Of course, that precedent comes from a time when women were much less likely to do paid work than they are now. The upside of couples combining all of their money is that it can promote a sense of unity, as “mine” becomes “ours.” More practically, pooling resources can buffer both partners from ups and downs that they may experience with their respective finances.Īnd surely, many couples switch to fully shared accounts simply because that’s how marriage has typically worked in previous generations. And although no single system is going to be best for everyone, I tend to agree. The personal-finance experts I spoke with recently tended to side more with Orman, advocating for a “hybrid” approach-sharing some money and keeping some money separate. Suze Orman has said she would “never, ever have just one joint account.” Dave Ramsey has dismissed arguments for keeping separate accounts as “a bunch of crap.” Respondents in a 2016 survey were split almost exactly 50–50 on the question of whether a married couple should merge all their money, and two titans of American personal finance give conflicting advice on the matter. The share of committed couples, married or not, who keep at least some of their finances separate has risen in recent decades, in part because Americans tend to marry later, after they’ve already developed their own financial habits.Īs norms have shifted, though, Americans haven’t reached a consensus on which financial arrangement is best for relationships. In the 1970s and ’80s, not doing that was sometimes considered a bad omen for a relationship. When Americans marry, their finances usually do too: The majority of married couples put all their income into shared accounts.
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