"we" ? Why we ? How would you have done if you were single, once you've paid the bills ? Just do the same here. If you can't spare, don't spare, but keep your independancies. This is the fundamental message here.
@@jackieeeap2 I was just referring to the women on stage from the show “real housewives”. I feel like it is just advise but the way there were listening in that tea cup position, they were really learning something that day 😂
It’s actually 3 ways for a single person.. Keep in mind that you both already have individual bank accounts before you got married so all that’s left is an account to sort out the bills and an account for saving.
This is only 3 and also literally should be how everyone budgets their money. Set off the main money for all your bills, take a percentage of your choice from the remainder for savings, rest can go to basic spending on whatever. 3 step budgeting simple as pie.
If you’re in your 20s, buy a small fixer upper house in a fabulous neighborhood, invest, double or triple down on your savings, and you’ll be financially independent by age 50. You will see your peers continue to struggle but you will have set yourself up to also take the hits life will throw at you along the way. If you marry when you’re older, get a bulletproof prenuptial agreement to secure your house and your savings to the date of marriage, and then you can be secure that no one is marrying you for your assets. That way if the marriage fails (about 6 out of 10 will), you’ll have narrowed the battle to assets earned inside the marriage and your divorce attorney won’t be able to gouge you since you will have already stated the post-marital split in your agreement. 🤷🏾♀️
You need your own account. Nothing in this life is permanent. Life and death and divorce happens. We don't plan it. But what if she or he leaves or dies and they clean the account out or you can't get a signature
This only works if u both make the same amount of money or else ur paying the majority of the bills and also paying her expenses now that she has the power she might spend all ur money and if u have control then making so many accounts doesn't make sense
Me and my husband do this. I am actually a stay at home mom so we have one income. We have one that is for paying bills. Left over we split into our own account. And depending how much we got we put into savings. We don’t have much but it’s still something. It keeps us accountable and when ever we buy things for the kids we both pitch in. We have 5 and soon to be 6 kids. It works.
You have no job and very little money. But you have five kids and another one on the way six kids no money. It's time to start going to the movies or investing in condoms!! You shouldn't be having such a large family when you can't afford it that's terrible
@@spilledsoju03 they have 5-6 kids. Sometimes one parent staying home and not working is just as necessary as being the one that goes to a different job every day. If you think parenting 5 kids isn’t a very difficult you’re delusional, I’d take working 10+ hours a day labor.
@@dietznuts4014 yeah but you don’t do the fact in this situation is he funds her life. No one’s saying that situation isn’t agreeable or disagreeable for them, it’s just what the truth is
@@spilledsoju03 he's saying that you should have seperate accounts so you can do what you want and have independence. He didn't specify where the funds should come from. If there's only one income that's fine. They might make in one income the equivalent of what you make in two
My boyfriend and I have had exactly this ever since we moved in toghether (10 years ago). Only difference: our paychecks come into our personal accounts, and we both transfer an x amount to our joint account for bills and groceries. We also have a joint savings account for holidays and emergencies, and we both have our own personal savings too. Feels great. It gives both security and independance.
My hubby and I both have a set amount of money that is ours to spend each month w/o asking, but the transactions come out of the joint account. We have no secrets from one another, but I do think having our own “spending money” is a great way to manage money as a married couple.
Problem is that if you want to buy something big, that's not gonna fit in your monthly allowed spending. We do it as explained here for years, and works really well. If i wanna spend 5000 dollars on some huge home theater i can just do that cause i saved that with my own money. No questions asked except: Can i come too?
You guys are so uneducated about money that you believe that nonesense… If you both work, you should be perfectly able to do so. What you find difficult is to maintain the quality of life that you have, buying whatever you want, new phone? New car? New anything AND be able to have multiple bank accounts. You can’t, except if you make enough money. Otherwise, you have to learn how fiances work and how to spend less on futile things.
I have 4 bank accounts on my own. One I get paid into, one I pay bills out of, one I carry the card for, and one to save a little each month for xmas and holidays. That way I can never unintentionally spend more on one thing than I planned to. I also have a long-term saving account and a pension but I count them as investments rather than bank accounts.
I am Jamaican and Dominican and single, as young girl my parents teach me to have 1 account for savings, 2nd for emergency, 3rd for checking to pay bills such as light, mortgage ect. I started the 4th savings so that if something goes wrong with the house I have some help to fix it, when I get paid I have 3% to my 401k , $50 each to the other 3 accounts, and for the 4th /$20 to $30 for fixing the home. It doesn't take a lot to save you have to make sacrifices, I dont buy alot of fast food I have nice things but I save towards it. My cousin has a $800 car payment it doesn't include insurance and live with her 3 kinds from 3 different dads she is a single parent. You have to make certain decisions for the future of your well being. She lost her job and the car, she is using one of my cars and she lives with me so she can get on her feet. At your job work overtime if available, I work 2 jobs for 4 years to build up my savings. Once you reach 25 years old you must work on building up yourself no one is going to help you. I don't judge what you do for a living but save some of the money. Don't live above your means. Just saying?
Finally someone gets it. I live by all of those things and get called a tightwad and told I never do things with my S/O but guess what? All bills are taken care of and in the event of an emergency, I can cover it.
OMG! WOW! Hell yeah! This is beautiful advice. Partnership dasn't mean all into one. Share/save the two and separate the last two cards for individuality. Yes! We need more advice and practical stuff around like this. Teach your kids this sort of things. Love this! ♥ 💜 💛
Wow, my husband and I did this the second we got married. I thought he would be against it when I brought it up but he wasn’t. He thought it was a great idea. I’m glad we’re not the only ones of this mindset.
It is great because you dont have anyone overdrafting because they didnt check with their spouse. You talk over the bills. You never take money out of savings except for emergencies. Then you each have your own petty funds account to keep track of without worrying about someone else's withdrawals.
I'm mid 30s, single, with a decent paying job. I started doing this 3 years ago. 1 account has all my bills on autopay, and that's where all my money goes into when my check deposits. The 2nd account is a savings account with a better than average rate, which I move money to twice a month, the Monday after payday. The 3rd account I put money in every month on the 1st of the month, and that's the money I use for when I wanna buy lunch or dinner, instead of cooking at home, or if I wanna go to the movies, etc. Has really changed the way I spend money.
you should consider investing part of the money in that savings account in something safe like the S&P 500. Even with a good rate, you’re still losing money due to inflation, but the S&P averages 7+% annual return.
@@iancampbell1911 Lol 7% is a joke. Create your own business. Putting your own money to work will not only produce more for you but teach you things too. Letting other people put your money to work for them only teaches codependency.
I'd also suggest putting some of that savings into bitcoin. It's high risk but high reward. Its averaged 100% pa since 20009. It'll be a million plus for one btc within 10 years.
@@JorgeChavez-du5vm I don't do imaginary investments my friend, I only do reality. I wouldn't be suggesting it if it wasn't worth it's while. I get that old school uneducated (on btc) people like you don't get it or understand it, that's fine but you really shouldn't comment on things you know nothing about, it just makes you look stupid.
My husband and I have separate and joint accounts and everyone I tell this to looks at me like I'm crazy. Foreign concept to some people we have been doing this for over 10 years. I never thought about it to be honest, when we met I had my own and he had his own, we just kept them, added each others names to them in case of emergency and then opened two different types of savings account. I love it.
before my husband and I divorced 12 years ago we each had our own separate individual accounts with our credit union and we had a joint accountl to take care of our household finances. so it does work. a lot of people think that it might not be a great idea to have your own separate accounts because everything is supposed to be together, as two becomes one... BUT in this day and age, a lot of people forget the old school adage: LOVE is LOVE, BUT BUSINESS is BUSINESS. and running a HOUSEHOLD is like running a BUSINESS. IT is a personal FAMILIAL CORPORATION. even BUSINESS LAW would support that. BUT you and your husband are DOING the right thing, and you already know why they thought it was crazy, because they may not have even thought about it LOL.
