In this video, we explore the different ways couples can effectively manage their money together. We start by discussing the importance of getting on the same financial page, as money issues are a leading cause of relationship stress and divorce. Key statistics highlight how pervasive this problem is globally. We then cover 7 of the most popular money management approaches used by couples: 1) Fully joint finances 2) Separate "yours, mine and ours" accounts 3) Partial combined system with joint and personal accounts 4) Proportional contributions based on income percentage 5) One joint pot with personal budgets 6) Living off one income while saving the other 7) Splitting responsibility for specific bills. For each method, we outline the core concept and then parallel the potential pros and cons to consider. We discuss how the right approach depends on factors like financial habits, income levels, existing debt, future goals, and overall trust/transparency as a couple. There's a lot of goodness in this video, so I hope you enjoy it.

Feel free to ask questions in the comments. Thank you for watching!

Disclaimer This content is for education and entertainment purposes only. Rohan Rath does not provide tax, investment, personal or career advice.

Timestamps:
00:00 Introduction
01:02 Factors To Consider
04:24 Ways To Manage Money
04:30 Method 1 Fully Joint Finances
05:17 Method 2 Separate "Yours, Mine and Ours" Finances
06:02 Method 3 Partial Combined Approach
06:46 Method 4 Proportional Contributions
07:32 Method 5 One Pot, Personal Budgets
08:07 Method 6 One Income, One Expense Pot
08:47 Method 7 Split Responsibility for Bills
09:32 Recommended Approach

About Me and Why This Channel Exists:
My name is Rohan Rath, and I am originally from India. I immigrated to Canada in 2019 to pursue my MBA (Masters in Business Administration) at McGill University in Montreal. When I was looking at student loans and financing options in 2018, I became very interested in finance. Over the last 6 years, I have immersed myself in learning about personal finance and investing. As a newcomer in Canada, I took a beginner approach to learning. I started learning everything in a structured manner through some courses, a ton of reading, and plenty of YouTube videos. It was a difficult path, and I spent 1000s of hours learning about personal finance and investing in North America. At one point, I spent over 10 hours a day doing this. I learned about savings, expense tracking, taxes, investing in value and growth stocks, and even took the time to understand what's happening in emerging sectors such as Bitcoin and Crypto.

This financially driven mindset also helped me pay off $50,000 in student loans in 1 year and accelerate my investments. I now work as a Product Manager in one of Canada's largest organizations and live in Vancouver, BC. But with all this knowledge about finance, my desire to talk about these topics kept increasing. This is what led me to start this YouTube channel. I am now sharing my learnings and hope that others, especially immigrants and newcomers in Canada, find information from someone who understands their journey. The aim would be to learn together and reach our financial goals together.