Studies have shown that money can be a major cause of stress for anyone, not just couples. However, there are ways to help you, and your partner feel more financially secure.

Being transparent with them about your financial health and working as a team to tackle money matters can help you avoid some of the financial pitfalls that couples can face and help the two of you stay on track with your finances.

1. Be open to talking about money

Communication in a relationship is key, and that includes being honest about your finances. For example, share what your short- and long-term financial plans are, the amount and type of debt you owe, your repayment schedule for your debt and how much you save each pay period. This way, you’ll both know where you stand money-wise and be able to better plan your future together. If you’re able to save more as a couple, planning your finances together can also be an easier way to meet your common financial goals.

2. Share your spending habits

Knowing each other’s spending habits can help you understand how you’ll manage money together in the future. If you’re unsure where your money goes each month, creating a budget can help you track your spending. You may want to agree to a joint entertainment budget as a first step to see how you manage your finances as a team.

3. Be on the same page

As your relationship gets more serious, you may want to decide how to approach spending and saving money in a way that works best for both of you. If you already live together or are planning to move in soon, you could create a family budget where you split housing costs and divide your bills.

4. Align on financial goals

A key component of financial health as a couple is making sure you both agree on your shared financial goals. Whether you’re saving for a wedding, a down payment on a home, buying a vehicle together, or planning for your next vacation, on your financial goals ahead of time can help you stay focused on your financial priorities and keep your spendicheck.

This also helps to confirm your goals and it's great when you achieve a savings or debt goal together. It can really bring you closer.

5. Develop a financial plan together

Why go it alone? Planning your financial future together gives you support and a partner to help you reach your goals. It starts by calculating your financial net worth (your assets MINUS liabilities), and then planning what you both want to tackle together.

Benefits of understanding your financial health

A lot of good can come from understanding your financial health as a couple. When you work together as a couple, you can move toward common financial goals and feel more confident that you can reach them.