Money the biggest test of relationships
Romance may be in the air with Valentine's Day just behind us, but it’s not all wine and roses when two people combine their finances and aspirations in the name of love.
For a lot of young couples, the big dream is simple: save hard, buy a home, and finally feel like you’re “set”. After years of skipped holidays and saying no to nights out, getting the keys to that first property feels like crossing the finish line.
But buying your first home isn’t the end of your financial journey — it’s the beginning.
Once you’re in the door, the decisions you make next matter even more. A small side hustle, a pay rise, or salary sacrificing a little extra into super can dramatically change your long term financial security. And the numbers speak for themselves. On a $600,000 loan at 6%, paying just $200 extra a month could save you around $70,000 in interest and cut more than three years off your loan. Boost that to $500 extra, and you’re looking at $150,000+ saved and around seven years shaved off. That’s the power of small, consistent decisions.
Why Money Conversations Matter
According to Relationships Australia, money is one of the biggest sources of conflict for couples — and younger Australians are feeling it most. With the average mortgage now over $600,000, it’s no surprise that one in three couples say finances are their number one stress.
As advisers, we see the impact up close. When couples avoid talking about money, it doesn’t just create tension — it can quietly erode trust. The Australian Institute of Family Studies notes that financial disagreements are one of the strongest predictors of long term relationship dissatisfaction.
It’s also common for one partner to take the lead on finances while the other stays hands off. Everything feels fine… until something goes wrong. Around 40% of Australians don’t know the full details of their partner’s accounts, debts or investments. When a relationship ends or a partner passes away unexpectedly, the person left behind is suddenly forced to navigate a financial world they never had visibility over.
Tips to keep your financial life running smoothly
Money shapes so much of your day to day life together, but it doesn’t have to be stressful. A few simple habits can make a huge difference:
1. Have regular money catch ups
A 10 minute chat once a month keeps you aligned on spending, saving and upcoming expenses. It’s amazing how much tension disappears when you’re both on the same page.
2. Share visibility, even if you don’t share accounts
You don’t need joint accounts to have joint awareness. Use shared budgeting apps, a simple spreadsheet or even a notes app to keep track of bills, savings goals and upcoming commitments.
3. Plan for big life moments
Buying a home, starting a family, changing careers — these milestones are easier when you’ve talked through the financial side early.
4. Protect each other
Make sure you both know where key documents are: insurance policies, super accounts, Wills, loan details and emergency contacts. It’s not romantic, but it’s responsible, and it gives both partners peace of mind.
5. Build wealth as a team
Whether it’s paying extra off the mortgage, investing regularly, or boosting your super, small consistent steps compound over time.
6. Keep the in laws at arm’s length
Nothing ends unsolicited financial “advice” faster than showing you’ve got a plan. A united front keeps family dynamics calm and your goals clear.
When you may need to see a financial adviser
If your circumstances become more complex, or you receive a sudden windfall like an inheritance or the proceeds from selling a business, it’s important to seek professional advice. You can meet our team of advisers online and book a no-obligation chat to see how we might be able to help. The right guidance can help you make smart decisions, protect your assets and achieve financial security and freedom sooner.
General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977. Rev Invest Pty Ltd is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977.