When you get married, it’s all peachy until the reality of married life starts settling in. Hopefully you are still feeling affectionate with one another, but you are also taking into account what you will be changing in your life as you start your new journey together.
In married life, One important factor to consider is whether you want to maintain separate finances or you’d like to begin to sharing what you make in joint financial accounts.
Some couples opt for having separate accounts while others immediately make a joint banking account together. Many things can be considered when you take these steps. Here are a few you can take into consideration if you are in this step in your marriage:
What do you feel comfortable with in your married life?
Do both of you enjoy having your separate accounts, or would you rather share everything, including the bills, by having a joint banking account? Discussing this early on will enable you to make the decisions down the road.
What are some of the reasons you can think of for keeping finances separate?
What are some reasons you want to join accounts?
How does your partner or spouse feel about joining your money in one account now that you have begun your married life together? Are they okay with this decision?
Are you responsible with finances? What does your track record look like? Can you handle the money for both for you as a couple? Or is your partner a better numbers person?
Each of these questions can get you started in deciding whether you want to take the leap and join financial forces or keep everything separate now and down the line.
What did you do? How has it worked for you so far in your marriage?