In a Relationship with Separate Finances

I know lots of couples with separate finances — like Gabrielle Union and Dwayne Wade! It really works for some people. But just because you’re not sharing finances, does NOT mean you shouldn't talk about money!

Your 5 Personalized Action Steps:

• Have a Money Date Every DAMN Month: This is SET TIME for you and bae to discuss your finances. Even though they’re not shared, you’re still together a lot & spending money is part of living life together. This should be a moment where you can be transparent about any concerns you may have and get clear on what you are building towards. Find out how here.
• Establish individual financial responsibilities: Clearly define who pays for what to avoid misunderstandings or conflicts in the future.
• Maintain separate bank accounts: This allows you to have control over your money and maintain a sense of financial autonomy! But I also think you should consider setting up a joint account solely for shared expenses, where both partners contribute a predetermined amount each month.
• Respect each other's financial decisions: Avoid judgment or criticism regarding their financial choices. Shaming your partner will only make money a more tense subject.
• Get a Prenup: If you are in a serious long-term relationship, STRONGLY consider a legal agreement that outlines the division of assets, income, and financial responsibilities in case of a separation or dissolution of the relationship.