Joint & Separate spending accounts are great! Alongside joint expense planning. I love it! Budgeting is my favorite thing to do and planning major expenses for 2-3 years
This is exactly the type of content I was looking for to share with my partner! Thank you so much for taking the time to make a video that was detailed, but also very ‘to the point’. Much love guys. ❤
Currently my boyfriend and I do a 50/50 split into a joint account for everything but cars, debt, and spending. We save towards the same goals but I save in cash and he is completely a card user. So far its working for us but we love revisiting plans often (actually right before each paycheck lol)
Shared finances because I have a team mindset. I want us both to share similar goals so that we can build a stronger relationship. It’s just my idea of team building
Skilled Finances Jewels Thank you for airing out options for couples finances. Conversations is the beginning of all things, there is no teamwork without communication. I loved the putting all incomes together, it really matches the declaration of marriage: two shall become one, they are no longer two but one. Money shouldn’t separate us. Thank you our SFJewels ❤
This is a great video!! Thanks for this. My partner and I are planning to stay together in about a year, we have been together for 3 years but are young and still have so much to learn about ourselves and each other. I think that I would initially like to keep things separate and just work together to make sure we are paying our bills and then set aside a budget for saving for a home together that way we can both learn as we go.
My boyfriend and I have been doing the 50/50 split for about a year now, but I just got a job where I make a lot more than him. Before now I'd been making less, but because my parents always had a " joint money mindset" as you said, I didn't mind so much. But now that I'm making quite a bit more than him maybe the income-driven split would work better for us, especially since we are not ready to get a joint bank account yet.
This is common! If you haven't yet, check out our free couples budgeting guide which explains how to do the income split budget. skilledfinances.com/freecouplesbudget
Thank you for this great advice. This will only work if your partner is a normal human being. My partner is not even a person, so not sure this would work. I´ll give it a go anyway.
Combining short term expenditures is all good. But long term thinking such as retirement planning. Investing planning. Its very hard when your other half has no clue and even worse no interest. How can you plan when mentally you are on different spectrums of knowledge.
Lord Jesus! Yes! It’s really sad that you can’t have a mature discussion with your spouse who has forgotten when you carried the load of the bills previously and now that they’re finances have improved significantly, they’ve forgotten how to be a mature provider. I’m asking God to fix his mindset and remember when he had to rely on someone to carry his half of the load
The beauty with Couples Finances is that there are various ways to manage finances. If the 50/50 split works, then that's great. If it doesn't then the couple can discuss other ways in which they can manage their money and go with what works for their relationship.
I have a question: I moved in with my partner. He did not want to redecorate from the previous owners of this rental home. As joint rental owner I have to pay single-handedly for decorating to a 2000 style instead of 1975. Next to this he wants to go 50/50 if we go out. I make suggestions to pay for the meal and the public transport. This makes the 50/50 rule slightly change to 48/52. He has a problem with the cost of the bus. I am not forced to pay for all to avoid his complaining. He is turning into a complaining hormit. What tips have you for me?
Well, as for the decoration problem, if you plan to not live long in that home maybe really no need to spend money on it? Or to do the very critical parts of home only. About money problem lets go back to our roots... So men were the hunters and the providers of home ALWAYS until the last decade or two when moral and family values got devastated in society.... and that's the way a real man should think! Once Steve Harvey, reacting to a man's wish to split the meal on the first date, told: "If the man can't provide you with a plate of meal on the first date then how you expect that he'll provide for a family?" And for me its not about the first date only... A man should be caring, expecially emotionally, with open heart and packet, considering the woman is wise, you have same life and family values and goals and treatment to money... You subconciously offered him to be the "provider" of the home with 48/52 but he refused to be, prefering to be cheap but wealthy for just 2%! So its better to gain self confidence and leave, while you're young and no children. He will always find something to complain about.
@@mariayan9553 oooohhh weeeee you broke that down so well! Hope she won't allow the so called love bug delusion to cloud her to stay with a mf Dusty! There is real men who comprehend the blessing in providing and taking car of his woman!!
