{"id":3967,"date":"2021-02-11T17:04:53","date_gmt":"2021-02-11T16:04:53","guid":{"rendered":"https:\/\/cowrywise.com\/blog\/?p=3967"},"modified":"2023-12-13T19:21:46","modified_gmt":"2023-12-13T18:21:46","slug":"money-duo","status":"publish","type":"post","link":"https:\/\/cowrywise.com\/blog\/money-duo\/","title":{"rendered":"Money Duo: Private Joint Savings Plan for (would-be) Couples"},"content":{"rendered":"\n

>> Go to the updated version of Money Duo<\/strong>: Money Duo 2.0<\/a><\/p>\n\n\n\n

One in five people thinks their partners are financially irresponsible. Such thoughts are 10x more likely for breakups according to Policy Genius<\/a>. When people decide to start a relationship, they unconsciously agree to share almost everything. However, one aspect that seems to be ignored or avoided is finance. So, it is of little wonder why Policy Genius arrived at that conclusion. <\/p>\n\n\n\n

According to O\u2019Keeffe Merric, a financial advisor, the first step to fixing this is to be transparent. We have a guide on how to approach that with money dates<\/a>. Transparency sets the foundation for bonding together financially. Building upon that, the next step is working somewhat together. <\/p>\n\n\n\n

Separate Finances vs Joint Finances<\/h2>\n\n\n\n

To be clear, it is fine to maintain some separation with your finances. There are pros that come with some level of separation but there’s a major con that comes with outright separation. This is found in the inability to clearly plan for joint goals, as you have no idea what your partner can afford. Planning aside, working together builds trust by assuring your partner that they’re involved in an integral part of your life. With Money Duo, you get the best of both worlds.<\/p>\n\n\n\n

How Money Duo Helps Joint Savings <\/h2>\n\n\n\n

On February 6, 2019, we launched Cowrywise Savings Circles<\/a> for group savings and investments. Since then, it\u2019s been amazing seeing how different groups have challenged themselves to hit milestones they couldn\u2019t have achieved if they went solo. There truly is power in numbers and as social beings, our clans and tribes are important to us. <\/p>\n\n\n\n

However, when it comes to relationships and money we all desire privacy. One where we share our deepest and most vulnerable selves with just one person. For many, that one person is a spouse and for others, a special friend. In essence, Money Duo is also open to those who are not couples (officially ?). <\/p>\n\n\n\n

With this new feature, you get to set up an intimate money challenge without compromising your personal savings and investments. Once again, it gives you access to the best of both worlds. Finally, it helps you build the needed accountability with your partner as your accountability mate. Looking for a great way to build trust while boosting your money health? This is it.<\/p>\n\n\n\n

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I believe joint savings brought us closer because where your money is, your heart is too<\/strong>.<\/p>\nLisa, 24 on joint savings<\/a><\/cite><\/blockquote>\n\n\n\n

What is Money Duo? <\/h2>\n\n\n\n

Money Duo is a private money challenge that can only accommodate two participants. Once created, the second participant would only be able to join by invitation. Thinking of a good way to start something beautiful with someone? This is one premium way to take your shot. Everyone wants a financially responsible partner, right? <\/p>\n\n\n\n

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