Saving and Investing with a Partner: The Pros & Cons

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joint savings and investments

Have you ever saved or invested with your partner? Or you have considered this at a point but wondered if it’s a safe choice? We also pondered on this and went in search of answers. Apparently, a lot of ways have been established for romantic partners to connect with each other. Exotic dates, walk in the parks, positive comments, clear communication, and regular visits among many other activities have been highlighted on the love masterplan.

Still, an important issue less discussed is money management with your partner.
Sometimes, partners have goals and activities planned before them, ranging from a road trip or baecation to planning a wedding or preparing for a child. Other times, they have to cultivate the habit of saving and investing the right way. However, conversations around how this happens, benefits, challenges and relevant counsel on saving or investing with a partner have not been thoroughly discussed.

Thus, we have curated experiences of different Nigerians who have tried to save and invest with their partner, highlighting their respective successes and failures. We didn’t leave the singles out as well, we featured some opinions of Nigerians who are yet to try it out. Read them below.

Lisa, 24

Sure, yes. I have saved with my partner before. Since 2017. We have been saving together before we started dating. We were both students and he saw that my parents and my siblings usually send me a lot of money which he said I waste on makeup, lol. So, he helped me to start saving.

That time, I used to save with him. I started with 1,000 every day. I think that brought us closer because where your money is, your heart is too. Lol. Later at the beginning of 2019, I started using the app and I was really happy opening the app to see my money every day.

Anyway, to me, I think saving with your partner helps the two of you bond well, to understand your needs and what you can do without. That’s all. Yes, it helps create trust too, money is delicate, so if someone can help you get better at saving, it is easier to trust them, in my opinion. I will always be open to the idea now and forever. We are no more together sha. LOL.

Peter, 37

Saving and investing with your partner works when both of you have shared goals and vision. I have not done it with my partner because she is the type that believes that her money is only for her but my money is for the family.
I would like to adopt saving with my partner one day because collaboration works wonders. You can achieve much more in a short time and can also expand much faster. Though clear rules have to be laid down for the management and administration of funds. This will help curb any misunderstanding in the future.

Chidinma, 26

Tried this, several times, and we ended up spending all of the money. It was so frustrating. Once we fell into a little crisis, my partner would needle and needle until all the money was gone. He never thought of sourcing money outside the fund. I don’t know whether it was bad advice that he got but I promised myself I would never put myself in that position again. So I save on my own now. Maybe later in the far future.
I really cannot pinpoint what it was spent on exactly just that I was easily bullied then and emotionally blackmailed and harried constantly.🤣 But I am definitely the bully now. 🤣

Yewande, 25

I’ve not saved with my partner before now but it’s something I will definitely love to do. It helps to build financial intelligence. It fosters trust and accountability between partners. It’s the best approach toward the achievement of joint goals. But…it can cause pressure if not managed well.
If either of the partners has poor money management, it might breed reservations if it’s not well communicated.

Emmanuel, 23

I think it’s a brilliant strategy to build a couple’s financial goals. There are pros and cons, yeah, but I think a couple that’s intentional about their relationship would not mind the pros and cons because there’s nothing that doesn’t have pros and cons.🥺 Would I be willing to do it? Absolutely. But as per single pringle wey we dey, na to just dey imagine am.

Do you currently save with your partner? Or do you have an opinion on this? Share with us in the comment box.


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