When you love someone it can be difficult to step back and see the bigger picture. You might not mind always making sure the electricity bill is paid or that there’s money in the “spending” account at all times. But the truth is, making sure both partners take an active role in the financial health of a relationship is just as important as a good date night.
Research shows that nine in 10 Australians believe financial problems can end a relationship, and having once cohabited with a man who regularly withdrew the last $20 from my bank account without telling me, I couldn’t agree more.
Leading relationship expert Katia Loisel tells Mamamia the key to sorting out your romantic and financial entanglements is to be upfront about it.
Katia filming segments of Brander for the US
Posted by Katia Loisel on Wednesday, 10 June 2015
“Money is one of the most important influences on relationships. Unfortunately when we’re choosing Mr or Mrs Right most of us don’t think twice about whether we’re compatible where money is concerned,” she says.
“We come into a relationship with our own upbringing, experience, expectations and values towards money and often the way we view money can be quite different to our partner.
“Many couples avoid the money talk, particularly early in a relationship. And that can cause problems down the track, particularly when money gets tight or if there is a power imbalance. Numerous studies show that financial stress is related to lower relationship quality and blaming, with couples undergoing financial distress more likely to consider divorce.”
Top Comments
Hubby and I don't share our money. Never have.
This works for us because we don't manager each other, or worry about what the other is spending.
We have a joint mortgage account for mortgage and bills.
Everything else which isn't related to the running of the house is non-existant to the other person.
We don't know what each other spends on junk food, alcohol, luxuries like shopping for clothes, etc.
When it comes to paying the bills, I take charge and pay them. I'd prefer to pay the bills straight away and have access to a computer at work, whereas hubby is forgetful of dates and would have to manually go to auspost to pay or use his phone.
So does he pay you back half of what the bills are? Or do you pay all the bills out of your pocket?
Looks like they have joint account for mortgage and bills. She takes care of the actual transaction, making sure they are paid out of their shared account