Benefits of joint financial management:
1. You will see all aspects of your finances. Joint financial planning gives you a comprehensive understanding of your income and its allocation—especially useful when you're preparing for a large expense, such as buying a car or a house. However, think twice before making any big purchases!
2. You can make better investments. This is a simple math problem: the more money you can invest, the more diversified your choices will be, and the higher your potential return will be.
3. Enhance your relationship. A study shows that sharing finances can strengthen your bond; money shouldn't become a lever for emotions. You both have equal standing in all decisions because all the funds belong to both of you.
Situations where economic independence is necessary:
1. When you first started living together. A Norwegian study suggests that when you first start living together, you can establish a system to ensure that your money doesn't interfere with each other's, but encourage you to exchange items in a market-like relationship (for example, you buy food from the refrigerator, and he pays for other expenses, etc.).
2. You're also "acting" in "Modern Family." Perhaps you (or your partner) have a child from a previous relationship, or you need to care for a member of another family. In those cases, maintaining financial independence allows you to continue fulfilling your responsibilities without adding to budgetary complications.
3. You feel guilty. According to a poll, over 30% of people involved in syndicated finances have had unethical thoughts about money. If you find yourself telling white lies, it might indicate that you shouldn't have participated in syndicated finances in the first place. Keeping your assets separate eliminates guilt.
Final verdict:
You can't have your cake and eat it too. Good news! This isn't always a black-and-white issue. Make a neutral decision, establish a joint account for your main funds, and keep some savings for yourself. This perfectly solves your dilemma! The above content is exclusively authorized for use and may not be reproduced without the copyright holder's authorization.
