12 Financial Tips For Couples: Make Big Money Moves

Financial Tips For Couples: Make Big Money Moves.

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Money can make or break a relatipnship.

You can literally enhance or destroy your love and trust because of money.

So I want to share with you 12 tips to use money to enhance your relationship.

My wife and I have been married for years now and we’ve had to learn how to handle money in our relationship.

We’ve made some mistakes but we’ve also done some things that have worked out well for us.

Hopefully, these financial tips will serve you well and empower you to make big money moves in your relationship.

12 Financial Tips for Couples & Newlyweds

Lindie and I have been together since our late teens and married since 2015.

We’ve gone through interesting life lessons and our finances have been a part of our journey since the early days.

We’ve had arguments of who was more wrong, her for buying more shoes or me spending money on expensive lunches at work.

Today we are working as a team with our finances building the life we want.

These financial tips for couples and newlyweds are based on our experience together.

Feel free to tweak some of these to match your relationship.

1- Be H.O.T: Honest, Open, and Transparent

Relationships are largely built on trust and true financial intimacy is built on the same foundation.

Although you should have honesty and openness in your relationship overall, I’m talkin about being open about your finances.

This means being transparent about your financial habits, your finances such as your debts and net worth, plus your future desires.

Do you deliberately spend money, open credit cards, or hold ‘secret’ accounts behind your partner’s back?

Well, this is financial infidelity. Essentially it’s when you lie to your partner about your finances.

Avoid financial infidelity by having a H.O.T policy in your relationship.

Be honest, open and transparent with each other.

2- Develop A Financial Plan Together

If you don’t have a plan for your life someone else will.

In your relationship, take the time to think about your life and financial goals as a couple.

You could aim to buy a house together or create a detailed 5-year financial plan to build.

I’d like to believe you want more than to live and sleep together.

Building a future together is one of the best things to do as partners.

Take some time to think about what your future holds and where you’d like to be. 

From these discussions come up with a plan of how you’ll direct your finances towards your goals.

3- Have Financial Boundaries

I don’t know about you but Lindie and I have boundaries in our relationship.

These aren’t boundaries from each other, but rather boundaries for us.

For example, we both have a say if family or friends ask us for money.

When we paid off our credit card debts we decided to keep one credit card for emergencies when necessary.

We have set a limit that we will not go under from our savings.

I’m not too big of a fan of the word boundaries due to the negative perception associated with it.

But think about it, would you live in a house with no walls or windows?

Walls are a form of boundary to protect those within the boundary. 

Put up some financial walls in your relationship and protect yourselves. 

4- Budget Together

Of all the financial tips for couples, budgeting as a couple is by far the most important one.

I can’t stress enough the importance of having a budget in your relationship.

There are various methods to budget as a couple.

This has two benefits.

First, you’ll learn how to manage your finance together and ensure you can afford your lifestyle.

Secondly, you’ll ensure that money won’t be something that comes between you because you manage it.

And finally, you’ll enhance your financial intimacy.

A budget that empowers you to reach your life and financial goals as a couple.

Money can make or break a relationship. Learn how to use money to enhance your love and unity with your partner with the Couples Money Starter Kit Workbook.

5- Mi Dinero Su Dinero

I’m sure you’ve heard of ‘mi casa su casa’.

It’s a Spanish expression of welcome which means my house is your house.

Dinero means money, and I personally advocate for couples to have a my money is your money mindset.

This particularly applies if you are in a committed relationship built on trust, oneness and love.

The way I see it, we have our house, we sleep in our bed, we eat our food and we are building our relationship. 

The ‘our money’ mindset is the same energy. You recognise that it’s no longer just you in your life, it’s the two of you. 

This biggest reason behind this financial tip for couples is because it builds your financial intimacy.

Plus cliché phrases like together we can achieve more actually hold weight in this regard.

6- Assign Financial Responsibilities

Financial responsibilities are real, and they must be clearly assigned in your relationship.

This will naturally flow from the way in which you budget but leave nothing to assumption.

