3 ways To Make Money Work In Your Relationship

There are different ways to handle finances in a relationship, which one works for you

The 3 Relationship Types

In My Last Post I talked about the 3 different types of couples and how the handle money.

  1. The Couple who does everything separate.

  2. The Couple who splits everything.

  3. The Couple who does everything together.

Every couple is different and has their reasons for how they manage money. This post is about how to set that up so that you can choose which works best for you, or so you know how to bring it up in future relationships.


The Couple Who handles Money Separately

  1. Have your own checking and savings accounts

  2. Have your own credit cards with no authorized signers on it

  3. Have your own bills and pay them with your own check

  4. Have your own spending money and use it as you choose

  5. Budget and track your own expenses.


This is one financial lifestyle, and everyone has their reasons for their preferences. Just make sure that you communicate to your partner what you prefer and why. Sometimes reassurance is big if you choose this kind of money management.



The Couple Who handles Money Together and Separate

  1. Have your own checking and savings or maybe have your own checking and shared savings

  2. Have your own credit cards or credit card with partner as authorized signer

  3. Split bills 50/50 and you use your checks to pay bills but then whatever is left over is your own

  4. Have spending money for you as a couple and then your individual spending money with no questions asked

  5. One Person Budgets and then you discuss it or you both budget together and discuss how things need to be handled. You also track transactions separately with your spending money but track transactions together when it comes to bills.

This kind of money management is a great way to keep a good healthy balance with healthy boundaries. You handle your finances as a couple but still keep a sense of individuality without having to answer for anything.


This Couple Shares Everything Together

  1. Has both checking and savings accounts together

  2. Have your own credit card with spouse as an authorized signer

  3. Shares all the responsibilities of the bills

  4. Shares Money for going out or takes turns for paying

  5. Both Budget together and tracks transactions together.

I will say that there is a misconception about couple number three, which is you may think they have a better relationship and that's why they share everything but this is not the case. The Truth is, it all comes down to what you discuss with your partner.


When it comes to finances (especially just starting out as a couple) communication, open minds and trust is everything. You have to be real transparent with what you want and why. Also once you make your decision make sure it's what you want but also never be afraid to revisit this conversation down the road. People change, relationships change and so can many other factors so if you feel like you need things to change on how you handle your money make sure you communicate that with your partner but keep an open mind.


Another great conversation to have with your spouse is who is better with finances, who has what strengths. There is nothing wrong with not being strong in finances but it's important that you work together and help each other through your financial Journey. Don't forget that I am first before anything a basic personal financial coach so if you need help with the ins and outs please book a session with me, I love to help.


As Always Thank You for Reading

I Hope You Have A Day As Beautiful As You Are

xoxo/Lisamarie




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© 2021 by Lisamarie at Agapephilia Life Coaching. Proudly created with Wix.com