Is It OK For Couples To Have Separate Bank Accounts?

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Is it ok for a couple to have separate accounts? There are pros and cons to this decision and we will discuss them today. Another question we will address is, “does the person who handles the money have the most power in the relationship.” Couples sometimes fight over who should handle the money in the relationship or whether it is best for each to handle their own relationship. Andy has his views and Kiné has hers. What’s yours? Listen to this episode and comment. With a few key lessons and actionable tips, you can stay happily married. Check out this episode to learn something you can start using today to improve your money, mindset, relationship, and/or life.

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Go to http://marriagekidsandmoney.com/playbook

Check out Kiné’s Marriage Money Mission course: Click the link Marriage Money Mission

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Takeaways:

  • The person who likes handling the money is the easy answer but what if both want in on the action?
  • Creating a formula that is right for your relationship.
  • Maybe one person does 30% and the other does 70%.
  • Get a trusted third party to help resolve conflict.
  • It could be a course, a coach, a workshop, an accountant, or a financial advisor.
  • Separating accounts is often about distrust and avoiding the touch conversations.
  • Two people saving in the same account multiplies the accounts.
  • Andy says, some couples find success with separating accounts.
  • Kiné says, another option is to have all money go into one account and then distributed it to all the other accounts.
  • Each partner can have their own fun account to eliminate the judgment of each partners purchase.
  • You can use a resource like Famzoo.com to give everyone in the family their own account.
  • No matter who handles the money there should be one plan.
  • Take the Marriage Money Mission Course…combine to determine how you want to earn, grow, protect, gift and enjoy your money. How do you want to earn, grow, protect, gift, and enjoy your money. You can reach your idea together: Marriage Money Mission

Links from episode:

Check out Kiné course: Marriage Money Mission

Check out Andy’s FREE resource, The Young Family Wealth Play Book: Go to marriagekidsandmoney.com/playbook

Get the 7-steps to grow your wealth.

Call to Action:

Take my FREE Money Mentality Course and Quiz start here: Money Mentality Course

Connect with our guest:

Find Andy Hill at: MarriageKidsandMoney.com

Featured Resources:

Have you taken the Money Mentality Quiz? If not, do it today. Go to: kinecorder.com/money-quiz then you can take the course after at kinecorder.com/money-course

Next Episode:

Check out Q&A with Andy and Kiné on the 4th Wednesday of the month

Want your questions answered, click here. Submit your question and we may answer it on the show.

Next month is Financially Awareness month. We are going to help you take your wealth to the next level. We will talk about how money can stress and what to do about it.

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