The second style is called the Income Split Style and it focuses on splitting shared expenses (for example rent/mortgage, utilities, groceries - basically any expenses or bills that are shared)based on how much each person earns rather than 50/50. For example let’s say the total shared expenses came up to 2000. One person in the relationship earns 2500 and the other earns 1500, the total household income would be 4000. Person A earns 63% of the total income and Person B earns 37%. The shared expenses would then be split according to those percentages. We do have a Couples Money Course which breaks this down. It can be found at course.skilledfinances.com
@@wealthwithlove I was thinking this is the way that will work for my boyfriend and for me, however, I do not see the 'debts that each one has compared to the other considered as a factor. Let's say an example: Person A makes 10K a month and person B makes 4K a month. But person A has student loans and debts that are only from person A and person B is almost debt-free. so it would be fair to consider person A income before deducting their personal debts correct? In simple words: before adding up the incomes we have to subtract the personal debts of each one correct? then get the percentage and then get how much each one will pay into the common expenses (rent, utilities, groceries etc) correct?
@@wealthwithloveok soo its almost the 50/50 mindset but then adjusted to how much you earn? My boy friend wants to pay 65 % and wants me to do 35% but its does not really feel as the provider mindset, we split the groceries but when we go out he pays the most. In the household i do the most. Maybe this is all good, i dunno.
The greatest empowerment every woman should have is being empowered financially and mentally. This way you will be at the top of your food chain. Being finally free is one thing every woman should be looking after. I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this.
Hello Dear, I read your input from this channel and I must tell you, you inspire me. I'm nearly 40 just started earning money and trying to clean up my shit. I want to start investing in financial market but don't know where and how to start. Pls can you direct me what to read to gain knowledge, videos or lessons to watch. Plsss. Thank you
My girlfriend earns 3x times my salary... we do a 50/50 splits because it's fair, but it drains me financially, and I end up living cheque to cheque trying to keeping up. If i was earning more as a man, it would've been easier to take care of her & things, but in reality she earns more. So it would feel weird to ask her as woman to handle little more things. I wonder how couples in my situation handle things
Gender stereotypes are very ingrained since we grow up, It's not our fault how we were raised but after adulthood, you can decide to change the mindset or not... you are both ''man'' huMAN. You got this dude :)
Express this to her and see what she says. If you plan on being married you're going to have to learn how to have hard conversations. To avoid resentment over time please talk to her. If she loves you she would hate to know you're in anguish about this.
The key question is do you have children. If you are out trying to match her income now your child might get neglected. If you working a regular 60 hours then you add 20 more you stacking lot but what about your family life? Here is another solution. You pay based on a percentage but the man pays the largest and most critical bills. I've seen several couples do this and it has worked.
I have a question, when you go give a birthd or you got sick, going to school fr a year does this mean your partner gonna own you money . So the bills that you didn't pay , like he gonna pay everything and after you will paye him back 😂 "without interest" he said thank god hhh for me he is my husband .
It's important for Couples who don't combine their finances to sit down and have an honest and frank discussion about how everything will work financially if for example they have a baby or one of them gets sick or one of them decides to go to school as you mentioned above. It's important to be on the same page about this.
@@wealthwithloveYou need to mention when a partner deceives and the partner finds out bills not being paid until the bailiffs comes knocking on the door.
If you have debt they have to clear beford marriage...all said and done it will bring in resentment after marriage for sure. ...our money not going to work out if hidden before marriage from either partner whoever debt has to be paid from debt partner period .....people keep.finances separte for IT purposes not bec they dont wsnt to share their earning with partner...
7:18 this doesn't work lol especially if the person paying the least of the expenses are more free to splurge than the one covering the larger portion of bills.
We’ve actually come across different couples who use all different methods mentioned in this video. What we’ve come to understand is that what may work for one couple may not necessarily work for another but what matters is each couple being on the same page about what works for them.
If y'all know yourselves, and you know you both aren't traditional or want to adhere to traditional gender roles, be modern w the relationship via splitting bills and house duties, which tbh can be an ethical means to going about things. Now, in saying all that...umm, yea, most women don't give a shit about rationals or ethics when their emotions are involved. By the looks of the thumbnail for this video (that I'd be willing to bet she made lol), mate she doesn't look too happy about this setup. - Dude in the comments
We actually have an our 'money mindset' so we view our money as ours rather than his and hers. As a married couple this point of view when it comes to money is important to us because we are one and are very big on working together as a team when it comes to everything in our relationship.
@@wealthwithlove Today, many women just expect a man to pay all the bills. Additionally, a growing number of women also do not want to be doing any of the house duties. I.e they want unilateral traditionalisms. If you guys can make your setup work for you kudos to you.
