Comments on: Marriage and Money: Joint or Separate Accounts

By: One Money Design Week in Review

One Money Design Week in Review — Sun, 07 Mar 2010 23:54:08 +0000

[...] Marriage and Money: Joint or Seperate Checking Accounts - Green Panda Treehouse. This was an interesting article which generated a lot of good discussion around money management for couples. [...]

By: The Best GPT Posts of 2009

The Best GPT Posts of 2009 — Wed, 30 Dec 2009 13:31:36 +0000

[...] Marriage and Money: Joint or Separate Accounts [...]

By: August 2009: Financial Progress Update

August 2009: Financial Progress Update — Thu, 01 Oct 2009 23:02:18 +0000

[...] Marriage and Money: Joint or Separate Accounts [...]

By: Money and Relationships

Money and Relationships — Tue, 01 Sep 2009 03:51:34 +0000

I am happy to know that there are people who really have so much of understanding even after marriage
and tend to have all their money matters in joint because I know at times couples are squabbing over money matters and their relationships affects a lot because of this. I too was one of the victim to this and I was adviced by one of my friend to get rid of this and I did.

A few months back when i and my partner had some issues on money matters and our relationship seemed like it is gonna sink and i went into depression and only on one day my friend made me realize how i could overcome my issue with this.
And it worked for me and now, we are a happily living couple.

By: Marty Finn

Marty Finn — Fri, 14 Aug 2009 17:36:27 +0000

I think coming together with your new spouse and having this all important “finance chat” is a crucial step for every new couple.

I work with State Farm, and we often recommend that our customers add insurance considerations into their “things to think about” list of to-do’s when getting ready to or having already said “I do” – in addition to the 8,357 other things that need to be done.

As you can imagine, there are a lot of different insurance buckets to be evaluated and acted upon to make sure guys and gals get the right coverage together before they tie the knot (and in some cases, even save money by doing so). I think one of the best ways to get started with all this is to meet with an agent in-person to discuss both of the spouses current coverage, needs, etc and make a plan for what they’ll need in the future.

Another thing to think about, which may help new couples starting out in building a financial future together (and couples who’ve been together for a while that need some assurance), is to build an “emergency fund” – like some of you have already mentioned!

With the economy in its current state, it’s just good sense (as many finance experts will tell you) to have money set aside in the event the unexpected happens.

An easy way to get started with this is to use a financial calculator to chart out where your money goes each month and how that will impact your situation.

There are a lot of different calculators out there but one I’ve found helpful and comprehensive is available from Kiplinger: http://www.kiplinger.com/tools/budget.

As newlyweds think about how to establish their emergency fund, we at State Farm urge our customers to incorporate the cost of potential insurance deductibles – auto, home, health, and others – in the event of a claim – as you never know when an emergency will arise – and having some backup funds for those costs can make all the difference.

Hope this helps people and points those couples looking to combine their finances down the right path!