U-Ming Lee
Feb 17, 2023

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Have you considered opening a new bank account, say, "the Vee Family Account?" with both of you contributing to this account. Seed this new account with maybe $10-20K. Each time either of you gets paid, 80% of take-home pay goes to the household account (of course, this proportion is negotiable). The money in the household account pays for everything, including the mortgage, utilities, any improvements you want to do to the house, date nights, or even occasional splurges for either one of you.

But definitely retain 20% of your take-home pay in your individual accounts. In the event any one of you momentarily takes leave of your senses and decides to, say, blow everything in Vegas on a 50-50 bet on black, at least the remaining partner has something to help everyone get back on their feet.

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U-Ming Lee
U-Ming Lee

Written by U-Ming Lee

I write about business, finance, and freelancing life. | How to contact me: https://linktr.ee/uming.lee

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