Jenny asks Dave if her and her husband should combine their finances. Dave explains two big reasons why that’s is important.
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My husband is 79 years old and not good at saving, remembering anything etc. , I have my own checking and savings accounts while he has a $1 and some change in his just to keep it open.
Baloney. So many men have told stories of the wives bankrupting them. In those cases somebody has to be the saver even if it requires a secret separate account or else you can be taken down the tubes via no fault of your own. Wake up Dave.
People should have their own separate accounts and one joint. You need to watch out for yourself in today’s world. I don’t agree with you completely on this one, Dave.
Just stay single and not have to deal with it,and if your divorced,then learn from it and don’t marry again.It’s very simple lol
this is really bad advise
Best decision we ever made. Every time I see someone defend separate accounts there seems to be major marital problems or very selfish/childish people.
Have to disagree with you on this one Dave. Also disagree with your views on prenuptials.
Dave recommended prenups before. What gives
"Datapoints"
it is important to have a good marriage but it’s even more important to have money so that you are able to live with self respect
I married my wife knowing fully of her inability to be responsible with money. We keep the accounts separate and there's no fighting.
I am also the breadwinner so it works
I think it’s poor advice. It’s all nice and good if the relationship is good. As soon as it goes south and the joint account is cleaned out you then see how lousy all the money in one account is. You should have a joint acct for household bills and each have a separate account. Security on all fronts.
Ofc a joint bank account wouldn’t work if you don’t live off of good morals and values, or you don’t fully trust one another. For couple that do have those things, joint account work very nicely
No don't give your money to women, they will destroy your life, you can set up a joint account and share contributions to your marriage, but never dump all your earnings there especially since the divorce rate is 50% and 80% of divorces are initiated by women. Don't be gullable and protect your sanity
There are times when separate accounts are beneficial. My husband spends a lot of money on his hobbies, and I hate feeling like I need to nag him about spending more than the agreed-upon amount each month. So we opened a separate checking account just for him with a recurring transfer from our joint account. Now he manages his own money and I don't feel like I need to give him a hard time about big purchases.
I agree with a lot of his methods however this old religious boomer is wrong on some things
No
I guess it depends, because when I have kids we are planning for me not to work for the first year at least, and I’m not gonna live in poverty in my husband‘s house. We have no choice but to combine. Also what if one spouse loses their job? If everything is separate and you have to support them, I feel like that would cause some resentment and some selfishness.
I have been married for 10 years and we DO NOT have joint accounts.
Me and my wife are both financially savy, so we control our own monies very well – also we onky have a joint account for bills etc. That's it.