Of all the many challenges couples face in life, whether married or living together - deciding how as a couple you’re going to manage your money tends to be the most confounding.
Some couples choose to keep their money absolutely separate. This is mine, that’s yours, and never the twain shall meet, or something similar. Of course, this option which seems very straight forward, clear and easy, comes with its own set of problems not usually envisioned when initially making this choice. The main problem being, you’re not working as a team when it comes to coordinating your cash flow, investing and tax planning strategies. As a consequence, you’re missing the opportunity to optimize your finances. You would never run a business this way, so why would you manage your cash flow this way?