@ladiifourtwnty cookies just make sure never to make a joke. I repeated a joke to my wife before we got married. Forget what comedian made the joke. I changed it alittle and said " your money is your money and my money is your money" his joke was that's what his wife thought. Well 12yrs later wife with money arguments she still repeats it to me saying her and my money is all hers. She claims I wasn't joking as if I wouldn't know. For 12 yrs she has yet to help with bills. She didn't even have taxes taken from her pay so tax time I owed. For last 2 yrs she haven't worked but still keeps the 5k+ returns. I pay everything take her and our 2 kids out to eat weekly and pay for vacations and I buy and wrap our kids 🎁. She doesn't even remember my bd which is 9 days after hers. My marriage is so weird
Best thing ever! Been married for 24 years. We started with a joint account and he would over spend. We separated our accounts and the bills. Best thing ever! We would probably be divorced if we hadn’t.
@@dragonext2001 Oh my. Sorry, i feel bad on that one. Well I am old school as far it is alright for the woman to stay home and take care of the kids and house. But I am a little modern in that since I work and earn money then it is ours. We just keep it separate. My husband is old school as well so he also pays for everything and doesn't mind. I have to sneak and pay a bill before him if I want to do that. But to even it out, I buy all the groceries, household needs and wants, all kids stuff, clothing for house, and all of Christmas (except mine of course). It works out. I'm still contributing just not paying the mortgage, power, etc. I do not believe at all that a woman keeps 100% of her money and has the right to spend his. Separate bank accounts yes, but all the money is still ours. If there is an emergency it all will come together to handle it.
@ladiifourtwnty cookies Nope all the money is ours. That is an entitled mentality to have. Both must contribute in some way. If she doesn't work then she should be making sure he doesn't have to do anything when he gets home or is off. Except of course things she can't do. But my sons tell me i'm a unicorn that not many women think the way I do. So who knows, LOL
In india it's same but in rural area things go well in with traditional understanding But in newly urbanised areas with rapidly changing lifestyle problems are arising between couple as women want more freedom and also don't want to drop the mindset of financial dependency
My husband and I have two joint accounts, but we keep our money separate. We can both access each other’s money if we need to- but our own money goes in our own accounts. He pays the big bills, I pay for groceries, travel and household necessities. 👐🏽
@@dickhitswater4836 those are not just a few small ones doofus. Groceries, travel, and household items can often come out to cost more than other bills in the end, I know for a fact.
@@irisbelle8 travel is a luxury only privileged enjoy so easy with the doofus stuff, there’s no need to be rude. luxuries are what they are and when you are privileged enough to enjoy them appreciate them for what they are because many don’t ever experience it.
@@dickhitswater4836 She's paying for vacations, That's Hardly EVER a SMALL AMOUNT of money! (Unless you vacationed like we did for about 10 years- bought a used, large camper, found our favorite campgrounds and felt we had a vacation every wkend! Those are such great memories) But, maybe in their situation, It was her way of making up for him paying the "big bills". Usually It all evens out in the end, Her hubby doesn't seem to mind that arrangement at all! IF we had the luxury to go on extravagant vacations every year, he'd gladly pay the "larger bills" if I'd pay for a vacation every year. Even back when we were young tho, raising our boys, he paid for most of everything, because from his experience, OTJ training & then college after Vietnam was over, the Air Force paid him to go to college. His skilled trade in the Air Force, easily transferred over to a Civilian job, and being a Veteran, AND an Electrical Engineer, there was NO way I could make half of what he made with a career in Healthcare. But it was more important to him though, that I stayed local, so IF our boys needed anything, I was always close enough to take care of them. Plus I was always the one that got them to baseball & football practice, guitar & drum lessons, while he traveled out of town most of the time. I could've drove to a bigger town, and made more money, but he said he preferred it this way, he felt I had job security, I carried the insurance on all of us, and then it was pretty convenient that I could arrange my schedule for breaks out of school, sick days, and like I said could get them to whatever they had going on after school, then get them home, showers, fix dinner, make sure they got their homework was done, and that I laundry all done. kept up on ALL the housework chores. Had I worked out of town, I couldn't have done both. Me beings with our boys was much more important to him, than me making more money than I did. Now, with him retired, and myself becoming disabled, one boy out on his own, our youngest tragically being called to his Heavenly home, neither of us have any regrets how we chose the way to raise our family.... but we sure miss our babyboy. Don't ever take your loved ones- especially your parents, your spouse & your kids for granted. Tomorrow isn't promised to any of us. Bless You All.
EXACTLY!!!! That's what my wife and I have!!!😊 We have been married for 5 years, so, we are still newlyweds. Right now, my wife is layed off from her job and has decided to go back to college. Until then, I have been giving her a 3rd of my paycheck as a share. That way, she still has money for her personal needs. She's so wonderful that she still contributes to the other needs of our home and I pay all of the utilities! God has blessed both of us and me, especially, with her!! 🥰 I encourage her every day to be strong and positive because we're a team, love each other, and together, we can do almost anything!!😊 Steve's suggestion is excellent AND it works if it can be applied to your marital situation.
I had people say such terrible things about my comment but I don’t know I don’t see it as my husband is “funding” me as they say. You clearly have an open honest relationship and people are stunned it’s still is a thing they can find in life these days. I supported my husband at one point but people don’t care. They just see and wife at home as and easy way out in life. You and your wife sound so wonderful! It’s beautiful :)
@@We_in_Miami I'm sorry to hear that, but you have to plan for the future BEFORE you get married! It's too late for you now, but, I tell everybody to plan for unexpected events in your life and be especially financially stable to sustain a household if you are considering getting married and having kids and a pet!! That's what I did!!! Some things are out of your control, but having children is NOT one of them!!!!
Or how about every relationship is different and different things work for different people? After 34 years, I'd hope you'd have understood that atleast.
Steve has some of the most helpful stories if you're in his financial position but if you're a regular person very little of his speeches pertain to you
If you’re a millionaire, have a basic job or are on benefits this works. It’s personal financials 101. Even if it’s only $800 a month it’s still how you should be doing it
We're halfway there. We have one checking account for bills, which is always barely enough, and another savings account which is empty. 👍 Yeah! Movin' on up!
Havent been able to work in 5 years because of heart disease. My husband tries hard to support us as best as he can. I dont recieve any benefits from the government or state. The struggle is hard, but we have each other and as long as we can laugh and be together every will be ok.
Amen Angela! You're already much richer than many, MANY of these people in these comments. Your marriage sounds like the way marriage was created to be. Sticking beside each other thru the hardest times of your marriage, standing side by side, 2 people who have become 1, "In sickness and in health, For RICHER OR POORER, For better and for worse, Til death do you part." Our Vows are MUCH MORE important to my husband & I than seperate bank accounts, and how much either of us have to each of our names. We've been doing it this way for 30yrs, as of just in September, so we must be doing something right!! At least for us! Of course we're not millionaires either Angie, SO MAYBE...JUST MAYBE, Money is NOT Everything. Look at the divorce rate among celebrities..... Kinda makes you wonder huh?? Well May God Bless You & Your Hubby, Your Health.... (I'm in same boat as you, and going thru intense grieving as we just lost my Mom 2 months - "OUR MOM"- ago as of tomorrow. It's been HELL. AND, It Brings back ALOT from tragically losing our youngest son, 9yrs ago at only 21 yrs old. We miss them BOTH than more than words can express.) We cannot take our loved ones for granted, especially our children, our spouses, And our parents. Tomorrow is never promised to ANYONE.... AND, Life is TRULY NOT all about money, bank acts etc. Some just have to learn the hard way...😢💔) And also, May God continue blessing your marriage!! Prayers, Joy, Light & Love 🙏💙🦋💙✨️✨️💜✝️💜🙏
Already doing this! 👍🏻 don’t forget the 5th bank account…. Time with your partner. Life is to short to worry to much about the other 4 accounts. You have the 5th, you’ll always be happy!
That’s a good idea. It might eliminate some arguments over money which does cause many hurtful words that you can’t take back no matter how many times you say you’re sorry or told they’re sorry. It’s still in your head.
My wife does not work, been married 17 years, 1 checking, 1 savings, 2 brokerage accounts. Number of account does not determine the life you have. Respect, love, and trust does.
Ours doesn't work this way. We have 2 accounts. One both our checks go into, the other any bonuses and parts of our check go into. We have a hard rule, you don't spend more than 200 dollars without checking in with each other first. It's not permission, it's communication.
