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Setting savings goals with your partner

Make saving with your sweetheart smooth sailing

Melissa em February 12, 2021

Setting savings goals with your partner

Last Valentine’s Day, we explored the benefits of having an open and honest talk with your significant other around finances. If you got that awkward hurdle out of the way — congratulations! You’ve already conquered the first crucial step (which we’ll recap for you below).

Now, you may have started thinking about a serious, long-term future together. And this means saving and working towards realistic financial goals together. But if you’re not sure where to start, not to worry. We’ve gathered some quick tips that’ll make saving with your soulmate a breeze.

Have a conversation

Communication is the key to any relationship. That’s why the first thing you’ll want to do is have a heart-to-heart with your loved one if you haven’t done so already. You’ll both need to make sure you’re on the same page regarding finances and your objectives. What are you saving for together? Is it a home, your children, a pet or your next romantic getaway? Whatever it is, you’ll need to ask yourselves the tough questions:

  • What are your spending habits like?
  • What will our budget be?
  • How much are you willing to put away each month?
  • How often will you check in to make sure you’re both keeping on track?
  • How will you handle it if one of you goes over budget?

Open a joint account

When you’re working towards a financial or savings goal together, a joint account can come in handy. Our Monese joint accounts make it so much easier for couples to plan, save, budget, spend and keep track of expenses together. Make use of advanced features such as a shared Spending Overview screen and real-time notifications, so you both stay in the loop. Opening a joint account is fast and free. Open one straight from your app to set up direct debits and manage other payments and bills together.

Determine your combined net income

Your net income is the amount of money you’ll have in your account after deductions. We make it easy for both of you to get paid right into your Monese joint account and combine your net incomes, so you know exactly how much you’re working with. Sharing your joint account details with each of your respective employers can be done straight from your app. Your employers shouldn’t have any issues paying your salaries regularly into your Monese joint account with these details.

Make a budget that works for both

We recently ran a poll on our Instagram asking our community if they were the spender or saver in the relationship. The results came back nearly split, with 51% considering themselves the spender and 49% calling themselves the saver.

It’s important to be self-aware and know which each of you is in the relationship. You’ll need to factor this in when creating a balanced budget that works for both of you. Our Monese joint accounts make it easy to set up a monthly budget, so you’re both able to keep tabs on your shared transaction feed.

Valentines Visual

Save together

Once you’ve discussed your budget and established what you’re saving for, you’re ready to create your savings pots to keep your savings separate from day-to-day spending. Under your joint account, you can set up up to 10 different savings pots if you’re saving for more than one thing at a time. Give each pot a name and set a target, so you both stay in the know regarding your progress. You can even round up your transactions by up to 10 and send the spare change to a designated pot to help you reach your savings goals even faster!



When saving on your own, it can be easy to fall off the bandwagon. But saving with a partner can help keep you both accountable to one another. We hope that with these tips and our useful app, you’re able to find financial bliss with your better half. If you have other advice, feel free to share it with us on Facebook, Twitter, Instagram or drop us a line at community@monese.com.

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