Skip to main content

Steve Harvey’s Unsolicited Financial Advice for Couples Makes a Lot of Sense

Four accounts is a good place to start

The reality of healthy relationships is that they are not always 50-50. What will actually make your relationship last is teamwork. You and your partner need to match each other's energy in order to function in bliss.

Unfortunately, money is the root of many conflicts between couples. Before you make a long-term commitment to your partner, you need to understand each other's relationship with money. Do you like to save or do you have a treat-yourself mindset? How much debt are you in and how do you plan on paying it off? Are you looking to make major purchases in the future such as a house or a car? Do you keep track of every penny spent or do you tend to avoid checking your balance?

Once you've sat down with your partner and learned more about their money habits, discuss how you're going to manage your earnings and your spending. If you don't know where to start, check out this TikTok posted by @bosslady2uall in which television host Steve Harvey explains how long-term committed couples should manage their money.

Basically, Harvey says that couples should have four accounts. The first one is a joint account that both individuals contribute to. This money will be used toward necessities such as rent, car payments, phone bills, etc. The second account is a joint savings account that both individuals also contribute to and need to consent to if any money is taken out. The last two accounts are the couple's own private accounts with money they can use however they please. 

This method would probably put an end to a lot of arguments. Discuss it with your partner and see if it'll work for you.