7 Rules To Follow When Sharing Expenses In A Relationship

If there's one topic that can create awkwardness and complications in a relationship, it's money and how to successfully share expenses. Discussing finances with a loved one is uncomfortable and makes most people squirm. However, for a successful and equitable relationship, it's essential to establish guidelines and understand how to share expenses. This approach helps you collaborate, understand your financial situation, and work towards future goals. Nevertheless, it remains an awkward subject, doesn't it?

# Be Honest About Your Finances

It's tempting to present yourself as wealthier than you are, but for a financially stable relationship, transparency about your financial situation is crucial. If your partner loves you, they won't mind if you're broke or rich; it's about the connection, not the money.

When discussing shared expenses, be truthful about your finances. Resist the urge to exaggerate your financial capacity, as it will only cause problems later on.

# Set Financial Boundaries

Talking about money is awkward, but it's essential to be clear about your financial boundaries. Discuss what you are and aren't willing to do financially. For example, if you have a specific savings goal each month, communicate this to your partner as a non-negotiable priority.

Respect each other's financial views and boundaries. Sharing expenses in a relationship doesn't mean handing over your entire salary.

# Don’t Avoid Talking About Finances

It's easy to avoid discussing finances because it's uncomfortable, but failing to have this conversation can lead to future problems. Sharing expenses is about working together towards mutual goals, whether it's buying a house, traveling, or purchasing a car.

Discuss your financial capacity, needs, and plans. Sharing should ideally be equal, but sometimes one partner may need to cover more if the other is having a tough month financially. Open communication is key to a strong relationship.

# Keep Money Conversations Positive

Avoid blaming your partner for spending too much or not contributing enough. Use positive language and avoid blame when discussing financial issues.

Focus on your shared goals and how sharing expenses will help you achieve them. Starting with a positive approach prevents conflicts and promotes cooperation.

# Ensure Your Sharing System is Fair

It's unlikely both partners will earn the same amount, so it's unfair to expect equal financial contributions. Similarly, the partner with a higher income shouldn't be penalized.

Create a system that both partners find comfortable and fair. Ensure that it feels balanced and agreeable to both.

# Maintain Flexibility

While equality is important, there will be times when one partner can't contribute as much due to various reasons, such as helping family or unexpected expenses. Your plan should allow for flexibility.

Remember, you're a team. While one partner shouldn't always bear the financial burden, it's important to support each other during tough times.

# Have Occasional Check-Ins

Regularly review your progress towards future goals. Sharing expenses isn't just about daily costs like groceries; it's also about saving for your future together.

Check in occasionally to see if your goals or circumstances have changed. This ensures you're both on track and aligned with your shared vision. However, don't overdo these check-ins; keep them occasional to avoid unnecessary pressure.