Here’s what you need to know today

• Qatar Airways is buying a 25% stake in Virgin Australia. As part of the deal, Virgin will launch flights from Sydney, Melbourne, Brisbane and Perth to a hub in Doha where passengers could then take connecting Qatar Airways flights to the rest of the world. This move is seen by many as an effort to make Virgin a more formidable competitor to Qantas. 
  
  

• Australians in Lebanon are being urged to get out of the country after Israel has invaded southern Lebanon. While Israel claims to be targeting Hezbollah, the conflict continues to escalate across the region as Israel also launched airstrikes on the Syrian capital of Damascus.
  
  

• REA Group has officially ended its pursuit of the UK property listing website Rightmove. REA Group put 4 takeover bids to the British company, all of which were rejected.
  
  

• In the US, dockworkers were not able to reach a pay deal with an alliance of their employers and are now on strike. The union leading the strike, the International Longshoremen’s Association, believes 45,000 American dockworkers across 36 East Coast and Gulf Coast ports will stop working. This strike is expected to disrupt nearly half of US trade as containers get backed up at ports and container ships sit idle at sea.
  
  

• OpenAI has another major investor for their latest funding round valuing them at $150 billion. SoftBank has committed $500 million, getting OpenAI closer to its $6.5 billion target.

What the…?

The astronauts stranded on the International Space Station are one step closer to coming home. Astronauts Butch Wilmore and Sunita Williams expected to be in space for just one week, but have been in orbit for over 3 months after the Boeing Starliner sprung a hydrogen leak and had to be returned to Earth.

A SpaceX shuttle has arrived at the International Space Station to take them home. But their journey isn’t over yet. The SpaceX shuttle is scheduled to leave in February next year, by which time the astronauts will have been in space for 8 months.

Investing is a lifelong journey

Here’s what you can learn today.

Question from the Equity Mates Community: What’s your philosophy when it comes to couples and setting up their finances? Everything shared/ joint accounts? Some money on the side?

We put this question to Glen Hare, financial adviser and cofounder Fox & Hare

When it comes to couples and their finances, I generally advocate for joint goals and shared finances, especially as the relationship progresses and shared goals become larger and more involved e.g. buying a home, starting a family, etc.

What I usually see at Fox & Hare Financial Advice is that one partner is a lot more engaged with the numbers and places a larger emphasis on personal finance. They’re sometimes surprised when I push for the less engaged partner to start paying more attention but it's essential that both are aligned on financial goals and strategies. If one person takes on all the financial planning while the other remains disengaged or overspends, it can create significant problems down the line.

Sharing finances also offers practical advantages. For instance, structuring investments in the lower-income earner's name can potentially reduce the overall tax burden for the couple.

Of course, every relationship is different, and some couples prefer to maintain separate finances, which is perfectly understandable. The key, regardless of the approach, is open and honest communication about money, goals and what the future looks like. I don’t think we are talking about the fact that choosing a partner is a major financial decision enough. It’s true, even though we rarely think of it that way.

When we share our lives with others our shared expenses, joint goals, and even debt become intertwined. If we select a partner with mismatched financial values and habits that can breed conflict while, in my experience, a shared approach to finance can strengthen the relationship's foundation.

Combining finances offers several benefits, including:

• Transparency: Joint accounts provide a clear picture of income and expenses, promoting trust and understanding.

• Simplified Budgeting: Managing finances from a shared pool streamlines budgeting and bill payments.

• Shared Goals: Pooling resources makes it easier to save for common objectives like a house or extended holiday..

• Tax Advantages: As mentioned earlier, there can be tax benefits to structuring investments strategically.

For me, the ideal approach to managing finances in a relationship depends on the couple's unique situation and preferences. However, the cornerstones of financial success in any partnership remain the same: open communication, shared goals, and a willingness to work together.

Want to speak to Glen or another of our hand-picked financial advisers? Fill out the form on our website and we’ll put you in touch.

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