6 Tips to Manage Money as a New Couple

Not really sure how to manage money as a new couple? It can be tricky, but Laura gives solid advice for how to know what's right for your situation. Use these six tips to avoid potential disagreements and create a great financial life together.

Laura Adams, MBA
10-minute read
Episode #462

Best Money Management Tips for New CouplesAlyssa says, “My boyfriend and I have been living together for 2 years and still can’t figure out the best way to manage money as a couple. We’re serious and think about our finances as one pot of money; however, one of us makes more than the other. Should we split everything 50/50 or by how much we make? And what’s the best way to handle credit cards and bank accounts?

No matter if you’re in a serious relationship, like Alyssa, or have already tied the knot, managing money as a new couple can be tricky. Everyone’s situation and preferences are different, so there isn’t a one-size-fits-all system.

However, there are critical do's and don’ts that will help you avoid potential disagreements and create a great financial life. Keep reading for six money management tips that every new couple should follow.

Free Resource: Laura's Recommended Tools—use them to earn more, save more, and accomplish more with your money!

Tip #1: Know Where Your Relationship Stands

Since every relationship is different, my first tip is to be realistic about the status of yours. If you’re close to getting married, or are 100% committed and feel certain that your union will stand the test of time, my advice for managing money as a couple is very different than if you’re really not sure if you have a solid future.

If you’re a committed couple, then your money should follow. Leap in and merge every aspect of your finances!

Uniting money with joint accounts is the best way to work and succeed as a team. Steer your future as a couple by deciding how to budget, how much to save, whether to buy a home, and so on.

When you’re in a committed relationship all financial decisions should be discussed and shared equally—otherwise you’re just living two separate lives under one roof. It doesn’t matter if only one person works, one earns much more than the other, or one brings more debt into the relationship. Love doesn’t keep score when it comes to money.


About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.