Financial management for couples: When it takes two to manage money

Mr Liu Yuantai and his wife Florence have a joint account for shared expenses that they both contribute $500 to each month. One advantage in doing so is that each person retains some degree of personal space and financial autonomy, as opposed to havi
Mr Liu Yuantai and his wife Florence have a joint account for shared expenses that they both contribute $500 to each month. One advantage in doing so is that each person retains some degree of personal space and financial autonomy, as opposed to having only a single joint account, according to Ms Evy Wee, head of financial planning and personal investing at DBS Bank.ST PHOTO: DESMOND FOO

Conflicts over finance rank high among couples, says financial expert

Financial planner Milton Ho put his persuasive powers to good use when he justified to his wife that spending $500 on a special gaming chair would be money well spent as its ergonomic design would help with his back problems.

After some debate, she agreed, although they ended up shelling out only $400 as they bought the chair during a sale.

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A version of this article appeared in the print edition of The Sunday Times on January 19, 2020, with the headline 'When it takes two to manage money'. Print Edition | Subscribe