Listen Money Matters - Free Your Inner Financial Badass. All The Stuff You Should Know About Personal Finance.

You ask and we answer!  Today we’ll discuss joint finances, joint credit cards, stock options, credit card debt, and money allocation. 1.  How do you update your fiscal strategy when combining finances with a partner?  Each person should be contributing but if one makes much more than the other, the contributions should be a percentage rather than split evenly.  Opening a joint checking account where each person contributes the agreed on percentage and use this  account to pay shared expenses. 2.  Should I add my partner who has no credit card to my account or should she get a separate card? If you open a joint card, you each take 50% of the risk.  If you add someone to your card, you take 100% of the risk.  A joint account also builds the credit score for each of you, important when it comes to one day taking out a mortgage together.  That said, unless you are 100% certain not only of staying together but also of the other person’s financial responsibility, keep it separate. 3.  My company is giving out m