I'm single and did this too. Just 3 acc btw... One for the bills and food and gas. One for the future or emergencies and another one for my hobbies and more foods as I am a foodie 😅
I have 3. Saving that had 95% of my earnings saved, checking that gets blown through by the next pay check 🤣 and an account that is connected to my online store, money that goes there never gets touched
That’s exactly what my partner and I have. But our pay checks get paid to our own individual accounts. Bill money gets put in to the joint account. And then we have a savings account that neither of us touch unless necessary. The rest of our money we spend on whatever we want no questions asked
I wish I had done this 29 years ago. I would have been financially prepared for abandonment. Good advice. I will never give control of finances to another person again.
I wish that I had this advice when I got divorced. My EX waited til my health got so bad that I didn't know I was in this world and he cleaned the checking and all the other accounts out . I didn't have anything left.
So is true I’ve been waiting for video like that. I had relationship where I felt like I didn’t have a PARTNER I was just a provider which is not fair for the relationship we were trying to build
What?? Where have you been? My first job bonus went into a new savings account of my own with my name only...only because I don't want to feel like a child, but a adult married mother of 2..
Be sure the one you have a joint account with for the bills don't go and clean the account out, never say nothing to you, and when a bill is needed to get paid, SURPRISE IT'S ALL GONE! Thank you Steve each should have an account of their own, because you both got to have your own life. HAVE AN SAVINGS TOGETHER BUT IT TAKES 2 SIGNATURES TO MOVE IT,. Thank you!
I’ve been married for 17 yrs, we have a joint account and that’s it, it has worked so far, don’t see the point in what he’s saying. Our bills are payed, we have a roof over our heads and a car. The rest of the money we invest. Works pretty good
@@eden3085 easy, we both worked as hard to achieve whatever we have, specially because we had nothing when we got married, so in the eventuality of a divorce it will be a fair 50/50 split. Any more questions?
@@brunodasilva3294 that’s very naïve! My sister was married 35 years and he left her with nothing…. Emptied the accounts etc!,….. also you find out that your wife has been having an affair for the last 5 years…. You won’t want to be handing her 50/50. Your wife loses her job and counts on your earnings for the next 10 years and then asks for a divorce…. There’s no longer 50/50!, you start gambling all the money and 50/50 gone!….. it’s a lot more complicated than you think!…. Just because things are good now!!!….. doesn’t mean they’ll be good forever!….. if you’ve saved up for years and years to buy your ultimate dream sports car costing 63,000 and then your wife suddenly says it’s 50/50 mine! 🤣😂🤣
You’re wife has worked hard and wants to go on an expensive holiday with friends! Technically she has to ask you for permission to use that money!….. a pair of Prada, a new handbag basically you have to have each other’s permission if you wish to buy something of cost for yourself!…. I’m an adult if I’m not going to ask permission to treat myself with my hard earned money!…. I’m putting aside my personal expenses!…. My money! 🤣
Oh and do you both earn the same salary…. If one earns 97,000 per year and the other 15,000 and then get divorced …. Then again one bank account isn’t logical!
It's good advise too keep your money in order, but it won't solve your problems if you don't trust each other when it comes to spending. There are groceries, unexpected expenses, things you buy for the house, clothes etc, so you need to know that even thought you have freedom with your accounts no one would go crazy with it. You don't need to ask for everything, but you should both agree that if there's something you want to buy above certain amount you will consult it with each other to make sure you're good, budget-wise. So there's some freedom, but it's a responsible one.
@@zenho_8 but everyone should do it. People would be better in saving and controlling their expenses. I'm doing it since I went to the university. I think for people with little income it is even more important.
@@zenho_8 Your comment doesn't make sense. The point isn't that everyone has multiple bank accounts, but that having multiple bank accounts has nothing to do with how much money you got.
Usually if the man is paid more (for doing more work) the woman will be taking care of the household more and you can try to balance it out (it'll never be 100% fair but that's life) and in a relationship you both need to pay the same bills, if she can't pay but you can you will because you're partners.
If she's taking care of the household and the kids, then she deserves to have a personal bank account from your money. Because being a stay at home mother or wife is a job as well. Maybe a harder job then yours because there is no breaks or holidays.
you pay the percentage of what you earn. A earns 80,000, B earns 20,000. the sum is 100,000. A pays 80%, B pays 20%. and we make sure to save for retirement too. if you have a stay at home wife, you need to save for her retirement, too. it’s her money, whether you die or she divorces.
You can make a variation on that theme.. it takes a lot of money... but I do advise every young girl I meet... try and keep a separate account for yourself... you never know when something may happen and you need it. Life isn't always like a sweet romance movie....Oh and everyone knows that Steve Harvey worked very hard for what he has....and he tries to share and encourage people as much as he can....God Bless him continually as he blesses us,his family and all that they have, they deserve!!🌹
Had friends that did this, they’ve been married 30 years and never fought over money. Sure it’s not much to work with when you’re starting out or when times are tough - but the underlying principle is that you’re a team first but still have your own life when you can. Don’t be bitter, be kind.
Good advice, we do it the other way around though. Contribute to the joint account from our personal accounts. the rest is hers is hers and mine is mine
@@davidlol1983 The bank charges you fees if you have under a certain amount in your account. Like they may charge you $5/month for an account with less than $500 in it but after the account has more than $500 in it they waive the fee. This is in place to make more people put more money into the bank so the bank can use said money to invest in stocks and make a profit.
@@davidlol1983 Bruh you were the one that said you didn't know banks had fees. No shit they want to make money and not have people with accounts of only $3. Like that's some kind of secret that we have been keeping from you.
@@WordOFGod2017 Knowing some of Steve’s history, all I could think was that with his income, he had lots of discretionary income in his “fourth” account to pay for however many side chicks as he likes.
Good advise. Just curve it to work for your situation. My father told me when I got married many moons ago that everyone needs their own spending money that they don’t have to account for or answer to.
Been doing this for 6 years since we got married and we never have issues talking about money. You are your own person. Have your own money. Be your own person outside of the marriage. And not just with money, but with friends and hobbies too.
I think the point of his comments isn’t to call out people about poor spending choices. I think he is suggesting a way to minimize arguments about money, which is often a big strain on relationships. He suggests this with a joint account for joint expenses, a savings account, and then personal accounts for each member of the couple. Many financial planners recommend separate accounts for married couples. I have heard that separate accounts aids financial independence and emancipation in the event of abuse or separation. An abused spouse wouldn’t have to sneak around withdrawing money to save up so they can leave/get things they need in an emergency. The purpose of keeping the savings account separate and needing two signatures to withdraw is to maximize retention. That money is safe and isn’t going anywhere unless you both agree. This way of handling finances might not be for everyone, but it is based on good financial ideas. You don’t have to be rich to do it either.
You should do it ESPECIALLY when you don't have much. I started having three bank accounts when I went to university and it helped a lot with saving a controlling your expenses
This AND another accounts for each of the children. My parents does this and how it got me teared as I grew when I realize me and my brothers education and life needs were already prepared 😭 No wonder back then when I want some ice cream or toys they teach us to safe money. But when we need to buy books, get an extra class, cram school, private lesson, fieldtrips etc without a doubt my mom would pay it immediately. She always says when it come to education they will always put it first. Just like how my late grandpa thought her :")
My mother did this for us 5 sibling when I turned 18 she gave me my bank book with money in an account so when I started my first job I continued saving putting in x amount of money every payday.
@@saracruze2212 smart but my parents were penny pinches none of us had a bank account we had to buy our own stuff at a young age. I bought my first iPad for $300 when I was 12.
