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The YNAB Podcast

162 - Make It Joint

The YNAB Podcast

YNAB

Consolidation, Total, Budget, Dave, Peace, Money, A, Education, Ynab, Finance, Bankruptcy, Makeover, Fpu, Software, Management, Personal, Need, Ramsey, Financial, University, Debt, Kids & Family, You

4.71.1K Ratings

🗓️ 9 March 2015

⏱️ 4 minutes

🧾️ Download transcript

Summary

When budgeting with a partner... keep it simple. You merged your lives—merge your finances.

Transcript

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0:00.0

Hello, why neighbors, my name is Jesse Meekham and this is podcast number 162 for you need a budget where we teach you four rules to help you stop leaving paycheck to paycheck get out of debt and save more money.

0:21.0

And again, this is part three of a seven-part series relating to managing

0:26.8

money with your significant other. Once you've decided that you're going to take

0:32.4

the plunge, you've decided that you're going to take the plunge, you've tied the knot, you have joined in all sorts of ways,

0:41.2

it's important that you join finances.

0:46.4

There are tactical reasons for it.

0:49.6

Some people say things like,

0:52.4

it's not a joint venture, you know, that you're one, you know, you're combined, you are one unit now.

1:00.0

I believe that you are one, unified it the reason for the joining of

1:05.2

finances if you just wanted it purely from a pragmatic standpoint it makes things

1:11.1

simpler if you've listened to the prior to podcasts, if you are each clear on your priorities,

1:19.0

and if you have laid it all on the table, if you are following Wineabs four rules.

1:25.4

It is very, very easy to manage your money combined.

1:30.9

We have seen some crazy, crazy things people have done over the years.

1:39.0

Assigning someone to pay specific bills like they're a roommate,

1:44.0

making every single, I kid you not,

1:47.0

making every single transaction a 50-50 split transaction between husband and wife where each bears 50% of the burden.

1:57.8

I mean, from a unity standpoint that rubs me wrong, but to each his own.

2:05.0

From a money management standpoint, just looking at the time involved and the mental

2:10.1

overhead, it is pure insanity. So whether you feel like this moral drive to be

2:19.3

one in that way that we don't have to go there I like that but you may not and that's totally

2:25.9

fine what I'm trying to talk about here is just the tactical like nitty gritty

...

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