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Financial Tips for Couples At Any Stage


  • Make a financial plan with your spouse or partner.
  • Manage your financial love life for each stage of your relationship.
  • Prepare how you tie the knot, go on a honeymoon, and have kids.

Listen up, lovebirds! Not to put a damper on your honeymoon phase, but did you know relationships break up more over money than anything else? Battling the person you love over a little green might seem silly, but it’s incredibly common. Our feelings about money are inextricably linked to deeper emotional values like security, control, status, success and freedom. It’s no wonder that with so many loaded emotions attached, a fight about money can cause a lot of pain for both parties.

The solution? Most psychologists agree that talking about money with your partner early (and often) is the best way to prevent future quarrels. Oh sure, you’ll probably still get into it every now and then, but knowing your partner’s stance on finance from the beginning can help you predict how well you’ll manage your money together down the road. So get started with this easy guide to the essential conversations you need to have with your significant other at every stage of your romance:

1-3 Months

Let’s be real: dating can be expensive! Begin a conversation with your partner about how you’ll split dinner and a movie on a Friday date night. Make a plan to split the cost at the point of purchase, Venmo each other later, or agree that one of you will grab the grub and the other the flick. And don’t worry about killing the romance—instead, just agree that if someone says, “My treat!” you’ll each accept the generosity.

6-12 Months

By this stage of your relationship, you’re just as happy to get takeout and put on Netflix as you are with a night on the town. But if your partner always wants to check out the hot new restaurant in the neighborhood while you need to pinch your pennies, you need to have a talk. Be open about how you like to spend your money and what your budget is. Talk to your partner about what you can each afford to spend on dates, and come up with some creative ways to spend time together that don’t require pulling out your credit cards.

1-2 Years

Vacationing with your boo is the best, but make sure you both know the other’s budget before booking that trip to Cancun. If you have different income levels, it’s especially important to set expectations around hotel costs, airfare and eating out while traveling. Having a candid conversation about what you can and can’t afford is so much better than having a fight because one of you booked a scuba-diving adventure the other can’t really swing. If you need to compromise on costs, taking advantage of credit card points toward flights, or traveling somewhere you can stay with friends, are both great options.

Moving In

This is where things get interesting! By now you’re probably pretty familiar with your partner’s financial habits and budget. But make sure you ask all the hard questions you’ll be facing as domestic partners before you move in:

  • What can you spend on rent?
  • What is your budget for new home items like furniture?
  • Do you believe in spending on the same splurges, or would one of you
    rather spend lots on groceries, while the other wants all the cable add-ons
    and a flat screen TV?
  • Should you open a joint checking account and credit card to pay rent and
    other shared expenses?
  • Who will be the main cardholder if you go that route?

Just Engaged

If you’re planning on having a traditional wedding, get ready for some major expenses! After you bask in the bliss of being just-engaged for a second, it’s time to sit down with your partner and plan out your wedding budget. Who is paying for what? Are your parents and in-laws contributing? What steps will you take together to make sure your big day stays on budget? Money woes right before you say “I do” are never a good idea. Better to have a plan and stick to it now than get in a fight later about who’s paying for Grandma Agnes’s dinner.

Nearly Married

Before you tie the knot, you need to have a major chat with your partner about your financial state of affairs. Being open and honest with one another about what you make, owe, and own is important—after all, once you’re married you’ll share one another’s debt (or riches). It’s not fun, but that can mean working together to pay off your partner’s debts. You should also make a financial plan for how you’ll manage your finances once you’re married. Will you be keeping your finances mostly separate or combining them into a mutual account? Will you be setting a cap on purchases that can be made without the approval of the other partner?

Tread lightly—these are the types of conversations that can have a lot of emotional baggage. It’s important to remain aware of your partner’s insecurities and approach the conversation with an open and empathetic attitude. This can be a great time to get a financial advisor involved. They’ll help you look at your finances objectively, take the emotion out the discussion, and work with you to put together an actionable plan.

Schedule a free consultation with a licensed financial advisor to make your plan.

Baby on the Way

Congrats! You have a baby on the way, and you’re excited about everything that the future holds for you and your growing family. Take this time while you’re still getting a full night’s rest to create a financial game plan with your partner. A little one is no small financial burden! How are you going to handle the additional cost now while planning for the tyke’s future? How much of your paycheck will you set aside for your child’s care and schooling? Will one of you become a stay at home parent? What are the financial implications of losing that income? Are you going to help fund college, or set up a 529 plan? Put your heads together and come up with a plan that includes all of these items.

Where to Begin

As you continue your lives together, you’ll only need to have more and more financial conversations. Luckily, setting the right foundation early on in your relationship means that it will be easier to have difficult financial conversations with your partner. Open, honest, and serious talks about money are a marker of a mature relationship with a bright future. Good luck!

The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.

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