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Relationships and Personal Finance

cute couple talking over coffee

Personal finance can be a hard thing for anyone to manage as an individual. But have you thought about how you’ll manage your finances with another person? We meet with individuals, but we also hold couples counseling for those who want to bring their partner into the conversation. It can become difficult to manage your money when two different people are trying to work together. Beth and Elsa met with a couple recently that was prioritizing their finances in the relationship, and they gave us insight into how they do this. Keep reading to find out how they work as a team when it comes to their money management, as students and as partners. 

What we find is that couples who have “Money Dates” with each other 1-2 times a month have more success in reaching their financial goals, as well as keeping strong communication within the partnership. Just like having a relationship check-in during a date night, it’s important to do the same for your relationship with money. You should be doing this even if you don’t have a partner, but if you are in a relationship, it becomes crucial to proactively meet and discuss what you both are doing well, things each of you can improve on, and your progress toward goals. 

The couple that we met was doing amazing, and we asked them their secret! They said they have money dates! We teach this, and they were already doing it before meeting with us! And it was working! Communication is key, and communication doesn’t stop with money.

Here are 5 steps to implement into your Money Date, whether you are having this check-in with yourself or with your partner!

1. Write down ALL expenses from the past 2-4 weeks, and highlight the expenses that you could have gone without or that don’t align with your values

2. Look through your subscriptions and cancel any that no longer serve you

3. Check for suspicious activity on your accounts and make sure there are no double charges

4. Look at your account balances and check progress toward goals

5. Create a money calendar for the next month with all bills, appointments, and expenses written on the day they will occur

Most importantly, make this date fun and cozy! Light that candle, make some tea, and make sure to do it at a time when neither partner is rushed or overly stressed out with a homework assignment due right before! I like to have mine on Sundays! Now go set up your own Money Date with your partner (or yourself)! Cheers to being proactive about your financial health!

candle that says date

I also want to emphasize that what works for one couple may not work for another, and that is completely okay! We see some couples combine their finances completely, while others keep things separate, or a combination of the two. What matters is that you and your partner keep open communication and keep trying to find a method of money management that works for you both, and that is fun and motivating to both of you! Book an appointment with our office if you want more assistance with relationship money management!





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Last Updated: 12/12/23