TALK MONEY TO ME

Double-income-no-kids, who pays for what, the credit-debit discussion year as a new accounting is upon us, how are couples deciding their #financegoals?

- SAMREEN TUNGEKAR

After a long-term relationship Alefiya and her fiancé are ready to tie the knot. Their approach has always been 50-50 when it comes to splitting the bill - and as a young couple that wants to live independently of family, they understand the importance of sound financial planning. Alefiya shares, "My partner and I have mapped out our 30-year life plan. We've set various goals such as purchasing a car in the first year, expanding our business for reinvestment in the second, and starting a family in the third, and so on."

Despite different earning brackets, the duo believe in equally splitting their expenses "Currently, we have a structured approach to managing our finances, allocating a portion of our income towards investments and savings. We intend to establish a joint account where we can collectively manage our expenses, designate funds for investments, and set aside savings as rainy-day funds," acks Alefiya.

This transparency in communication when it comes to money has witnessed a refreshingly open change in the recent past - there's an active movement from feeling 'awkward' to discuss finances to actually talking about what the financial health of one's relationship is. It's no longer off-putting to speak up, at a comfortable pace, about what you want to do with the money you earn, or ask your potential partner what they'd like to do with theirs.

SOUND ADVICE