Julia Carpenter

speaker

3,850 appearances 71 recordings 1 series first heard Oct 2019 last heard Sep 2024

Julia Carpenter’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How Spending Limits Help Partners Avoid Money Conflicts · 27 Jul 2023 podcast

So not always. matched

I know from previous reporting and from talking with financial therapists and financial advisors that couples who can have healthy conversations about money are often happier. matched

And there's a lot of research out there that shows that couples who combine finances are wealthier, happier, and have higher levels of relationship satisfaction. matched

No. matched

What matters is that you two are not even necessarily sharing all your money, but just sharing something, sharing a goal, sharing a credit card, sharing expenses, something that enables both of you to talk more about this and also requires the transparency. matched

It's very personal. matched

I talk to couples who have levels as low as $100, and I talked to one couple who said that there are levels as high as $10,000. matched

So it's specific to what your goals are as a couple. matched

So if you were trying to save for a given thing or pay down debt, that level might maybe be lower. matched

If you're trying to live a certain lifestyle or not do some of those other things, maybe your level's higher. matched

Maybe you both make more money. matched

Maybe you make less money. matched

The thing that all of these experts I spoke to recommended is that you both need to agree on the number and be really honest about it. matched

I know, and it's such a nice idea to think that everybody is always wanting to surprise each other or gift things to each other. matched

But I think most of the couples I talk to, they would rather have the peace of mind that this rule brings on a daily basis and forego some of those special occasions, if that be the rule. matched

I know, but it also shows like in a way that they respect that rule then and they want to do it. matched

Also, I shouldn't make mention that all of the financial advisors I talked to, all of the financial therapists I spoke to for this, this is not a hard and fast rule. matched

It's not like somebody slips up one time and you have to break up or someone forgets. matched

Or somebody wants to change the limit, which has happened to one couple I spoke with. matched

They originally had their limit at $500. matched

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