Young black couple calculating, with a piggy bank on table.
How to manage finances in a relationship? By chatykany

How to manage finances in a relationship? Managing finances in a relationship can be challenging. It comes easily for some couples, but others must work on it. Some people are confused about how to manage the finances in a relationship.

Factors that can lead to these challenges include trust issues, one partner earning much more than the other, different spending habits, etc. Managing funds in a relationship is not a one approach fits all; various approaches are based on people’s earrings, attitudes towards money, and lifestyle.

Managing finances in a relationship can be complicated. This article will discuss different ways partners in a relationship could manage their finances. This includes:  

Using a joint bank account  

Using Separate bank accounts  

A joint bank account for bills and having separate bank accounts 



This was when the partners used only one bank account together. Their incomes go into this account, and all the bills and expenses are paid from this account. So, the partners receive their income in one joint account, and they ideally plan all their expenditures and pay all their bills from this account.

Many couples manage their finances using a joint account. Problems could arise if you do not have the same spending habits and the same attitude towards money. Usually, both partners control the money.

Partners can set up a threshold or require both signatures for certain expenditures. This appears excellent but gives little freedom as both partners can see precisely what the other partner is spending. And you can use the money the way you want; it has to always be through mutual agreement.  

If your partner spends heavily, or you would like to preserve a little independence, a joint account might not be for you. You may want to try another way to manage your finances.  


Partner in a relationship can also manage their finances using separate bank accounts. Keeping your money in separate bank accounts. In this case, you agree on who will pay what, meaning you share the bills.

Also, this allows you to effectively share responsibilities of household expenses while still keeping some privacy. Moreover, you can decide together on the ways to go about it. You can split the bills 50/50 or any other way that suits you.

If one of the partners is a way bigger earner than the other, the more significant earner can pay more, but this is not an obligation for them; this is up to their discretion or your agreement.

In any case, both partners should plan everything, communicate, and sometimes compromise.   

Some couples adopt this type of approach. Although you keep complete independence and control over your earnings, the approach could have some inconveniences, such as a lack of safety, if one of the partners does not follow up.  

How to manage finances in a relationship? By chatykany


 In some instances, partners may choose a different approach. This approach involves listing all the expenses and the bills, totalising them, then sharing them and paying them through an account created explicitly for the bills.

This type of account is a joint account where partners transfer their share and agree on the amount of money to pay monthly bills. This account is different from their personal account; this is not where there receive their incomes, such as salary.

Usually, the partner has separate accounts from where they transfer the cash to the joint statement. In a nutshell, the joint account is just there for the bills.

Again, the amount each partner pays depends on their agreement, it could be 50/50, or any other percentage agreed.  

So, this approach will allow you to share responsibilities and bills and still control your income.  


How to manage finances in a relationship? The answer could seem tricky, but in reality, it is not. You should know each other behaviour towards money and understand each other spending patterns.

From this point, you can choose one of the recommended options, including using a joined bank account, separate bank accounts, or a joined bank account and separate bank account.

In any case, partners should have a mutual understanding and avoid one partner all the finances.

Do you have any recommendations? Please share in the comments section. 

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