If you’re in a couple and you’ve started discussing and planning your investing, and spending strategy as a couple, you may consider merging your money into one joint account. Whether you decide to open a joint account or to maintain separate ones is up to you, but before you take the plunge into a joint account, make sure you can answer the following questions:
Are you prepared to talk regularly with each other about money?
Are you willing to take the time to review your bank statements together?
Do you completely trust you partner to use your joint funds responsibly?
Are you both on the same page when it comes to how to spend your money?
If your partner had more personal expenses than you, are you comfortable using funds from your joint account to cover them?
If you partner brought debt into the relationship, are you OK using a joint fund to pay it off?
Are you at ease with your partner having access to information about all the purchases you make on a daily basis?
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