Watching Your Wallet: How Couples Can Build a Strong Financial Foundation Together
Money is one of the most important — and often one of the most challenging — topics couples face in a relationship. From shared budgeting to joint expenses, linking bank accounts, or navigating different spending habits, financial conversations play a major role in creating long-term stability.
To help couples approach these topics with clarity and confidence, Portfolio Advisors Inc.‘s Lead Financial Advisor, AJ Flores, CFP® joined ABC30’s Watching Your Wallet segment to discuss how partners can build healthy financial habits before and during marriage.
Why Talking About Money Matters
Financial compatibility doesn’t mean agreeing on every dollar — it means having open communication, shared expectations, and a plan that works for both partners.
“Having some sort of structure around these conversations with a significant other is important,” said AJ Flores, Lead Financial Advisor at Portfolio Advisors in northwest Fresno.
Flores explains that couples often avoid money discussions because they feel uncomfortable or personal. Yet these conversations are essential to understanding each partner’s money mindset, financial values, and long-term goals.
Every couple’s situation is unique, which means there is no one-size-fits-all approach to merging finances. What matters is that both partners feel informed, included, and aligned.
Different Ways Couples Can Combine (or Not Combine) Finances
There are several approaches to managing money as a couple, and each comes with benefits depending on the relationship dynamic.
Flores breaks down the common structures couples rely on:
- Fully joint accounts
- All money goes into shared accounts
- All spending and saving is done jointly
- Fully separate accounts
- Each person maintains their own accounts
- Partners split or assign shared expenses
- Hybrid approach
- A shared account covers joint bills (mortgage, utilities, groceries)
- Separate accounts allow for personal spending autonomy
“You could go all in on a joint bank account, or you could have separate bank accounts that you each pay into and spend independently from, or you could have some hybrid variation of those two where your joint account funds joint expenses,” Flores said.
There is no “right” way — only the way that supports transparency and reduces financial friction in the relationship.
Planning for the Unexpected
While many couples focus on day-to-day budgeting, Flores emphasizes the importance of preparing for life’s uncertainties.
“Whether it’s divorce or a spouse predeceasing you, it’s important that both partners be on the same page, understand what the income is and what the expenses are,” he said.
Understanding the full financial picture — income, debts, assets, bills, and long-term obligations — helps protect both partners and ensures stability no matter what life brings.
When working with clients, Flores asks specific questions to determine:
- Who manages which financial tasks
- Whether both partners understand account locations and access
- What plans are in place for emergencies or loss of income
This shared knowledge is crucial to preventing financial disruption.
Setting Expectations: Budgeting, Banking, and Values
Deciding how money is handled should be an intentional conversation — not something couples figure out in moments of stress.
Flores encourages partners to:
- Discuss personal spending habits
- Identify financial stressors or fears
- Agree on a budgeting structure
- Decide how to track joint expenses
- Set boundaries for discretionary spending
“Every couple is going to be different, and understanding where your values find alignment and what solution works for the two of you is going to be the best way to proceed,” Flores said.
In addition to daily budgeting, he recommends establishing a joint savings account, especially for emergency expenses. Having a shared safety net helps couples prepare for job loss, medical costs, major repairs, or unexpected life changes.
Building a Healthy Financial Partnership
Money shouldn’t divide couples — it should be a tool that helps them build the future they envision together. By communicating openly, setting expectations early, and creating a system that reflects shared values, couples can strengthen both their finances and their relationship.
Portfolio Advisors Inc. is grateful to ABC30 and Vanessa Vasconcelos for spotlighting this important conversation in their Watching Your Wallet segment and helping educate couples throughout the Central Valley about building strong, transparent financial habits.
For more financial tips and planning resources, visit our Knowledge Center.
