Money is one of the leading factors in arguments within arelationship, and a lot of times it can even lead to divorce. It'simportant that the money you share with others is managedcorrectly, otherwise your hard work and determination caneasily go to ruin simply because of bad spending. As long asboth members are able to contribute an even percentage,based on how much each one makes, there shouldn't be anyhuge problems.

The key is communication and planning. There are a ton ofgood reasons to keep separate bank accounts even aftergetting together with the love of your life. It may seem likeyou should just pool together your money, but there couldbe huge consequences.

The Poor Spender

Hopefully, you and your spouse are both good at keeping yourspending under control. But sometimes, a few too many drinksat the bar or a bad shopping day can leave a bank account nearlyexhausted, especially for young couples that aren't establishedin their careers yet.

In this case, if you're not the offender, you can seewhy it makes sense to have your own account.Letting your spouse spend the money you'veearned and expect to pay rent or other bills with isa fast way to break apart a relationship. You don'twant to play mother/father, but even if you haveseparate accounts, you need to hold themaccountable.

There is especially a problem if you happen to have good crediteven if your spouse doesn’t. Their horrible spending habits canlead to you paying late on a car payment, house payment, orcredit card, which can damage your credit score that you've someticulously kept thriving and nurtured. It's a lot easierdropping your credit score than getting it back to goodstandings, and having a joint bank account might make thissomething you can't control.

Try to Avoid Heated Arguments, but Don't Wait to Split Accounts

A large issue is lack of communication. You don't want to tell your husbandor wife they can't spend at all, but not putting your foot down can be an issue.If they want to have a joint bank account or want to refuse going into separateaccounts, you'll have to be honest with them. This doesn't mean screaming,blaming, and threatening to bludgeon them (even when it might feel like thething to do). Instead, you'll need to break it down to them that 1.) If theycan't manage credit card spending, then you rather keep the money youearn separate. 2.) Their actions can hurt your credit score and make youlate on payments. Lastly, explain that you need to work on your financestogether, even with separate bank accounts.

The Equal Split

As I just mentioned, it's important to work on finances together,especially if one member is not as good at handling money. Insome cases, a couple needs to hold each other accountable, butif both members are able to contribute an equal amount (eitherin actual amounts or percentages based on what's earned) thenthe other really can't be too upset about having a separate bankaccount and limiting their spending to make sure everything isgetting paid off. Equally contributing is important, otherwiseresentment and other issues may arise.

When you don't have an endless supply of money, seriouslyconsider keeping your finances somewhat separated, but don'tkeep things from your partner. You're still in this financialsituation together, and both parties need to agree on that!

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