Love & Taxes: We Have Totally Different Spending Habits. Here’s How We Handle Taxes.

Key takeaways

• Different spending styles don’t have to mean financial friction
• Shared goals make smarter tax decisions
• The right tools help you move forward together

My husband and I have totally different approaches to money: I’ve been saving  since I was in diapers, while his habits are on the spendy side. Nothing too extravagant — he loves the latest gadgets and prioritizes luxurious experiences and travel, while I’m a thrifter and prefer budget travel and prioritize savings.

Overall, we’re both responsible and, for the most part, live within our means. But I really need a robust savings plan to feel safe and secure. We’re filing together for the first time this year, and want to find a way to make our money styles work together at tax time. 

When we sat down to file together, our differences showed up quickly. I was focused on maximizing savings, while he was already thinking about how we might use our refund for something fun. Walking through the numbers together helped us compromise — allocating part to our future and part to enjoying the present.

Different spending habits can be a source of friction, but they can also bring you together.

Conversations about money can feel intimidating — and tax time often brings those issues to the surface. But each of your money habits brings something valuable to the relationship.

Your focus on security and saving helps lay the foundation for a bright financial future together, while his tendencies to indulge can be just the nudge you need to enjoy your hard-earned money. 

When it comes to tax time, the following tips can help the season go smoothly:

Start with your shared vision for the future

Ultimately, you and your husband share a common goal — maximizing your refund and using those funds to fuel the year ahead. So start tax season on a positive note, sharing your goals for the next year and what your ideal future looks like. 

Maybe you’re excited about maxing out your 401(k) contributions while he’s dreaming of a trip to Japan. By figuring out what matters most to both of you, you can start reverse-engineering a plan to make it happen. 

Take every opportunity to maximize your refund.

While you’re sifting through your tax documents, look for every opportunity to claim eligible deductions and credits that can boost the value of your refund. Make sure you’re claiming home office deductions if one or both of you work from home, and the Child and Dependent Care Credit if it applies to your family. Understanding these overlooked tax credits can help you make sure you’re getting the refund you deserve.

Make a plan for your refund.

Splurge or save? It doesn’t have to be one or the other.  Work together to figure out how much of your refund you’d like to stow away for the future, and how much is “free money” to spend as you wish. You might turn your tax refund into a bonding opportunity by splurging on a shared experience, setting some aside for discretionary spending, and using the rest to top up your savings. There’s no wrong answer: It’s all about what works for you.

File together with confidence

When you and your partner approach money differently, having the right tools can make all the difference. Instead of debating deductions or second-guessing your numbers and making confident financial decisions together.

• Start honest conversations and turn tax time into a shared financial reset.
• Navigate complex tax situations with clarity and make the most of your refund.
• Feel confident you’ve claimed every credit and every deduction you’re eligible for — so your money supports the goals you’ve set together. 

TurboTax stores and Expert offices can help you navigate tax season with clarity and confidence. With the right support, filing together can strengthen your partnership and set the tone for the year ahead. TurboTax Deluxe makes combining your finances simple — so you can move forward together with confidence.