When you start a new relationship, talking about money can feel awkward — but it’s a good way to build trust and avoid problems later. A few simple conversations early on can help you understand each other and make good decisions together.
Understand each other’s money habits
Everyone brings different experiences and expectations to a relationship. Talking about money early helps you understand how each of you thinks and makes decisions.
Start with simple topics like:
- how you like to spend and save
- what you value financially
- how you prefer to manage bills
You don’t need to share every detail straight away. Start small and build up as your relationship grows.
As things progress...
Chances are you're both in different financial situations.. So as your relationship progresses it's good to understand where you're both at financially in terms of things like income, regular expenses, assets, investments, and debts and loans.
Plan for moving in together
Moving in together is a big step — emotionally and financially. Knowing your financial and legal responsibilities, and where to get help if you need it, can make your life together run more smoothly.
If this is the first time you've lived independently, learn about the costs that come with moving out of home.
And together, talk about:
- how you’ll split rent and bills
- whose name will be on the lease or mortgage - if you both sign the lease for a rental property, then you're both responsible for the rent
- whether you'll add both your names to utility services like electricity, gas, and the internet.
- how you’ll manage groceries, transport and other household costs
- what happens if one person earns more or works less
A simple budget can help you see your combined expenses and avoid misunderstandings.
Sharing money and debt
Before you share a bank account or get a credit card with your partner, make sure you know the risks and responsibilities. Don't rush into it or sign anything you're unsure about.
Joint bank account
Opening a joint bank account can make it easier to pay for shared expenses. It also means you both know how much money you have. But there are risks.
See joint accounts to understand the risks and decide whether it's right for you.
Shared credit card
Having a joint credit card means the card is in both your names, so you're both responsible for making repayments.
You need to trust each other to not overspend. If you can't keep up with card repayments, it will affect both of your credit scores. You both have to agree if you want to cancel the card.
Another option is to have primary and secondary credit cards. One person is the main cardholder, and the other is a secondary holder with their own card. The primary cardholder is solely responsible for any debt on the card. They can cancel it without the other person's permission.
Shared loans
If you need to borrow money, think carefully before getting a loan in both your names. Understand that when you do:
- You are both responsible for repaying the debt.
- If one of you does not pay, the other person must pay the full amount.
- You both own the portion that's been paid off.
Be extremely cautious about putting your name or going guarantor on a loan that is solely for your partner. For example, a loan for their business. If things go wrong, you risk having to pay it all back.
If you have assets you want to protect, such as property or super, you can ask your partner to sign a binding financial agreement. This is also known as a prenup.
A financial agreement sets out how your assets and money are divided if your relationship breaks down. It also explains what financial support you or your partner gets.
For the agreement to be binding, you both have to sign it and have sought legal and financial advice before signing.
Planning for your financial future
As your relationship deepens, you may start thinking about bigger decisions — like buying a home or planning for children.
When you reach that stage, see our marriage and money page for guidance on:
check_box legal and financial changes
check_box updating your details
check_box planning for major life steps
check_box protecting your future together
Get help if you need it
Plenty of people need help negotiating money issues, so don't be afraid to ask for help if you need it. If you and your partner need help with debt or budgeting, you can see a free financial counsellor.
If money issues are causing problems, then a relationship counsellor may be able to help you. For a list of relationship support services, see:
Tackling money questions together as early as possible can help prevent small things becoming big issues.
Join thousands of Australians and get tools, tips and calculators to help with your money - straight to your inbox each month.
Sign up