We received this question recently, and thought it was worth turning into a quick blog post:
Q: Can someone please answer this questions? Do we have to tell our spouse what’s in our savings account even if we have separate accounts?
While there are many who would question why spouses even need separate accounts, there is no “rule” that says you have to tell your spouse what’s in your account. At the same time, why wouldn’t you? There are many things that stress a marriage, and keeping financial secrets is one of them. If the two of you are one … partners … teammates, and are on the same journey towards the same destination, it makes sense to be transparent. If it causes friction in your marriage to keep financial secrets, and you have nothing to hide, eliminate the secrecy by opening the books.
Psalm 34:14 says seek peace and pursue it. If the way you currently handle your finances is stealing the peace from your marriage, we encourage you to amend your ways … pronto!
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