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How Do Couples Divide Their Money

HOW DO COUPLES DIV THEIR MONEY IDE mintcom com How Do Married Couples Divide Their Money? Young Professionals Affluents More young professional couples (48%) separate monthly expenses than affluent couples (37%) with an annual household income of $100,000 or more, and both of these groups do so more than the general population (34% of couples). Affluents Household income $100k+ Young Professionals Under 30, college edu- General cated, household income Population $4 $50k+ Discussions on 37% 34% household 72% 45% 44% 48% finances lead to arguments 66% of couples pool their resources and expenses, while the other 34% divide their bills equally each month. Average threshold price at which couples need to consult with their partner before making a purchase $249 $275 $395 %$4 Each partner has individual checking BILL 25% 15% 15% account BILL S128.56 34% Each partner has individual 66% savings account 28% 17% 15% Saving For Retirement 77% of married couples rate their communication about finances with their spouse as excellent or good, and 68% say they trust their spouse to make investment decisions. Couples who don't have a financial plan have different feelings about com- munication and trust than those who do. Each partner has individual retirement account 50% 35% 49% 100 Keep some or all of their debt separate from their spouse or significant other 80 43% 20% 22% 60 40 Do not know how much debt they carry as a couple 20 5% 31% 20% Trust spouse to make right investment decisions Communication about finances is positive General Public Gen Y Financial Secrets O Affluent Baby Boomers Among Couples O Young Professionals 60% 50% 40% 30% 20% 10% 0% Hide purchases Misrepresent Do not disclose debt Secret account Not forthcoming Buy something partner doesn't agree with amount of от саrd about credit score purchases Couples Advice For Newlyweds Make sure you have an emergency fund to cover at least 6 months of expenses Watch your pennies and the dollars will flow 29% 4% Fidelity Investments asked married couples the best piece of advice they would give to newly- weds about how to manage finances as a married couple. This is the most important advice couples came up with and the percentage of couples where both spouses agreed on the topic. Designate the most finan- cially knowledgeable spouse as the financial decision-maker Don't hide expenditures from each other 16% Disclose your income, debts and assets to each other before getting married Make all financial 45% of the couples who gave this advice report making decisions about day-to-day financial matters together, while 38% of couples report making decisions together about retirement finances. decisions together 57% 14% Make a budget and stick to it Set up a joint household account and individual accounts for personal spending 34% 4% | | Fidelity Investments hose who have a plan Those who don't hose who have a plam 1, uop oym aso4

How Do Couples Divide Their Money

shared by aleks on May 18
Few topics ignite as much curiosity and passionate discourse as that of handling money in a relationship. Should couples merge all their finances? How large of a purchase can you make without discussi...



Ross Crooks


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