*This is a collaborative post
With interest rates still biting and the cost of living pushing many to rethink their spending habits, financial conversations between partners have never mattered more.
The pressures of rent hikes, energy bills, and food costs can create strain in even the strongest relationships. And yet, many couples continue to avoid money talks altogether.
If you share your future with someone, then your finances deserve the same joint attention.
Open communication about money
Start by sitting down and talking honestly about your finances – what you earn, what you owe, what you save, and what you fear. Do this without judgment.
Many people carry money shame or learned behaviours from childhood, which can affect how they manage income and debt as adults. To build trust, each partner should come to the conversation with transparency and patience.
Regular check-ins help you stay connected to your shared reality, rather than allowing one person to shoulder the burden alone.
Setting shared financial goals
When you know what you're working toward together, everyday decisions feel more purposeful. Whether you’re saving for a first home, planning for children, or just hoping to enjoy some financial breathing space, you need a clear destination.
Define your goals in numbers and timeframes. “Save £10,000 for a deposit by next May” gives you something tangible to aim for. Then divide the target fairly based on your incomes, not necessarily 50/50.
This approach respects each person’s circumstances while still holding both of you accountable. Track your progress monthly and adjust if needed, but always move together.
Managing debt and borrowing wisely
Begin by listing all your current debts, including credit cards and overdrafts. Prioritise repayments based on interest rates, not emotional attachment.
If you’re considering borrowing, always be aware of the joint responsibilities. Research your options, such as secured loans for large expenses if needed. Always compare options thoroughly, and never borrow more than you can realistically repay.
Creating a budget that works for two
Build a system that reflects both your values and responsibilities. Start by compiling your fixed expenses – rent, utilities, food – and decide who contributes what, again based on income levels.
Use budgeting apps or shared spreadsheets to track spending so both of you stay informed. Leave space for individual autonomy, too. Giving each partner their own ‘no-questions-asked’ spending allowance can prevent resentment and support healthy independence.
The goal isn’t to control each other – it’s to create a plan that supports the life you want to live together.
For further reading check out these four ways to improve your finances as a mum.
