Christopher Liew is a CFP®, CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers at Blueprint Financial.
Dual-income couples are now the norm, but incomes are rarely split 50/50. Whether due to career choices, child-care duties, or differences in gender, education and age, income gaps between partners are common.
Despite this, unequal income between partners can create financial tension if the issue isn’t handled thoughtfully. One partner may feel burdened, while the other feels guilty or less independent. To maintain harmony, couples should address both the emotional and financial aspects of their finances.
Unequal incomes are common in Canada
A 2024 Statistics Canada study found that women aged 25 to 64 working full-time earned about 70 cents for every dollar earned by men.
These differences are often influenced by age, education, parental leave, or one partner taking a less demanding role for work-life balance.
Different approaches to splitting finances
No matter how much love you and your partner may share, the way you both handle your shared finances can often make or break your relationship. Recently, Alberta-based non-profit Money Mentors released its 2025 Love and Money survey, which revealed some interesting points:
- 47 per cent of participants admitted to arguing over money with their partner; and
- 10 per cent admitted that they have considered splitting ways due to financial stress.
Overall, the study revealed that financial stress and arguments between couples contributed to higher rates of anxiety and depression, lost sleep, loss of patience, and reduced productivity and motivation at work - none of which are conducive to a healthy long-term relationship.
To this point, the Financial Consumer Agency of Canada even has an official page offering guidance and money management strategies for couples. Below, I’ll explore several common ways to divide expenses.
1. The “everything combined” approach
This method involves pooling all of the household income into a single joint account, where both partners share full access. From this shared account, couples will pay bills, save, invest and spend together, viewing the money as “ours” rather than “mine” and “yours.”
This approach is common among couples who view their finances as fully united, especially in long-term or married relationships. It simplifies day-to-day management by consolidating all cash flow into one place, and keeps both partners accountable to each other.
However, if spending habits, personal debts, or financial priorities differ between couples, sharing a single joint account can lead to tension. For this method to work, both parties need to be able to trust each other, share financial values, and communicate.
2. The “proportional contribution” approach
Rather than splitting everything down the middle, the proportional contribution method involves each partner contributing a set percentage of their income toward shared expenses. This way, both partners contribute fairly relative to what they earn, rather than equally in dollar terms.
For example, if one partner earns two-thirds of the household income and the other earns one-third, they would split rent, bills and groceries using the same ratio. This approach can alleviate the burden that the lower-income partner may feel with fixed costs.
For many couples, proportional contribution strikes a healthy balance between fairness and independence.
3. The 50/50 approach
In this approach, each partner contributes an equal dollar amount toward shared expenses like rent, utilities, groceries and subscriptions, regardless of their income percentage. Many couples who prefer financial independence favour this model, especially early in a relationship or when both partners earn similar incomes.
The 50/50 model is simple to manage, as each party carries their fair share of responsibilities. It also allows each person to retain full control over their personal finances, savings and spending beyond shared costs.
However, it may become unsustainable if one partner earns significantly less or finds themselves between jobs, or if new responsibilities such as a pregnancy, parental leave or caregiving to aging parents come into the picture.
In this case, the lower-income earner might struggle to keep up with bills or have less disposable income left over, potentially creating stress or imbalance in lifestyle.
How to start the conversation with your partner
I believe that it’s important for new couples to discuss their finances and expectations of each other early in their relationship. Unvoiced opinions and expectations (whether financial or otherwise) are often the things that erode trust, love and harmony the most.
If you have a long-term vision with your partner, it’s important that you’re both on the same page and willing to grow together. Part of this involves being able to have open, candid and respectful conversations about your financial life.
Rather than arguing about your finances or approaching financial conversations with judgment or anger, or waiting until you hit a boiling point, you should set aside time to discuss finances.
Many of my married friends and clients have a scheduled “meeting” every month or so where they sit down over dinner, at a cafe, or just at home and discuss their finances, goals and family budget, and talk about ideas and adjustments that can be made to keep them on track.
For this to work, both partners should keep an open mind and be willing to listen to and understand each other. If you find it difficult to have money conversations or feel like you’re stuck in a rut, working with a financial advisor can be a great way to start.
A good financial advisor can help you analyze your goals, provide unbiased feedback, and create a strategy that works best for both of you.
Final thoughts
Many couples find that having a flexible approach that combines certain aspects of the methods above works best. For example, new couples may start off with separate 50/50 finances and gradually move toward combining finances or saving for shared goals together as more trust is built in the relationship.
When it comes to sharing finances with your partner, keep in mind that no one method is “right.” What matters is finding a fair approach that fits your lifestyle, values and goals as a couple.