What if you and your partner earn the same amount of money and your expenses are the combination of both the incomes but your partner tells you to be a man and take the responsibility of everything and the baby. Her savings are more than yours but should you throw all your savings in and try to be a man and take full responsibility for everything?
😂lol she don't look too happy about sharing or splitting! 50/50 Sounds like a roommate to me! 😢 I'll pass on that😅 I just divorced a so called 50/50 roommate! Ladies don't fall for the hype! ALLOW THE MAN TO BE A MAN! GET YOUR MONEY UP FELLAS!!!😅
50/50 roommate who asked who to marry ??? Maybe 80/20 don’t give the man the opportunity to have a luxury expense side dish , not my type of method I’ll stay single or like you mention have a roommate thanks Sprinkle Sprinkle Sheraseven method.
80/20…? Basically you’re saying women should keep their money and a man has nothing? Then some women don’t want to follow the man and yell their independent but want a man to pay their bills and now days pay for the expenses of another man’s kids 🤔
Check out our FREE Couples Budgeting Guide to get you started :) skilledfinances.com/freecouplesbudget
Joint & Separate spending accounts are great! Alongside joint expense planning. I love it! Budgeting is my favorite thing to do and planning major expenses for 2-3 years
This is exactly the type of content I was looking for to share with my partner! Thank you so much for taking the time to make a video that was detailed, but also very ‘to the point’. Much love guys. ❤
I liked the way you explained it and how you made sure to highlight the importance of communication for a healthy relationship. Thank you.
Currently my boyfriend and I do a 50/50 split into a joint account for everything but cars, debt, and spending. We save towards the same goals but I save in cash and he is completely a card user. So far its working for us but we love revisiting plans often (actually right before each paycheck lol)
Shared finances because I have a team mindset. I want us both to share similar goals so that we can build a stronger relationship. It’s just my idea of team building
This is very insightful! My parents also combine entire money but they communicate about it alot.
Skilled Finances Jewels
Thank you for airing out options for couples finances. Conversations is the beginning of all things, there is no teamwork without communication. I loved the putting all incomes together, it really matches the declaration of marriage: two shall become one, they are no longer two but one. Money shouldn’t separate us. Thank you our SFJewels ❤
This is a great video!! Thanks for this. My partner and I are planning to stay together in about a year, we have been together for 3 years but are young and still have so much to learn about ourselves and each other. I think that I would initially like to keep things separate and just work together to make sure we are paying our bills and then set aside a budget for saving for a home together that way we can both learn as we go.
Sounds liek a good plan to start with :)!
Thank you! So helpful - my partner and I do this but I love how clearly you lay it out so I can help ppl in relationships x
My boyfriend and I have been doing the 50/50 split for about a year now, but I just got a job where I make a lot more than him. Before now I'd been making less, but because my parents always had a " joint money mindset" as you said, I didn't mind so much. But now that I'm making quite a bit more than him maybe the income-driven split would work better for us, especially since we are not ready to get a joint bank account yet.
This is common! If you haven't yet, check out our free couples budgeting guide which explains how to do the income split budget. skilledfinances.com/freecouplesbudget
Hopefully you keep that same energy if he ever makes significantly more than you.
@@user-no5vv4bb6e Why? He is the provider! When she have the children and etc...why should she keep the same energy! Communication is key bro!
Thanks for the advice, my partner and I will be taking this into account 🙏🏾 looking forward to future videos!
Thank you for this great advice. This will only work if your partner is a normal human being. My partner is not even a person, so not sure this would work. I´ll give it a go anyway.
Hopefully it’ll help
Combining short term expenditures is all good. But long term thinking such as retirement planning. Investing planning. Its very hard when your other half has no clue and even worse no interest. How can you plan when mentally you are on different spectrums of knowledge.
My same question ❤
Lord Jesus! Yes! It’s really sad that you can’t have a mature discussion with your spouse who has forgotten when you carried the load of the bills previously and now that they’re finances have improved significantly, they’ve forgotten how to be a mature provider. I’m asking God to fix his mindset and remember when he had to rely on someone to carry his half of the load
Talk about splitting chores. Is it 50/50 also?
