Yes, that’s a quote from the film Titanic, but before the chorus from “My Heart Will Go On” gets stuck on repeat in your head, this post is not about all things Leo DiCaprio.
It is about the leap of faith regarding money matters once you get married. You go all in, you go for broke. What’s mine is yours and what’s yours is mine. Or is it?
Many married couples, as soon as the ink is dry on the license, immediately set up a joint checking and/or savings account. After all they are now “one” and their finances accordingly should be as well. But this isn’t always the best option.
Couples, regardless of a vow ceremony or not, need to be on the same page financially. If you don’t have the same ideas regarding money, and one is a spender while the other is a saver, a joint banking account will only make for murky waters. It will create problems where there were none. It seems like a no-brainer, but you’d be surprised.
Couples divorce for many reasons, but one of the main ones is because of money. Money makes for strange bedfellows. Money can tear up the strongest of relationships if you allow it to.
If you are a couple with separate bank accounts and are thinking about combining them to make things easier, ask yourself “Will it really be easier?” Because if you are disagreeing about money and where it is going now, then the you know what is going to hit the fan if you set up a joint account. Whether you are the spender or the saver in the relationship, you both need to understand each other’s spending habits and come together. Come together and stand strong financially. Know that although marriage does combine you as a unit, it need not signify a combination of bank accounts.
Marriage means taking a leap of faith on all fronts. Not just with your heart, but with your wallet. Do what’s best for you as a couple, whether that’s separate or joint bank accounts to keep the peace. Don’t let money compromise your marriage to the point where the “D” word (divorce) is even an option, let alone on the table.
Because when you promised always and forever, you said in essence “You jump, I jump Jack”. Whatever I go through, you go through. We will fight every battle and hunker down for the long run.
Remember this when money makes you say ugly words in the heat of an argument. Remember this when the voices are raised and you feel as if you are banging your head against a wall. Know that your relationship is stronger than any account number, any bank balance, any monetary disposition. Know that you are a team and money will only come between you… if you let it.