How to split expenses with your significant other

Money affects relationships more than we would prefer to admit. So it’s important that you work out a good system with your partner when it comes to sorting out your money, and sharing the expenses. Here are some pointers from my experience that may help.

1. Communication is key. Ensure you have an open and honest conversation when you talk about money. Secrets will make things difficult.

2. Have your own accounts. It's important to have some independence, including financial independence. Like having some social time to yourself, it’s also important to have some sort of financial freedom’.

3. Keep a running total of your expenses. A great way to do this is to use Beem It’s group expenses feature to keep track of all your costs. This way you can see who has spent more. It’ll also help guide conversations when it comes to splitting those expenses fairly. 

4. Finally, communication doesn’t have to be awkward. It's never easy having those conversations, no matter how close you are. If you do need to split bills, make it easier by using Beem It. It takes a lot of the awkwardness out of those moments. There’s a reason why these types of apps are starting to take off in Nordic countries, or in China. This will mean fewer arguments and more positive time together. 

What is Beem It?

Beem It allows you to pay, request, split and transfer money instantly with anyone in your network, simply using your phone. Owned by CommBank, Westpac & NAB, the app is free to download and use and we won't charge you any nasty fees. Find out more about Beem It here.