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re: How to Get Rich - netflix
Posted on 4/24/23 at 9:16 am to hiltacular
Posted on 4/24/23 at 9:16 am to hiltacular
quote:
I would assume that most of the people with separate accounts simply don't care enough to make the effort of closing an account, joining another, changing your auto-deposit etc etc.
I’ve seen quite a few threads about this and never seen anyone make this argument
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Posted on 4/24/23 at 9:19 am to JohnnyKilroy
quote:
Like they may "contribute" to the joint expenses like rent/mortgage and household bills, but ultimately the money is still viewed as theirs and theirs alone to manage/spend/save as they see fit.
“I didn’t get my good job to have to share it with the person I chose to spend the rest of my life with who makes less than me”. Obviously not worded like that, but that’s the gist. But feels incredibly selfish to me to say I wouldn’t share my wealth with the person I’m supposed to love the most in the world
Posted on 4/24/23 at 9:20 am to Drunken Crawfish
quote:
I'd be curious to see the age breakdown of couples with joint vs. split accounts. We are both right around 30 and our friends mostly have similar setups.
I’m late 20s and have joint, but agree many people our age have the split setup. I think it’s a poor decision being promoted for people our age to become consoomers and not promote good financial habits
Posted on 4/24/23 at 9:51 am to Drunken Crawfish
quote:
Each deposit a split of mortgage payment and bills into our "bill account" then have a separate checking accounts. I'd be curious to see the age breakdown of couples with joint vs. split accounts. We are both right around 30 and our friends mostly have similar setups.
Exactly how we do it. We are in mid 30’s. Rarely if ever have money related arguments. It works like a charm for us.
I can’t understand all these joint account advocates thinking there is only one way that 3+ billion adults on this earth can make a marriage work
Posted on 4/24/23 at 9:52 am to bod312
quote:
I am not saying it can't work for couples but maybe having a joint account would work for the healthy couples who are currently split as well.
I feel like my wife and I would probably fall into this category but and are just a bit scared to screw up something we have going that currently works fine for us and doesn't cause any grief or arguments.
And I laugh at alot of the anti-separate account people and their opinions because they seem so far from the truth of what me and my wife have had going for 9 years.
EX: “I didn’t get my good job to have to share it with the person I chose to spend the rest of my life with who makes less than me." This is making the assumption that I'm selfish enough to just choose to never buy her or help her buy nicer things for herself which is false. Like i'm shopping at Saks Fifth Avenue and she's shopping at Good Will
Posted on 4/24/23 at 9:59 am to Upperdecker
quote:
“I didn’t get my good job to have to share it with the person I chose to spend the rest of my life with who makes less than me”. Obviously not worded like that, but that’s the gist. But feels incredibly selfish to me to say I wouldn’t share my wealth with the person I’m supposed to love the most in the world
I don’t think anyone would argue with you that this mindset will ultimately lead to divorce. The person with this mindset isn’t suddenly going to be a different person with a shared account.
It’s a bit ignorant to assume that people with separate accounts have this mindset and don’t want to share their wealth with their spouse.
Posted on 4/24/23 at 10:00 am to hiltacular
quote:
I would assume that most of the people with separate accounts simply don't care enough to make the effort of closing an account, joining another, changing your auto-deposit etc etc.
I certainly think there's some truth to this, especially in a modern environment where couples are getting married later in life and have grown accustomed to their pre-marriage financial routine. Not that opening and closing accounts or changing auto-deposit and auto-pay is all that hard, I can just see the ease of sticking with the status quo being a factor. Speaking from experience, I do think you reach a point in a marriage where a new financial routine gets established and it makes less sense to keep things separate.
Regardless, I think either system can work, so long as there is full transparency and a shared financial vision.
Posted on 4/24/23 at 10:36 am to JohnnyKilroy
My wife and I share everything financially, whether its savings and checking or retirement planning. It works for us, we view all of our income and savings as belonging to both of us equally. With that being said, she was engaged prior to us getting together and she has said many times that they would've had separate accounts had they gotten married because the guy was just a serial spender and terrible with money.
Our goals are the same and it makes our life easier to keep everything in one place. I say do what works for you, if separate finances work and you're both happy, go for it.
Our goals are the same and it makes our life easier to keep everything in one place. I say do what works for you, if separate finances work and you're both happy, go for it.
Posted on 4/24/23 at 10:52 am to bayoubengals88
quote:
It’s a fun watch. Makes my wife and I feel much better about ourselves financially.
Controversial opinion, but most of the sub par financial situations among couples would be totally eliminated if people acted like they are actually married and had one checking account.
I agree with the shared accounts. It's a marriage, and transparency needs to be paramount in financial matters just like it any other part of the relationship. It's not impossible to accomplish that with different accounts, but it's MUCH more difficult. And I'm all about making this as easy as possible.
My wife and I share checking accounts and we are both aware of what our goals are with our individual 401K's and how we want to invest now and in the future. We periodically check in with each other on this and try to make sure we have all the passwords and information on insurance coverage in case something happens to one of us. If anything, we don't have those sync ups as often as we should.
quote:
A common theme in the show is selfishness. In our marriage we have absolutely no concept of “my money” or “my expenses”. It’s a total, wait for it, marriage.
You have to have shared financial goals just as you do with family, time management, homes, children, faith, etc.
