Contains critical measures to take for a harmonious and stress free management of bank accounts for married couples. Includes what to avoid and how to make your business finances smooth. For more information read this article http://www.newhorizon.org/credit-info/keeping-separate-banks-accounts-when-married/ For more personal finance tips visit our website http://www.newhorizon.org

2. Money is one of the leading factors in arguments within a
relationship, and a lot of times it can even lead to divorce. It's
important that the money you share with others is managed
correctly, otherwise your hard work and determination can
easily go to ruin simply because of bad spending. As long as
both members are able to contribute an even percentage,
based on how much each one makes, there shouldn't be any
huge problems.

3. The key is communication and planning. There are a ton of
good reasons to keep separate bank accounts even after
getting together with the love of your life. It may seem like
you should just pool together your money, but there could
be huge consequences.

4. The Poor Spender
Hopefully, you and your spouse are both good at keeping your
spending under control. But sometimes, a few too many drinks
at the bar or a bad shopping day can leave a bank account nearly
exhausted, especially for young couples that aren't established
in their careers yet.
In this case, if you're not the offender, you can see
why it makes sense to have your own account.
Letting your spouse spend the money you've
earned and expect to pay rent or other bills with is
a fast way to break apart a relationship. You don't
want to play mother/father, but even if you have
separate accounts, you need to hold them
accountable.

5. There is especially a problem if you happen to have good credit
even if your spouse doesn’t. Their horrible spending habits can
lead to you paying late on a car payment, house payment, or
credit card, which can damage your credit score that you've so
meticulously kept thriving and nurtured. It's a lot easier
dropping your credit score than getting it back to good
standings, and having a joint bank account might make this
something you can't control.

6. Try to Avoid Heated Arguments, but Don't
Wait to Split Accounts
A large issue is lack of communication. You don't want to tell your husband
or wife they can't spend at all, but not putting your foot down can be an issue.
If they want to have a joint bank account or want to refuse going into separate
accounts, you'll have to be honest with them. This doesn't mean screaming,
blaming, and threatening to bludgeon them (even when it might feel like the
thing to do). Instead, you'll need to break it down to them that 1.) If they
can't manage credit card spending, then you rather keep the money you
earn separate. 2.) Their actions can hurt your credit score and make you
late on payments. Lastly, explain that you need to work on your finances
together, even with separate bank accounts.

7. The Equal Split
As I just mentioned, it's important to work on finances together,
especially if one member is not as good at handling money. In
some cases, a couple needs to hold each other accountable, but
if both members are able to contribute an equal amount (either
in actual amounts or percentages based on what's earned) then
the other really can't be too upset about having a separate bank
account and limiting their spending to make sure everything is
getting paid off. Equally contributing is important, otherwise
resentment and other issues may arise.

8. When you don't have an endless supply of money, seriously
consider keeping your finances somewhat separated, but don't
keep things from your partner. You're still in this financial
situation together, and both parties need to agree on that!

9. www.NewHorizon.org
@ NewHorizonOrg
/user/CreditRepairCoach