@Randomized As a salaried employee, a contractor, a small business owner (side hustle), home owner and landlord... I'd be screwed without proper organisation. Income all over the place, bills all over the place, loans and debt, tax, fees, etc, etc. The first thing is an income account. Money in and the only outgoings are to my other accounts. The next is a tax liability account. I put a % of all income at the end of every month in there. Then there is a personal bill account, an account for every property (bills/mortgage/contingency), a savings account, an investment account. Then the personal current account which I take a "salary" from my income account and that is what I can blow on hookers and cocaine (joking). It's also the only account that has a debit card and the only account used to spend on anything that isn't a direct bank payment or standing order. If I ever got into trouble with fraud/scams/robbery, that's all they can access as it's the only one thats ever on hand. And it''s with a different bank too. I also have one spare account that used to be a loan account. If I had anything I purchased over time or bank loans or credit cards, I'd put the repayment amounts in there. That's before any other people get involved! :D
Glad to know we’re doing this already! We’ve got the main account for check deposits and bills. We’ve got one checking account with two cards for food. We’ve got another checking account with two cards for non-food items (gas, toilet paper, toothpaste, etc.). We’ve each got our own checking account where we get an “allowance” every week. Then we have three savings accounts - one for emergencies that we don’t touch, one for vacations since that’s something we wanted to focus on, and one for larger purchases (bigger items we want but don’t need like a tv, computer, etc.). It helps us see where everything goes and we can adjust it when we need to!
Make about 18k a month but find it very difficult to save now than I did when I made 4k a month. It's insane how lifestyle matches income. Now, I'm only 31 so I do plan to wise up and be more financially responsible.
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Please please don't go wrong way
She doesn’t do a job .so there’s 4 accounts and i have to fill them right.gfus
They don't have 2signer accounts anymore
I tried this, the first account ate all my money... So I could not afford it. Not even a wife.
hahahajaa
Babe, we gotta split this $50 four ways here
have more than $50 then
@@user-dw1fr If you're homeless, just buy a house loool
I know that’s right
I don't see problem here if people are normal
"we" ? Why we ? How would you have done if you were single, once you've paid the bills ? Just do the same here. If you can't spare, don't spare, but keep your independancies. This is the fundamental message here.
It’s so easy to say when you have the funds😩
Exactly. True that
True BUT start somewhere. It is not easy but saving is a must. Can't trust these jobs to pay when they're supposed to pay.
Its literally not hard… go to work and work overtime n stack up money wtf
@@avidparent4643 damn what kinda job you got that dont pay on payday? Thts crazy i never heard of it
@@Realbigtov unfortunately, they're many in different parts of the world
Me splitting up my money into my different accounts after paying bills:
"£1 for you... £1 for you..."
If paying bills takes 99.99% of your available money, you're doing it wrong.
@@SgtDuster it's 👏 a 👏 f*cking 👏 joke
@@SgtDuster what if that’s the available rn
@@unknowncharacter889 bro censored his own comment 💀
@@daay.17 Ill do what I want with my comment, thank you ever so much
Steve knows more about being a real housewife more than them 😂😂
😂😂😂😂
Damn, spitting truth. lol
I dont see how , it's just life advice
Your grammar is embarrassing.
@@jackieeeap2 I was just referring to the women on stage from the show “real housewives”. I feel like it is just advise but the way there were listening in that tea cup position, they were really learning something that day 😂
Ain't nobody have that amount of money to be splitting 4 ways, Stteve.🤣🤣 We all ain't rich like you😂
It’s actually 3 ways for a single person.. Keep in mind that you both already have individual bank accounts before you got married so all that’s left is an account to sort out the bills and an account for saving.
Well just don't get married if you can't do that
2 jobs, what do you think it’s just the man doing all the work?
@@ic3yfr0ggy51 That is what I thought when reading their comment. They putting it like they are working with only one income.
This is only 3 and also literally should be how everyone budgets their money. Set off the main money for all your bills, take a percentage of your choice from the remainder for savings, rest can go to basic spending on whatever. 3 step budgeting simple as pie.
Me who is single with three bank accounts...
“So I’ll just marry myself?”
@@lopamudra3261 like the way you think
If you’re in your 20s, buy a small fixer upper house in a fabulous neighborhood, invest, double or triple down on your savings, and you’ll be financially independent by age 50. You will see your peers continue to struggle but you will have set yourself up to also take the hits life will throw at you along the way. If you marry when you’re older, get a bulletproof prenuptial agreement to secure your house and your savings to the date of marriage, and then you can be secure that no one is marrying you for your assets. That way if the marriage fails (about 6 out of 10 will), you’ll have narrowed the battle to assets earned inside the marriage and your divorce attorney won’t be able to gouge you since you will have already stated the post-marital split in your agreement. 🤷🏾♀️
He said every *Couple* he didn’t say smooth brain single people
Marry your right hand or left hand.
Yes
Clapping starts when he mentions the individual accounts 😂
😂😂
Exactly. Shows the mindset of individuals
That's exactly what is killing relationships nowadays. It is individualism. Impressive how these people can't see it though 💀.
You need your own account. Nothing in this life is permanent. Life and death and divorce happens. We don't plan it. But what if she or he leaves or dies and they clean the account out or you can't get a signature
God so loved the world That He sent HIS only begotten SON that whoesoever believeth on HIM Should not perish but have everlasting life
This is exactly what my wife and I do. Started doing it 7ish year ago and it solved the issue of her buying crap that I don't want to waste money on.
This only works if u both make the same amount of money or else ur paying the majority of the bills and also paying her expenses now that she has the power she might spend all ur money and if u have control then making so many accounts doesn't make sense
She's still buying crap though
Steve Harvey discusses life with ah room full of multi- millionaires, you tell um Steve !!!!!
No separate account for married couple, period
@@jdc3636 none of your business what people do with their banks and money lmao.
@@jdc3636 why not? I am genuinely curious.
@@jdc3636 well it works well for us, and simple but to each their own.
@@jdc3636 uh?
5th account. Hidden money in the house for emergencies
That is saving account only
Heisenberg account
No account, when someone in gov decide you are Protester(in canada terrorist) they will block all your accounts with all your money…
@Tyler Durden 7th money for in case you loose your spinal cord
For emergencies you have kids, so you can sell some kidneys 😂
laughing out loud all the way to the food bank.
🤣🤣🤣
hahahahahaha 🤣🤣
Exactly
Most underrated comment right here, thank you Janey😂
@@amywagreich9042 who's that guy again I forgot his name, srry
All the women chirped up when he said “you gotta have your own life” at the end lmao
Except, when your married it's not your own life anymore.😂
Me: Thinks of opening 4 bank accounts
Meanwhile my one Bank Account: Laughs in 30cents
*Who needs a job when you can type UA-cam comments all day*
😂😂😂😂😂
I overdrafted mine by 4 dollars one time LMFAO
Me and my husband do this. I am actually a stay at home mom so we have one income. We have one that is for paying bills. Left over we split into our own account. And depending how much we got we put into savings. We don’t have much but it’s still something. It keeps us accountable and when ever we buy things for the kids we both pitch in. We have 5 and soon to be 6 kids. It works.
Lol so he funds your account? I don't think that's what he was trying to say
You have no job and very little money. But you have five kids and another one on the way six kids no money. It's time to start going to the movies or investing in condoms!! You shouldn't be having such a large family when you can't afford it that's terrible
@@spilledsoju03 they have 5-6 kids. Sometimes one parent staying home and not working is just as necessary as being the one that goes to a different job every day. If you think parenting 5 kids isn’t a very difficult you’re delusional, I’d take working 10+ hours a day labor.
@@dietznuts4014 yeah but you don’t do the fact in this situation is he funds her life. No one’s saying that situation isn’t agreeable or disagreeable for them, it’s just what the truth is
@@spilledsoju03 he's saying that you should have seperate accounts so you can do what you want and have independence. He didn't specify where the funds should come from. If there's only one income that's fine. They might make in one income the equivalent of what you make in two
My boyfriend and I have had exactly this ever since we moved in toghether (10 years ago). Only difference: our paychecks come into our personal accounts, and we both transfer an x amount to our joint account for bills and groceries. We also have a joint savings account for holidays and emergencies, and we both have our own personal savings too. Feels great. It gives both security and independance.
Why why who changes your DIAPERS
Security for cheating
@@klapzzo9024i feel it 😊
The music kills me on these videos 😂
what is it
@@blockfish5163 it's too pretentious that's what.
@@blockfish5163 unnecessarily sombre
I know, right, sooooo overdramatic and cringe 😂 (and god knows how much I love that song xD)
@@SaundersBoy Her3 we badly have money to pay the bills
My hubby and I both have a set amount of money that is ours to spend each month w/o asking, but the transactions come out of the joint account. We have no secrets from one another, but I do think having our own “spending money” is a great way to manage money as a married couple.
