It is a common statistic that money is the number one problem in relationships.
This fact most commonly describes marriage relationships but money between roommates and family members can get sticky, too.
Although we have lived together for four years, Spencer and I have chosen to keep our finances separate and will continue to do so in our marriage. Many people believe that this shows a lack of trust but we think it is best for us.
Spencer and I both have our own careers and our own money. We also have our own things to spend money on. Spencer is an avid WWII collector. He does not like used clothing. He enjoys fast food from time to time.
I like luxury yarn. I own a very nice sewing machine. I like to treat myself to a Soy Chai Tea Latte from time to time. Both of us view the other’s splurges as silly, which is why we keep them separate.
We have big goals in mind: saving for a house, a wedding, and getting out of debt. We just have our own way of reaching them.
For day-to-day expenses I have found a wonderful online calculator, Split the Rent. You enter each bill and who paid it. The program automatically “charges” the other person for their half. I so wish I had this through all of my different college living experiences!
We don’t like to nickel-and-dime each other or feel like ol’ buddy roommates. This program keeps us in order.
I am curious… most married couples I know share finances. Why do you choose one way or the other? Is your way different from what your parents do? Why?