Episode 17: How to manage money with a partner

Mar 16

Sharing finances with your partner can be one of the most rewarding experiences in your relationship. Money can connect you and your partner and help you achieve financial goals faster, but it requires an intentional and thoughtful approach. Mishandling money can lead to stress, fights, and awkwardness in your relationship.

Despite income disparities that may arise, establishing shared trust, support, and goals allows you to work together toward building a mutual life. This teamwork can lead to faster achievement of financial goals and a wonderful partnership both in the world and in your money. So if you want to manage money with your partner without fighting or awkwardness, tune in to this episode where I'll teach you how to get on the same financial team. Learn the number one thing to decide on and four tips to discuss and manage money with ease openly.

Key highlights

[00:00:00] Introduction to what today’s episode is about

[00:00:41] Benefits of managing money with your partner

[00:01:08] First thing that you and your partner need to decide on in your financial lives: Individual money versus shared money

[00:02:03] Having a candid conversation about financial expectations from each other

[00:03:25] Ways you can choose to merge and share your money with your partner

[00:03:31] #1: Choose to keep everything separate

[00:04:58] #2: Share your joint lifestyle expenses only

[00:05:44] #3: Combine everything

[00:08:17] Four tips for managing money more successfully and with more ease in your partnership

[00:08:26] #1: Set up your system and play to your strengths

[00:10:00] #2: Always be transparent

[00:12:20] #3: Schedule money dates

[00:12:59] #4: Make sure each of you has a no-questions-asked number

Notable Quotes

Money can bring you closer to your partner and help you achieve financial goals faster, but only if approached thoughtfully. Mishandling money can lead to stress, fights, and awkwardness in your relationship.
Clear communication about financial expectations is crucial in building a shared life with a partner. Without it, confusion and resentment can fester. Money is a shared responsibility that requires understanding and mutual agreement.
Financial equality in a relationship is powerful because money is a source of power in the world and relationships. It allows both partners to live a similar level of life, regardless of income disparity.
Work on your money together to achieve financial equality and teamwork in your relationship. Set up a money system that clarifies shared versus individual money.
To achieve full financial transparency, establish trust with your partner by conversing about how you will handle your money and clarifying expectations.
If you're managing money with your partner, I hope you found this episode helpful. Don't forget to start your free Money Map training at The Holistic Money Course to create a shared system and language for managing money together.