Problem is that if you want to buy something big, that's not gonna fit in your monthly allowed spending.
We do it as explained here for years, and works really well. If i wanna spend 5000 dollars on some huge home theater i can just do that cause i saved that with my own money. No questions asked except: Can i come too?
But what if u want to buy surprise gift tfor them?
@@itsaj2404 good point
Glad to hear there's marriages where both share the responsibilities. Unfortunately my marriage isn't like that.
@@MD-or1rb i guess you can use your other wife's account for that
Imagine having enough money that you can even think about having 4 bank accounts.
Even without that much money
When both of them work this can be pretty useful
It’s really not that hard of both have a job and you are more prudent with your spending.
You guys are so uneducated about money that you believe that nonesense…
If you both work, you should be perfectly able to do so. What you find difficult is to maintain the quality of life that you have, buying whatever you want, new phone? New car? New anything AND be able to have multiple bank accounts.
You can’t, except if you make enough money. Otherwise, you have to learn how fiances work and how to spend less on futile things.
I have 4 bank accounts on my own. One I get paid into, one I pay bills out of, one I carry the card for, and one to save a little each month for xmas and holidays. That way I can never unintentionally spend more on one thing than I planned to.
I also have a long-term saving account and a pension but I count them as investments rather than bank accounts.
It's very possible with 2 people.
Easy for you to say Steve. Not all of us have your net worth. With this current situation, We are happy to even have one account.
All of us starts from 1. Soon you’ll have 2 then 3 accounts
If u don’t like it literally move along
@@amshooketh dont like my comment you can literally move along to
@@dalumfitnessph that's not how life works in this economy
@@amshooketh move along to where??
Actually started doing this just a few months ago with my wife. So far so good
My husband and I have been doing this from the very beginning, when we started living together. To me this common sense.
Baby
What ever y’all do
Keep outside ppl out
It will hpn keep god 1rst it will hpn amen I’m praying for yall❤🎉
Exactly 💯
My mother told all 5 of her kids Exactly that.
So very grateful that I did this.
I am Jamaican and Dominican and single, as young girl my parents teach me to have 1 account for savings, 2nd for emergency, 3rd for checking to pay bills such as light, mortgage ect. I started the 4th savings so that if something goes wrong with the house I have some help to fix it, when I get paid I have 3% to my 401k , $50 each to the other 3 accounts, and for the 4th /$20 to $30 for fixing the home. It doesn't take a lot to save you have to make sacrifices, I dont buy alot of fast food I have nice things but I save towards it. My cousin has a $800 car payment it doesn't include insurance and live with her 3 kinds from 3 different dads she is a single parent. You have to make certain decisions for the future of your well being. She lost her job and the car, she is using one of my cars and she lives with me so she can get on her feet. At your job work overtime if available, I work 2 jobs for 4 years to build up my savings. Once you reach 25 years old you must work on building up yourself no one is going to help you. I don't judge what you do for a living but save some of the money. Don't live above your means. Just saying?
Felt your struggle. God bless you
Thank you.... Really needed this motivation speech 🤔🤩
You're parents raised you well. This is what strength and independence looks like.
Finally someone gets it. I live by all of those things and get called a tightwad and told I never do things with my S/O but guess what? All bills are taken care of and in the event of an emergency, I can cover it.
Hey I'm single too 😅
OMG! WOW! Hell yeah! This is beautiful advice. Partnership dasn't mean all into one. Share/save the two and separate the last two cards for individuality. Yes! We need more advice and practical stuff around like this. Teach your kids this sort of things. Love this! ♥ 💜 💛
Wow, my husband and I did this the second we got married. I thought he would be against it when I brought it up but he wasn’t. He thought it was a great idea. I’m glad we’re not the only ones of this mindset.
Been doing this for the last 18 years. Works a charm.
It is great because you dont have anyone overdrafting because they didnt check with their spouse.
You talk over the bills. You never take money out of savings except for emergencies. Then you each have your own petty funds account to keep track of without worrying about someone else's withdrawals.
I'm mid 30s, single, with a decent paying job. I started doing this 3 years ago. 1 account has all my bills on autopay, and that's where all my money goes into when my check deposits.
The 2nd account is a savings account with a better than average rate, which I move money to twice a month, the Monday after payday.
The 3rd account I put money in every month on the 1st of the month, and that's the money I use for when I wanna buy lunch or dinner, instead of cooking at home, or if I wanna go to the movies, etc.
Has really changed the way I spend money.
you should consider investing part of the money in that savings account in something safe like the S&P 500. Even with a good rate, you’re still losing money due to inflation, but the S&P averages 7+% annual return.
@@iancampbell1911 Lol 7% is a joke. Create your own business. Putting your own money to work will not only produce more for you but teach you things too. Letting other people put your money to work for them only teaches codependency.
I'd also suggest putting some of that savings into bitcoin. It's high risk but high reward. Its averaged 100% pa since 20009. It'll be a million plus for one btc within 10 years.
@@fomofud9479 Lol imagine still believing that dumping money into a glorified pyramid scheme is an "investment".
@@JorgeChavez-du5vm I don't do imaginary investments my friend, I only do reality. I wouldn't be suggesting it if it wasn't worth it's while. I get that old school uneducated (on btc) people like you don't get it or understand it, that's fine but you really shouldn't comment on things you know nothing about, it just makes you look stupid.
My husband and I have separate and joint accounts and everyone I tell this to looks at me like I'm crazy. Foreign concept to some people we have been doing this for over 10 years. I never thought about it to be honest, when we met I had my own and he had his own, we just kept them, added each others names to them in case of emergency and then opened two different types of savings account. I love it.
before my husband and I divorced 12 years ago we each had our own separate individual accounts with our credit union and we had a joint accountl to take care of our household finances.
so it does work.
a lot of people think that it might not be a great idea to have your own separate accounts because everything is supposed to be together, as two becomes one...
BUT in this day and age, a lot of people forget the old school adage:
LOVE is LOVE, BUT BUSINESS is BUSINESS. and running a HOUSEHOLD is like running a BUSINESS.
IT is a personal FAMILIAL CORPORATION. even BUSINESS LAW would support that.
BUT you and your husband are DOING the right thing, and you already know why they thought it was crazy, because they may not have even thought about it LOL.
@ladiifourtwnty cookies just make sure never to make a joke. I repeated a joke to my wife before we got married. Forget what comedian made the joke. I changed it alittle and said " your money is your money and my money is your money" his joke was that's what his wife thought. Well 12yrs later wife with money arguments she still repeats it to me saying her and my money is all hers. She claims I wasn't joking as if I wouldn't know. For 12 yrs she has yet to help with bills. She didn't even have taxes taken from her pay so tax time I owed. For last 2 yrs she haven't worked but still keeps the 5k+ returns. I pay everything take her and our 2 kids out to eat weekly and pay for vacations and I buy and wrap our kids 🎁. She doesn't even remember my bd which is 9 days after hers. My marriage is so weird
Best thing ever! Been married for 24 years. We started with a joint account and he would over spend. We separated our accounts and the bills. Best thing ever! We would probably be divorced if we hadn’t.
@@dragonext2001 Oh my. Sorry, i feel bad on that one. Well I am old school as far it is alright for the woman to stay home and take care of the kids and house. But I am a little modern in that since I work and earn money then it is ours. We just keep it separate. My husband is old school as well so he also pays for everything and doesn't mind. I have to sneak and pay a bill before him if I want to do that. But to even it out, I buy all the groceries, household needs and wants, all kids stuff, clothing for house, and all of Christmas (except mine of course). It works out. I'm still contributing just not paying the mortgage, power, etc. I do not believe at all that a woman keeps 100% of her money and has the right to spend his. Separate bank accounts yes, but all the money is still ours. If there is an emergency it all will come together to handle it.
@ladiifourtwnty cookies Nope all the money is ours. That is an entitled mentality to have. Both must contribute in some way. If she doesn't work then she should be making sure he doesn't have to do anything when he gets home or is off. Except of course things she can't do. But my sons tell me i'm a unicorn that not many women think the way I do. So who knows, LOL
This makes sense to me, this is wisdom
🍷👍
Mean while in Asia : your money is mine, and my money is.. Also mine
Which country are you from
Are you from Thailand? Because that sounds like something my mom would have said😅
Also in the Muslim community. What's his is mine and what's mine is mine 😅
And YOU are mine.
