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Theres the chores to divide.
The TV shows to share (while resisting the urge to skip ahead).
The finances to mingle starting, in many cases, with a joint checking account.
Thats why its crucial to establish clear ground rules to protect your money and your relationship.
Heres what they say you should do before setting up a joint account with your partner.
Both are aware of how much money is coming in and going out as a household.
To maintain financial clarity, make transparency your top priority.
Dorman told Brides that setting expectations about how youll each use the account is essential for successfully managing it.
Together, you should come to a consensus about what kinds of expenses the account will cover.
Should it only be for necessities?
Major expenses, like household appliances?
Are splurges allowed, and if so, should they stay under a certain limit?
When can you or your partner make emergency purchases without consulting each other?
Both partners should be aware of the account balance and adjust spending accordingly if funds are running low.
After all, money is just one part of the equation.
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