Keeping your finances as happy as your relationship

Published on 12 February 2016 by Raffick Marday

With le jour d’amour just two days away, we thought we’d do a Valentine’s Day special focusing on your finances!

Money can be a trigger for arguments, stress and tension between couples, but it needn't be – there are ways to avoid rows by working together to settle upon the best options when it comes to your finances.

If you want to keep your finances as happy as your relationship, read on...

Direct Debits

When you first move in together, the first thing to do is make sure you’re not both paying for the same service.

Do you both have direct debits set up for internet services and TV licenses – or subscriptions to online films or newspapers? If so, come to a decision on which ones to keep and cancel the rest.


As with any financial service, you should compare the market and take a thorough look at your options before settling on an insurance policy.

Some providers offer ways to consolidate such costs, meaning you could end up parting with less money if you pay as a couple.

Bank accounts

Paying for goods and services together can be accomplished by using a joint bank account, something which many couples opt to do.

Contribute either equally, or an amount proportionate to you individual incomes, into a joint account to cover bills, direct debits and household items.

The debt effect

It’s important to remember that when you share financial services, your credit reports become connected.

Therefore, it is vital to ascertain whether previous or existing debt, incurred by you or your partner, affects your credit rating and vice versa.

Allocate time for discussion

The best way to avoid money-related arguments is to set aside time every week or fortnight for financial ‘meetings’ to discuss any issues that might have come up and how to solve them.

Regular discussion will ensure you are both on top of your financial situation and will hopefully help to avoid quarrels in the future.


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