facebookDo you have a joint savings account with your boyfriend/girlfriend? Is your contribution 50/50? What is a reasonable amount to put in each month? - Seedly

Anonymous

03 Dec 2019

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Do you have a joint savings account with your boyfriend/girlfriend? Is your contribution 50/50? What is a reasonable amount to put in each month?

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Never mix money and relationship tgt when marriage is not yet on the cards​​​

I tried creating one joint savings account with my girlfriend a few months and apparently the bank told us that we need to have the same resident address to be able to open a joint savings account.. Do take note

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Equal amount before marriage, assuming the account is used for common purposes

HC Tang

25 Sep 2018

Financial Enthusiast, Budgeting at The Society

As nothing is 100% sure before marriage, where we've seen many of our friends lost their deposit for HDB due to change of mind but already committed to HDB.

$ is also the 1 reason by couples/marriage falls apart.

So the best way to save together is to:

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  1. Help each other to learn to budget and save each month

  2. Keep the $ in own high interest account (eg. DBS Multiplier) or in SSB (since it is 1 to 3 years durations before marriage)

  3. Amount to save, invest and expenses, can refer to seedly guide:

https://blog.seedly.sg/working-adults-allocate-...

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Agree that the above doesn't pool funds together for higher interest, but it is more of self disciplin to start savings, investment and keep expenses at bay.

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Being able to practice good budgeting and financial managment helps in the future when it comes to wedding planning, after marriage family financial management.
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With that financial / budgeting learning experience when one is single, one can continue and excel even better without entanglement after marriage when resources is pool together.

I think it depends. if your salaries are similar to each other's, then i think a 50/50 contribution ...

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