The beauty with Couples Finances is that there are various ways to manage finances. If the 50/50 split works, then that's great. If it doesn't then the couple can discuss other ways in which they can manage their money and go with what works for their relationship.
The woman does house chores and the men works and brings in money
i am happy and willing to see more of your money advice videos. thanks.
Thank you, that really encourages us to keep going.
Thank you. Great advice 😊
Very detailed. Thank you
I have a question: I moved in with my partner. He did not want to redecorate from the previous owners of this rental home. As joint rental owner I have to pay single-handedly for decorating to a 2000 style instead of 1975. Next to this he wants to go 50/50 if we go out. I make suggestions to pay for the meal and the public transport. This makes the 50/50 rule slightly change to 48/52. He has a problem with the cost of the bus. I am not forced to pay for all to avoid his complaining. He is turning into a complaining hormit. What tips have you for me?
Leave!
Well, as for the decoration problem, if you plan to not live long in that home maybe really no need to spend money on it? Or to do the very critical parts of home only.
About money problem lets go back to our roots... So men were the hunters and the providers of home ALWAYS until the last decade or two when moral and family values got devastated in society....
and that's the way a real man should think!
Once Steve Harvey, reacting to a man's wish to split the meal on the first date, told: "If the man can't provide you with a plate of meal on the first date then how you expect that he'll provide for a family?" And for me its not about the first date only...
A man should be caring, expecially emotionally, with open heart and packet, considering the woman is wise, you have same life and family values and goals and treatment to money...
You subconciously offered him to be the "provider" of the home with 48/52 but he refused to be, prefering to be cheap but wealthy for just 2%!
So its better to gain self confidence and leave, while you're young and no children. He will always find something to complain about.
@@mariayan9553 oooohhh weeeee you broke that down so well! Hope she won't allow the so called love bug delusion to cloud her to stay with a mf Dusty! There is real men who comprehend the blessing in providing and taking car of his woman!!
Thank you for this video.
With the joint money mindset, does that mean that every income should be channeled into the joint account?
I don’t understand the second way of splitting the income. Can you elaborate? Do we divide our income with the total expenses or our own expenses?
The second style is called the Income Split Style and it focuses on splitting shared expenses (for example rent/mortgage, utilities, groceries - basically any expenses or bills that are shared)based on how much each person earns rather than 50/50.
For example let’s say the total shared expenses came up to 2000. One person in the relationship earns 2500 and the other earns 1500, the total household income would be 4000. Person A earns 63% of the total income and Person B earns 37%. The shared expenses would then be split according to those percentages.
We do have a Couples Money Course which breaks this down. It can be found at course.skilledfinances.com
@@wealthwithlove I was thinking this is the way that will work for my boyfriend and for me, however, I do not see the 'debts that each one has compared to the other considered as a factor. Let's say an example: Person A makes 10K a month and person B makes 4K a month. But person A has student loans and debts that are only from person A and person B is almost debt-free. so it would be fair to consider person A income before deducting their personal debts correct? In simple words: before adding up the incomes we have to subtract the personal debts of each one correct? then get the percentage and then get how much each one will pay into the common expenses (rent, utilities, groceries etc) correct?
@@wealthwithloveok soo its almost the 50/50 mindset but then adjusted to how much you earn? My boy friend wants to pay 65 % and wants me to do 35% but its does not really feel as the provider mindset, we split the groceries but when we go out he pays the most. In the household i do the most. Maybe this is all good, i dunno.
The greatest empowerment every woman should have is being empowered financially and mentally. This way you will be at the top of your food chain. Being finally free is one thing every woman should be looking after. I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing!
Very inspiring! I love this.
Hello Dear, I read your input from this channel and I must tell you, you inspire me. I'm nearly 40 just started earning money and trying to clean up my shit. I want to start investing in financial market but don't know where and how to start. Pls can you direct me what to read to gain knowledge, videos or lessons to watch. Plsss. Thank you
Don't need to tell you partner how much money do you earn and how much money it's left on the personal banking amount.
My girlfriend earns 3x times my salary... we do a 50/50 splits because it's fair, but it drains me financially, and I end up living cheque to cheque trying to keeping up. If i was earning more as a man, it would've been easier to take care of her & things, but in reality she earns more. So it would feel weird to ask her as woman to handle little more things. I wonder how couples in my situation handle things
Gender stereotypes are very ingrained since we grow up, It's not our fault how we were raised but after adulthood, you can decide to change the mindset or not... you are both ''man'' huMAN. You got this dude :)
You can't afford 50/50. Simple as that!
