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Wealth Management

Valentine's Day: Even your finances need a little tender loving care

Roses are Red; Violets are Blue; February is the month of Valentine's Day, but what does this mean to you? Relationships can always benefit from a little TLC but how do couples actually handle finances with their partner successfully?

Valentine's Day: Even your finances need a little tender loving care

Love is in the air, everywhere I look around. The annual celebration of love, and not actually knowing what to buy your significant other, is now upon us. While some people revel in the romance at expensive restaurants and others like to shun the over commercialised holiday, you would be surprised how some couples approach their joint finances.


A 2020 study conducted by M&S Bank has found that a quarter of couples don’t actually feel all that comfortable discussing their finances with each other. This research polling 2,000 adults in a relationship found just 17% regularly talk about finances with their partner.


Of the 2,000 adults polled in the study, more than one in 10 are apprehensive about discussing how much they earn and any personal debts they may have, with some not even knowing the details of their partner’s salary.


The study revealed some of the common excuses for avoiding certain aspects of financial discussion between couples, which were not finding a good time, feeling embarrassed and wondering how their other half might respond. Couples in particular felt embarrassment to discuss their shopping habits for fear of being viewed in a certain way, especially if spending more than what their partner would feel comfortable with.


Couples are more likely to exchange the phrase of “I love you” before discussing the details of their financial position. On Valentine’s Day, couples usually aim to make a big romantic gesture for their partner in a display of love and trust, but why are some people more guarded when it comes to the topic of money?


Some research conducted by the Financial Times, through an appeal on social media, showed that people were happy to share details of their joint money management (albeit anonymously) because they were somewhat curious to see how other couples compared. The common themes and potential limitations are shown below in a graph.


The graph shows that couples are more open to having a current account together with their partner in joint names, usually for daily shared responsibilities like food shopping and bills, however are less likely to share their financial investments. Couples choose to manage their money together with separate accounts, a joint account, or a combination of both, which usually reduces the chances of having any conflict over money.


Unavoidably money continues to be a tricky topic for any couple to deal with. It is the most common source of conflict in relationships, and a subject that can escalate into heated arguments or stubborn silences. This is hardly a surprise when money shapes your daily life and long-term aspirational goals for the future. Being more open and honest with your partner can help keep these money battles at bay.


It’s important to note that discounting your partners finances, or even undervaluing their contribution, can lead to confusion about your own financial position. Wealth management and financial planning tools as offered by Rosecut can help couples have full, collaborative transparency on financial goals and status. So, when you are thinking about the future, you can plan together accordingly and accurately by giving your finances the love they need.

Happy Valentine’s Day from all of us at Rosecut and don’t forget to subscribe to our newsletter further below.


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