The Case for Separate Finances

Studies reveal that couples fight about money more than everything else. Avoiding the hassle of it all can be as easy as keeping your money away from each other. Trust us, it's possible.

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It’s a sad fact that money is one of the greatest sources of tension between couples. As consumers, we tend to equate greenbacks with our success, status and, frequently, self-worth. Therefore, a lot is at stake when you decide to merge your finances with the one you love. Everyone has different ideas regarding where to spend and where to splurge, and that’s when couples run into trouble.

Some opt to duke it out, while others prefer to keep separate bank accounts to avoid some of the hassle. While no solution is foolproof, take into consideration the following factors when determining a plan that is right for you.

Family Ties

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Initiated by generational, cultural and religious ideals, the way you spend and save your money is most likely the same way your parents and your grandparents did. Some say that having separate finances undermines the intention of marriage to merge your finances – and everything else, for that matter.

However, 50 years ago, enormous debt and child support payments weren’t common. With dual-income households and student loans in most household equations, how you split your money is becoming less about advice from Grandpa and more about individuality and autonomy. No one, including your parents, your church or your financial guru, should be telling you the “right” way to handle your finances.

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44 comments on “The Case for Separate Finances


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boyd316 wrote:
Here's a scenario I was wondering you guys weigh in on. I've been dating for close to 2 years now. We both live with our parents and I would like to buy a house soon. At this point my significant other would like to join finances. She wants the house to be ours although I would be making most of the payments and have saved a significant amount of money for a down payment. I would like to buy the house and have seperate finances in case we should seperate. While we remain together the house would be hers as well. This has caused many arguments and could be the thing that ends the relationship. I tend to be the saver while she seems to have an unrealistic view on finances. I often get heat for not wanting to go on vacations however I'd like to see her put that money onto her debt. Please help!
Get an agreement before you move in together. You could end up loosing half of your savings if you split. Where I live, if you live together for six months you are considered common law. After that, the "home" is split 50/50 unless there is an agreement. Her debts may be considered yours as well. Money is the cause of many,probably most breakups. It just ended my x's marriage of 8 months. He just pulled the wool over her eyes. I hate to say this, but maybe ending the relationship might be the right thing in the long run. It is very hard if one of the partners is expected to save and be the responsible one, while the other just spends.
- September 13, 2008 10:08 AM

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boyd316 wrote:
Here's a scenario I was wondering you guys weigh in on. I've been dating for close to 2 years now. We both live with our parents and I would like to buy a house soon. At this point my significant other would like to join finances. She wants the house to be ours although I would be making most of the payments and have saved a significant amount of money for a down payment. I would like to buy the house and have seperate finances in case we should seperate. While we remain together the house would be hers as well. This has caused many arguments and could be the thing that ends the relationship. I tend to be the saver while she seems to have an unrealistic view on finances. I often get heat for not wanting to go on vacations however I'd like to see her put that money onto her debt. Please help!
Sounds like there's a subtext to the situation going on that says she's bucking for more committment than you're willing to make. Also, you might want to think about living on your own for a while, rather than each of you going from living with mom & dad directlyto living with a partner. Feels a little bit odd.
- September 13, 2008 07:35 AM

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Here's a scenario I was wondering you guys weigh in on. I've been dating for close to 2 years now. We both live with our parents and I would like to buy a house soon. At this point my significant other would like to join finances. She wants the house to be ours although I would be making most of the payments and have saved a significant amount of money for a down payment. I would like to buy the house and have seperate finances in case we should seperate. While we remain together the house would be hers as well. This has caused many arguments and could be the thing that ends the relationship. I tend to be the saver while she seems to have an unrealistic view on finances. I often get heat for not wanting to go on vacations however I'd like to see her put that money onto her debt. Please help!
- September 13, 2008 04:13 AM

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