How do couples manage their finances together?

I appeared in the Straits Times answering such a question, but in case you can't read it as it is a Premium content, I'll summarize how I manage my finances with my wife.

We have a joint account, and we contribute equal amounts to it for daily expenses (groceries, utilities bills, etc)

Our insurances are on our own expenses.

For big ticket items, e.g. electrical appliances, we will use from the joint account as well.

We keep each other updated of our expenses and income (we have a shared google sheets for this), and any purchase beyond 2K requires both of us to agree upon it. anything below, doesn't require.

There's no right way, as long as there's accountability and openness, that will establish trust in the relationship.

Hope this helps! :)

Reach out to me if you have any queries.

The broad stroke is to sit down and make sure that your financial goals are aligned.

This will allow you both to be on the same page. It would be easier to set aside sums for a merged account once that is done.

I do not see it as a sensitive issue at all. Being honest is liberating and will only increase the trust in the relationship when done correctly. It is an issue which you both need to address so that you both know where you stand. Having a plan is better than no plan.​​​