Currency of Love

In this episode, let’s unpack the complexities of financial conversations in relationships. Who pays for dinner when couples are dating? What are some perspectives about sharing or having separate accounts with a spouse? Our hosts will share anecdotes and provide insights on having open dialogue with your partner. Watch more Cash Confessions in LifeSync® in the Wells Fargo Mobile® App.
Transcript:
How do I talk to my fiancee, who I just moved in with about household expenses
needing to be split more evenly?
So now they've moved all their things together,
so they're sharing furniture, food.
So part of this, it sounds like, is a fairness thing.
Correct. And fair isn't always equal.
That's right. Would you agree with that?
I agree with that.
The household is one expense, often a very big one.
But there's also other expenses that they're going to need to
discuss splitting.
Maybe there are some simple things to do here, which is the first one
to set up maybe a joint account of some sort.
A joint checking account. Okay. A joint checking account.
So something that you can pay bills from.
Exactly. And you can really track it.
Yeah. Okay, would you suggest then,
setting aside money in this joint account to pay for the unexpected things?
I think they need an emergency fund.
Maybe in this instance, their stove breaks or their dishwasher.
Or There's a leak.
There's a leak, right?
A tree falls on the fence in the backyard or something.
They're also going to be paying for this wedding.
You know, people are thinking about weddings
in a different way now, which I think is great because weddings are so expensive.
Right. There's just going to be a lot of factors.
And so I think if they're, you know,
having this conversation about the house, it's a good place to start.
But then they need to have the additional conversations,
acknowledge it might be uncomfortable.
Most of us have this love hate relationship with money.
But ultimately, before you get married, you should have this money conversation