re: How to Get Rich - netflix

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its hilarious how both you and Upperdecker are so pretentious with your views and everyone is wrong except your way. Its really odd how you think there is only one way to do any of this.

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Bruh

I'm shocked at the number of responses in this thread about not understanding why people have separate checking accounts, and the interpretation is that the partners aren't in a real marriage or are trying to hide something. I've told my story before, but I'll repeat it.

I'm a saver/investor. My wife is a spendthrift. When we first got married we got a joint checking account. We were starting our lives out of college with new jobs and just setting up things financially, so this made perfect sense.

Fast forward a few years into the marriage and I see a credit card bill on the kitchen counter for several thousands of dollars. This was decades ago, so multiply that by the cost of living. I lost my shite. Philosophically, I do not carry short-term debt. It just is not going to happen. It's for suckers, and it makes life harder, especially if you're a dumbass who is ever-expanding how much you owe taking up your free cash flow. Think about the Federal government's spending habits -- it's just stupid and irresponsible.

I had a very direct conversation with my spouse about paying off this credit card, the difficulties and evils it represents, etc. We paid it off, and she stopped using it as an endless bucket of money, but then her eyes turned to what was in our joint checking account.

In her mind, if there's money in the bank, she needs to spend it down to zero. We are both professionals making good money. At one point, I lost my shite when I couldn't spend $50 because she had spent our account down to nothing.

At that point, I went to my bank and got a separate checking account. I told her how much money I would continue contributing to the joint checking account and the basis for that. If she wanted to live in a way to keep us from growing wealth or saving any money, then I would do what I needed to do to stop that for both of us.

She didn't like it. She was pissed. She got "overdraft protection" for the joint account (and continued to pay interest for decades by carrying an overdraft balance). As long as the major bills got paid, I just bit my lip and let her do her financially-irresponsible things with the standing offer that if she ever wanted to get her financial house in order to let me know.

Fast-forward 30 years and she's finally started to figure some things out. She finally understands what I was doing and why. Even though I would explain to her the value of compounding interest, saving for retirement in her 401k, etc. she did these things lightly. She is thankful that I did what I did because we now have millions saved for retirement -- no thanks to her. It's our money because we are in a marriage. We're starting to go on very nice vacations -- because we can, and I pay for them.

Sometimes people are just who they are, and you must accept that. However, you don't have to live with their decisions if you can take action to protect both yourself and them.

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If you're financial goals are aligned, and you are committed to spouse, joint is the only answer. The law sees all money as belonging to both parties for good measure. In the practical sense, both parties should see the joint finances as a tool for achieving mutual goals. The only reason for separate accounts is selfishness

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So you must have joint Facebook accounts as well… right?

I think the poster is trying to make a case for “sharing everything”…

People that have joint FB accounts are strange.

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I'm shocked at the number of responses in this thread about not understanding why people have separate checking accounts, and the interpretation is that the partners aren't in a real marriage or are trying to hide something. I've told my story before, but I'll repeat it.

I'm a saver/investor. My wife is a spendthrift. When we first got married we got a joint checking account. We were starting our lives out of college with new jobs and just setting up things financially, so this made perfect sense.

Fast forward a few years into the marriage and I see a credit card bill on the kitchen counter for several thousands of dollars. This was decades ago, so multiply that by the cost of living. I lost my shite. Philosophically, I do not carry short-term debt. It just is not going to happen. It's for suckers, and it makes life harder, especially if you're a dumbass who is ever-expanding how much you owe taking up your free cash flow. Think about the Federal government's spending habits -- it's just stupid and irresponsible.

I had a very direct conversation with my spouse about paying off this credit card, the difficulties and evils it represents, etc. We paid it off, and she stopped using it as an endless bucket of money, but then her eyes turned to what was in our joint checking account.

In her mind, if there's money in the bank, she needs to spend it down to zero. We are both professionals making good money. At one point, I lost my shite when I couldn't spend $50 because she had spent our account down to nothing.

At that point, I went to my bank and got a separate checking account. I told her how much money I would continue contributing to the joint checking account and the basis for that. If she wanted to live in a way to keep us from growing wealth or saving any money, then I would do what I needed to do to stop that for both of us.

She didn't like it. She was pissed. She got "overdraft protection" for the joint account (and continued to pay interest for decades by carrying an overdraft balance). As long as the major bills got paid, I just bit my lip and let her do her financially-irresponsible things with the standing offer that if she ever wanted to get her financial house in order to let me know.

Fast-forward 30 years and she's finally started to figure some things out. She finally understands what I was doing and why. Even though I would explain to her the value of compounding interest, saving for retirement in her 401k, etc. she did these things lightly. She is thankful that I did what I did because we now have millions saved for retirement -- no thanks to her. It's our money because we are in a marriage. We're starting to go on very nice vacations -- because we can, and I pay for them.

Sometimes people are just who they are, and you must accept that.

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However, you don't have to live with their decisions if you can take action to protect both yourself and them.

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All of the above would be an absolute deal breaker for me. You really should be on the same page as your spouse on money (and religion, and kids) before you get married.

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My brother's wife had around six figures of credit card debt he didn't know about until around six months into the marriage when she was pregnant

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Wow. Is he still married to her? That's rough.

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You're fricked at that point. Yes.

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Prayers to that baw. Hope the marriage is good otherwise. I doubt it though.

Funny this thread started about asking ol baw to sell all his DFKG. Got one related response, but all other responses centered around joint accounts. Lol.

This thread was fun. Bunch of my way or the highway folks from one side of the aisle