Conversations about finances aren't exactly romantic, and budgeting can be a touchy subject, especially when you have different views about spending and saving. Before discussing how you'll handle your bills and other expenses, be sure that you agree on how to go about combining your finances as a couple, then consider the method that works best for you. That might include combining all, or part of, your income. For some couples, this "what's mine is yours" approach can work especially well if you share the same saving, spending, and tracking habits.

Other couples may prefer a "yours" and "theirs" method. For example, one person might pay the mortgage, while the other covers utilities and other household expenses. Individual expenses, including car repairs and shopping, could also be handled individually. An advantage of this method is that you don't need to agree on a shared budgeting approach.

Whichever approach you choose, here are five tips for a united budget.

1. Calculate Your Combined Monthly Income

An alternative to splitting your bills 50/50 is to split your bills based on your respective incomes. This is especially useful if one person earns more or less than the other.

Here's how to calculate your monthly income: if you have an annual salary, start by dividing that number by 12. Even if you expect annual bonuses that increase your take-home pay, or your salary is commission-based, calculate the lowest number on your paycheck over the last year and budget according to that figure. (Calculating your income based on your highest-earning month could mean you have a month where you're spending more than you're bringing in.)

2. List Your Shared Expenses

There isn't a "right" or "wrong" approach to budgeting as a couple, though one method may work better than another for your situation. An important first step is identifying your shared expenses. Common examples include:

• Groceries
• Utilities
• Rent or mortgage
• Streaming services
• Cell phone and internet

If dividing expenses, determine who is responsible for each one. You may consider dividing by income, especially if one partner earns more. For example, if your partner carries significant debt, you might offer to help with some or all of their payments, or cover a larger share of household expenses to ease their financial strain. Alternatively, you may prefer to combine all your money and manage expenses holistically.

3. Determine Your Shared Goals

Whether your shared goals are practical — like paying off debt or building a college fund — or aspirational, such as a vacation, a second home, or a remodeling project, this is your chance to plan what you'll do with leftover money after covering essentials.

It's important that each person has equal input in this conversation, and that you both agree on the goals and commit to a savings plan you can afford on a short- and long-term basis.

4. Build Your Joint Budget Using a Couple-Friendly Tool

If you're struggling with money management, a budgeting app may help you stay organized and avoid overspending. When choosing one as a couple, look for features like:

• The ability for both partners to view and manage shared and individual accounts, with control over what each person can see
• Bill payment reminders and spending-limit alerts
• Tools for setting and tracking shared savings goals
• A budgeting method that fits how you like to plan — whether that's a "give every dollar a job" approach, a digital envelope system, or simple category-based tracking
• Educational resources or guidance if you're new to structured budgeting

Some apps are free, while others charge a subscription fee for more advanced features — worth weighing based on how much functionality you need. Whatever tool you choose, be mindful of the security practices around linking bank, credit, or investment accounts, and review the app's privacy policy before connecting sensitive financial information.

5. Set Up Times to Meet and Track Spending

Set a specific time to talk with your partner and identify what you want to cover beforehand. Meeting at regular intervals helps keep you on track with your financial goals and gives you a chance to address any issues — including whether you're overspending, could save more, or could reduce debt to minimize interest charges.

Budgeting isn't the most exciting topic, but it can help create a solid foundation for your relationship. To discuss strategies for combining finances and budgeting together, contact the office today.

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