If you are in a long-term relationship with someone, you are no doubt thinking about the future. This includes things like living together, but it also includes finances. This includes living together, but it also includes finances, because when you live together, you will have to share who pays for what and how. There will be new brand new items that will be shared, so it is important to discuss how to pay for those items in the first place. In the past, a joint account was set up and the couple would automatically share the money they earned. This is quite impractical and is therefore rarely done today. This is because if it had been done before, people would forget about themselves and the fact that part of the money belongs to them and that they are entitled to buy something with the money they earned.
On the one hand, one of the spouses would manage the household finances and thus the bulk of the money. Fortunately, this is seldom the case today. So how can everything be made fair? In addition to having two accounts where each income comes from, rent, food, electricity…
In short, you may want to use a joint account to pay for items that concern you both. If you live together, there is more. Therefore, the money is transferred from each account to this account. The same amount will be remitted in the event of marital breakdown, in the event that you can break even, or in the event that something happens to you. You may want to create another account for savings. The same amount will be transferred to both of you there. This account could serve as a deposit in case something goes wrong, or as savings for a new couch or car.
