1 Mistake 1: Not Talking About Money
Many couples avoid money conversations because they're uncomfortable. But lack of communication leads to incorrect assumptions, hidden expenses, and accumulated resentment.
Solution: Schedule a monthly 'money date.' 30 minutes to review expenses, goals, and concerns in a relaxed environment.
2 Mistake 2: Not Defining What's 'Shared'
Are gifts for family shared expenses? What about outings with friends? Without clear definitions, every purchase can cause conflict.
Solution: Agree on clear categories of shared vs. personal expenses. Document them and review periodically.
3 Mistake 3: 50/50 Split With Income Differences
Splitting everything in half seems fair, but it can be very unequal if one earns significantly more than the other.
Solution: Consider proportional splitting based on income. Both contribute the same percentage of their salary.
4 Mistake 4: No Shared Financial Goals
Saving without a clear purpose is hard to maintain. Without shared goals, each person may have different priorities that create conflict.
Solution: Define together 2-3 short and long-term financial goals. Visualize progress regularly.
5 Mistake 5: Hidden Debts
Hiding debts from your partner destroys trust when they're eventually discovered. It also affects joint financial planning.
Solution: Be transparent from the start. Work together on a plan to eliminate existing debts.