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8 Money Tips For Couples In Singapore To Fix & Grow Your Finances Together

8 Money Tips For Couples In Singapore To Fix & Grow Your Finances Together

Lifestyle Relationship
By Viroon on 20 Oct 2021
Senior Creative Editor

If you clicked on this article, you're most likely in a relationship and want to find out more tips on saving money with your partner.


How do you approach money as a couple? Money has always been a tricky and sensitive topic to talking about even with your close ones. Many are not comfortable to be transparent with their partner on the details about their financial situation. Some even lie, hide purchases from their partners and overspend, damaging the trust between each other.

Deciding how to handle finances in a relationship can be difficult as managing your own money is challenging enough.

Whether you are married, engaged, or just starting to get serious with somebody, it is a good idea to come clean about your financial situation and habits. We are not perfect, and it is alright that you want to splurge sometimes and pamper yourself. Just be open and learn to share with your partner. Don't be ashamed of it.

Honest communication is the key to a strong relationship with your partner and to prevent money from ruining the connection. If you aren’t sure where to begin, here are eight money-saving tips to get you started.

Read on to find more!


#1 Be Transparent About Financial Status

Current financial Status _ Funny Memes _ Daily LOL PicsPhoto from Pinterest

Have you traded financial statements with your partner? That means sharing everything from your income to your debts. Having a financial conversation means you’ll find out how your partner prioritizes money and to make sure that you have a good understanding of where you stand financially as a couple and the expectations that the other holds.

It is essential to talk about it before marriage as you do not want to find out only after you're married that both of you have very different ideas about spending and saving money. Avoid secret spending and be open with each other about what you’ve spent or plan to spend.

#2 Set A Goal Together

Couple togetherPhoto from Pinterest

It is hard to save money if you and your partner do not have the same priorities when it comes to finances. Setting a goal or goals together can help you save money faster. Whether it is a deposit for a home or save up a rainy day fund, it is easier when you discuss your goals together.

These goals can change over time too – from buying a new car to homeownership. Having regular discussions about what you want to accomplish together gives a focus to your saving plans.


#3 Create A Budget

Money Quotes_ The Most Powerful Things Ever Said About Saving MoneyPhoto from Pinterest

It is difficult to save if you have no idea where your money is going. Both partners should track their spending for a month or two by logging every purchase and expense. Review and make adjustments to your spending and increase your savings.

Allocate a budget for your expenses and try to stick within it each month. Don’t forget to allocate for unexpected or irregular expenses, such as routine car maintenance or doctor’s appointments.

By following a budget, both partners have an agreement on where the money goes, which helps to eliminate potential conflicts.

#4 Have A Joint Bank Account

couples-and-moneyPhoto from Pinterest

If you and your partner have established trust, can budget and share mostly common goals, the natural extension of that relationship likely means opening a joint account. If one of these three elements is missing, the joint account arrangement may fail. However, if the plan can work, not only will a joint account strengthen the relationship, it leaves partners in a better position to achieve goals and cope with unexpected setbacks.


#5 Track & Review Your Joint Account Regularly

Track and reviewPhoto from Pinterest

Tracking your expenses is one of the key factors in making your budget work for you. Review your outgoings regularly can help you find the best prices for the likes of utility bills, credit card spending and insurance – potentially saving you a lot of money. As time goes by, your situation, income may change and updating the plan for money as needs change will keep your financial future from going off track.

#6 Bargain Hunt Together

Couple shopping togetherPhoto from Pinterest

It's always smart to look for the best deals and cashback. Couples can save even more money by making sure they're both searching for bargains. Not only you can save money, but you are also spending quality time together.

#7 Work As A team

couple TeamworkPhoto from Pinterest


Stress and tension arise when one is earning more than another and try to control spending decisions. Married or not, it is important to work together as a team.Instead of bickering over money, always encourage and build each other up. Be mature enough to check your ego, too. It’s easier to resolve differences that way.

#8 Celebrate Your Achievements

Couple having funPhoto from Pinterest

Nothing's cast to stone. From time to time, it makes sense to take a fresh look at your financial position and goals as you might want to make a few changes along the way. Celebrate your achievements when you have saved up some money together. Treat yourself to a holiday or a nice meal at a restaurant.

Relationship and money can be tricky, but the best thing you can do is be open and honest. Start on the right foot by casually mention to your partner that you would like to talk about long-term financial goals and feel out their response. Talking about money can make us feel vulnerable, so be understanding and supportive when talking about your finances.

These tips aren’t a foolproof way to achieve a perfect relationship but what matters is how you deal with the negative experiences and weather the storm together.

Looking for more money tips? Check out our article on the best savings accounts for 2020 and find out if you are ready to invest with a simple 5-points checklist!

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Text by: GirlStyle SG