You're in love, probably living together, and now the dreaded question comes up. No, it's not marriage: It's the possibility of a joint bank account, versus the option of remaining financially separate.
With one in five millennial couples identify money as the biggest challenge in their relationship, according to a study by Fidelity Investments, it's hard to find common ground about long-term goals, let alone agree on whether you should open a joint bank account together.
That said, marrying your accounts can provide key budgetary and legal benefits for your finances, meaning there's no one-size-fits-all approach.
To that end, couples should take strides to educate themselves on the benefits and drawbacks of opening up a joint account together — and sooner rather than later. Check out this video to get the lowdown so you can decide what's right for you and your (potentially shared) money.