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Financial management for couples: When it takes two to manage money
Conflicts over finance rank high among couples, says financial expert
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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
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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.
