Building Us

The Best Way to Join Money in Marriage

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Should couples have married or separate financial accounts? Dr. Matt Morris, LPC, LMFT, and Erik Garcia, CFP®, dive into the pros and cons of each – as well as some of the underlying psychology. 


The goal of today’s podcast is not to defend separate or joint accounts. However, we do want to explore some of the obstacles around joining accounts. Establishing a healthy dialogue about finances can help couples get on the same page and result in happier relationships in the long run.


Episode Highlights:

  • Erik explains the point of today’s podcast episode. (2:06)
  • Does Matt think that money is often a more difficult part to integrate with relationships? (4:24)
  • Erik gives a couple of interesting statistics about couples having joint or separate bank accounts. (8:22)
  • Erik shares some of the pros and cons of having joint accounts. (9:58)
  • Matt explains the first obstacle of merging your accounts. (15:56)
  • Matt gives his thoughts on the next obstacle: the idea of control. (20:18)
  • Matt shares why income disparity has become a common concern. (24:02)
  • Matt shares his thoughts on the final obstacle, which is debt disparity. (27:32)
  • Matt mentions what his couples regularly tell him. (30:31)
  • Matt gives some advice to the couples that are navigating their finances. (31:41)


    • Key Quotes:

    • “I want people to have the healthiest relationship that they can possibly have. Being connected in a very healthy and secure way with our spouse can be one of the most meaningful things we experience in this life.” - Dr. Matt Morris, LPC, LMFT
    • “If you and I were to go into business together, we would probably have a joint business account to help us meet the goals of the business. So, just for relationships, for family, there's an aspect of family that's business. To meet the goals of the family business, you probably would enjoy yourself in an account.” - Dr. Matt Morris, LPC, LMFT
    • “Any kind of secret, any kind of hidden stuff, any kind of suspicion, lie, paranoia, ends up eroding that connection and eroding that feeling of safety and security. Financial transparency is a way to kind of just bring us all back on the same page. If this is what we have, this is where we're going.” - Dr. Matt Morris, LPC, LMFT


      • Resources Mentioned:

      • Erik Garcia, CFP®
      • Dr. Matt Morris, LPC, LMFT
      • Garcia Financial Group
      • Matt Morris & Associates
        • ...more
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        Building UsBy Dr. Matt Morris LPC & LMFT, Erik Garcia CFP®
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