How to Approach Money Together in Your Marriage

By: Ben McEachen

No matter how healthy a marriage is, it can be difficult to talk about money.

Discussing finances can bring up all sorts of issues and disagreements, so many of us can just stop talking about money altogether.

Even in our closest relationship / marriage.

Nikki and Hayson Lo believe this doesn’t need to be the case. Between them, they have experience in corporate finance, business and strategy. Together, they host the Money Matrimony podcast.

Nikki and Hayson believe honesty and openness in a relationship are vital, when navigating financial discussions and decisions as a couple.

The relationship between faith, finance and marriage is intricate and complicated. However, Nikki and Hayson believe honesty and openness in a relationship are vital, when navigating financial discussions and decisions as a couple.

5 keys to financial unity

Open communication

Regular, candid conversations about daily expenses and financial goals strengthen marital relationships, according to Nikki and Hayson.

“Having good communication and honest communication, even about our financial mistakes, helps foster a healthier relationship,” Hayson said.

Joint accounts

Combining finances fosters transparency and shared responsibility, ensuring both partners are involved in financial decisions.

“Part of why we started our podcast was because we talked to some friends who [are] married but don’t have joint accounts,” Nikki said.

Learning to be content

Teaching children about contentment and gratitude, regardless of financial status, helps ground them in healthy financial principles. As adults, we can learn so much from this.

“We want our kids to learn contentment, to be content whether they have a lot or a little, and to always be thankful to God,” Hayson said.

Faith matters

Nikki and Hayson understand that all resources come from God and we should be good stewards. They believe this impacts how money is managed and prioritised in your marriage.

“I think whether it’s a lot or whether it’s a little, everything is from God,” Hayson said. “That was really important for us because, by recognising that, it really helps you allocate and prioritise how you spend things. These things that I have [are] not just mine, but I’m just as a steward of something God has given.”

Balancing act

Balancing career aspirations and family time remains a constant challenge. Nikki and Hayson are passionate about regular reassessments of priorities and goals.

“The more time I dedicate to trying to make more income, the less time I have with my kids,” Hayson said. “That’s a tension that I constantly have: So, do I work more and earn more money at the expense of having time and being part of the kids life? Not just [there] on the weekends, but in everyday life, you know? Being able to go… [to] school assemblies and watch [their] performances and things like that.”

“It’s also seeing the value in each other’s contributions, whether financial or non-financial, to help bring about those important conversations and communications,” Nikki said.

For those of us facing similar challenges, especially in high-cost living areas, Hayson and Nikki’s journey offers practical wisdom.

Their balance of strategic budgeting, leveraging family support, and adjusting lifestyle to fit new economic realities provides a robust framework.

“It’s also seeing the value in each other’s contributions, whether financial or non-financial, to help bring about those important conversations and communications,” Nikki said.


Article supplied with thanks to Hope Media.

Feature image: Photo by Andrew Mead on Unsplash