The Money Couple Minute - Can Separate Savings Accounts Help You Save?

For all their potential problems, separate accounts do have some real benefits. One of the biggest is that separate accounts can help couples save money. For the first time in 16 years, the United States population have a positive savings rate. That means more and more people are taking their savings seriously and finding ways to build a strong financial future. Separate accounts give you the ability to create a clear, easily accessible savings plan that will motivate you to keep saving!

Use one account as the primary savings account. Some couples put all of one partner's income into a savings account. This not only helps them build a nest egg for future investments, it also trains them to live on one income so they can survive a job loss or other changes.

Use your employer savings plans. Even if you've got a great savings plan of your own, take advantage of your employers' 403(b) or 401(k) plan. If you are both employed, be sure you are both getting this benefit.

Keep dreaming. We find that couples often set up their savings plan and then never talk about it again. Instead of thinking of savings as a done deal, consider it your dream fund. What kind of future do you want to build together? How can your savings help you get there? Learn more about how to dream together in First Comes Love, Then Comes Money.