Yours, mine or ours?

Once partners have clarity on the amount each one makes, the next complex question is whether each one keeps their money with them and takes responsibility for various expenditures, or if both the incomes are pooled into a common account (to which both have access) and all dues paid for from that. For example, a couple can reach an agreement to keep the earnings in their own account and mutually decide on what expenses they will be responsible for. One person will be responsible for paying rent and any loans due, while the other will be responsible for groceries and the kids’ school fees. Frankly, there is no one right way of doing it. It is up to each couple to try and figure out the method that works best for them.