Don’t Rush To Combine Finances In A Relationship 

Don’t Rush To Combine Finances In A Relationship 

There are plenty of valid reasons to combine finances. It can make budgeting easier. It can be part of the commitment that comes with a serious relationship. But joining finances too soon can be problematic too.

Picture: Ashley MacKinnon MacKinnon/Flickr

GOBankingRates points out:

Obviously a joint account is problematic when a breakup happens, but it can also cause relationship woes while you are together. A joint account might lead to frequent arguments if one person spends more than they should or unwisely spends money.

This isn’t to say you should never combine finances or that combining finances is a bad idea overall. The point is that it’s not a decision to be made lightly. Before jumping into it, make sure you know your partner’s spending habits. Ask them about their debt and credit history. Come up with a thorough plan for budgeting, saving and paying off any debts.

Some argue that couples who don’t combine finances are doomed. Don’t let this pressure you into sharing your financial life with someone before you’re ready. If you’re not yet on the same financial page, it could make things worse.

For more relationship money mistakes, check out the full post at the link below.

7 Worst Money Mistakes People Make in the Name of Love [GOBankingRates]


  • My wife and I moved in together three years ago. We are both very responsible with finances. We have a joint savings account that we both contribute to, but keep separate accounts as well for things we ant to buy for ourselves. For example, she buys lots of clothes. But I tend to buy games/electronics. It may sound odd for a married couple (we’ve actually only been married a few months), but it really works well for us. And we save a lot in the joint account. Have never had an argument about money.

  • I’ve been married for nearly 15 years and we still don’t have a joint bank account……it’s just too much commitment.

  • My wife (then girlfriend) and I joined bank accounts after about a year. It allowed us to be more agile with our finances, leading to buying a car, paying down each others debts and buying a house.

    This isn’t for everyone, but it worked well for us.

    But some general advice based on observations of many couples I’ve seen in my life – DON’t HIDE YOUR FINANCES! Even if you have separate accounts for pays, don’t ‘not talk’ about each others finances. And certainly don’t rely on one account holder for paying off the house and household expenses. Seen too many fights and mortgage defaults because of this.

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