Consolidating finances when marrying
We started out immediately with separate bank accounts, to which our income was direct deposited.
From there, we determined what out average monthly living expenses were, added a small cushion, and then each set up a second direct deposit of an equal 50% to cover those joint living expenses.
As financial problems are the #1 reason for divorce, the importance of doing so should not be overlooked.So what, then is a person to do when faced with the prospect of combining their finances with another person’s?
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