5 Reasons to Keep Your Money Separate From Your Partner

Why you must keep your money separate from your partner

Source: Moneyunder30

There is something always said about keeping money and love separate so that the two do not taint each other. When you are in love, it’s natural to combine your finances because you feel like you want to share something.

Interestingly, financially binding yourself to your partner is the most drastic and potentially destructive move you can ever make.

Why keeping your money separate from your partner is important

1. Things will be much easier if the relationship fails
No one enters a relationship planning for its failure, but it makes sense to be realistic and know that most romances are just temporary.

By keeping separate accounts, you will have an easier time moving on from a relationship that turns sour.

Also, financial independence can make one party to stay in a relationship just for the sake of money.

Many relationships continue for the wrong reasons because one party has become monetarily dependent on the other.

2. It will be easier to monitor the spending
When money goes missing or bills go unpaid it can be tough to pinpoint which person is responsible. When accounts are separate, no such detective work is necessary. If it’s one person’s job to pay the electric bill every month and it went unpaid, it’s clear who the culprit is.

Keeping finances separate with your partner will make both parties to be accountable

When one person is dependent on the other’s finances, they tend to drive the other person away.

Both partners are better off when they take ownership of their own finances.

When you have your own money, you have the right to be aware of how much you have in your accounts, when payments are due and where exactly your paycheck goes.

This way no one can spend the money unwisely and feel uncountable for everything.

3. There will be fewer disagreements
Two people, no matter how well matched, have the exact same financial philosophy and values. Someone is bound to do something that irritates the other, fueling resentments and bitter arguments that can quickly escalate into breakups that have very little to do with money.

When each party is allowed the privacy to handle their money the way they see fit, there’s less of a chance of sparking a quarrel.

So keep your money to yourself and avoid fights!

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