It is a good idea to have a feet-on-the-ground approach to your joint money lives
How should we share expenses? Should we share bank accounts? This is a question from a young 20-something millennial who has come to interview me for a woman-focused website. She’s about to get married and is wondering how to deal with marriage and money. Some stories her friends have told her worry her no end. How did you do it, she wanted to know. There was no concept of his or hers, we just pooled everything and spent as little as possible, I say. But I think the lessons from our lives of 25-30 years ago will have little resonance for today’s young. They are starting off in a better place in many ways. For most of my generation there was no question of my money or your money—it was the family’s money. In many cases, it was the joint family money. But for the Indian urban mass-affluent millennial, the deal is now very different. They rightly should think about and sort out money matters before they get married.