Minimalism Happened To Our Finances And Simplified Our Budget

As I journey toward simplifying my family’s life, I have had to evaluate just about every aspect of our existence. Finances did not escape this exercise. In fact, finances are probably one of the most affected areas of this minimalism journey to date. 

One day I looked up and realized that we have 3 mortgages and far too many bank accounts. I’m not suggesting that this financial picture happened without my knowledge, but sometimes you’re just living life without pausing to take inventory.

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Merging Our Bank Accounts Was The Best Decision For Us

All couples have a unique way of managing money. What works for some may not or will not work for others, and sometimes it’s a combination of practices that ends up being ideal. We have a hybrid model but when we got married our bank accounts got married too. And merging our bank accounts was the best decision for us.

Some couples keep separate bank accounts and one joint account where they each place their contribution to the monthly bills.  But the majority of earnings are kept separate. Others don’t have any accounts together and they decide which bill each person covers. It’s really a personal choice. Ultimately your decision should result in positive financial outcomes for the family and not just one individual. 

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