How to Achieve Financial Balance as a Couple with a Joint Checking Account in Henderson
Nothing wreaks havoc on a committed relationship like financial issues, whether it be debt, not saving enough, or arguing how much to contribute to the monthly bills. That being said, it is possible to achieve financial balance as a couple when you open a new checking account in Henderson. Make note of the following tips on how to create and maintain a healthy financial relationship with your partner.
Open a Joint Checking Account Henderson
As a couple, you will have shared expenses, and a joint checking account in Henderson can be invaluable. This way you both can contribute a certain amount to the account and pay joint expenses directly from that account. Of course, you can also keep your own personal checking accounts as well. This way you can set aside some discretionary money to spend as you wish.
Make Contributions Based on Percentages
When determining how much money you and partner should contribute to your joint checking account in Henderson, a 50 / 50 split isn't always fair. Generally speaking, you and your partner likely don't make the same amount of money. One option is to have the amount each of you should contribute to your joint account be based on a percentage of the amount each of you earn. Once you have the amount you each will contribute, direct deposit it into your joint checking account in Henderson so it is done automatically every pay period.
Save Money Together
Aside from a joint checking account, you and your partner should also have a joint savings account. Like your joint checking account, you each can contribute a fair percentage of your earnings. This account can be used for emergencies, vacations, or used as money for when you go out on dates.
Help Each Other be Financially Healthy
It’s beneficial to both you and your partner if you’re both individually, financially healthy. Therefore, if one of you have student loan debt or credit card debt, it is best to pay off the debt sooner rather than later. To help pay off any debt, it can be helpful to also factor in higher than minimum payments when calculating how much each of you should contribute to your joint accounts.
For more information about a joint checking account in Henderson or to open an account, please don't hesitate to contact Clark County Credit Union at 702-228-2228 today.