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In a committed relationship, combiningfinancesisnt always easy.
This can be even more complicated when one spouse earns significantly more than the other.
Sacrifices often have to be made when a person earns a fraction of their partners salary.
Finding common ground for the sake of healthy finances is a must, but it will require teamwork.
If you and your partner are in this situation, youre certainly not alone.
Heres a look at how two couples with notable income disparities areworking to build wealth together.
Her salary, we use to purchase real estate to rent out either short term or long term rentals.
He said his salary allows them to qualify for competitive interest rates on their rental homes.
This method has worked well for us.
This includes keeping their cars for 15 years, living in a modestly-sized house and not taking extravagant vacations.
When they got married six years ago, he said, they also had anincredibly small wedding.
Then we paid for a nice meal after our wedding.
Her annual income is in the $100,000 range, while his falls into the $400,000 range.
One method they use is havingmixed and separate finances.
This has allowed them to enjoy a sense of financial freedom, while simultaneouslybuilding wealthtogether.
Its made our conversations about money very comfortable and calm, she said.
We both feel respected and like were pursuing a shared lifestyle while maintaining independence in the relationship.
They held the ceremony on a public dock witharound 50 close friendsand family members.
Most of their budget went toward the event center and food.
Additionally, she said they decided to prioritize spending more money on their home than traveling.
In turn, we only travel a few times per year and make those experiences really special.
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