Background
Let’s set the scene. The Handsome Surfer is 49 and The Frugal Doctor is 41. We’ve been together for 6½ years and married for 1½. When we first met, we were both homeowners and share-market investors. At the time, I was self-employed as a sole trader, while he ran a small business through a trust. In other words, we each had our own money habits. Although we share a similar tolerance for volatility, he tends to be more conservative. As a result this balances out my willingness to take calculated risks. How we manage money as a couple is unique to us as a couple.
Talking About Money Early On
The Handsome Surfer recently reminded me that we talked about money on our second date. He proudly shared how he’d been smart with money. That was until I pointed out that he had fixed his whole home loan (at over 8%) during the global financial crisis. This was right before rates plunged, it might not have been the most brilliant move after all. It was playful, but honest. And that set the tone for our relationship: we could talk openly about money, disagree respectfully, and keep learning from each other. Besides our mortgages, neither of us carried consumer debt: something we both valued deeply.
Moving In Together
When it was time to take the next step, I remember weighing up how best to manage money as a household. We decided to open a joint expense account with Up Bank, which offers excellent expense-tracking tools. Each of us contributes a set amount into this account every week. Meanwhile, The Handsome Surfer’s home became an investment property. We worked together to get it ready for tenants. That process: painting, repairs, late-night cleaning, became an early test of how well we could operate as a financial team.
Yours, Mine, and Ours
Our approach is simple: yours, mine, and ours. Income flows into our individual accounts. Joint expenses come out of the “ours” account. The joint account covers housing, groceries, insurances, entertainment, gifts, and travel. Basically, anything we share or enjoy together. We each contribute half of $1,175 per week (around $61,000 per year).
For bigger goals: like our four–month mini–retirement in South America, we set up a separate joint savings account with UBank. We estimated a $60,000 budget and each saved half into that account. As expenses came in, we transferred funds to the main joint account to keep everything neat. When The Handsome Surfer sold his business and received a windfall, he generously used part of it to fully offset my mortgage. That gesture spoke volumes about trust, teamwork, and shared goals. We don’t micromanage who pays for what. We plan, communicate, and play to our strengths.
Our Financial Independence Plan
We run financial independence retire early (FIRE) projections both individually and as a couple. As a household, our estimated annual spending is $140,000 giving us a FIRE number of $3.5 million (25× expenses). Right now, we’re about 95% of the way there, if we count only income producing assets (including superannuation) and exclude our primary home.
Our shared philosophy is worth as a team, plan together, and keep money as a source of connection not conflict. We also analyse things individually and collectively:
- The Handsome Surfer can access super in 11 years.
- The Frugal Doctor must wait 20 years, so I focus on building assets outside super while he channels more funds into his.
- If one holds more in property, the other holds more in shares. This is to reduce concentration risk.
- At the moment, The Handsome Surfer has stepped back from full-time work. He will cover sequence–of–return risk by working part-time and drawing lightly from his portfolio.
Final Thoughts
Managing money as a couple doesn’t have to be complicated or tense. It’s a balancing act. What matters most is honest communication, clear systems, and shared goals. We still don’t agree on everything. But we both know we’re rowing in the same direction. That is toward freedom, time, and a life built intentionally together.
Your Turn to Reflect
Every couple’s money story is different, but the principles are the same: communication, clarity, and collaboration. How do you and your partner approach money? Do you merge everything, keep it separate, or take a “yours, mine, and ours” approach like us?
Start by asking yourselves:
- What are our shared goals for the next five years?
- Do our spending habits align with those goals?
- Are we both clear on what financial freedom looks like for us?
Money conversations don’t have to be awkward. They can be a bridge to deeper trust and shared vision. Maybe tonight, instead of talking about bills, talk about what you both want life to look like when you no longer have to trade time for money. Because at the end of the day, it’s not just about managing money well. After all, it’s about designing a life you both love.
Join the Conversation
Talking about money is one of the most powerful things you can do for your relationship. If this post resonated with you, share it with your partner or drop a comment below. How do you manage money together without the fights?