As someone who helps people with their money, I’ve talked a lot about how it affects relationships. This topic hits close to home for me. My wife and I have had times where one of us made more money than the other. I want to share how we’ve handled this and what I’ve learned from working with other couples.
First things first, when there’s a big difference in what each person earns, it’s essential to talk about it. In my own life, being open and understanding about how we felt made a big difference. Sometimes the person making less can feel down about it, and the one earning more might feel like they have to take care of everything. Talking about these feelings is key.
I’m a big fan of sharing money in a joint account. It has worked well for us. It makes us feel like a team. But I know that’s not everyone’s cup of tea. The most important thing is to find a way that makes both people feel good and valued.
Budgeting together has been like a team project for us. We don’t just split things 50-50. We each put in what we can, based on what we earn. This way, we both feel like we’re doing our part. We decide together how to spend our money and how to save for the future.
Another big thing is to remember that money isn’t everything. There are so many ways to contribute to a relationship that don’t involve euros. Things like taking care of the house, being there for each other, and making sacrifices are just as important. In my marriage, we make sure to appreciate all the ways we both add to our life together.
Sometimes, talking to a money expert can help. They can give you guidance that’s right for your situation, especially if figuring out money stuff feels tricky.
Planning for the future is really important too. My wife and I talk about our big goals, like saving for retirement or setting up an emergency fund. This helps us stay on the same page and takes some pressure off our day-to-day money worries.
I’ve seen lots of couples figure out how to deal with different incomes. Every couple’s story teaches us something. The most important thing I’ve learned is that caring for each other and respecting each other is what really matters. Money should help you build a life together, not get in the way.
The best thing you can do is keep talking about money. My wife and I have regular chats about our finances. It has helped us a lot. We don’t let money become a big, scary topic.
To wrap it up, remember that the real value in a relationship isn’t about how much money you have. It’s about love, respect, and supporting each other. With a little bit of talking, planning, and understanding, you and your partner can handle any money differences and build a happy life together.
Follow Luca Caruana’s weekly column here, and his LinkedIn account or his Instagram for more budgeting hacks. For other money-related columns, check out Luca’s thoughts about the girl math trend and his advice to help change the narrative about women and money.
