#MoneyMonday| Some say one way you can keep control of  money is to maintain a separate bank account, one that your partner  has no access to . . . and maybe doesn’t even know about.

There are several advantages to keeping this kind of “secret” fund, but there are a few potentially significant pitfalls, as well.

From a legal standpoint, there is nothing wrong with having a secret fund even though you are married. The law certainly does not require that married couples keep joint accounts, or that a spouse gives full disclosure to the other spouse regarding finances – that is until you start divorce proceedings.

 

Guest: Gerald Mwandiambira, Award winning CFP® Professional,Speaker and Author For professional financial planning and wealth creation And management

Website: www.askgerald.co.za

You tube channel : What they don’t want you to know about money

Twitter: @AskGeraldCFP