As Seen in Bankrate: Many married millennials are keeping separate bank accounts - here are the pros and cons of shared finances
Millennials are doing things differently from past generations, especially when it comes to their cash.
According to a 2018 study by Bank of America, 28 percent of millennial couples are more inclined to keep finances separate than older generations, and when considering starting a family, finances have a major impact.
Not only that, but 25 percent of millennials polled in the BofA survey noted that finances are a top source of tension in their household, which may be one reason millennial couples are keeping some of their assets separate when getting married.
Tatyana Bunich, president and founder of Financial 1 Wealth Management Group says that she is seeing more and more millennials not joining their bank accounts. Instead, they are keeping separate accounts and pooling together funds for a separate shared account. Read More