finance

When I got married, it would’ve been helpful to have a blueprint of how other couples structured their finances. The below system is a possible way of doing it, using three pools — one joint and two individual. The joint pool consists of at least three accounts — savings, checking, and investment accounts. The individual pool for each spouse consists of at least a checking account per individual. With these accounts in place, income is allocated to accounts as follows:...

When my ex-wife and I divorced, sorting out the financial side was the biggest logistical headache that we had. Not wanting to deal with this overhead in the midst of the emotional challenges we were facing meant that we put off formalizing our divorce for a long time. Taking just two simple steps before tying the knot would have made our lives significantly easier. The first step is to know the separation rules for your state as they pertain to finances....