How to Manage Your Budget as a Couple


They say money can't buy happiness while this might be true on some level, it will often have an influence on our personal relationships, especially our romantic lives.

How we negotiate joint incomes is not only important for our material well being, it can also be crucial for maintaining a healthy long-term relationship.

We are a long way from the times when a family had a single income earner. Nowadays it's important in the relationship to bring up questions about the other's finances, loans, and debts. It can say a lot about their character and what your future together will look like.

If for some reason you happen to overspend your own budget and you wish to get out of this mess by yourself, you could find a suitable loan company. It matters which loan company you pick. If you're not sure which company is the best for you, Monily is a website which will connect you to the loan company based on your needs and current financial situation.


There is no doubt that managing your budget as a couple is challenging, so here are some tips on how to successfully take care of this daunting task.

Individually and as a team

Chances are that one of you will have a bigger income than your so. At some point, you will have to decide if you're ready to combine your income and expenses or you wish to keep things separate. There is no right or wrong way to manage your money. It might take many trials and errors before you decide which method of budgeting suits perfectly for your lifestyles.

A good place to start as a two-income couple is to keep individual accounts where each one of you can maintain your assets.

An account for shared expenses

If casual payments are not your thing, you could fund a joint account for shared expenses. And if the monthly bill goes up during the cold season, you can chip in from your personal accounts.

This will ensure that none of you feel like you have to use “his or her language” for your shared home or other properties.

The thing is, life is mostly unpredictable if you're not married and get hit with a bad break up, personal accounts will ensure that none of you leave with the other one's savings.

Avoid these common budgeting mistakes:

  • Not recording your monthly expenses. While it might not be such a big deal to not record everything if there are just the two of you debt-free birds, if you're serious about keeping track of where your money goes, budgeting is a must.
  • Miscommunication. However you decide on managing your expenses, make sure that both of you agree on the strategies you choose. If you have a committed relationship, it's important to make it into a habit to discuss the things you think are important for the other person to get on board with.
  • Not getting clear on your goals. One great way to get a sense of your partner's financial mindset is to discuss their long-term commitments and wishes. Do they want frequent vacations? Are they looking at changing their occupation? Do they want a big family? The answers to these questions will give you a clearer picture of your future financial situation.

To sum it up by being open about your finances, future expectations, and current habits, you will strengthen your long-term relationship and have a clearer picture of your shared life in the future.

What do you think is a good way on how to manage your shared expenses? Comment your advice below.

JL Santiago Aquino

A millennial lifestyle blogger from Caloocan City who adores trying new things. ✨ “Make jokes. No stress. Love. Live life. Proceed. Progress!”

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