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Hannah and Max have maintained an equal approach to managing their finances, even when one partner earned significantly more. Max, 31, explains, “We’ve always wanted to do things 50/50. We made a commitment to each other that what’s mine is yours, and vice versa.” After dating for two years, the pair married, with Max earning £70,000 annually in the tech industry, while Hannah worked in the charity sector with a notably lower income.
Their financial routine involves pooling their salaries into a joint account, from which they cover household expenses such as mortgage payments, bills, groceries, and fuel. Both take out the same amount each month for personal use, allowing them to make individual purchases—like clothing or going out—without feeling scrutinized. Max notes this arrangement ensures they “aren’t accountable to each other for those things.” Additionally, they manage their money by allocating funds into various categories, including savings and smaller, predictable expenses such as haircuts.
When Max faced redundancy last year, their method of sharing finances did not change, despite relying on Hannah’s salary ranging between £40,000 and £60,000. Hannah recalls the initial reaction: “There was shock and panic initially,” she says, though they quickly reviewed their budget and identified areas to reduce spending. They canceled memberships like gym and Sky TV and re-evaluated their finances to ensure essential costs like the mortgage and bills could still be met with a lower income.
Max, who attended culinary school instead of pursuing traditional academic routes, had left the hospitality sector due to concerns about low pay. After redundancy, he decided to pursue a business venture aligned with his passion, a choice Hannah initially questioned. “At first I told him to set this up alongside getting another job but we quickly realised the business would take a lot of time and energy,” she explains. Together, they analyzed their situation and agreed that without children or dependents, it was the appropriate time to take the risk. Max invested £20,000 from his redundancy funds to buy and convert a horsebox trailer into a pizza truck serving weddings, parties, and pop-ups. He set a financial limit for the business and is prepared to seek employment again if it does not succeed. The venture now generates between £4,000 and £6,000 in monthly revenue, and Max pays himself a salary sufficient to cover their mortgage
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