How Couples Should Split Their Finances

Having separate bank accounts can help partners maintain their autonomy, according to financial expert Suze Orman. Watch this video to see how you can fairly divide household expenses.

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online

#CNBC
#CNBCMakeIt

How Couples Should Split Their Finances

[PaigeMalecki]

How should couples split their finances? However they want!

[SonnyLV]

I've been telling my girl this for over a year now, nothing wrong with keeping the accounts separate without it having to mean you don't trust your significant other. One account together and the others separate. Easy!

[kaijaful]

Thank you, Suze. 50/50 isn't really 50/50. People need to understand that. So many relationships go south due to this realization, and it's usually of the person who makes less but still has to foot half the bill.

[prhasn]

Even simpler, do it the Islamic way. Each person has their independent accounts and the husband pays for everything.

[stephen-finance]

Got to get on the same page about finances with your partner. Relationship suicide not to.

[LisetteZ]

There isn’t 1 way that will work for everyone. We have our finances completely combined and work from 1 joint account. We both came into this relationship with nothing so what we have, we made together. I don’t want to go out to dinner and having to decide who will pay for it. It’s our money, we pay for it together.

We make a budget every month together, we both have an equal say in how we will spend, save and invest it.

We both have fun money to spend as we please and the other doesn’t get a say in that.

This works for us. You do what works for you

[markluni]

The power of compounding money and even habits are much more powerful than people think. All of your small wins becomes big wins over time, keep your foot on the gas pedal and keep investing.

[SrirachaPlz]

Me and my husband have 1 joint account that all our joint expenses come out of, bills, mortgage, groceries, nights out. We equally contribute to it every few weeks. Otherwise, finances separate. We don't have to question each other on how our own money is spent whatsoever. It works perfectly for us.

That said - we both have the same money philosophy, no debt, no frivolous spending, make sure you save $X each month... if one partner has out of control spending habits then this may not work.

[silviagreenwood]

If there is one thing the pandemic has taught me, it's that one should have a stable investment plan because no one knows when another one might come

[tylerw]

It has been said that you can tell where someone's heart is by looking at their bank statements. To desire to have separate finances is just a symptom of the desire to not align your hearts and minds as a couple.

To each their own, but in my opinion a truly healthy marriage is a singular, progressive force. A team, with a common goal and common resources. When money is combined, goals align. Tough conversations are forced to happen about family priorities. No one is left saying, "I thought it was your turn to buy the groceries" or "you still owe me for dinner last night".

[jonathanedward]

Cringe, this is bad advice. We are married and have a joint account. My money is her money and vice versa. We plan the future together, how we sped our money and have full transparency, which also helps our communication and ultimately our relationship.
If you are not able to trust your partner with finances, it shouldn't be your partner in the first place or you have a lot more to talk over first.

[grer]

You're doing more work for the same outcome as a joint account. I know some married couples that still venmo each other their portions of the bill 🤦‍♂️

[k.d.k]

Lol I would like to see Dave Ramsey’s reaction to this😊☺️

[DemetriPanici]

*“Make things as simple as possible but no simpler.” - Albert Einstein*

[DemetriPanici]

*“It is preoccupation with possession, more than anything else, that prevents men from living freely and nobly.” - Bertrand Russell*

[Quettasbedhead]

How do you become 1 then, I was of the same mindset and my marriage counselor said that , how are we becoming 1 and I can't even have a joint account

[gregzz]

If equal percentages worked, why don't the same work for taxation?

[tinas]

I know this is a hot button issue! I personally feel that a JOINT ACCOUNT is the best way to go! A healthy and strong couple should feel like a team and both working towards the same goal: One account for both income where everything is seen and accounted for. My husband and I have been together for 10+ years and we now have a little one and we’ve always been better and stronger because we openly talk about money and we put all our income in one pot.

[batmunkhn]

yup thinking about percentage is very helpful

[JohnCarlosMartinez]

Separate bank accounts = separate lives