skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus

Money and relationships are intensely connected

Published 12 May 2017

Well-planned use of money is key to long-lasting love, says relationship expert Katia Loisel.

The famous sonnet by Elizabeth Barrett Browning that begins, “How do I love thee? Let me count the ways”, makes no mention of money. But relationship experts know it should be a subject at the top of every couples’ list.

In this digital age, relationships often begin based on what the other person looks like (think online dating sites and apps such as Tinder), but when it comes to long-term enduring love, much more is required. A great set of abs or pretty face is not going to pay the bills or support your family if you die or suffer an accident.

Relationship expert, Katia Loisel, says money is one of those often overlooked aspects of a relationship that has enormous influence.

“Unfortunately when we’re choosing Mr or Ms Right most of us are so focused on falling in love that we don’t think twice about whether we’re financially compatible,” she says.

“We come into a relationship with our own upbringing, experience, expectations and values and how we view money can be quite different to how our partner does. Many couples skirt around financial discussions and that can cause problems down the track.”

Having an agreed-on budget, being well-insured so you’re financially protected from the unexpected and having a vision for your financial future are all things that create openness, health and peace in relationships.


Protect the ones you love

If there are people in your life who depend on your income, life insurance can mean the difference between their continued financial security and sudden financial hardship or even outright poverty.

Life insurance is used as a broad term to describe different forms of insurance relating to life events, such as getting sick or passing away. This includes life or term insurance, income-protection insurance and total and permanent disability insurance.

While it can be a confronting topic to talk about it means your loved ones are financially protected should the worst happen and reduces the chance of money problems adding additional stress.

survey from Relationships Australia found 85 per cent of respondents thought financial problems were likely to push couples apart.

Loisel says this is because when there are issues with money it can trickle down to other areas.

"It’s not just about how much you have or how much you spend, it’s about your values, your beliefs and your self-worth," she says. "Money is one of the main reasons couples argue, so sorting out your financial roles and responsibilities and getting your admin in place is important."

Sharing the load

Loisel identifies some of the key sources of friction around money as breaches of financial trust such as:

  • hiding debts
  • overspending
  • buying big-ticket items without consulting your partner
  • irresponsible financial behaviour that damages your partner’s credit rating.

"A power imbalance where one partner feels the need to control all of the finances can also break a relationship," Loisel says.

But while it makes sense on paper to discuss finances, some people prefer to be less involved. For some, Loisel says, finances can bring up negative emotions or makes them feel overwhelmed.

"People have different reasons for not wanting to talk about money. And it can cause conflict if one partner is less engaged. But if this is the case, make sure they are still across the basics. Make sure they know where the accounts are and that they’re involved in the big decisions. And these discussions need to be had early – not when you’ve had three kids."


To help couples talk about their finances, Loisel (pictured) has developed a guide based on the different stages of a relationship: honeymoon, nesting and lifelong.

1. Honeymoon stage

This is the early stage, where you are getting to know your partner. You haven’t spoken much about finances but as the level of intimacy increases, you should begin to discuss your spending style, such as what money means to you. This will help avoid future conflict and address any potential red flags.

2. Nesting stage

This is when 'I' becomes 'we'. You are deeply in love, have moved in together, and are maybe planning a family. This is the commitment phase and often the time when finances are pooled, which can bring financial differences to a head. Setting a budget and mutual financial goals is important at this time. Other key issues include how the financial roles will be split, for example, who will look after the children and who will continue to work.

3. Lifelong partners

This is when you know you are in the relationship for the long-term and while it might seem like a long way away, it is the time to start talking about retirement plans and investments.

Loisel says looking out for your partner’s long-term needs and financial security reduces stress and shows that you are caring for them even after you’re gone.

"The biggest fear we have is what may happen to our partner or children if we’re not around or can’t provide for them," she says. "Insurance alleviates some of that fear. It also lets your partner know that you’re thinking of them for the long term. This is what makes insurance such a romantic gesture."

Life insurance for couples

Couples looking to purchase life insurance together can choose to take out two individual policies or a joint policy. The biggest difference between the two types of policies is the cost and the amount of flexibility they provide.

How do you know which option is best for your family? A joint life insurance policy covers two lives in the one policy. Most operate on a ‘first-death’ basis, which means the sum insured is paid out when the first member of the couples dies.

A single life-insurance policy provides cover for one person only. If both partners have single policies and one of them dies, that policy is paid out but the surviving partner is still covered by their own policy.

Individuals can increase or decrease their cover independently of one another and include additional cover such as trauma, and total and permanent disability. Individuals can also choose to take out insurance through their superannuation fund. This can be cost-effective as it enables them to pay their premium with pre-tax dollars.

Whether you opt for a joint or singles policy, knowing you’ll both be looked after should the worst happens brings peace of mind and reassurance. And what could be more romantic than that?


Find out more about ANZ life insurance

13 16 14

Mon-Fri 8am to 7pm (AEST)

Learn more about life insurance


What are the different types of life insurance?

Learn about the types of life insurance, including critical illness insurance, income protection insurance, and more.


Life insurance FAQs

Get the basics covered. Find out the cost of life insurance, the benefits, whether you need a medical exam, and more.


Myths about life insurance

Many people believe they're too young for life insurance, or it's too expensive. We explore and bust those myths.

This information is current as at date of publication and is subject to change.

The issuer of this information is ANZ. While ANZ has taken care to ensure that this information is from reliable sources, it cannot warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, ANZ does not accept any responsibility or liability arising from your use of this information.

Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL 234527 is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). The issuers of these products are not Banks. Although ANZ distributes these products, these products are not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuers or the products. 

ANZ Life Insurance is issued by OnePath Life Limited (OnePath Life) (ABN 33 009 657 176, AFSL 238 341). We recommend that you read the ANZ Financial Services Guide (PDF 479kB)ANZ Life Insurance Product Disclosure Statement and Policy Document (PDF 145kB) (available online or by calling 13 16 14) before deciding whether to acquire, or to continue to hold, this product. This PDS relates to policies issued from 1 June 2019. Previous products (with the same name) may have different features and benefits. If you hold insurance based on an earlier PDS, please contact us if you have any questions or to have a PDS sent to you.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. 

The ANZ App is provided by ANZ. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. ANZ recommends that you read the ANZ App Terms and Conditions available at and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.