Every relationship usually has a “spender” and a “saver.” While the old adage says that “opposites attract,” different personalities can make budgeting harder than it needs to be.
Honeyfi can blend each of your unique money habits into one simple app in a way that both of you agree on, even if your partner would rather eat brussel sprouts than stick to a spending plan.
Continue reading “Honeyfi Review (2020): Budgeting App For Couples”
When we get married, we have an important decision to make. Do you merge your money or keep it separate? Well, what if there was an option in the middle?
I’ve invited the Founder and CEO of Zeta, Aditi Shekar to discuss different ways to manage your money as a couple. We’ll also learn about how their new financial tool is supporting couples with this big decision.
Continue reading “The Benefits of Keeping Separate Accounts in Marriage – with Aditi Shekar”
For the last 8 years, my wife Nicole and I have merged our finances. Our joint checking account has been the holding place for all of my paychecks and all of hers. It’s also been the account where all of our spending has come from.
Overall, that system has worked pretty well over the duration of our short marriage. We’ve rid ourselves of almost $50,000 of debt, we paid off our mortgage and we’ve grown our net worth by $800,000. Our lives are comfortable. We have two kids that are happy and healthy. Life is good.
Every once in a while though, Nicole and I have disagreements about money. What couple doesn’t, right?
There are times when we don’t see eye to eye on spending or saving for the future. I’m always looking for ways to increase our wealth, security and create more time freedom. She likes those things too but is often more interested in enjoying today and not depriving ourselves.
Honestly, I see our “saver vs. spender differences” as a positive. She helps me live a little and I help her plan for the future.
It’s got me thinking lately about what other ways, we could arrange our money situation. I don’t want to stick with the same arrangement if we keep coming back to the same disagreements. Wouldn’t that be some marital lunacy?
I reached out to some friends in the personal finance community to get their thoughts and opinions. This community has helped me win with my money in the past … why not my marriage?!
Continue reading “3 Smart Alternatives to Merging Money in Marriage”
It’s the first Monday of the month my friends! That means we’re taking another question from the Marriage, Kids and Money Community.
Today’s question comes in from Kat …
My name is Kat. I recently got married, actually 12 days ago. It is both our first marriage and also our first time living and sharing the living expenses with a spouse. We decided to not merge everything together, but to have our separate accounts that we had before we got married and also open up a joint checking. On top of getting married, we also got a condo together.
We went through the Financial Peace University through our church 3 years ago. We both don’t have any credit card debt or any other loans besides the mortgage. My question is or rather, me seeking advice is, what’s a good percentage for us to contribute to our joint checking account? We don’t make the same amount, therefore, I felt like putting a percentage rather than an amount would be ideal. I’m just having trouble figuring out what other couples do who are in our same situation.
Thank you and I look forward to listening to your show.
Continue reading “How Do We Split Expenses as a Married Couple?”
Who hates student loan debt, but loves sex?
Yeah, me too!
Before my interview with Shannon McNay and Erin Wiley, I didn’t realize how these two topics were so intertwined.
Continue reading “How Your Sex Life and Student Loans Are Connected”