There’s no handbook for how couples should manage their money effectively because, well, each couple wants different things out of life. Still, there are ways to grow your money together while keeping arguments to a minimum.
Then start making a list of your individual expenses, the kind that you each pay independent of the other, such as gym memberships, gifts for family members, and how much money you tend to spend on the things you want.
Let’s face it; not everyone comes into a relationship with all the financial know-how. Rather than expect the more free-spirited person to become the master of spreadsheets, think about how they can best contribute to the financial relationship.
By creating buckets, for example, using the 50/30/20 rule (50% on needs, 30% on wants, and 20% to savings), you can start effectively planning with your money rather than just saving and spending sporadically.
Taking the time to learn each other’s money stories and how their attitudes developed over the years can help couples build intimacy and understanding. There are fun ways to learn each other’s money stories.