Financial responsibilities can include, who keeps an eye on the bills and calls the companies to negotiate a cheaper deal?

Who will do the research into which investments suit your future goals and dreams?

Who will ensure that bank transfers are done when necessary?

Whose name will certain financial products and services be opened under, especially if there is no ‘joint’ option?

This financial tip for couples is not to be forgotten.

Unattended responsibilities can have adverse consequences if something is not done.

7- Have Individual Discretionary Money

This financial tip for couples applies particularly to those of you who have a joint ‘our money’ setup. 

As much as you love each other and do things together you’ll need individual discretionary spending money.

There will be certain expenses that won’t be for the both of you. 

You’re still two individuals with your own unique desires, likes, and ambitions that will require money.

So allow yourselves the room to breath and be free to be yourselves and let your finances support that too.

8- Don’t Compare Your Relationship To Others

One of the biggest enemies of your peace, joy, and happiness in your relationship is comparison.

Comparing your relationship to other couples who seem to be ahead of you actually cripples you.

Looking at another couple as inspiration for what to do in your relationship is fine.

Crossing the line of inspiration to jealousy and envy however, is where the issue lies.

You see another couple buying a house or sending their kids to private school and now you want it too.

If you’re not careful you may begin to model your life to look like theirs in an attempt to catch up.

This is the couple’s version of keeping up with the Joneses, just don’t.

Focus on yourselves and stay in your own lane.

9- Have Each Other’s Backs

The best feeling in a relationship is when you know that your partner has your back no matter what.

Be supportive of each other’s dreams and be strong when your partner is weak.

There was a time when Lindie was in a job that messed up her overall peace and wellbeing.

I told her to quit her job and we’ll cut expenses and use our savings buffer whilst she’s looking for another job.

It took her 6 months to get the next job; however, it was worth it for her to be happy.

Do what’s right for each other and cover each other in life.

10- Talk About Your Goals Often

This is a game changer!

When we were engaged and saving up for our wedding, we kept talking about our big day and how we wanted it to be.

When we were saving up for our house we often kept reminding ourselves of our goal to own our home.

We kept reminding each other of our end goal for career progression when we were doing professional qualifications.

This works wonders whilst you’re on the journey towards your goals. It’s so easy to be fired up in the early days but as time goes on the edge wears off.

Most dreams require present work for future value, and not getting instant results leads to all sorts of frustrations.

Talking about your goals will be a way to keep that fire burning.

11- Celebrate Your Financial Achievements

Whilst on the journey towards reaching your financial goals, celebrate every milestone and achievement.

Taking the time to celebrate an achievement is a way of honouring yourself in what you’ve achieved.

It’s not easy to work towards your financial goals whilst trying to live life and enjoy the present.

We celebrate our goals in many ways. We have a date night, order takeaway, buy each other a ‘well done’ card and so on.

The joy in your relationship that you feel when you both smash your goals is unparalleled to any other thing.

I believe the best people who can truly understand the journey you’ve been on is yourselves.

That means you’ll appreciate the celebration even more.

12- Enjoy Every Moment

I’ve spoken to a number of couples with big ambitions and I’ll be so happy to hear the drive they have.

The trouble is, I look more happy right now than they do.

They want to get out of their present situation so much they rob the joy of today out of life.

I’m all for drive and focussing on your goals, but not to the extent where you’re miserable and unhappy today.

Take a moment right now, and appreciate what you have around you.

The fact that you have each other is a blessing in itself to purely enjoy your moments together.

Be the couple that basks in the sun and dances in the rain.

No matter the weather be joyful and grateful every day.

Take Action

Thank you for reading about the financial tips for couples and newlyweds, now I want to take massive action.

Put these financial tips into action today in your relationship

Which tip do you need to work on the most?

Check out our Couples Money Workbook to have a tool to rebuild your financial intimacy and start working together with money.

Share this with your friend, family, or partner 

Let us know how you’re getting along by getting in touch with us, we’d love to hear from you

Financial Tips For Couples

Knowledge is powerless without action

So take action, and take care

Thando