What financial advice can you give to a couple whereby one is about to start work but the other is only going to graduate in 2 years?

I was in the same situation 10 years plus ago. Same age but in NS so wife was 2 years ahead. All the conversations around our finances and hopes definitely helped, but they were all theoretical. When one starts working and getting an income, the practical experience will change one's perspective. So what I can suggest is this: if the still-studying one is able to cope academically, why not get him/her to start part time jobs at the same time the other half starts working?

While the income will allow you to contribute to expenses on some level vis-a-vis your other half, the main benefit is the working experience which basically aligns both your perspectives about income and expenses. This common practical ground will help to reduce the gap between your thinking and his/hers, and make it easier to work things out financially.

Interestingly, I knew of a couple who were in the same situation - they talked alot about such things, even down to how many kids they wanted and the placement of furniture in their future home - only to split up a few years later.

It turned out that they were in disagreement over many things, and could not reconcile those differences.

The reason why I mention it is that over and above the finances, its critical to have both parties be aligned in terms of financial habits and goals.

1. Understand what your individual financial goals are, and then your joint goals.

2. If you both agree to work towards joint goals, identify any changes you need to make to lifestyle. For eg. if you have a certain savings goal, it makes sense to cut down on certain expenses.

3. Discuss how expenses will be split. With one person working in a job earlier than the other, will this change how you split expenses?

Like Clarence said, it's all about communication and being aligned as a couple.