Posts

Showing posts from May, 2016

A Flexible Way to Combine Finances in Marriage

Image
You'll find thousands of articles on the internet about the best way to combine finances when you get married. Do you keep them separate ("mine and theirs")? Do you combine them ("ours")? Something in between?

I got married last year, and we gradually developed a system that works very well for us. Even better, it's a very flexible system that you can adapt to your unique situation. We call it "mad money". Others call it "flex money", "blow money", or "allowance".

How it Works Our primary family checking account is used to pay for nearly all expenses: house payment, utilities, vacations, food, and so on. Naturally however, there are some expenses where our priorities are different. In your relationship, you might prefer to spend money on videos games, whiskey, and casino trips while your spouse would rather save for her model train hobby and bungee jumping.

Because of this difference, my wife and I each get a monthly…