4 Money Management Tips for Couples

Money management as an individual is a lot to deal with. Now imagine what it’s like for many people in romantic relationships. Last month, or was it two months ago? I’m not sure now (this shows how long I’ve been procrastinating). Anyway, some time ago, I shared a poll on our Insta story and Twitter asking people this question-  “Should unmarried couples have joint bank accounts?” Here are the results:

On Instagram, 

  • 6% voted “They should” 
  • 39% said, “Absolutely not.” 
  • 56% voted “Whatever works for them.”

The results on Twitter were very similar to those on Instagram, but I’ll still go ahead to share

  • 6% Voted “ They should”
  • 41% voted “Absolutely not.” 
  • 53% voted “Whatever works for them.”

Everyone has different views on how they think couples should manage their money. I’m not a finance expert or relationship expert, but I think everyone should do whatever works for them. Although, I wouldn’t advise two people in a month-old relationship to have an account together. 

Money is an important factor in romantic relationships, and how both parties handle it can either break or make it. Fun fact: It is one of the leading causes of divorce after incompatibility and infidelity. 

Tips for Successful Money Management in Romantic Relationships

Everyone grew up experiencing money differently. In conservative homes, talking about money is taboo. In other homes, people talk about it freely. If you and your partner grew up experiencing money differently, you must find a way to talk about money in a civil way to avoid unnecessary arguments I will share some tips with you now:

1. Talk Nicely:

While this may seem like such a simple thing, it isn’t. How you start the conversation will determine how well it’ll go. You could start by mentioning some of the good things your partner has been doing, then suggest very nicely what you’d like them to do better. 

For instance, “Thank you for consistently paying the water bill somewhat early, it has been very helpful. Would it be possible for you to always pay on the 3rd of every month? I understand that you are always busy. A reminder could help.” As opposed to, “You never pay the water bill early, now we are stuck with no water, and I reminded you ten times last week!” The first option seems to be a better option if you ask me.

2. Don’t Solve All the Issues At Once

When my partner and I talk about money and it seems too overwhelming for me, I ask to discuss it another time when I’m less anxious. Moving the discussion to another time when I’m not as overwhelmed helps me handle it with maturity. 

Understand that you may not agree on every money issue because you are two different human beings, this is why you should take breaks and discuss when you’re both cool-headed.

3. Have a Joint Account

If you and your partner are both generally financially responsible, it may be a great idea to have a joint account. You do not have to be married to share an account with your partner. Sharing an account makes it easy for you and them to keep track of finances and joint plans that require money. This doesn’t mean that both of you cannot have individual accounts for personal purposes. You should not rush to create a joint account with your partner. Discuss with your partner, take your time, and go ahead when the time is right.

4. Be Transparent and Honest.

Honesty is the best policy, even in relationships. Lack of transparency and honesty can lead to a strain on the relationship. Keeping secrets will hinder you from reaching your financial goals as a couple. 


These are the tips I’ll share for now. Who knows? I may write about this again in the future. In the end, the goal is for each party to have equal power financially and to have civil and healthy discussions about money.


In case you missed it, here’s our chat with Michael, where he talks about how him and his wife manage their money.

If you have any questions, please let us know. You can reach us on 08147198097 or email us at support@zilla.africa (9am to 6pm Monday to Friday, and 10am to 5pm Saturday and Sunday).

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