Personal Finance for Couples: An Equitable Approach

Couples Finances

Perhaps a happy money relationship isn’t about being equal, just equitable! 

My wife and I long ago decided to split our expenses 50/50. Things like rent, food, electricity, etc. At the time, we maintained our finances separately. Income, expenses, savings were all tracked separately.  We each used Quicken for tracking our personal finances separately, and we both had a knack for not over spending. Although, Mrs. LifeMoneyFire is more disciplined than I was.

So, it wasn’t until we got married and soon after bought our first home that we decided it was time to merge our finances.  Honestly, it was the best thing we could have ever done for our personal finance.

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It’s not a budget!

It’s not a budget!

How do you decide who to pay after you get paid?  Some may say, “Well, I have a budget.” Sure, a budget may be the obvious answer.

Before that, though, what was your thought process leading up to creating your budget?

If you don’t have a budget, the same question still applies: How do you decide who gets your hard earned income and why?

Whether you have a formal process or a simple flexible mental exercise (aka no process), the only right answer is the process that works for you. Besides, who the heck sticks with their original budget. Read more