Finance News

Managing money with your partner

Managing money with your partner Author: Nicholas Kourouvanis   Have you and your partner ever argued about money? You may have disagreed about who pays for what or how much each person spends on clothes, lunch or their social life. If so, you’re not alone. According to a survey of more than 1,500 Australians conducted by Finder[1], one in two couples admit to arguing about money. Findings released in July reveal:
  • 7% of couples have weekly quarrels about money
  • 16% have a row every two to four weeks
  • 18% argue about money every three to six months
  • 11% argue about money once a year.
We all want to be on the same page with our partner when it comes to money. To achieve this, we need to know our short and long term financial goals, and to be upfront and honest when discussing them. When you have these conversations, you should think about:
  • Your views on money management
  • Your current financial situation – income, expenses, assets and debts
  • Your past financial situation including your credit history
  • Your individual and shared financial goals – travel, marriage and kids
  • Your budget requirements.
As a financial planner, experience has taught me that couples on the same page about their finances are generally more motivated and trusting of one another. If you need any assistance with your finances please reach out, our experienced planners are happy to help.       General Advice Disclosure: This document contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information. [1]        

ASCK Pty Ltd (ACN 105 450 566), trading as AMEGA Financial Solutions is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited Australian Financial Services Licensee and Australian Credit Licensee 232 706. General advice warning: This website contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances.

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