Bestinvest Logo

5 Money Saving Tips for Couples

How do you approach money as a couple? It’s a loaded subject for many. Inspired by the conversations (or lack of them) around money and relationships, we carried out a survey on over 2000 people in relationships to get to the nitty gritty of what really goes on in bank accounts and saving ISAs behind closed doors…

Published on 17 May 20194 minute read

Do you tell your other half what you spend money on?

Our findings uncovered the covert nature of our saving and spending habits as a nation, both individually and within our relationships.

We Brits are a nation of ‘secret spenders’ – although we’re not famed for owning up to it. More than half of those surveyed said they hide purchases from their partners, but only 6% of those admitted to ‘secret spending’ with a quarter admitting they don’t confess out of guilt.

These findings weren’t gender exclusive either. Two-thirds (66%) of women said they were likely to make a purchase without telling their partners, compared to 62% of men.

Saving separately vs. saving as a couple

Deciding how to handle finances in a relationship can be difficult. Partners are likely to have different salaries and priorities; plus contributions to joint finances don’t necessarily match up.

Perhaps this is why just under half of the individuals surveyed (45%) had joint savings with their partners, with the rest preferring to keep savings separate or not save at all.

Clearly the idea of joint savings can pose some challenges. Despite more of us saving money separately, our research found that couples who save together are actually happier in their relationships than those that don’t (95% vs. 88%).

Saving tips for couples

Overwhelmingly, our research showed that money and relationships can have a big effect on each other, with those saving together and making equal contributions to joint finances happier in their relationship overall.

Couples who save together are more likely to be happy in their relationships, compared to those who don't.

Following the results, we asked relationship expert Jo Hemmings for her expert guidance on how to handle finances in a relationship.

Top 5 money saving tips for couples

  1. Discuss your savings goals regularly
    Often couples don’t save together because they are unclear what they’re actually saving towards. These goals can change over time too – from buying a new car to building a nest egg. Having regular discussions about what you want to accomplish together gives a focus to your saving plans.

  2. Talk openly about your spending
    Try to avoid secret spending and be open with each other about what you’ve spent or plan to spend. Discussions about money can bring up a lot of emotions; take these out of the equation by scheduling ‘business’ meetings together regularly. You could even choose a designated venue – such as a local coffee shop – for your discussions.

  3. Celebrate your achievements
    Many people constantly worry about money because they think there’s too much going out and not enough coming in. But it’s important to check your progress regularly and give each other a pat on the back when you have saved up some money together. You could even treat yourself to a nice meal at a restaurant to celebrate.

  4. Make decisions together
    In many relationships, each partner will handle a different area of the joint savings or outgoings. But it’s never too late to shake things up when it comes to money and relationships – why not make a change and discuss everything together? Making joint decisions in this way can take the pressure off a partner who may have been carrying the heavier load – or give more responsibility to a partner who felt like they didn’t have enough input before.

  5. Review your joint outgoings regularly
    Review your outgoings and make the most of the many online comparison tools, tips and guidance available at your fingertips. These 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.

Investing as a couple

If a review of your joint finances has given you and your partner a nudge to start saving and investing as a couple, who not explore the options available to you?

At Bestinvest, we’re able to link ISA accounts - meaning you’ll be able to keep track of your joint progress and have shared insight on where your money is invested as a couple. This combined view makes it easier to track and monitor against your joint saving and investment goals; encouraging open conversation and equal visibility of your finances.

Ready to try our saving tips for couples?

If you’ve read our money saving tips for couples and want to start investing together, take a look at our award-winning ISA. It’s easy for individuals and couples to link their accounts and start making the most of their money.

Find out more about ISAs


Or if you have any questions or would like some help, call us on 020 7189 2400.

Get insights and events via email

Receive the latest updates straight to your inbox.

By clicking the following button you are agreeing to our website conditions.

You may also like…

Financial planning

General election 2024 – pension and tax insights

13 Jun 2024 | minute read

Investment Outlook

Global equities are supported by stealth stimuli in the US

11 Jun 2024 | minute read


How green is your pension?

30 May 2024 | minute read