I’m with you here. We also have the joint accounts for our income and family spending. The separate accounts are our “allowance” accounts for pocket money and the odd birthday check from our moms.

The only reason people need fully combined finances is if there is a significant difference in incomes (like one partner works and one is home), or if you don’t trust your spouse to manage money the same way you do. My husband and I make similar income. We have a joint account and both have separate accounts too. We dont fight about money. We’re every day millionaires and just working on paying down the mortgage.

How can you buy your hubby a present if he sees it on the card too 😅

Sorry to hear about their situation. Truthfully, separate accounts doesn’t prevent the asset mess. The court will see those accounts as community property in a divorce.

Don't get married! You can be committed to someone without getting the government involved. The new marriage success rate is abysmal. I'm not going to bet a significant portion of my finances on the flip of a coin.

@@GeorgeKamel Exactly. When you are married, all accounts ARE joint accounts... (In some states, you don't even have to be married if you have been together long enough) And I never understood the "she doesn't have to ask you to spend money and you don't have to ask her" argument... My wife doesn't ask me if she wants to buy something using our joint account. I don't ask her. That said, all of this is "our money" so we obviously will talk about the big items... Together...

Yeah, don’t get married and reap none of the rewards that are possible from a long-term, loving relationship and family. Die miserable and alone, without posterity. Great advice. Sorry, as someone who got it wrong the first time (my husband cheated on me), I am now married to the love of my life, for the rest of my life. A great marriage is worth the risk.

​@@desiv1170 This 100%. A relationship with separate accounts and zero transparency is not a relationship I want to be in, and where I live, after 2 years you're considered to be in a de facto relationship anyway. And yep, our marrige is built on trust, we just discuss the bigger ticket items together. It's really not that hard if you are able to communicate with each other.

Spot on!!! 👏🏼

True, but for that matter no one at Ramsey is either.

What is worldly advice? WTF?

​@@MC-pe4cnAdvice that is comforming to this world. Not advice based on what the Bible teaches.

@@MeakH1 so slavery is comforting advice? Exodus 21

So money isn't the root of all marital problems it's how you two choose to use the money 😮

Good surprises can be fun but separate accounts are how some people find out about hidden extramarital affairs and addictions for which the 'private $$$' is being used. When there's no communication and transparency the trust factor can become an issue.

@@carlaritchie331 How the heck would i have an affair for 100 bucks a month or less, that would risk jeopardizing my marriage? That must be one ugly skank home wrecker.

@@carlaritchie331SMALL ACCOUNTS GENIUS!! Furthermore, why are you goofies worried about “affairs”?!? You CANNOT control if you spouse cheats!! It’s on them! I could care less how much money you have!! A cheater is a cheater! 4 accounts works for some of us that aren’t insecure and trust our spouses..

Exactly, why should your spouse know how much you’re spending on your affair!?

​​@@10RRASKwith Steve's recommendation financial infidelity isn't the only sort of infidelity that's possibly going on....

My plan, we have the same 4 accounts Steve mentioned. Our paychecks are deposited into the central account. From there we each deposit our spending allowance and investment funds into the applicable accounts. We both have full access and control to ALL accounts and once a month we meet to balance and review the central account. For me, it just makes life a little bit easier. It's already a pain to track groceries, light bills, phone bills etc. I don't want to be bothered with tracking how much my wife spent on a pair of pants. Besides, as long as communication is happening what's the difference whether it's a separate account or a line item in the budget?

It's not the four accounts that is concerning. Sure put the set aside budgeted spending money into a separate spending account if that's your thing. It's where Steve at 1:35 ish literally says do whatever you want and don't even check what your spouse is doing with the money. As George said, it's the lack of visibility of where the money is going. Communicating with your spouse on these things (such as money) is a must.

@@punkbassandcovers So would you give your spouse $100 gift and then insist that they report exactly how to you exactly how spend that money or would you saying I am giving this money, spend it how you like? This is basically the same thing. It is not like they did not have a joint account and decided together how to spend that money BEFORE allocating money to the separate account. I do believe that couples should be able to access all accounts, but this is micro-managing and controlling. As far as financial infidelity or cheating, that is a character flaw. A person who cheats will find a way even without separate account. At one time I had my check go split so it went into two separate banks. I was not married, but if a person wanted to cheat this is a way to have a certain amount go into the main account in the first place. I am sure there are other ways to cheat if a person has that character.

Finding a financially literate one you mean

Dave Ramsey was bankrupt and yet you’re still listening to his advice. 🤦‍♀️

Man that’s awesome to hear!!!

The A.I. does it these days. Other vids use the same clips & memes.

Yes do a video on this subject

Yes and have Dave on as your guest since he and RK are friends

He's a fraud who got rich selling abstract motivational gobbligoop, not by actually doing we he recommends to others in that gobbligoop. Same goes for any of these schisters who are putting out "free" seminars that turn into sales funnels.

But it is so much better taking it from a kid on KZfaq right?

@@perotal If you want to take financial advice from Hollywood and some brainless puppet you go right ahead. People on the Ramsey team might not have everything 100% correct, but at least they preach sound fundamentals.

If you don't have enough trust to trust what your partner is doung with their money in a separate amount, maybe you just aren't ready to get married. Usually neither of those decisions is about trust but about convenience etc... except in this comment section, where I see plenty of "they have separate accounts? That means CHEATING WILL HAPPEN!". Like, chill, dude, if you feel the need to control their finances, maybe it's not a good relationship. (Not talking about you but other commenters).

But they are sharing their finances. They made the decision together as to how they want their account setup.

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

That's why I work with "Camille Alicia Garcia," who introduced me to an improved financial community-a verified agency providing insights into how money works, ways to create wealth, and offering free resources like books, courses, and daily lectures. Making this choice has also allowed me to meet new people, proving to be the best decision I've ever made.

@@ThomasChai05 Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.

Yeah for real, "Camille Alicia Garcia" is one asset manager that gives the breakdown of everything on how things are done, joining an effective financial community can be 100% beneficial when joined properly that's all I can say out of experience..

I just googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks

I tell young people to find the bank that works for them when they ask where and how I do it. Too any factors to determine it.

You can tune in and subscribe on Spotify! spotify.link/5MfbUmNYyDb

You could pay cash or if it's online buy a gift card to use to pay for the items.

@@suzy4705 Oh I like the idea of the gift cards, like the Visa prepaid ones or whatever. That's a great idea, thanks!

@@thehonesthiker just check for fees with those visa ones. I think it's usually a better idea to buy a gift card for the store itself rather than visa if you can!

​​@Suzy but with any of those things being a line item on the budget would require an explanation And anytime when you're balancing the book everything is accounted for the show up in the account to both spouse

You can't gift give without the other person noticing. The cash answers doesn't make sense bc most gifts are bought online these days plus I would notice if my spouse took out a lump of caashh would immediately ask why. My husband couldn't buy me a ring bc of this, so he had to have a friend buy it and then we both had to pay the friend back on something I hadn't agreed to pay for (this isn't me complaining about my husband. It was sweet I'm just explaining the awkwardness this situation causes). Now we have separate accounts for fun spending and we gift give from our own accounts. I think the DR team is too restrictive with their advice (more like rules). What works for some doesn't work for everyone.