Financial Organization, Planning, Budgeting - To Share or Not to Share
According to an American Express survey, keeping your finances separate from your spouse could lead to problems. Here are a few of the findings:
- Almost twice as many couples who keep finances separate argue over household finances compared to those who merge finances
- Couple with separate finances are 20% more likely to misrepresent the amount of a purchase
- Over two-thirds of couples who keep finances separate say they would have managed their finances differently if given the chance, with most saying they would save more and spend more wisely
While every situation is different, it is likely that keeping finances separate results in fewer opportunities to talk about financial goals. However you handle your finances, make sure you create joint goals and work together to reach them.