If you’ve fallen head-over-heels for your partner, and you’ve started making big financial decisions together, remember to use your head as well as your heart. Here’s a money-smart tip for savvy couples:
Organise your cash flow into three accounts: one for you, one for your partner, and one joint account you can share. Once you’ve worked out the total cost of your shared living expenses, you should each contribute a set amount into the joint account every month, based on your share of the household income. Any money that doesn’t go toward these costs can stay in your individual accounts, for each of you to use separately at your own discretion. This helps to keep living expenses fair and balanced.