As a working couple, we manage finance in a following way:
1. We have our separate bank accounts 2. We have decided a ratio to contribute towards monthly expenses 3. We have made our joint financial plan for world tour, retirement etc. 4. We have a joint bank account to keep emergency funds 5. We try to take assets or loan as joint holder. (For tax benefits) 6. We Review our finances every quarter.
We are completely opposite in terms of savings. I love to save and he loves to spend. Sometimes me even argue on this topic. But that’s ok. What’s not ok is to not talk about money.
While talking about finances might not seem exactly romantic, having a stable financial base is definitely one factor that can help your relationship go the distance. A couple that manages their finances together grows together. Therefore, to maintain a healthy relationship, it’s important that you both manage your money as one.
By being open to conversations about money, you can put yourself in a position to be even better informed about financial matters and share those skills with your friends, family, and even your kids.
