Savers and Spenders in a Relationship Together 

People who have different values and ideas about money can learn how to work together as a team in a relationship. If one partner is a saver and the other is a spender, each partner can learn from the other person’s strategies. Differences in opinions over money can cause problems in the relationship if they are not dealt with effectively.

There are pros and cons to being a saver and a spender. Savers are able to tuck money away for a rainy day, save up for large purchases, and tuck away money for emergencies. However, some savers are not able to enjoy the moment. They struggle to treat themselves and feel the need to “save for good.” Sometimes they even feel guilty spending any money.

Spenders have trouble keeping money in their pocket. When they are expecting a bonus or a tax refund, sometimes they spend it before it arrives, spend it again when they receive it and spend more after they receive it, resulting in the money being spent three times over. Spenders, however, enjoy the moment. They can be generous with their money and be willing to help those around them.

Set a spending limit with your partner. Decide on what the threshold is for making a purchase without consulting the other person is. For some couples this might be $40 and for other couples it might be $1,000. Talk it over and take your partner’s feelings into consideration.

Set a budget. Discuss monthly bills and set aside money for savings. Discuss how much of an emergency fund is needed. Also talk about setting money aside for long-term goals like kids’ college funds or caring for elderly parents.

Don’t ignore financial problems. If you have credit card debt and problems keeping caught up on bills, develop a plan with your partner. Avoid placing blame on your partner, but do take responsibility for your spending habits. Do not hide money or try to cover up purchases. This will only cause bigger relationship problems.

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