In india it's same but in rural area things go well in with traditional understanding
But in newly urbanised areas with rapidly changing lifestyle problems are arising between couple as women want more freedom and also don't want to drop the mindset of financial dependency
Exactly what me and my wife do for 40 years now. Works well for us
Married with one bank account. You really learn to communicate well with one bank account!
Us too! I don’t believe marriage works as it should with separate accounts.
@@FlapjackR my wife and I have had separate accounts for 16 years. It’s great.
The advice is have 2 Joint accounts and 2 personal accounts.
@@FlapjackR your marriage shouldn't work or not work based on how many accounts you have. That's crazy 😂
@@grumpynomad3551 I will always have a separate account. Don’t know how much debt I would be in if I hadn’t had my own account to pay my bills lol 😆
Wise! Unfortunately nowadays there would only be one account necessary for most people. The necessity account. And that’s very very sad.
“You gotta have your own life”
Translation: divorce…1 account 😹
🤣
Still better never get married and you can have all the money and do whatever you want.
Yep.
@@Pfirtzer Life is more than money, and it's a selfish life that's focused on "what I want to do".
Before I have 1, After divorce I have 4
Clapping begins after “each have separate accounts” 🤣
👏🏻👏🏻👏🏻🤣🤣
🤣🤣🤣🤣
My husband and I have two joint accounts, but we keep our money separate. We can both access each other’s money if we need to- but our own money goes in our own accounts. He pays the big bills, I pay for groceries, travel and household necessities. 👐🏽
Sounds typical, let’s keep money separate but you pay the big bills, I’ll cover a few small ones
@@dickhitswater4836 those are not just a few small ones doofus. Groceries, travel, and household items can often come out to cost more than other bills in the end, I know for a fact.
@@irisbelle8 travel is a luxury only privileged enjoy so easy with the doofus stuff, there’s no need to be rude. luxuries are what they are and when you are privileged enough to enjoy them appreciate them for what they are because many don’t ever experience it.
To each it's own...wouldn't work for me and mine. We have the same setup that's in the video.
@@dickhitswater4836 She's paying for vacations, That's Hardly EVER a SMALL AMOUNT of money! (Unless you vacationed like we did for about 10 years- bought a used, large camper, found our favorite campgrounds and felt we had a vacation every wkend! Those are such great memories) But, maybe in their situation, It was her way of making up for him paying the "big bills". Usually It all evens out in the end, Her hubby doesn't seem to mind that arrangement at all! IF we had the luxury to go on extravagant vacations every year, he'd gladly pay the "larger bills" if I'd pay for a vacation every year. Even back when we were young tho, raising our boys, he paid for most of everything, because from his experience, OTJ training & then college after Vietnam was over, the Air Force paid him to go to college. His skilled trade in the Air Force, easily transferred over to a Civilian job, and being a Veteran, AND an Electrical Engineer, there was NO way I could make half of what he made with a career in Healthcare. But it was more important to him though, that I stayed local, so IF our boys needed anything, I was always close enough to take care of them. Plus I was always the one that got them to baseball & football practice, guitar & drum lessons, while he traveled out of town most of the time. I could've drove to a bigger town, and made more money, but he said he preferred it this way, he felt I had job security, I carried the insurance on all of us, and then it was pretty convenient that I could arrange my schedule for breaks out of school, sick days, and like I said could get them to whatever they had going on after school, then get them home, showers, fix dinner, make sure they got their homework was done, and that I laundry all done. kept up on ALL the housework chores. Had I worked out of town, I couldn't have done both. Me beings with our boys was much more important to him, than me making more money than I did.
Now, with him retired, and myself becoming disabled, one boy out on his own, our youngest tragically being called to his Heavenly home, neither of us have any regrets how we chose the way to raise our family.... but we sure miss our babyboy.
Don't ever take your loved ones- especially your parents, your spouse & your kids for granted. Tomorrow isn't promised to any of us.
Bless You All.
They all screamed "Exactly"😂😂
Hubbys have been doing dem wives dirty! 😅😅😅
I told my wife i need a seperate bank account..she started checking my phone
Right
You shouldn’t have said anything to her there’s certain things in your life that you should keep private not because he’s your wife.
We’ve been doing that for several years now. It works out great! We agreed to call our individual accounts our pocket money.
*Some* woman: **nods**
Her mind: "I don't agree"
Women nod to say they hear you
Asian Women : your money is mine, my money is also mine
That is why when you are doing something like that the say nothing to her. That u keep private. Your personal savings
EXACTLY!!!! That's what my wife and I have!!!😊 We have been married for 5 years, so, we are still newlyweds. Right now, my wife is layed off from her job and has decided to go back to college. Until then, I have been giving her a 3rd of my paycheck as a share. That way, she still has money for her personal needs. She's so wonderful that she still contributes to the other needs of our home and I pay all of the utilities! God has blessed both of us and me, especially, with her!! 🥰 I encourage her every day to be strong and positive because we're a team, love each other, and together, we can do almost anything!!😊 Steve's suggestion is excellent AND it works if it can be applied to your marital situation.
I had people say such terrible things about my comment but I don’t know I don’t see it as my husband is “funding” me as they say. You clearly have an open honest relationship and people are stunned it’s still is a thing they can find in life these days. I supported my husband at one point but people don’t care. They just see and wife at home as and easy way out in life. You and your wife sound so wonderful! It’s beautiful :)
Thank you!! Some people are just haters and don't try to understand! You and your husband have the right way of thinking!! God bless you both!!
@@We_in_Miami crybaby mf
@@We_in_Miami I'm sorry to hear that, but you have to plan for the future BEFORE you get married! It's too late for you now, but, I tell everybody to plan for unexpected events in your life and be especially financially stable to sustain a household if you are considering getting married and having kids and a pet!! That's what I did!!! Some things are out of your control, but having children is NOT one of them!!!!
Exactly! That's what we do too!
Been married 34 years. Always had one joint account. If you need 4 accounts, there's something wrong.
Do not marry. Never.
No. It's not. We do this since almost 50 Years. First on Ovo Boxes no in Bankaccounts and it still works. And we are both Swiss
Or how about every relationship is different and different things work for different people? After 34 years, I'd hope you'd have understood that atleast.
That’s exactly what my wife and I have. It’s been working really well for years.
God so loved the world That He sent HIS only begotten SON that whoesoever believeth on HIM Should not perish but have everlasting life
Won't last... sorry for you.
@@rohitkhanna ???
Lol y'all want to be individual as a couple 💀
Wife? Dont you mean you roommate?
Steve has some of the most helpful stories if you're in his financial position but if you're a regular person very little of his speeches pertain to you
As a regular person that’s been doing this for 10+ years, this is great advice for anyone to follow…
If you’re a millionaire, have a basic job or are on benefits this works. It’s personal financials 101. Even if it’s only $800 a month it’s still how you should be doing it
@@joeyuncard3956 lol ok 👍
I need money💰 to put in my one broke ass bank account.
God so loved the world That He sent HIS only begotten SON that whoesoever believeth on HIM Should not perish but have everlasting life
@@johanneshartman4618 I'm not sure how that relates to the original comment
💯 agree, that’s how my husband and I split our finances and it’s amazing!
We're halfway there. We have one checking account for bills, which is always barely enough, and another savings account which is empty. 👍 Yeah! Movin' on up!
yep! two more bank accounts to hold all of your dust bunnies and cobwebs.
he should said every rich people should have 4 banks account 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Havent been able to work in 5 years because of heart disease. My husband tries hard to support us as best as he can. I dont recieve any benefits from the government or state. The struggle is hard, but we have each other and as long as we can laugh and be together every will be ok.
I admire your positive attitude! Thank God for true love!!!
Amen Angela! You're already much richer than many, MANY of these people in these comments.
Your marriage sounds like the way marriage was created
to be.
Sticking beside each other thru the hardest times
of your marriage,
standing side by side,
2 people who have become 1,
"In sickness and in health,
For RICHER OR POORER,
For better and for worse,
Til death do you part."
Our Vows are MUCH MORE important to my husband & I than seperate bank accounts, and how much either of us have to each of our names.
