Ray Dalio says choosing the right partner is life’s most important decision — make sure you align on these 3 money musts

Core Insights - The importance of aligning financial mindsets in relationships is emphasized, as it can significantly reduce conflicts related to money management [1][2] - Ray Dalio highlights that meaningful relationships, particularly with a life partner, are crucial for overall well-being and practical life decisions [1] Financial Budgets - Nearly 25% of couples identify money as their biggest relationship challenge, with 20% of primary decision-makers feeling resentment towards handling finances alone [2] - Establishing a shared budget is essential, which involves reviewing combined income and listing all shared and individual expenses to determine how to split costs [2] Budgeting Strategies - Various budgeting strategies exist, such as the 50/30/20 rule, which allocates 50% for household expenses, 30% for wants, and 20% for savings and debt [3] - Budgets should include spending limits, especially for partners who may have a tendency to overspend, and should also address debt repayment and future savings goals [3] Funding the Budget - Couples need to decide on their approach to funding their budget, whether through a single joint account or a combination of separate and joint accounts for personal and shared expenses [4] - The distinction between having separate accounts and secret accounts is crucial for maintaining financial fidelity in a relationship [4]