One thing that has been growing in popularity among married couples in today’s world is maintaining separate finances. A Bank of America survey suggests that over a fourth (28 percent) of millennials go this route after they wed.
Keeping separate bank accounts and similar strategies can have many possible benefits. They can be helpful in money management, reducing the potential for financial conflicts and giving a spouse an important safety valve in the event of a crisis situation. However, it is important for couples to be aware of a significant limitation of these strategies.