While appearing on the Marriage Can Win podcast, Attorney Aaron Thomas was asked how couples can manage their financial habits for a healthy marriage:
Probably even more important than the assets or the debts that each spouse is bringing into the marriage are the financial habits that they bring into the marriage. One of the things that we often see is a couple come in and they're concerned that one spouse is a spender and the other one is a saver. How do you address that type of situation? One way is to put the couple's finances into one account. All of the income goes into one account, but each spouse will get an allowance each month, $1,000 to the husband, $1,000 to the wife. That way they can spend the money however they want. It goes into their separate accounts.
Each spouse doesn't get a say in what the other spends their money on. For example, the wife may spend more money on clothes, but the husband is going to have the new iPhone when it comes out every year. Each spouse's purchases may look like a waste to the other, but they don't get a say because they each have their own money. And they always know that the money is going to be there to pay the bills, save for retirement, etc.