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Sunday, 22 March 2020

Personal finance questions about a joint savings with USAA?

Jeannine Vassie: I totally agree with A Tax Lady. SEPARATE accounts. Then your choice on one, two or three accounts after you are married.Each of you bank as much as you can. You will need it. And someday he may be out of work, or you may be home with the children, so it is give and take as to who earns and who pays, over the course of your marriage. The most important thing is that you basically agree on money matters and spending issues, so focus attention there during your pre-wedding counseling....Show more

Donte Liversedge: First rule, TWO accounts until you are married. You can still agree to share the bank statements and paystubs.If you have one account, either one of you can spend the money; if one of you owes money, all of it can be garnished; if one of you dies, the other could be taxed on 1/2 of it.

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