How should couples manage money and invest? A financial adviser explains

Joint accounts or separate? Split bills 50/50? Invest together or keep it separate?

Ask five couples how they manage money and you'll probably get five different answers.

After buying her first home with her partner, Jess put the question to the Get Started Investing community and quickly realised there were plenty of different approaches. So she sat down with financial adviser Glen Hare to hear what he sees working best for the couples he advises, and how they navigate everything from bank accounts and budgeting to shared goals, different money personalities (saver v spender) and building a financial life together.

Plus, producer Soph calls in from her honeymoon with a question many newlyweds face: should married couples combine their investments, or keep investing separately?

Chapters:

00:00:00 How Should Couples Manage Money?

00:03:00 Separate Or Combine Your Finances?

00:07:30 When Separate Money Stops Working

00:12:53 Getting On The Same Financial Page

00:15:15 When One Partner Hates Talking Money

00:19:14 Should Couples Invest Together?

00:23:30 The Tax Trap When Combining Investments

00:27:18 What If Your Risk Tolerances Differ?

00:31:22 The Money Conversation Every Couple Needs

If you want to get in touch with Glen Hare we can put you in touch here

You can follow Jess’s journey further with regular updates on Instagram at getstartedinvesting_

Links mentioned in this episode:

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Thanks to MLC for sponsoring this series and helping keep our content free.

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In the spirit of reconciliation, Equity Mates Media and the hosts of Get Started Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.

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Get Started Investing is a product of Equity Mates Media.

This podcast is intended for education and entertainment purposes only. Any advice is general advice, and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If you are unsure, please speak to a financial professional. The hosts of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares group but maintains editorial independence.

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