How do I split finances with my spouse?
My spouse and I are figuring out how to handle money now that we're married. Do we combine everything into joint accounts, keep everything separate, or do some mix? How do other couples handle finances fairly when we earn different amounts? What's the best way to avoid money fights?
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2 Answers
Don't make a big financial decision when you're stressed or excited. Sleep on it. The dealership, the realtor, the salesman all want you to decide RIGHT NOW because pressure works in their favor. Walking away is always an option.
Taxes are the part everyone forgets about. Whatever you're planning, factor in what you'll owe Uncle Sam. Talk to an accountant — a good one saves you more than they charge. H&R Block is fine for simple stuff but get a real CPA if it's complicated.
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