A joint account may be a smart option for managing shared expenses, but it also can cause disputes. So why not lay down some ground rules first?
So, you’ve reached that stage in your relationship where you’re comfortable sharing your financial habits with each other and have decided to set up a joint account.
But before you go ahead with it, it’s a good idea to draw some boundaries. After all, money matters can be tricky, and you wouldn’t want them to affect your relationship, right?
How to get started
1 Fix the contribution amounts
Elsa Lim, finance coach and founder of www. moneyfitcoach.com, suggests discussing who should be the primary and secondary contributors, and how often the account should be topped up.
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