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Coupling up: how to avoid money worries in your relationship
26th November, 2025 12:16 PM
There’s no one-size-fits-all answer for whether you should manage your finances jointly, separately or somewhere in the middle.
The most important thing is to have conversations about money – things such as spending, budgeting, debt and saving – early on in your relationship to prevent misunderstandings and arguments later.
According to the counselling service Relate, worries around finance are the biggest strain on couples, yet, it says, surveys have shown that “a large proportion of us feel unable to actually talk about money with our partners”.
If you are struggling to get a conversation going, you could draw up a written plan. You could suggest that each separately write down how you think you should manage your finances as a couple, and then talk about it. You may have to compromise on some things.
Any arrangements you make should be reviewed now and again, particularly if one person’s circumstances change – for example, if they get a pay rise.
Think about bills
Moving in together is a big deal and will mean sorting out who’s going to pay for what.
The good news is that some bills should come down. If you were each paying for Netflix, Amazon Prime or other subscriptions, in many cases you will be able to halve those costs. Other costs can be cut, too – for example, some gym chains, such as David Lloyd, offer a discount if you sign up as a couple.
When it comes to gas, electricity and other utility bills, you could split these 50:50 or proportionally based on each person’s income.
Some utility companies will let couples put both people’s names on the bills. This can mean that both people, as opposed to just one, are liable for any unpaid bills and debts.
Consider teaming up
One big decision is whether to have a joint current account. Relate says setting one up “is an act of serious trust”.
“Having a joint account means your partner has the right to spend whatever’s in it, no questions asked,” says Andy Webb, of Be Clever With Your Cash. “If your partner goes on a spree and the account ends up overdrawn, you’ll both be responsible for clearing the debt.”
You should think very carefully if your partner has debts or a bad credit score, as joint account holders’ credit files are financially linked.
When you apply for credit, the lender could choose to view the credit file of the person you are linked to, as well as yours, and this could affect your ability to borrow.
If you set up a joint account, you need to decide what it is for. You could opt to combine all your income in one place and have all spending – from big bills to small things like takeaway coffees – come out of that account.
“You’ll both have control over the money, and you’ll both be able to see what the other person is spending,” says the government-backed MoneyHelper website.
Meanwhile, you can’t get a joint credit card, but you can often request a supplementary card for a partner. The “primary” cardholder will be responsible for any spending by the supplementary cardholder, so bear this in mind before you apply.
Another option is to open a joint current account for things such as household bills and emergencies, but for each partner to have their own bank account for personal spending.
Think about how much each partner will pay into the joint account each month. It could be an equal contribution or related to each person’s income.
Webb says having only a joint current account, without individual accounts, can be risky. “You might not feel the need to have separate funds – but relationships can go wrong, from breakups to financial abuse, so it makes sense to have access to your own money should you need it,” he says.
Pool savings
The digital bank Revolut recently launched a range of joint savings accounts so couples can “save side by side” and earn up to 4.5% interest.
This may suit those saving towards a shared goal such as a big holiday.
Webb says that while a joint savings account will not affect your credit report, “you still need to be confident that the other person isn’t going to empty the account without your permission”.
A couple who open a joint account currently get up to their cash protected – double the standard individual protection under the
Any interest earned will typically be split 50:50 for income tax purposes.
Max your mortgage borrowing
High house prices mean many couples have little choice but to apply for a mortgage jointly in order to maximise their borrowing power.
The lender will look at both credit records when assessing affordability.
Adding your partner to your car insurance policy can result in you paying a lot less. Insurers see those who are in a couple as lower risk than people who are single.
Earlier this year, data from the price comparison site Confused.com showed the average annual cost of car insurance for a woman who was the only driver on a policy.
It’s not just car cover: joint life insurance is usually cheaper than two separate individual policies. Insurers say this is because statistics suggest married and cohabiting couples generally live longer than single people.
Cut your inheritance tax bill
When you are married or in a civil partnership, if one of you dies and leaves everything to the other, this will all be free of inheritance tax.
Also, any unused threshold can be added to the surviving spouse or civil partner’s threshold when the first person dies.
You can pass a home to your husband, wife or civil partner when you die. There’s no inheritance tax to pay if you do this.
Meanwhile, most pensions will pay out to a spouse when the first person dies. If you are not married, fill in a “nomination of beneficiaries” form to ask for anything to pass to your partner. Your pension provider will be able to send you a form or will have one you can download.
