They say money can’t buy you love, but disagreements with a partner about how to manage your joint finances can give couples plenty to argue about.
On this week’s Money Clinic podcast, presenter Claer Barrett meets newly-weds Sahil and Priya, who have very different financial priorities.
Although the couple have been together for several years, they have never had a joint account. Sahil, 34, confesses he is more of a spender than a saver. With a stressful job working as an NHS doctor, he enjoys spending the money he’s earned on nights out and nice clothes.
Priya, his 32-year-old wife, works as a dentist and is impressively managing to save thousands into her pension and stocks and shares Isa. However, she worries that Sahil isn’t putting away enough money for the future, and is growing tired of nagging him to change his ways.
The couple want to iron out their financial differences, but confess that they find it very difficult to talk about money.
Podcast expert Vicky Reynal, a psychotherapist and financial therapist, examines the roots of the couple’s attitudes to money and suggests how they could move forward.
Ken Okoroafor, money expert and co-founder of The Humble Penny website, advises how couples can communicate and work towards shared financial goals.
Can they help the couple smooth the path to financial harmony? To listen, click on the link above or search for Money Clinic wherever you get your podcasts.