Money, Money, Money!* Must be Funny, in a Rich Man’s World…
ByFinances are a sticky-wicket for most LBBs. For one, we’ve made some money. But, so has the significant other. Combining our hard-earned cash was, well, a process. And, it should be.
If you’ve been the sole holder of the checkbook for a while, well, let’s just say, having it wrested from your grasp sharing it with someone else isn’t going to be the easiest thing you’ve ever done. Take it from this LBB…
Whether or not you got married at age 21 or 51, money is at the heart of many arguments according to the experts. Apparently, money is a number one reason why couples even break up for good.
A few resources for you if you are wrestling with how to join finances (as well as hands):
Six Financial Mistakes Couples Make
How Late Bloomers Marry Assets
The Pre-Nup Yes, you should have one. I don’t care if you arrived with just a suitcase of cute shoes. You want to be able to keep them. When Husband first brought up the idea of a pre-nup, I was sure the romance was over. But, now I am grateful. Cuz no one – and I mean no one — is gettin’ Grammie’s tea set but the descendants. And, besides with a third of working women nationwide now out-earning their husbands, you could end up being the one to pay alimony as easily as he is. And, who wants that?
*Money, Money, Money by Abba
2 Comments
October 22nd, 2009 at 11:55 am
When I divorced the first time, any alimony paid would have been paid by me. The Master of the Court who heard and ruled on the case had a very hard time wrapping his head around that.
Seperate finances are one option, yet hardly practical for every aspect of marriage. Another perk to the pre-nup is that you both find out before the wedding how you will treat each other (and yourselves) in potentially confrontational situations. It can be a real asset in learning to communicate effectively when you’re not in an argument situation.
October 22nd, 2009 at 12:07 pm
JeAnne, Good thoughts! Yes, I found out just how Husband felt about money — and how that related to me — very early on due to the pre-up process.
We have a joint account (for household bills) and separate accounts for everything else. So far, so good.
The question I have is — do most people put in a percentage of their income (so the higher earner puts in more) in the joint account or just splt everythign 50-50 regardless of who makes what? That is an interesting decision to make!