We've been doing it
this way for 30yrs, as of
just in September,
so we must be doing
something right!!
At least for us!
Of course we're not millionaires either Angie,
SO MAYBE...JUST MAYBE,
Money is NOT Everything.
Look at the divorce rate
among celebrities.....
Kinda makes you wonder huh??
Well May God Bless You & Your Hubby, Your Health....
(I'm in same boat as you,
and going thru intense grieving as we just lost my
Mom 2 months - "OUR MOM"-
ago as of tomorrow.
It's been HELL.
AND, It Brings back
ALOT from tragically losing
our youngest son, 9yrs ago
at only 21 yrs old.
We miss them BOTH than
more than words can express.)
We cannot take our loved ones for granted, especially
our children,
our spouses,
And
our parents.
Tomorrow is never promised to ANYONE....
AND, Life is TRULY NOT all about money, bank acts etc.
Some just have to learn
the hard way...😢💔)
And also, May God continue blessing your marriage!!
Prayers, Joy, Light & Love
🙏💙🦋💙✨️✨️💜✝️💜🙏
Wife and i have 2 joint accounts. We put 10% of our checks in our separate accounts.
Already doing this! 👍🏻 don’t forget the 5th bank account…. Time with your partner. Life is to short to worry to much about the other 4 accounts. You have the 5th, you’ll always be happy!
Financial advice for a married couple from a man who's on the third marriage...... just wonderful !
Medical advice for a kid from a man who’s in his 30s…… just wonderful !
Extra experience! Lol but seriously dude is still rich after 3 marriages. I would hear him out.
3 marriages makes him the most experienced person when it comes to marriage. Just hear him out!
That’s a good idea. It might eliminate some arguments over money which does cause many hurtful words that you can’t take back no matter how many times you say you’re sorry or told they’re sorry. It’s still in your head.
My wife does not work, been married 17 years, 1 checking, 1 savings, 2 brokerage accounts.
Number of account does not determine the life you have. Respect, love, and trust does.
I'd say better no to be married and have all the money for my self and do whatever I want with my money.
Wow, I'll make sure to forward this to all my financially struggling friends. Great advice.
The fact that nobody clapped until they heard the part about them having their own personal accounts speaks volumes
maybe they were just letting him finish the list
@@moonheartsky that's probably the case. We can't just jump to conclusions like that
@@moonheartsky I thought so too at first but he's still talking when they start clapping
@Sarah Brunori are you married? If so is that how yall do it?
@@J972M but maybe they were able to get the gist of it? idk lmao
I've thought this for decades now. Makes so much sense.
Ours doesn't work this way. We have 2 accounts. One both our checks go into, the other any bonuses and parts of our check go into.
We have a hard rule, you don't spend more than 200 dollars without checking in with each other first. It's not permission, it's communication.
When me and the wife started doing it this way thing started really moving foreward. Thank you
I'm single and did this too. Just 3 acc btw... One for the bills and food and gas. One for the future or emergencies and another one for my hobbies and more foods as I am a foodie 😅
Me also btw😂😂
I have 3. Saving that had 95% of my earnings saved, checking that gets blown through by the next pay check 🤣 and an account that is connected to my online store, money that goes there never gets touched
1 acc only, but I'm making Excel, where I split "25% hobby" and rest are saving and current bills
👍
That’s exactly what my partner and I have. But our pay checks get paid to our own individual accounts. Bill money gets put in to the joint account. And then we have a savings account that neither of us touch unless necessary. The rest of our money we spend on whatever we want no questions asked
Steve really is a mentor at heart.
I wish I had done this 29 years ago. I would have been financially prepared for abandonment. Good advice. I will never give control of finances to another person again.
This music is making it sound like he's talking about someone dying.
That lonely my own bank account. RIP, never got fed!
of course ... the relationship is doome to die.
I wish that I had this advice when I got divorced. My EX waited til my health got so bad that I didn't know I was in this world and he cleaned the checking and all the other accounts out . I didn't have anything left.
I’m so sorry about that. Hope you’re doing better now. God bless
So is true I’ve been waiting for video like that. I had relationship where I felt like I didn’t have a PARTNER I was just a provider which is not fair for the relationship we were trying to build
What?? Where have you been? My first job bonus went into a new savings account of my own with my name only...only because I don't want to feel like a child, but a adult married mother of 2..
Be sure the one you have a joint account with for the bills don't go and clean the account out, never say nothing to you, and when a bill is needed to get paid, SURPRISE IT'S ALL GONE! Thank you Steve each should have an account of their own, because you both got to have your own life. HAVE AN SAVINGS TOGETHER BUT IT TAKES 2 SIGNATURES TO MOVE IT,. Thank you!
I’ve been married for 17 yrs, we have a joint account and that’s it, it has worked so far, don’t see the point in what he’s saying.
Our bills are payed, we have a roof over our heads and a car. The rest of the money we invest. Works pretty good
Only fucks up if you divorce!…. Who’s savings are who’s!… what money is his and what money is yours?
@@eden3085 easy, we both worked as hard to achieve whatever we have, specially because we had nothing when we got married, so in the eventuality of a divorce it will be a fair 50/50 split. Any more questions?
@@brunodasilva3294 that’s very naïve! My sister was married 35 years and he left her with nothing…. Emptied the accounts etc!,….. also you find out that your wife has been having an affair for the last 5 years…. You won’t want to be handing her 50/50. Your wife loses her job and counts on your earnings for the next 10 years and then asks for a divorce…. There’s no longer 50/50!, you start gambling all the money and 50/50 gone!….. it’s a lot more complicated than you think!…. Just because things are good now!!!….. doesn’t mean they’ll be good forever!….. if you’ve saved up for years and years to buy your ultimate dream sports car costing 63,000 and then your wife suddenly says it’s 50/50 mine! 🤣😂🤣
You’re wife has worked hard and wants to go on an expensive holiday with friends! Technically she has to ask you for permission to use that money!….. a pair of Prada, a new handbag basically you have to have each other’s permission if you wish to buy something of cost for yourself!…. I’m an adult if I’m not going to ask permission to treat myself with my hard earned money!…. I’m putting aside my personal expenses!…. My money! 🤣
Oh and do you both earn the same salary…. If one earns 97,000 per year and the other 15,000 and then get divorced …. Then again one bank account isn’t logical!
grown ass women didn’t agree until he said separate accounts to do whatever they want 💀
That's what I notice 🤣
It's good advise too keep your money in order, but it won't solve your problems if you don't trust each other when it comes to spending. There are groceries, unexpected expenses, things you buy for the house, clothes etc, so you need to know that even thought you have freedom with your accounts no one would go crazy with it. You don't need to ask for everything, but you should both agree that if there's something you want to buy above certain amount you will consult it with each other to make sure you're good, budget-wise. So there's some freedom, but it's a responsible one.
4 Bank acc,To many people Dont Got so much Money honey😂
I make 800€ per months and have 3 bank accounts. Whats your point?
@@DerAltruist you are not everyone 😐
@@zenho_8 but everyone should do it. People would be better in saving and controlling their expenses. I'm doing it since I went to the university. I think for people with little income it is even more important.
@@zenho_8 Your comment doesn't make sense. The point isn't that everyone has multiple bank accounts, but that having multiple bank accounts has nothing to do with how much money you got.
Not only that most folk today cant manage one account let alone3 more lol
Brilliant, this man came from nothing and look at him now. Perseverance.
Is it really? Or is it a combination of luck, right connections, right patrons, and some hard work?
the problem is not everytime both earns the same, and in most cases men earn higher, so what percentage of bills you want him to pay?
Usually if the man is paid more (for doing more work) the woman will be taking care of the household more and you can try to balance it out (it'll never be 100% fair but that's life) and in a relationship you both need to pay the same bills, if she can't pay but you can you will because you're partners.
You determine that together.
If she's taking care of the household and the kids, then she deserves to have a personal bank account from your money. Because being a stay at home mother or wife is a job as well. Maybe a harder job then yours because there is no breaks or holidays.
you pay the percentage of what you earn.
A earns 80,000, B earns 20,000. the sum is 100,000. A pays 80%, B pays 20%. and we make sure to save for retirement too. if you have a stay at home wife, you need to save for her retirement, too. it’s her money, whether you die or she divorces.
