Couples agonize over whether to combine finances, but after working in the financial industry for years, I think they’re missing a more important conversation

Couples agonize over whether to combine finances, but after working in the financial industry for years, I think they’re missing a more important conversation

  • Deciding whether to combine finances — including bank and investment accounts — is a big decision every couple must make.
  • But beyond that, I think couples are missing something: Having regular, open conversations about how money is being managed and spent.
  • A recent survey showed that more than half of millennial women defer to their spouses on financial issues. No matter your gender, though, participating in your own financial life should be a priority.
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If you’re in a committed, long-term relationship, you need to talk to your partner about finances.

Communicating openly and honestly about all things money — from how you feel about it to your long-term goals to some of the nuts and bolts of your current situation — is the first step in making informed decisions about how best to align your resources in a way that benefits you both.

Once you have those first few discussions, you might start wondering about the mechanics of managing your money as a couple. One of the most common questions that comes up, and that most couples get stuck focusing on, is whether you should combine accounts or keep everything separate.

While that’s an important decision, I think it misses a bigger, even more important point.

Managing your money has to be a collaborative effort

I truly believe that how you choose to handle money as a couple is a personal decision, and the best authority on the topic will be

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