track.
Knowing how you both feel about money simplifies managing household finances. Especially if you’re getting ready to make a big decision together. So if you’re opening a joint account or buying a house together, make time to talk about your financial worries first.
Yes, talking about money feels weird. But being open with each other about your financial circumstances could prevent arguments over money in future.
Set financial goals together
Setting financial goals forces you to think about how your finances fit together. Start by saving a few pounds each week towards something small (like a special meal out). Decide together how to save the money, and put the cash you’ve saved in a separate account or a jar.
Financial goals don’t have to be big or serious. Whatever you want to save for, working towards a shared goal shows your views on money line up.
Budget better with the thinkmoney Current Account
Even if you have similar views on money, managing household finances can be stressful. The joint thinkmoney Current Account is here to take that hassle away. Money for your bills is held separately so you know exactly how much you have available to spend.
Open your account today to simplify shared finances.