When couples discuss finances, individuals tend to react when a partner talks about “my” money rather than “our” money. Even when couples have the traditional roles of breadwinner and stay-at-home parent, financial decisions work best when made jointly. Otherwise, they create a power imbalance in the relationship.

One person may be the family bookkeeper, monitoring what comes in and where it goes. Hopefully, the couple occasionally talks about finances, so choices about where the money goes reflect their joint values on spending and savings.

It is a joint decision when a couple decides that one spouse will work and the other will primarily care for the children. Therefore, financial choices also need to be made jointly. If both partners work, joint decision-making remains important despite income differences.