Money talks in relationships can be tricky. One minute, you are planning your next baecation, and the next, you are side-eyeing your partner for spending half of your grocery budget on suya and shawarma. But here is the thing having open and honest money conversations is one of the biggest green flags in any relationship. If you and your partner can talk about money without it turning into World War III, you are already winning.
Why Budgeting as a Couple Matters
Picture this, you just moved in together, and for the first time, you are realizing that one person thinks spending ₦30k on Sunday brunch every weekend is “self-care,” while the other sees it as “financial recklessness.” Without a solid budget, money can quickly become a source of stress. A budget helps both of you stay on the same page, prioritize financial goals, and avoid unnecessary money fights.
Start with the Money Talk (Yes, the Awkward One)
A lot of people avoid money conversations because they feel uncomfortable. But think about it, you would not marry someone without knowing their last name, so why should you commit to financial plans without knowing their money habits? Start with the basics, how much do you both earn? What are your spending habits? Do you have debts? What is your saving culture? Lay everything on the table like it is a Sunday afternoon family meeting.
Set Financial Goals Together
Every couple has different priorities. Maybe you want to buy a car, while your partner is thinking about investing in land at Ibeju-Lekki. Whatever it is, set financial goals that work for both of you. Break them down into short-term (like saving for that December trip to Ghana) and long-term goals (like owning a home in Lekki Phase 1). This way, you are working towards something meaningful together.
Create a Realistic Budget
Now that the hard part is done, it is time to create a budget that fits your lifestyle. This is not the time for vibes and inshallah, you need to be practical. Start by listing your joint expenses: rent, groceries, electricity, internet, and transport because transport fares are not smiling. Then, factor in your individual spending habits, whether it is skincare splurges or your partner’s love for premium football streaming subscriptions. Allocate a percentage of your income to savings, investments, and a little enjoyment because life is too short to be all about bills.
Use Money-Saving Hacks
Lagos life is expensive, but there are ways to make budgeting easier. Buy groceries in bulk instead of overpriced supermarket chains. Plan date nights that do not involve breaking the bank, think Netflix and small chops instead of fine dining at that fancy Ikoyi restaurant every weekend. Apps like Vale can also help you automate savings and track expenses so that you stay in control of your finances.
Respect Each Other’s Spending Choices
Just because you budget together does not mean you must approve of every single purchase. If your partner finds joy in collecting sneakers or spending on the latest gadgets, as long as it is within the budget, let them be. The key is balance, splurge within reason while securing the future.
Check-In Regularly
Budgeting is not a one-and-done situation. Sit down once a month to review your finances. Are you meeting your goals? Are unexpected expenses throwing you off track? Adjust your budget when necessary, and do not forget to celebrate your wins, whether it’s saving enough for a trip or paying off a major debt.
At the end of the day, budgeting as a couple is not about controlling each other’s finances, it is about working as a team. When you and your partner can openly talk about money, make plans, and stick to them, you are building a foundation of trust and financial security. And trust me, that is a major green flag.
