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step 1

Know their background

Remember back to the first few times you met up with your partner – what were they like? Chances are, you were both full of questions, sussing out each other’s past and experiences to see if you were likely to be compatible.

Now that you’re established, and are feeling ready to combine your finances, it makes sense to dig a little deeper into their financial habits and history. Do they prefer to save or spend? Have they had any bad debts? Do they take financial decisions seriously?

Knowing these things about your partner will influence your decision to pool resources.

step 2

Set the ground-rules

Now that you know a bit more about your partner’s financial past, discuss your financial future together. Setting ground rules from the get-go means you are both clear on what to expect from each other. As we know – relationships change, and you should try to talk about how you would jointly tackle different scenarios should life provide you both some bumps in the road.

  1. Saving

    How much will you both commit to save, or how much will each of you contribute from your salary towards saving? Will you both set aside savings in the event of a rainy day?

  2. Budget split

    How much of your regular income will be dedicated to bills, and how much will be for fun? Will this be split evenly?

  3. Seperate, but together

    Are there separate financial responsibilities such as past debt, or children from prior relationships? How will these expenses be budgeted for, and who will this money come from?

step 3

Set joint savings goals

Nothing combines two star crossed lovers like a common cause or goal. Combining your finances may take some time to get used to, but a great way to get both parties on board is to work out what you want to achieve in life together, and start saving for it.

Once you can both see how two incomes works better than one, and how much your savings can grow, you’ll be motivated to maintain good financial habits together.

  1. Set up a budget

    If you haven’t budgeted as a single before, you may need a little help as a duo. There’s nothing to it – Here’s How

    I want to set up a budget

  2. Bank smarter

    If you keep doing what you’ve always done, you’ll only get what you’ve always gotten. There may be a better way to bank – see how we can help.

    I want to bank smarter and avoid fees

step 4

Stay on track

Knowing that you’re working towards a common goal is a great way to grow your savings, but sometimes we need to be reminded of just how close we’re getting to the light at the end of the tunnel.

Using online tools, such as Online Banking, or a Mobile Banking App, lets you stay in touch with your ever-growing nest egg. To track your savings journey, take advantage of our handy Savings Goal Calculator.