TALK ABOUT WHAT MONEY MEANS TO YOU

We all have an ingrained attitude towards money and it’s not uncommon for one partner to be more careful with money while the other is more carefree.

This is fertile ground for conflict – conflict that can only be avoided through communication and planning, Ingram says.

He advises broadening your knowledge of money matters so you can have the conversations you need to have.

Talk about how your attitudes differ. Acknowledge that you need to figure out how you’re going to manage your investments so both of you can sleep soundly at night, he adds.

Your approach to money determines how much risk you can tolerate, and it can cause a real problem if one partner is too risk-prone or too risk-averse.

Financial pressure can be a source of massive strain in a relationship, says Soré Cloete, senior legal adviser at Old Mutual. This is especially true if couples don’t see eye to eye about their spending habits.

Your attitude to money affects so many things – how much debt you choose to get into, how you handle differences in income and how much responsibility you take for extended family.

These are all issues that can cause problems in relationships and can only be addressed once you understand each other’s approach to money.