Express this to her and see what she says. If you plan on being married you're going to have to learn how to have hard conversations. To avoid resentment over time please talk to her. If she loves you she would hate to know you're in anguish about this.
Get your mf money up bro! Wtf😂
The key question is do you have children. If you are out trying to match her income now your child might get neglected. If you working a regular 60 hours then you add 20 more you stacking lot but what about your family life?
Here is another solution. You pay based on a percentage but the man pays the largest and most critical bills. I've seen several couples do this and it has worked.
Very good advice
Split shared household expenses by percentage of total income is fair!
What if she makes significantly more?
Thank you 💘
Great video 🥰
Thank youu!🙏🏻
What in case of divorce if we spend like this ? She is going to claim 50 to 70 prevent
I have a question, when you go give a birthd or you got sick, going to school fr a year does this mean your partner gonna own you money . So the bills that you didn't pay , like he gonna pay everything and after you will paye him back 😂 "without interest" he said thank god hhh for me he is my husband .
It's important for Couples who don't combine their finances to sit down and have an honest and frank discussion about how everything will work financially if for example they have a baby or one of them gets sick or one of them decides to go to school as you mentioned above. It's important to be on the same page about this.
@@wealthwithloveYou need to mention when a partner deceives and the partner finds out bills not being paid until the bailiffs comes knocking on the door.
If you have debt they have to clear beford marriage...all said and done it will bring in resentment after marriage for sure. ...our money not going to work out if hidden before marriage from either partner whoever debt has to be paid from debt partner period .....people keep.finances separte for IT purposes not bec they dont wsnt to share their earning with partner...
New subscribe here ❤❤
7:18 this doesn't work lol especially if the person paying the least of the expenses are more free to splurge than the one covering the larger portion of bills.
We’ve actually come across different couples who use all different methods mentioned in this video. What we’ve come to understand is that what may work for one couple may not necessarily work for another but what matters is each couple being on the same page about what works for them.
If y'all know yourselves, and you know you both aren't traditional or want to adhere to traditional gender roles, be modern w the relationship via splitting bills and house duties, which tbh can be an ethical means to going about things.
Now, in saying all that...umm, yea, most women don't give a shit about rationals or ethics when their emotions are involved.
By the looks of the thumbnail for this video (that I'd be willing to bet she made lol), mate she doesn't look too happy about this setup.
- Dude in the comments
We actually have an our 'money mindset' so we view our money as ours rather than his and hers. As a married couple this point of view when it comes to money is important to us because we are one and are very big on working together as a team when it comes to everything in our relationship.
@@wealthwithlove Today, many women just expect a man to pay all the bills. Additionally, a growing number of women also do not want to be doing any of the house duties. I.e they want unilateral traditionalisms. If you guys can make your setup work for you kudos to you.
What if you and your partner earn the same amount of money and your expenses are the combination of both the incomes but your partner tells you to be a man and take the responsibility of everything and the baby. Her savings are more than yours but should you throw all your savings in and try to be a man and take full responsibility for everything?
Partnership is not designed for 1 to lack and the other prosper. It's a shared responsibility.
Step 1.
Dont share finances with someone you need to split the bill with.
Step 2. Not necessary. Follow step one
😂lol she don't look too happy about sharing or splitting! 50/50 Sounds like a roommate to me! 😢 I'll pass on that😅 I just divorced a so called 50/50 roommate! Ladies don't fall for the hype! ALLOW THE MAN TO BE A MAN! GET YOUR MONEY UP FELLAS!!!😅
50/50 roommate who asked who to marry ??? Maybe 80/20 don’t give the man the opportunity to have a luxury expense side dish , not my type of method I’ll stay single or like you mention have a roommate thanks Sprinkle Sprinkle Sheraseven method.
80/20…? Basically you’re saying women should keep their money and a man has nothing? Then some women don’t want to follow the man and yell their independent but want a man to pay their bills and now days pay for the expenses of another man’s kids 🤔
Shut the hell up
It's none of your business what couple decide to do with their finances. Worry about you and your non existing husband
And sprinkle sprinkle or drizzle drizzle is toxic af thinking in a relationship.
@@GuitarHalo2amen.