Money may not be the most romantic topic for couples, but avoiding it can create problems long after the honeymoon is over. A financial education guide from First Horizon encourages couples to have honest conversations about debt, spending habits and banking decisions before combining finances — and the statistics suggest many people aren’t doing just that.
One of the biggest issues is debt. According to the guide, 45% of recently married Americans said they did not discuss debt with their partner before getting engaged. Even more striking, 86% of people who married within the past few years said they entered the marriage with debt. Those financial obligations can include student loans, credit cards, vehicle loans or other balances that affect a couple’s future together.
Financial disagreements are also more common than many people realize. The guide reports that 48% of couples earning more than $50,000 annually said money is their biggest relationship challenge, while 44% said they argue about money. Trust can also become an issue, with 32% of people in serious relationships admitting to spending money their partner doesn’t know about. In addition, 42% said they view financial infidelity as being just as serious as physical cheating.
Open communication can make a difference, yet many couples still avoid regular discussions. The report found that 40% of couples talk about finances weekly, while only 30% have daily conversations about money. Setting aside regular time to review bills, discuss financial goals and plan major purchases can help reduce misunderstandings before they become larger conflicts.
First Horizon recommends several practical ways to make money conversations easier. Those include scheduling regular financial check-ins on the calendar, planning informal ‘money dates,’ reviewing bills and account statements together, respecting each other’s spending styles and working with a financial planner or accountant to establish long-term goals.
Another important decision is whether to combine finances. There is no universal right answer. Some couples prefer fully merged accounts for simplicity and transparency. Others keep finances separate for greater independence, while many choose a hybrid approach by sharing a joint account for household expenses while maintaining separate personal accounts. The guide notes that one in five couples regrets combining finances with their spouse or partner, and those who earn more than their partner are more likely to feel that regret.
The takeaway is simple: financial compatibility isn’t about having identical incomes or spending habits. It’s about having honest conversations, setting shared goals and creating a system that works for both partners before money becomes a source of conflict.
First Horizon Bank is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. It’s the powerful tools you need with the personal service you deserve. Contact First Horizon for all your banking needs.
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