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    Unmarried Couples: Should You Combine Finances?


    Cohabitation has become increasingly popular in the last 30 years, with U.S. adults aged 18 to 44 more likely to have cohabitated (59 percent) than have been married (50 percent).[0] According to the U.S. Census, the number of unmarried partners living together has nearly tripled from 6 million to 17 million between 1996 and 2017.

    Since many unmarried couples are now joining forces, they may have questions about how to manage their money together. Traditionally, married couples would combine their finances into joint accounts.[1] This is still an option, but couples are also opting to keep their finances separate, while contributing to joint expenses.

    For couples who are considering combining their finances, it’s important to have open and honest conversations about the arrangement. Here are some important questions to consider: Do you have any debt? What is the amount of your debt? What are your aspirations for your finances? What are the most important aspects of your finances? What are your aspirations for retirement?[2]

    Having these conversations is important for any couple, but especially for those who are not married. Talking about your individual and family finances can enhance your relationship and help you make better financial decisions together.[3] Ultimately, the decision of whether to open a joint account with your partner is deeply personal.[4] If you do not wish to do so, there are other alternatives, such as exchanging money between yourselves to cover shared costs.[4]

    0. “Homebuying tips for unmarried couples” Yahoo! Voices, 3 Feb. 2023,

    1. “Financial Steps to Take Once You're Married in 2023” Benzinga, 10 Feb. 2023,

    2. “15 Financial Questions to Ask Before Marriage” Market Realist, 9 Feb. 2023,

    3. “12 Money Talks with Your Partner That Will Improve Your Relationship” Yahoo Finance, 11 Feb. 2023,

    4. “Should We Have a Joint Bank Account as an Unmarried Couple?” Purdue Exponent, 11 Feb. 2023,

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