Financial Planning

How to create a financially equal relationship

Very few couples earn roughly equal salaries. Among a myriad of issues, most women tend to earn less than men due to the gender pay gap, and they may take time off work to raise children. This can create a power imbalance.

We find out what a financially equal relationship looks like, and how you can achieve it.

50/50

What is financial equality?

We may think that a financially equal relationship is one in which expenses are split 50/50, but this is not necessarily the case, says Farzana Botha, Segment Manager at Sanlam Savings.

“Equality is about being able to contribute as much as you can to the wellness and financial stability of a relationship,” she points out. What this looks like may vary from couple to couple.

Importantly, says Botha, equality is about how much each person knows about the other’s financial position, and what information they choose to share. For example, you should be upfront about any debts or family responsibilities you have, as these may affect your joint goals and finances.