Combining Your Finances After Marriage: Is It a Good Idea?

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Combining Your Finances After Marriage: Is It a Good Idea?

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Can y'all make a video on how to actually combine finances and the best practices covering insurances, retirement accounts, etc as a newlywed couple? There are many videos on whether a couple should or should not, but diving into the specifics on "how to" would be a huge help. Ty!

caitlinthomas

I think it's best to combine incomes and create your budget making sure all expenses, savings, and investments are accounted for. What ever is left over is "fun money" that's evenly split between both spouses.

marcusbelizaire

We have a joint account where all income is pooled and all family/household expenses are paid from. Any thing paid from this account has to be in the budget or agreed on. Each month we each get the same amount of cash transfered to our individual checking accounts for personal spending. We can save this money and buy whatever we want. This system works well since the bills are always paid and I don't get dirty looks when I come home with a new toy.

sd

My wife and I have been married 3.5 years now and we combined finances on day one. We both look at it as each getting a big pay increase.
We think it was the best decision ever as it allowed us to pay off student loans and save for a house.

agisler

Keep up the great content, just sub'd.

We combined our finances and created a monthly allowance so we each have equal fun money.

skutah

For my wife and I, combining finances would lead to nothing but CONSTANT fighting! We have such fundamentally different views on finances that combining paychecks would never work for us.

At the start of every month, my wife writes me a check for her share of our basic living expenses. Any money she has leftover is hers to spend as she chooses. I put her check in my bank account and take the reins from there. Works like a charm for us and now I don’t need to stand over my wife with my foot on her neck over the way she handles money!

ddellwo