I’m a total romantic at heart, which is why I was absolutely stoked to get married and combine our cash. The crazy thing is that I’ve been hearing a lot about it lately. Call me old-fashioned, but I think marriage should be a partnership.But guess what…you should know all of this ahead of time. When you get married, you are now considered a legal partnership in almost every state. Just because you keep your finances separate doesn’t mean that creditors won’t come after your money as well.For realsies, I don’t blame you for finding this type of behavior troublesome. But if it’s so bad that you’d prefer to keep separate finances, you should probably be reconsidering marriage in the first place. Plus, it is very possible that you have both benefited from some of this debt, especially when it comes to student loans. You are now a legal partnership as well as an emotional one, so you may as well act like one.*sarcasm drip, drip* If you are this gun-shy about combining your finances, you’re probably not ready to get married again. This type of arrangement is bound to cause resentment, which usually means a big ‘ol fight.In my experience, the exact opposite of this excuse has been true. As I’ve said before, when the team is put before the self, the team prospers.
I’d marry my wife all over again just to get the feeling of our pocketbooks (and our hearts, of course) becoming one.Several – if not most – of the married couples I know who keep separate finances have at least one member of the partnership who is divorced.Look, I understand that they may have gone through some traumatic times.Some people like to play the “It’s their debt” game. Instead of separating your finances, why not team up and knock that debt out together?
You now have double the ammo to mow down your biggest of financial enemy, so take advantage of it before it becomes a problem for you both.
But nothing says “We’re in this for the long haul” less than having a backup plan things don’t work out. Personally, I think people who use this excuse are fooling themselves.