Should Couples Combine Finances?
6/2/202621 min
Learn whether combining, separating, or splitting finances with your partner is the right move for building wealth together. Host Andrew Giancola breaks down the practical and psychological case for combining finances, keeping them separate, or taking a hybrid approach. Then, he plays Red Flag, Green Flag: Relationship Edition with the team, reacting to real-life financial behaviors in couples. Interested in working with a financial advisor? Visit nerdwalletwealthpartners.com NerdWallet Wealth Partners LLC (NWWP) is a SEC registered investment adviser. Registration does not imply a certain level of skill or training, nor does it constitute an endorsement by any securities regulator. The content presented by NWWP on its Your Next Dollar podcast is for informational and educational purposes only and is not intended as personalized investment, tax, or legal advice to any person. The views, strategies, examples, and figures discussed are intended to be general in nature, subject to change at any time based upon market or other conditions and may not be suitable for every individual. Any hypothetical illustrations used are for educational purposes only and do not represent a guarantee or prediction of future results. All investments carry risk, including the potential loss of principal, and past performance is not a guarantee of future results. NWWP's investment advisory services are only offered where NWWP and its representatives are registered. Before making any financial decision, seek advice from a qualified investment, tax, or legal professional.
Transcript preview
First 90 secondsAndrew Giancola· Host0:00
In this episode, we're gonna be diving into the question: Should you combine your finances with your partner? Now, this is a hot topic, and every single time I talk about this topic, people have differences of opinion. Should you combine your finances? Should you keep them separate? Or should you do some sort of hybrid methodology? Well, today we're gonna be diving into the reasons why you may wanna combine your finances or why you may wanna keep your finances separate. Welcome to Your Next Dollar by NerdWallet Wealth Partners, the show where we help you make smarter decisions with the money you already have so you can build the life you actually want. I'm Andrew Gincola. Let's dive in. So when you are thinking about should you combine finances or should you do some other methodology, there are really only three different things that you should consider. One would be you combine your finances, two is you have completely separate finances, or three, you do some sort of hybrid methodology. Now, as we dive deeper into this episode today, I'm going to explain a couple of different things. One is I'm gonna explain the practical aspects of each side of this coin. But in addition, I'm also gonna talk through the psychology. And psychology is a major part of what we need to consider when we are thinking about combining our finances. And so this is one of those things that is really important to make sure that throughout this process you are in constant communication with your partner. Why? Because if you don't talk about money, a lot of things are gonna come out unsaid, and it's gonna cause friction, and it's gonna