Sometimes, It Pays to Share Your Finances, Too

Sometimes sharing is the last thing you want to do. But there is one thing that we love to share: love. When we’re in love, we want to share our time, our space, our thoughts, our dreams, even our children. We share these things naturally because that’s what you do when you’re in a relationship. But the verdict is still out on whether it is expected — or even good — to share our finances. There are definite pros and cons to being financially joined to your sweetheart. Pros would be things like lower banking fees and tax credits. Cons are things like credit risk and lack of privacy. And while it may seem that this decision is purely a financial one, sharing a bank account also has significant effects on the quality of your relationship itself. Since it’s February, the month of love, we’re going to talk about the positive aspects of combining your finances. We have five ways that joining bank accounts with your spouse will improve your love life. Read all about them on our sister site, Living on the Cheap.