Weekend Update: Sunbreak Edition
Saturday, 13th October 2007 (by J.D.)This article is about Spare Change
The Oregon rain set in a little early this year. It’s been wet for the past couple weeks. Today, though, the sun came out. Kris and I spent several hours in the yard trying to reduce the huge mass of limbs and leaves we’ve accumulated in the three years since we bought this house. Tomorrow I may be able to give the lawn one final mow before winter.
Meanwhile, here are some interesting recent posts from other personal finance blogs:
- PFBlogs.org is raising money for financial literacy. This is a great cause.
- JLP reads a report that notes 41 million in the United States can’t afford basics. Like most people, he wonders can be done.
- Jonathan explores a framework for thinking through personal finance. I like mental exercises like this.
- Flexo writes about how to best handle old credit card accounts.
- Nickel has been dealing with a collection agency that decided he owes them money. As a result, he’s been reading all about the fair debt collection practices act.
- Free Money Finance describes how he made millions off a $5,000 investment. I, too, am a big believer in the power of education, and in the value of working hard to reduce the costs.
- The Mighty Bargain Hunter looks at the perennial issue: separate checking accounts, or keep them joint? I disagree with his conclusion…
- No Credit Needed writes about giving yourself a pretend pay cut.
- Trent explains why he’s trying not to buy things for himself. He feels that buying things is selling his future, one day at a time.
- Finally, Jim has nine tips for saving on gas.
Coming up at Get Rich Slowly next week: Blog Action Day, a guest post from the author of Debt is Slavery, and a series of giveaways to celebrate the 18-month anniversary of this site!
I’d be interested to know a little more why you disagree.
I admit that we haven’t tried separating accounts, and we (my wife and I) haven’t had substantial monies in separate accounts since we’ve been married.
I’m also interested in why you disagree.
I view it in two ways. One responder suggested they could not see sharing their finances with someone in that way. You’re married, it really shouldn’t be a huge trusting sacrifice to share money with the person you pledged your life too. Then again we do have a rather cavalier approach to marriage in our society.
That said being willing and actually doing it are two different things. Right now I share an account with my wife because she doesn’t work. I handle all deposits and bills and give her what basically amounts to an allowance. When she goes back I intend to have her set up her own account and contribute half of all monthly expenses and savings to a joint account. She can then feel free to spend or save her remaining money.
While we are on the same page as far as savings goals etc she hasn’t had her “own” money in 4 years. There should be times where she can just go spend money with out having to ask me if we have enough in the bank.
Mostly I disagree because I think there are a lot of subtle issues involved with the decisions whether or not to combine finances or keep them separate. I don’t think there’s any one right answer. I think that couples need to make a decision based on how their relationship works, not on what some book or blog tells them to do.
I’ve covered this subject at GRS several times in the past, most notably in Which should you choose: Joint or separate finances?
I fully agree with you everyone situaution is different. I still feel anyone who is against it with out even considering it might want to reassess their marriage.
It’s kind of weird that people can trust their spouse with every other aspect of marriage but their finances.
They can trust their spouse with sexual issues, psychological issues, etc., but their spouse would have to pry their debit card from their dead, cold, rigid fingers to make a withdrawal from the ATM.
I will never do anything but a joint account because I am married. We’re in this together, for good or bad, better or worse.