![]() When he met his second wife, who adamantly didn’t want children, he wanted to keep their finances separate. Unfortunately, this marriage ended in divorce, and Richard ended up taking much of his ex’s business debt for her failing business because he’s a nice guy. Richard earned far more than his wife did, and, eventually, he paid for her to open her own business. When he married his first spouse, they commingled their finances completely. This scenario is exactly what happened to my good friend, Richard. If that spouse wants to go on vacation or buy a nice car, and the other can’t afford it, the one who wants it will end up footing the bill. They both earn a good income. Perhaps one is a saver, and one is a spender? Ultimately, if they stay married forever, it doesn’t much matter which party has a bigger savings account. They both want to focus on their careers. Some couples choose not to have children. Legally separate finances in marriage how to#How to Decide If You Should Separate Finances But we also know when money should be spent, like on special vacations, safer vehicles, or our home. We both feel it is important to have a savings account that increases over time. ![]() ![]() Not to mention, my husband and I share the same views on how money should be saved. Neither of us is an excessive spender. You are making the joint decision that one spouse will focus on their career and earn a higher salary, while the other manages the home. Obviously, if you have an agreement like this, it doesn’t make much sense to separate finances. I would work as much as possible, but my primary responsibility would be raising our children. My husband and I planned that my career as an attorney would take a backseat to his career as an executive because I would be the caregiver for our children (and him). When a couple gets married, whether to separate finances is often a question. ![]()
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