Elsa Lim, finance coach and founder of www.moneyfitcoach.com, suggests discussing who should be the primary and secondary contributors, and how often the account should be topped up.

“Women must learn to talk about money and tell their partners what they expect out of the arrangement—without arguing and feeling embarrassed, pressured or intimidated,” she says.

Elsa warns that the both of you might not always see eye to eye when it comes to expenses, so it’s important for the both of you to establish the types of expenses that the joint account covers.

“You also have to be clear about what spending habits you will not tolerate, such as gambling or other unhealthy addictions,” she says. For hobby expenses, Elsa recommends setting up separate personal accounts.

Everyone has their strengths, and Elsa advises playing them to your advantage.

“Perhaps you’re good at budgeting while your boyfriend is good at investing. Or perhaps he’s a spender while you’re a saver. You may decide that all investment matters come under his care while the household budget comes under yours,” she says.

She adds that ground rules and acceptable spending should be established, particularly if one partner is a bigger spender than the other.

Elsa suggests making regular appointments with your partner to discuss financial matters.

“These are ‘date’ nights where you and your partner discuss and track all matters pertaining to money management, family expenses and spending plans. Agree to create a safe space to talk about all matters of financial concern and review,” says Elsa.