Disagreements about money can create tension in relationships, but they don't have to. Our book Financial Essentials for Couples dives into different ways to manage bills and expenses, from joint accounts to keeping personal money separate. Whether you're splitting bills equally or based on income, creating a financial system that works for both partners is key. Learn how to navigate money discussions and set up a budgeting plan that strengthens your relationship. Available on Amazo
There are varying approaches to sharing bills and setting up your accounts to make it easy to track where you are. One way is to open a joint account that pays bills, with each of you contributing to the joint account. The amount you put in a joint account could be equal or prorated to your respective salaries. Another way of organizing your finances is to open a joint account and have all earnings go into the joint account. If all salaries flow into a joint account, we highly recommend that you each retain a personal account that will hold money that is your personal money to spend in any way you choose. The joint account would transfer a certain amount monthly that becomes your personal discretionary money. A third possibility is that you each retain your personal accounts and just allocate who will pay which bills, doing a reconciliation of the budget by the end of each month.
Read more about the approaches to sharing expenses and creating a household budget in our book Financial Essentials for Couples available on Amazon.
Check out our books on financial independence at
Raising Financially Children
Financially Independent Teen
Financial Essentials for Couples
Financial Essentials for Women by Women
Financial Essentials
Budgeting for Women by Women
These books highlight important topics like those below:
·Different budgeting methods
·Creating joint goals · Savings for major expenses
·Improving your credit scores
·How couples with different money views can reconcile their differences
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