Five Benefits of Combining Finances – for couples keeping separate accounts
Like many couples these days, my husband and I lived together before we were married so our finances have evolved over time. We became roommates while we lived in college housing and student loans covered our living expenses. When we moved out of college housing, we opened a joint checking account and developed a (flawed) system of each transferring half-ish of what was needed to cover the joint bills. This system only got more confusing and flawed as time went on and it carried over into our marriage. We were married for over two years and even bought a house before we learned the benefits of combining finances.
Combining finances isn’t for everyone, but here are the reasons it works for us: