On the exciting journey to cohabitation, couples embark on a journey full of important decisions and, among the most crucial, is the management of shared finances. What is the best way to manage common expenses? How to ensure that the electricity bill, the rent and the supermarket purchase do not become a headache?
Well, broadly speaking, there are two options: open a joint account to manage common expenses or maintain total financial independence with individual accounts. The second option, however, has a but: it is necessary to continually calculate what each person has paid, which can involve an exhausting coming and going through Bizums.
It is worth understanding that opening a joint account does not mean giving up individual financial independence. It is possible to use this shared account exclusively for common expenses, while maintaining individual accounts for managing income, savings and personal expenses.
However, it is important to keep in mind that not all banks offer free checking accounts with commission-free cards for each holder, as explained by the financial products comparator HelpMyCash.com. The ones below do give you shared accounts and free cards.
