QoD: Do more couples in a relationship manage their finances jointly OR separately from their partner?

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Oct 22, 2019
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Question of the Day, Behavioral Finance
Answer: Jointly (78%) vs. Separately (22%)
 
Questions:
  • Which do you think will make more sense for you in future relationships: managing financial accounts together as a couple or separately? Explain.
  • For those couples who manage their money jointly, what do you think can be causes of stress? 
  • For those who manage their money separately, what can be sources of tension? 
  • Do you think that it's important for a couple to have similar attitudes about money? Why or why not? 
Behind the numbers (PolicyGenius)
 
Policygenius found a majority of couples are tackling finances together: 78% keep and manage joint finances, while only 16% don't know core financial facts about their partner. Overall, 22% of people manage money separately from their partner, consistent with the 21% who said they managed money separately from their partner in 2018.
 
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Want to delve into this topic more deeply? Check out our lesson on Family, Friends and Money
 
 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.