Money hacks The couple's guide to spending and saving

There’s no one-size-fits-all answer for whether you should manage your finances jointly, separately or somewhere in the middle.

- Rupert Jones

The most important thing is to have conversations about money - such as about spending, budgeting, debt and saving - early on in your relationship to prevent misunderstandings and arguments.

According to counselling service Relate, worries around finance are the biggest strain on couples across the UK yet, it says, surveys have shown that “a large proportion of us feel unable to actually talk about money with our partners”.

If you are struggling to get a conversation going, you could draw up a written plan. You could suggest you each separately write down how you think you should manage your finances as a couple, and then talk about it. You may have to compromise on some things.

Think about bills

Moving in together is a big deal and will mean sorting out who’s going to pay for what.

The good news is that some bills should come down. If you were each paying for Netflix, Amazon Prime or other subscriptions, in many cases you will be able to halve those costs. Other costs can be cut, too - for example, some gym chains, such as David Lloyd, offer a discount if you sign up as a couple.

When it comes to gas, electricity and other utility bills, you could split these 50:50, or base it on each person’s income proportionally.

Some utility companies will let couples put both people’s names on the bills. This can mean that both, as opposed to just one, are liable for any unpaid bills and debts.

Consider teaming up...

One big decision is whether to have a joint current account. Relate says it “is an act of serious trust”.