“Can’t buy me love, love
Can’t buy me love
I’ll buy you a diamond ring my friend if it makes you feel alright
I’ll get you anything my friend if it makes you feel all right
‘Cause I don’t care too much for money, money can’t buy me love
I’ll give you all I got to give if you say you love me too
I may not have a lot to give but what I got I’ll give to you
I don’t care too much for money, money can’t buy me love
Can’t buy me love, everybody tells me so
Can’t buy me love, no no no, no
Say you don’t need no diamond ring and I’ll be satisfied
Tell me that you want the kind of thing that money just can’t buy
I don’t care too much for money, money can’t buy me love”
People, and women in particular, almost always face vulnerable financial times at some point in their lives. Often, this is caused by negative major life events such divorce, widowhood, job loss or extreme economic downturn.
One of the biggest issues in marriages today is money. Couples fight about not having enough, spending too much, being too focused on work, not focused enough on work, etc. Every individual has their own “comfort level” of money they need in the bank to feel safe. We all have our own “risk tolerance” that we are able to stomach with our investments.
The registration of your assets is a deeply personal decision. Most of my clients who are couples have a joint account for their money markets, and sometimes their stock portfolio and links to their kid’s college funds. If spending is an ongoing “issue” in the marriage, I sometimes recommend that each partner open up a single account for discretionary spending that is within an agreed upon budget.