Love and money: Why talking finances can be a romantic gesture

When it comes to couples economy there are different, what could be called as, strategies we advise for a healthy economy. Some main topics to cover in your talks to each other:

1. Talk openly and regularly about finances
   Regular conversations create a safe framework where both feel heard.
    
2. Distribute expenses fairly, not necessarily in the same way
   Find a solution that feels fair to both and takes individual financial situations into account.
    
3. Combine joint finances with independence
   Consider having a shared card and account for fixed expenses and separate accounts for personal use.
    
4. Take into account unpaid work, part-time work, and other periods
   Find a good solution to balance out the economic consequences of leave periods or part-time work.
    
5. Plan for both present and future
   Clarify how joint assets, debts, and properties should be handled, in a cohabitation agreement or prenuptial agreement.
    
6. Give each other financial freedom
   Consider setting aside a sum each month that each of you can freely dispose of. 

Ensure you get an equal pension

How big your pension will be depends, among other things, on what you earn and how many years you work and how your country has set the rules for this. In general, the higher your salary is and the longer you work, the higher your pension will be. The same applies in reverse: the lower your salary and the fewer years you work, the lower your pension will be.

Large differences in pensions for women and men

Women's and men's pensions are not equal today in the Nordics, as shown by statistics from the Nordic Council of Ministers. This is mainly because women, on average, earn less money than men. Women also work part-time to a greater extent and take more days of both parental leave and care for sick children.

Something to discuss: Make sure to compensate your partner or be compensated

How you share time at home is important from both an economic and equality perspective. Not sharing equally can, in the worst case, mean money lost in both lower income and pension in the long run. But there are ways to financially compensate your partner. Read more on our local pages on how to plan this in your case: