Best marriage advise I ever got was from my female banker was to have separate bank accounts and credit cards. Plan on who pays what shared bills or set-up accounts to auto pay your portion. Except in extreme cases do not bail each other out.
If you want something done right....
I know several married couples who have such an arrangement. Separate accounts, and agreed upon arrangements as to who pays what: he may pay mortgage; she may pay for groceries; he pays for his car, she pays for hers.
That said, I just don't understand why they would choose to manage this separately. Why isn't it "our" money in a marriage, instead of his and hers? Does anyone else use such an arrangement, or know enough to elaborate?
lol...that is silly...it's like when I see married hipsters buying groceries together but separately
and if you have kids and yer wife is a stay at home mom...as she should be...then she will get hungry and wear rags with yer idea of separate bank accounts etc
hell I shared money even with my live ins way before marriage...I didn't care...long as they were "good" to me...i wanted a woman and that ain't free lest you're really hot and I'm anything but...I grew up where the man took care of the woman and I like it
is this the new world of how men are when they marry?
Yuck! I’d never want separate accounts. My husband makes the money and and I run the house and raise the children. We decide on the budget together and each of us gets the cash we need for the month. If something comes up and we don’t have the cash on hand to cover something, then we meet to discuss how to cover the unexpected expense.
We do have more than one account. We have a super savings account that does not get touched. EVER! It is our strictly emergency savings. We have a regular savings account for smaller things like a new car or repairs, mini vacation, etc. We live well below our means and are able to put money into savings every month. My husband has a credit card for work travel expenses but we do not carry a balance.
Being debt free has been the most freeing thing to happen in our marriage. It only took us 18 years!! Okay, it took us 12 years to pile up debt and 6 years to get rid of it. Worth every horrifying, gazelle intense moment! :0)