This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Be a conscious participant in all shared finances
It’s easy to let the person who is most skilled at finances or enjoys handling the money take both reigns. But when it comes to relationships and money, both parties need to stay actively involved to ensure neither person is left in the dark about impactful decisions.
When you let your partner handle all of the financial responsibility, there are no accountability mechanisms to ensure you both agree on all of the decisions being made.
If you’re intimidated by money, it’s time to educate. Education permanently relinquishes fear and empowers your mind.
Unexpected Occurences
Many people who allowed their partner to handle the finances have come face to face with several surprises, including:
Astronomical credit card debt
Unpaid and past-due bills
Wrecked credit scores
Expensive addictions
No account access
Identity fraud
No money
Sometimes, your partner does not have your best interests at heart, and sometimes they do. There are also many cases where the partner who is “better” with money doesn’t know what they’re doing.
Nothing comes close to unified decision-making. Two sets of eyes are always better than one. It’s also important to remember that because someone seems skilled at managing finances doesn’t indicate they are handling the money successfully.
Stay In Tune With Your Finances
Credit card statements: Are the transactions you see normal, approved, and valid?
Bank statements: Is there more cash flow going out than coming in?
Bill payments: Do any of your accounts have outstanding or past-due balances?
Loan statuses: Are payments consistently being made on time? Is the loan balance decreasing?
Credit score and profile: Are all of the credit cards shown on your profile accurate?
Retirement Savings: Are you on track for retirement or behind?
Budget: Do you and your partner have a budget? If so, are you two following the budget?
Access: Do you have easy access to all of the accounts you and your partner share? Do you have usernames and passwords for the accounts?
Spending: What is the typical spending each month? If you maintain this level of spending, will it affect you positively or negatively?
Overall Financial Health: Are you consistently meeting your financial goals and staying on track?
Investments: How are your investments doing? What is the average rate of return? What are the losses? Do you notice any withdrawals or weird fees?
In the case your partner is no longer around, would you be able to manage your finances successfully? The answer should always be yes.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.