facebookI'm about to get married. How do married couples split their financial expenses? - Seedly

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Anonymous

18 Apr 2019

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I'm about to get married. How do married couples split their financial expenses?

My parents went for a system where one would pay a certain bill, the other would then pay another bill etc. They quarrelled a little because of this. Just wondering if there is a best/safest way to do it

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Kenneth Lou

17 Jan 2019

Co-founder at Seedly

I'm going to quote Siti Putri on this as I find she has really thought this through... her full answer can be found here

"I recall for pre, I just do and buy whatever I want especially since I am already disciplined and relatively savvy in my own savings and investments.

We believe in equality, so before marriage all the expenses during our co-habit for 3 years prior marriage were split equally.

But for post, we somehow adjusted. We talk things out first for big tickets items. Somehow, I am the CFO, Planner and Secretary for us, so I am in charge of all these things. But only because there is a level of trust and I am better at it. I think you can consider each otherā€™s strength and weaknesses to decide such roles.

I believe in own financial planning for self and as a couple. There are some savings and investments that are in my own name and decision. But I also set aside a joint savings account, joint investment trading account and shared properties investments. I also ā€˜helpedā€™ my hubby to invest his own money by offering my analysis but the call is his to decide.

The next important thing is life goal direction. Especially if you got to know your fiancƩ from school days, are there any changes. For example one is career minded in rat race vs the other bochap take things with the flow. One wants to FI early so really work hard to save and invest; meanwhile the other spend money anyhow.

I think my case is unique as my hubby is Financially Independent early retirement. But i am working towards it for myself. This makes my investing on behalf even more challenging because of different objectives. I am about growing wealth and he is about preservation."

Nicholes Wong

16 Jan 2019

Diploma in Business Management at Nanyang Polytechnic

Discuss with your partner lor. You can also choose to split equally based on how much both of you earn like each person contribute 50% pay to house stuff and so on. Or do your parents system. Everyone are different. The main thing is you discuss with your partner and come up with a plan that both agrees on because thats the most important part than the method to split.

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