I am only going to talk about heterosexual marriages, as I don’t know enough about other types of marriages. I’ll try to invite some same-sex couples to talk about how they tackle their money, but some of the general advice here should hold water for all sorts of marriages.

As a woman, I strongly recommend that you continue to maintain a separate account after marriage as well. This has not got anything to do with your husband or how much you trust him. But it’s a matter of financial independence for a woman, and it should ALWAYS be a priority.

Similarly, I also suggest that the guy in the relationship maintain a separate account for his expenditure and his exclusive investments. Otherwise these things get lopsided and you end up having conflicts around money.

Now I’m not saying that the couple should have separate accounts and thats the end of the road for them. Not at all.

After some thought, my recommendation is to have three accounts between the two of you. One personal account each and one combined account. The combined account is for everything you plan on doing together.

The reason is to maintain both separate and combined accounts is to get a certain sense of independence post marriage but also, to capitalise on the financial advantages of being married.

How to segregate the cash-flow between the personal account and the combined account?

1. Equal contributions to the bank account irrespective of the salary
2. Equitable contributions based on how much you make
3. Month-on-month decision if there is irregular income.

What are the things the combined account can be used for?

1. Mortgage
2. Combined loans
3. Household expenses:
   1. Rent
   2. Groceries
   3. Bills
   4. Subscriptions
4. Child-care expenses
5. Child(ren) related investments
6. Combined investments
7. Family vacations
8. Insurance

What are the personal accounts used for?

1. Personal expenses (more like personal luxuries, since most expenses will already be covered through the combined account) – gym, dining out, subscriptions for self, shopping for self.
2. Emergency funds
3. Savings
4. Investments

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