Couple Finances
With the coming of the New Year also comes many New Year’s resolutions. With the state of many economies around the world, it’s no wonder that a lot of those resolutions have to do with money.
Whether it’s saving up for your wedding, your first house, or putting money away in that baby account, money is a very important thing for couples.
And not always the easiest thing to share.
There are plenty of things that can influence your financial relationship: Whether one of you or both of you work, who makes more, your financial goals, etc.
Today I’m going to focus on the beginning of the financial relationship.
When you’re moving in together, what do you do? Do you open a shared account and that’s it? Do you keep separate accounts only?
I believe the best balance is a shared account out of which bills are paid along with at least one account for each partner is the best way to go, but that’s just my opinion.
Essentially, you have to figure out what is comfortable for you and not be afraid to say what you want/need.
My husband and I have a shared account and our own individual accounts. What I earn from working from home goes to paying my student loans and medical bills because it’s important to me as a person to pay my own bills. My husband understands that.
He takes care of food, electricity, rent, etc. Basically, living expenses. Yes, it’s a big difference in income and bill payments, but it’s what works for us and our personalities.
Above all, discuss this before you get married. Be wary of anyone who insists on you giving up all your individual accounts.
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