Major purchases absolutely need to be discussed well in advance. That's why those Lexus and GMC commercials where one couple buys the other one a car without them knowing is frustrating. That's going to cause issues some couples, and I think those commercials are borderline irresponsible.
This post was edited on 4/24/23 at 11:01 am
Posted on 4/24/23 at 10:57 am to grsharky
quote:
With that being said, she was engaged prior to us getting together and she has said many times that they would've had separate accounts had they gotten married because the guy was just a serial spender and terrible with money.
Spending habits are a part of what young people need to evaluate in potential partners. It may not be as important as if both partners are compatible in terms of wanting to be parents or sexuality, but it's still very important.
She can be a perfect 10 with an excellent career, the same religion, and similar values across the board. But if she doesn't value saving and meeting shared financial goals as much as you do....there will eventually be problems.
Posted on 4/24/23 at 11:17 am to Drunken Crawfish
I'm in my mid-late 50's. Always had joint checking account.
My parents (married 50+ yrs until fathers death last Dec) always had separate checking. I never asked why. She paid some of the bills out of hers, he paid some out of his. Kinda weird when you think about it. How do you keep that straight? He would write her a check to transfer some money to her account from time to time.
My parents (married 50+ yrs until fathers death last Dec) always had separate checking. I never asked why. She paid some of the bills out of hers, he paid some out of his. Kinda weird when you think about it. How do you keep that straight? He would write her a check to transfer some money to her account from time to time.
This post was edited on 4/24/23 at 11:20 am
Posted on 4/24/23 at 11:40 am to Upperdecker
quote:
Doesn’t sound like healthy marriage to me
You don't know my wife's spending habits. If we pooled our money we would be broke within a week.
ETA: With apps like Venmo, it has made joint bank accounts almost unnecessary.
This post was edited on 4/24/23 at 11:41 am
Posted on 4/24/23 at 11:57 am to Triple Bogey
quote:
Spending habits are a part of what young people need to evaluate in potential partners. It may not be as important as if both partners are compatible in terms of wanting to be parents or sexuality, but it's still very important.
She can be a perfect 10 with an excellent career, the same religion, and similar values across the board. But if she doesn't value saving and meeting shared financial goals as much as you do....there will eventually be problems.
Agreed. In fact he berated her for not getting a residency when she was a candidate and then told her she needed to take the highest paid job she could get even if it meant she was miserable. He wanted to spend her money as fast as she could make it.
Posted on 4/24/23 at 12:47 pm to grsharky
quote:
Agreed. In fact he berated her for not getting a residency when she was a candidate and then told her she needed to take the highest paid job she could get even if it meant she was miserable. He wanted to spend her money as fast as she could make it.
You made me think of it in a different way. I don't think I would marry someone who I did not feel comfortable sharing my bank accounts with. Even with separate accounts it sounds like her ex was going to take advantage of her one way or another.
I have seen a lot of responses saying they don't have separate accounts for x, y, z reason but have not seen much explaining why they do have separate accounts. I can understand the laziness aspect of not wanting to going through the effort.
If you marry a big spender what does having separate accounts provide? If it is a known problem you could work together having a specific joint account for his/her spending account separate from the main house account but it could still be joint. If you are joining your lives together why would you not join the front end of your financial lives together especially when the back end is joined no matter what. Just because there are separate accounts doesn't necessarily separate the liability aspect. I would assume if you need separate accounts due to spending problems that you would be concerned with credit cards your spouse has opened.
Posted on 4/24/23 at 1:16 pm to Triple Bogey
quote:
You don't know my wife's spending habits. If we pooled our money we would be broke within a week.
Who does the saving? Do y’all save money? Do you have to do it on your own? Just seems like y’all are working towards different goals
Posted on 4/24/23 at 1:20 pm to Drunken Crawfish
quote:
I'd be curious to see the age breakdown of couples with joint vs. split accounts. We are both right around 30 and our friends mostly have similar setups.
That’s cause you young baws all married feminazis. Enjoy her taking half your money when she leaves you for the pool guy.
Posted on 4/24/23 at 1:22 pm to BabyTac
quote:
I’m curious though telling ol baw to sell all his DFKG stock when it’s at its lowest. I get the concept of not ‘gambling’ and getting away from chasing/trading but if you’re already in, what’s wrong with giving it some time to come back. It’s not like DFKG is a failing penny stock or anything.
Lol I was watching and wondering on that
Sure new investment buy mutual fund - I think draft king probably doubled from that low?
I guess my question was he long draft king or call options
If options getting out makes more sense
Posted on 4/24/23 at 1:24 pm to bayoubengals88
quote:
Controversial opinion, but most of the sub par financial situations among couples would be totally eliminated if people acted like they are actually married and had one checking account.
I think my wife and I could be more aligned but also think some separation is healthy
Posted on 4/24/23 at 1:56 pm to BabyTac
Just binged the first few episodes last night. The drag queen with a checking account for his dog made me feel much more secure about my financial future, ha!
Posted on 4/24/23 at 2:39 pm to Upperdecker
quote:
50% of marriages fail in divorce. If I had to venture, this would be one of the top reasons
Ding!Ding! Winner. Ask how many of the 30% with separate accounts that are currently married were divorced before this marriage. Watch the next 20% that are married for the first time with joint accounts have separate accounts in their next marriage?
This post was edited on 4/24/23 at 2:40 pm
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