We’ll keep the intrigue to a minimum. In our opinion, the answer to this question is a resounding yes.
Whether you’ve just gotten married (congrats!) or you’re in a committed, long-term relationship, it may be a good idea to have a joint account with your partner. Sharing your finances with your partner builds trust. Keeping them separate can breed suspicion and worry; plus, separate accounts keep your partner out of the loop on your day-to-day spending and savings habits.
Why do partners keep separate accounts? It may be a leftover habit from when you were dating. Or, you may have seen your parents control their accounts separately and assume that’s the best, or only, option.
The good news is, there’s still time to change things if you’re considering opening a joint account. Tune in to the full minisode for all the deets from Dustin! It’s only a few minutes, so you have no excuse to not tune in...
WHAT YOU’LL LEARN
- Reasons why people might keep separate accounts
- Community property laws
- The importance of trust in a marriage
- Arguments against joint accounts (that are actually red flags)
This material is for general information only and is not intended to provide specific advice or recommendations for any individual.
RESOURCES & PEOPLE MENTIONED
- The nine community property states
- The other states follow equitable distribution laws
- Check out our new program, Wealth by Design™ DIY!
- Join the Know Your Numbers challenge
- Schedule a free call with us — Are we a good fit for your financial planning needs?
CONNECT WITH DANIELLE AND DUSTIN
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