Valentine’s Day has come and gone — the flowers have faded, the chocolates are gone and the romantic dinners are over. But if your relationship is becoming more serious, now is the perfect time to start showing your finances a little love.

Making plans to move in together or share your finances can be exciting, but it also comes with responsibilities. Understanding your financial and legal obligations and knowing where to get help if you need it — can make life together run more smoothly.

Start the Conversation Early

The earlier you talk about money, the better. It’s not about being boring or practical — it’s about building a foundation for a strong relationship.

Start by understanding each other’s attitudes toward money. Are you a saver or a spender? How do you approach debt? What are your short and long-term goals? Open and honest conversations now can prevent misunderstandings later.

Know Where You Stand

Chances are you and your partner are in different financial situations. You might have different incomes, assets or debts. To get a clear picture, make a list of your combined:

• Income
• Regular expenses
• Assets (property, vehicles, and investments)
• Superannuation
• Debts and loans

This isn’t about comparing or judging — it’s about transparency and understanding where you both stand.

Agree on Shared Goals

Once you know your financial starting point, talk about what you want to achieve together. Are you saving for a house, a wedding, children, travel or even financial independence?

Agreeing on your shared goals — and understanding how long it might take to reach them — helps you work together rather than against each other. You might need to pay down debt first, reduce spending or make other adjustments to reach your objectives.

Moving In Together

Deciding to live together is an exciting milestone, but it’s also a practical one. Before signing a lease or buying a property, take the time to:

• Do a joint budget
• Work out what you can realistically afford
• Decide how bills will be split
• Clarify whose name goes on what

Remember, if you both sign a lease or take out a loan together, you’re both legally responsible. It might not sound romantic, but it’s essential for avoiding complications later.

Sharing Money and Debt

When it comes to bank accounts, credit cards, and loans – caution is key.

Joint bank accounts can make managing shared expenses easier, but it’s important to agree on how they’ll be used. Many couples keep one joint account for bills while maintaining separate personal accounts for independence.

Credit cards and loans carry shared responsibility. If both names are on the account, both credit scores are affected. If one person can’t pay, the other may be required to cover the full amount. Always think carefully before acting as a guarantor or taking on debt solely for your partner.

Protecting Your Assets

If either of you has significant assets — like property, investments, superannuation or a business — consider a Binding Financial Agreement, also known as a prenup. This legally sets out how assets and financial responsibilities are handled if the relationship ends. It’s not planning for failure — it’s about clarity and protection for both parties. Independent legal and financial advice is essential.

Planning Your Financial Future as a Couple

If you’re serious about building a life together, it’s worth reviewing your broader financial situation:

• Update your wills to include your partner as a beneficiary
• Review your insurance policies, including life and health cover
• Check your superannuation beneficiary details
• Understand tax implications, including Medicare levy and offsets
• Consider any Centrelink impacts

Even small changes now can save stress and confusion later.

Love Isn’t Just Flowers

Romance fades but financial security lasts. Talking about money, aligning your goals and protecting your assets isn’t unromantic — it’s loving. Because a relationship built on transparency, trust and shared planning isn’t just about today — it’s about your future together.

If you’re unsure where to start, getting advice early can make all the difference.

IMPORTANT INFORMATION: This document has been prepared by Enhance Financial Partners, ABN 45 146 707 173 AFSL 515518, based on our understanding of the relevant legislation at the time of writing. While every care has been taken, Enhance Financial Partners makes no representations as to the accuracy or completeness of the contents. The information is of a general nature only and has been prepared without consideration of your individual objectives, financial situation or needs. Before making any decisions, you should consider the appropriateness for your personal investment objectives, financial situation or individual needs. We recommend you see a financial adviser, registered tax agent or legal adviser before making any decisions based on this information.