It's okay, you bring the food and she cooks it.
Nearly 30 years ago I knew a married couple who lived by this principle and they never argued about money.
You can make a variation on that theme.. it takes a lot of money... but I do advise every young girl I meet... try and keep a separate account for yourself... you never know when something may happen and you need it. Life isn't always like a sweet romance movie....Oh and everyone knows that Steve Harvey worked very hard for what he has....and he tries to share and encourage people as much as he can....God Bless him continually as he blesses us,his family and all that they have, they deserve!!🌹
But where's the money first
Had friends that did this, they’ve been married 30 years and never fought over money. Sure it’s not much to work with when you’re starting out or when times are tough - but the underlying principle is that you’re a team first but still have your own life when you can. Don’t be bitter, be kind.
Now the hard part is to get in a couple...
Nah, the hard part is to keep it😩😩
Good advice, we do it the other way around though. Contribute to the joint account from our personal accounts. the rest is hers is hers and mine is mine
most people: why the hell am i supposed to pay fees for four different accounts that are all empty?
Fees? I've never paid a cent for any account I've had since I've had accounts.... about 30 years.
@@davidlol1983 the same never heard of fees for a savings account....where are they banking....oh on their PHONE.
@@davidlol1983 The bank charges you fees if you have under a certain amount in your account. Like they may charge you $5/month for an account with less than $500 in it but after the account has more than $500 in it they waive the fee. This is in place to make more people put more money into the bank so the bank can use said money to invest in stocks and make a profit.
@@therussianbullfrog3975 oh you mean like a business..... no shit they want to make money lol like that's some mind of secret.....
@@davidlol1983 Bruh you were the one that said you didn't know banks had fees. No shit they want to make money and not have people with accounts of only $3. Like that's some kind of secret that we have been keeping from you.
It's funny because Steve's wife has access to at least three of those accounts and she doesn't put a dime into them.
Her net worth is 50mil and shes a fashion designer, what are you talkin about
People like to give advice that they wouldn't follow themselves 😂
@@ckw4everwithlove she’s fashion designer off his name when she took him from his wife, yes he was married when he met the home wrecker!
@@WordOFGod2017 Knowing some of Steve’s history, all I could think was that with his income, he had lots of discretionary income in his “fourth” account to pay for however many side chicks as he likes.
Good advise. Just curve it to work for your situation. My father told me when I got married many moons ago that everyone needs their own spending money that they don’t have to account for or answer to.
* insert “I have three dollars” Patrick Star meme here *
Me to My wife after watching this: "okay, so we'll put 50 cents in savings, and 25 cents in each of our accounts once the bills are paid"
My favorite part about this comment section is the 500 people making this same joke.
@Micky yes, I'm happy I'm 38 and started off before all this new bullshit People have to contend with.
Been doing this for 6 years since we got married and we never have issues talking about money. You are your own person. Have your own money. Be your own person outside of the marriage. And not just with money, but with friends and hobbies too.
Common sense
I love how the lady nods as if profiund wisdom is being spoken that she never thought of.
I like how he thinks everyone just has money and we're only broke because we don't have 4 bank accounts to put it all in.
I think the point of his comments isn’t to call out people about poor spending choices. I think he is suggesting a way to minimize arguments about money, which is often a big strain on relationships. He suggests this with a joint account for joint expenses, a savings account, and then personal accounts for each member of the couple.
Many financial planners recommend separate accounts for married couples. I have heard that separate accounts aids financial independence and emancipation in the event of abuse or separation. An abused spouse wouldn’t have to sneak around withdrawing money to save up so they can leave/get things they need in an emergency.
The purpose of keeping the savings account separate and needing two signatures to withdraw is to maximize retention. That money is safe and isn’t going anywhere unless you both agree.
This way of handling finances might not be for everyone, but it is based on good financial ideas. You don’t have to be rich to do it either.
You just made this up, because he never said that you're brike because you don't have 4 bank accounts. Listening is key, you know.
The clapping the motivational music and he's here like "1, plus 1, is 2"
Best advice ever. Wish l would have known this before. Better later than never.
..actually, 6; joint checking and savings, plus individual checking and savings accounts.
I have this really good feeling that he doesn’t have 4 bank accounts
He’s telling people the basics, even I don’t just have 4 bank accounts.
Steve nobody is as rich as you are, give me a break
You should do it ESPECIALLY when you don't have much. I started having three bank accounts when I went to university and it helped a lot with saving a controlling your expenses
@@theo7709 Me too I have three bank accounts for this specific. One for paying bills, one for saving money and one for daily expenses
@@theo7709 i have exactly 3 dollars left after bills and necessities.
@@grape7472 do you like that?
@@theo7709 yes i enjoy being broke.
This life advice is fucking FANTASTIC! 👌👌 👏👏👏
Nah bruddah my check goes straight into MY Account😂
My check goes straight to my wife or it’s gone by the weekend 😅
Yeah and own savings account. Who needs joint account. Me and my girl wont have. We have been together for 6 years. Maybe when children are involved.
We just have one… all money goes to one pot. We go up together and go down together 😅
Hahahahaha... true !
Same. I wouldn't have it any other way
Him : have 4 bank accounts
Me: I don't have money for even 1😭😭
U dont have to have a certain amount. U can put 1 cent
There are literally free banks, I use Union Bank and I don't pay them a penny
GOD BLESS THIS MAN.
This AND another accounts for each of the children. My parents does this and how it got me teared as I grew when I realize me and my brothers education and life needs were already prepared 😭
No wonder back then when I want some ice cream or toys they teach us to safe money. But when we need to buy books, get an extra class, cram school, private lesson, fieldtrips etc without a doubt my mom would pay it immediately. She always says when it come to education they will always put it first. Just like how my late grandpa thought her :")
Did your education not include grammar? Feels like a waste if you ask me.
@@ExtremelyGay Savage but true 🤣
My mother did this for us 5 sibling when I turned 18 she gave me my bank book with money in an account so when I started my first job I continued saving putting in x amount of money every payday.
@@saracruze2212 smart but my parents were penny pinches none of us had a bank account we had to buy our own stuff at a young age. I bought my first iPad for $300 when I was 12.
Wow that’s exactly what I have done and my philosophy behind it. I have just never heard anyone else state it in advice. Thanks for the confirmation
I thought I was only 1 doing this . My family called me crazy for having so many accts...thank you ..🥰😊
@Randomized As a salaried employee, a contractor, a small business owner (side hustle), home owner and landlord... I'd be screwed without proper organisation. Income all over the place, bills all over the place, loans and debt, tax, fees, etc, etc.
The first thing is an income account. Money in and the only outgoings are to my other accounts.
The next is a tax liability account. I put a % of all income at the end of every month in there. Then there is a personal bill account, an account for every property (bills/mortgage/contingency), a savings account, an investment account. Then the personal current account which I take a "salary" from my income account and that is what I can blow on hookers and cocaine (joking). It's also the only account that has a debit card and the only account used to spend on anything that isn't a direct bank payment or standing order. If I ever got into trouble with fraud/scams/robbery, that's all they can access as it's the only one thats ever on hand. And it''s with a different bank too.
I also have one spare account that used to be a loan account. If I had anything I purchased over time or bank loans or credit cards, I'd put the repayment amounts in there.
That's before any other people get involved! :D
Glad to know we’re doing this already!
We’ve got the main account for check deposits and bills.
We’ve got one checking account with two cards for food.
We’ve got another checking account with two cards for non-food items (gas, toilet paper, toothpaste, etc.).
We’ve each got our own checking account where we get an “allowance” every week.
Then we have three savings accounts - one for emergencies that we don’t touch, one for vacations since that’s something we wanted to focus on, and one for larger purchases (bigger items we want but don’t need like a tv, computer, etc.).
It helps us see where everything goes and we can adjust it when we need to!
Make about 18k a month but find it very difficult to save now than I did when I made 4k a month. It's insane how lifestyle matches income. Now, I'm only 31 so I do plan to wise up and be more financially responsible.
I completely understand that. Like I can’t even remember a time I made less than I do now. But I did. And I lived. I need to get back there
Mum and dad did this for over 35 years. It works