It is said that one of the top reasons couples end up in divorce is down to money problems! This reveals the role money plays in marriages. Money problems and sex issues are predominantly the number one cause of divorce in marriages.
Most of the time, it’s due to a lack of agreement at the beginning of the relationship about how money will be handled between both parties.
There are instances where both parties may think having a joint account isn’t the best idea for them and choose to have separate bank accounts instead.
Whilst this maybe true, there are several benefits to having a joint account and we recommend it if possible.
One of the benefits is that you both have access to a central account to manage your finances. You both know what goes in and out of it.
You can manage your finances together and not separately. Budgeting can help to transform your finances even the more. Track all of your spendings as well as plan towards different goals.
In this episode, Should Couples Combine Finances in Marriage, you will discover the benefits of having a joint account and instances where a separate account might be the best for both couple.