Arguing About Money? Here’s How 6 Couples Seamlessly Split Their Finances
They range in age from 22-72. They have different salaries, responsibilities, and hobbies. But there’s one thing all these couples have in common: they’ve totally figured out this money thing.
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Carol, 71, writer & and Ronnie, 72, retired
“When we got married 48 years ago, like most newlywed couples, we had to find a way to manage our money. We were both serving in the Air Force at the time, and I quickly learned that my sweet man had different ideas on how to manage money than I did. Having been raised by a mother who survived The Great Depression, it was important to me that we paid our bills on time and had good credit.
We decided we would pool our money so that we always knew how much we had to work with. We both put two thirds of our income together and retained one third to save and use as we each saw fit. Our first hurdle was having a joint checking account and both trying to write checks. I jotted down every check I wrote and asked my husband to do the same, or at least tell me how much he wrote one for. This notation didn’t always happen, and I frequently found myself on a first-name basis with the teller at our bank due to overdrafts. So, we decided that I would keep the checkbook; he would tell me how much he needed, and I would write it out and give it to him. We also agreed to discuss large purchases—cars, furniture, etc.—before actually purchasing them. Any extra funds are spent paying off bills, saving a bit, or treating one another. Agreeing to this way of life has kept us from ever fighting over money.”
Some names have been changed at the requests of the sources.