Should Married Couples Have Joint or Separated Finances?

Money is a complicated issue for many people, and never more so than for newly married couples or partners. Anybody in a long-term relationship will tell you how difficult it is to share an equitable understanding of all financial matters.

There are several factors when considering a couple’s finance management. Where do they live? Who’s name is on the property deeds? How old are both members of the relationship?

Insights for Couples finances

Why Wouldn’t You? For older couples, joint finances are not even a question. One commenter explains how he married his wife 26 years prior and combined both bank accounts. Others agree that both accounts should always stay joined if marriage happens.

Okay, Boomer A sizeable cross-section of this online community says they see bank account unions as an antiquated means of controlling the other partner. In a frank admission, one woman explains how when this is evident, she does an “‘okay, boomer’s eye-roll.”

Separate Accounts Are Easier There is a difference between a joint holding account and an account used for combined savings, which is one example of how things can work. Younger couples understand digital banking better than others, saying this takes five minutes a month to organize.

Piece of Mind Some women prefer financial independence because they crave security if things go south. By keeping a joint account solely for expenses like mortgages, phone bills, and utilities, some couples are free to spend what they like.

Credit Scores Matter Deeper into the discussion, the divorce-shaped elephant in the room emerged. A common issue was how one member might destroy their credit score. Other people agree they must protect their financial future if they get divorced.

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