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30 Days of Makeovers: Zap the Money Tension from Your Marriage
What would it take to change your life for the better? It may be less than you think—we’ve got mini-makeovers to help you upgrade everything from your workout to your weekend. #28: 3 golden rules every couple needs to manage their money—and their money issues.
1. Keep it private.
Making cutting financial remarks in front of friends helps no one. Ditto, ambushing each other in public about big purchases or financial decisions you've made. You'll only alienate your spouse and make everyone else uncomfortable.
2. Remember—yours, mine, and ours.
All family spending and saving should come out of a joint account. Then divvy up anything that's left over into separate accounts that you each manage without input or judgment from the other.
3. Update, update, update.
You handle the monthly bills, your spouse takes care of the retirement accounts. That's fine. But what I will not tolerate is either of you staying in the dark. Sit down and brief each other once a month on the stuff you handle.
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Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.