The Question
I don’t have a lot of debt, but I do have a car loan, personal loan, and two c.c all this amount is about 52,971.09. I make 55,000 yr.
My wife has separate finances then me due to us making poor decisions in the past together with finances. Tonight we are having a discussion on finances.
I’m not sure if we should continue with our separate accounts and bills or join back together. WWDD?
ANSWER 1
If you’re married, then you both have to be accountable to each other. It’s really the only way it works since my husband and I have shared finances and do a budget meeting nearly every week we do far better. Our net worth is over $500,000 and climbing every day.
 I’ve been married almost 36 years. There were some ups and downs, but ultimately when you care about somebody, you’ve got to be working together as a team think of it as being those Budweiser Clydesdales moving together in unison, pulling a wagon.
ANSWER 2
Dave wells tell you you are joined as one and that should be in everything. Unity is important to marriage and to money. A good way to sink a shop and a marriage is for two people to rowing in docent directions.
Take Financial Peace University together. Have a budget meeting, one that has zero judgement towards each other, where both of you are honest about income, debts, savings, and get it all on paper, no secrets even if they look ugly. Having unity and trust takes complete honesty. List everything together, not seperate. Combine your income for one budget. List all debts together smallest to largest regardless of whose name is on it.
This will take commitment, honesty, working together, lots of conversations, budget meetings, and grace from both if you because it will take time to get it right.
ANSWER 3
Glad you are sitting down to discuss. This is the first step. I have been married 37 years. My wife is my partner, we are one. In everything. Our finance are in one account. The income is ours. The bills are ours. I highly recommend you do it as one, because that is what you are. Make a list of all the debts. Make a zero balance budget. And get at it. The reward at the end is freedom. Nothing like it. You can do it.
ANSWER 4
Absolutely join finances. My husband and I had separate accounts for years, and once we decided we were truly a team and joined forces, we not only paid the debt off, but we drew closer together. Every monthly budget meeting brought us closer and we began to dream together again.