Should Couples Have Separate Accounts?

Friday, July 30, 2010

Should Couples Have Separate Accounts?

I was reading an article regarding a married couples separate finances and thought I'd give my two cents about that subject. The article stated, "Neither knows what the other is doing" and it seemed like a case of "the left hand doesn't know what the right hand is doing" to me. Warren McIntyre, a financial planner form Troy Michigan said, "For starters, the couple aren't even sure how much they're saving annually." So from my own experience and based on this case scenario, I think you should not have separate accounts for your finances.

Why? Because you are a team. You should be working together to build wealth. Spouses should keep finances in one account and pay and spend everything together. If you are not one with your spouse, why are you even married?

Speaking from experience, when you separate your finances, you are setting yourself up for divorce. You intended to be together when you got married didn't you? Of course you did. Hopefully, that's why you got married in the first place. When you are married you should be together in every way, whether it be with money, your assets, and finances too.

My first wife and I had separate accounts and it was a disaster. My current wife and I began our marriage with separate accounts and I feel it is partially part of the reason we are in financial jeopardy now. Since we united all of our finances miracles began to happen and our finances are making a come back. A couple that balances the checkbook together, stays together.

[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]

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