Author note: Hunter Kern is a sales director by day whose money tips have been featured on Business Insider, LifeHacker, AOL and Mint.
Should you combine bank accounts when you get married? Of course you should.
As a 34-year-old married dude with two kids (and another on the way), I just can’t relate to the 1 in 3 millennials who keep their money separate from their spouse or the 1 in 5 millennials who don’t even know how much their spouse makes.
And the trend of not combining finances with your spouse isn’t going to slow down. Here’s why:
- Millennials are getting married later in life. In the 1980s, the median ages to get married was 25 for men and 22 for women, whereas today it’s 29 for men and 27 for women.
- Student loans continue to be a burden. I get it. Inheriting $100,000 of debt is a tough pill to swallow.
- Dual-income households are more common, and 49 percent of working women are the breadwinners in their family.