Description

Should couples keep their finances separate or merge everything together? What happens when money meets commitment?

In this episode, Nick Russell and Becky Wagoner tackle the often uncomfortable topic of combining finances in relationships. They discuss why couples who merge their accounts tend to be happier and more financially successful, share practical steps for combining bank accounts and assets, and explore when it makes sense to keep certain accounts separate. 

Nick and Becky also address the delicate balance of financial awareness between aging parents and adult children, offering insights on how to handle money across generations.

Key takeaways:

• Opening joint bank accounts creates accountability and transparency while paying shared bills from one place
• Couples who merge finances report higher relationship quality and stay together longer than those who keep accounts separate
• Writing down financial goals and sharing passwords for all accounts builds trust and prevents future complications
• Adult children should have awareness of aging parents' finances without necessarily having control over the accounts
• Keeping separate accounts makes sense in specific situations, like child support or alimony payments from previous marriages
• And more!

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