In a long-term relationship such as marriage or cohabitation, the choice to love also often means that the partners in it should be able to work on it constantly by keeping a steady cash flow aside from keeping their common home in tip-top shape.

Maintaining a relationship is difficult when both partners have to deal with disagreements about money, from savings and investments to bill payments. Sometimes, the simple existence of money and how it practically runs marriages and relationships take an emotional toll.

Money Pitfalls Couples Face

According to Investopedia, six common money issues could ruin relationships. 

First, couples tend to fail to pool their earnings together, which can lead to resentment and friction among partners, especially if they have a disproportionate income. This also covers issues regarding financial infidelity, or the practice of one partner or spouse hiding money from the other. 

Another common issue between couples is that some come together with financial baggage, such as debts or bad habits. Issues like these tend to be a source of marital or relationship quarrels even though debts brought into a marriage stay with the person who incurred them and is not extended to a spouse, unlike debts incurred after marriage. This is particularly true in nine US states: Arizona, California, Nevada, Idaho, Washington, New Mexico, Texas, Louisiana, and Wisconsin.

A third issue is that not everyone has the same personality, even children raised in marriages and cohabitations. A common argument between partners is when one tends to save as much as possible while the other might be a big spender. 

The fourth complication is related to the previous ones: the use of power plays. This is possible, especially if one partner has a job or money and the other does not or if there is a disproportion in income if both partners are working.

Some marriages and relationships involve raising children. This means that their needs must be considered in addition to the already-existing financial status of a certain household. It also depends on whether a couple's offspring decide to have a family of their own or stay in their nests.

Finally, there is also the issue of extended family, especially if one of the partners has a large family or is financially struggling. This is in addition to keeping one's household afloat and ensuring that children are properly cared for.

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But how could couples avoid such financial - and emotional - ruin? The Motley Fool provided three key tips couples should do.

Communication is Key

Like in every other aspect of a relationship, couples should communicate clearly what is on their minds. This is the same-perhaps even vital-when it comes to finances, especially when partners move into a single roof together. 

In a 2023 Thriving Center of Psychology survey, 65% of unmarried millennials and 35% of unmarried Gen Z couples live with their partners. While moving in together to save money on rent and other monthly bills is beneficial, some young couples face big adult headaches about money, such as financial inequality and the realization that they moved in together too fast. 

This means that couples, regardless of age or status, should take some time to talk with each other and devise financial measures that are tailor-fit for the relationship or marriage, especially when children are involved. 

Split Bills According to Each Partner's Means

However, there would still be issues that, even if appropriately communicated, would still be a thorn in both partners' sides in the form of bills and personal income. 

In an ideal world, couples should have a similar income to split the bills. But this is not always the case. 

If one person earns more than the other, the higher-income partner would obviously have to pay a higher share to be equitable to the other. Another approach to paying bills is to combine the total dues and discuss what percentage each partner could fairly chip in to pay all of them.

Set Big Goals Together

Finally, couples should also consider setting big goals to motivate each other to reach them and solidify their marriages and relationships in the process. 

The best way to keep each other on track is for couples to discuss their financial status regularly. But at the same time, they should also make sure to have fun doing so and not be too frugal. 

In the end, what matters most in a relationship is for lovers to choose to remain with their partners despite financial discrepancies because they work together to keep their love alive and their pockets full.

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