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Joint or separate account: what is the best way to manage the couple’s money?

The economists interviewed by Terra agree that there are good practices to follow for those who want to build a future together


There are best practices for couples who decide to have joint or separate accounts. Experts highlight the importance of disclosing and reserving part of your income for personal use and future investments.

If every family is unique, is there only one ideal way to organize finances? The answer is simple: NO. There are couples who will prefer to have joint accounts and others in which each will want to manage their own money and, according to the experts interviewed by Earthneither option is necessarily wrong.

Economists, in fact, agree that there are good practices that can be followed by anyone who wants to build a future with their partner.

“In these relationships in which there is that partnership of addition, multiplication and donation between the parties, in this case there is no problem in unifying the financial issue”, says Alessandro Azzoni, in defense of joint ownership.

For the economist, this is a great option for couples who add their incomes into one income and create a kind of family income. He stresses, however, that this relationship must be constructivist, that is, both parties must contribute.

On the other hand, Azzoni underlines that, even having a joint account, partners must think about their individuality. He proposes that everyone have their own private account, with a third or a quarter of their income, for personal purchases, which do not necessarily fall into the family budget.

Economist and financial advisor Camila Bez Batti underlines the importance of saving a percentage of your income for yourself, thinking above all about the future.

“It’s important for everyone to have separate investments for their future as well, because we don’t know what might happen in the future. So, question of death and all that, it’s a question of security, even thinking about retirement,” he states.

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How to organize your finances without having a joint account?

For those couples who don’t want a joint account, but want to share information about their finances to outline plans and goals together, the key is communication.

Economists suggest using shared spreadsheets and even apps to track spending.

“It is essential that couples have moments to talk about money, talk about dreams, talk about the goals, both personal and professional, of the couple or in relation to family projects. And be able to put a price on these dreams, understand if they are both on the same wavelength” same path, if they are willing to help each other to achieve, which is a priority for each of them… I believe that this work together strengthens the couple a lot, and it becomes increasingly easier to achieve these goals”, he consider Camila Bez Batti.

How to divide expenses with different salaries?

Economist Alessandro Azzoni believes that the best solution is for spouses to add up their incomes and consider them as one, removing that percentage for their own use. In this way there would be no distinction between those who pay more or less for common expenses, such as household or travel expenses.

Camila Bez Batti believes this route may not work for all couples. For example, you mention that some couples prefer to divide each other’s income proportionally.

In this case the partner who earns more pays more.

“And there’s also the option for some people who like to pay half, half and half. What I mean by that is that there is no one right way. There is what works best for every couple and every context,” says the economist.

Source: Terra

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