Steve Harvey is a world-famous comedian and talk show host. He is as famous for his sense of humor as he is for his advice. He often talks to his crowd between tapings of Family Feud and bestows some fantastic knowledge on them about love, money, and more. In a recent clip going viral, Harvey opens up about financial tips that have brought a lot of joy and independence to his marriage. He calls it “the best advice [he] ever got.”
Financial strain can be the death of any relationship. Times are tough, and arguing over money could be the end of a promising union. Especially in these times were a lot of people are struggling to find work and maintain stability. Harvey spoke to the crowd and let them in on some sound advice he got for his financial advisor. For example, he says that every couple needs four bank accounts if they hope to maintain financial independence and cohesiveness. He posted the clip to his Twitter with the caption, “If you’re a couple, you need a minimum of 4 bank accounts, and here’s why…”
The first account should be the central hub for all your money. As Harvey explains, this account takes care of all the family essentials. All the bills, expenses, etc. This main account will be where all the couple’s money goes first so that all the necessary things that need to be paid for can get covered first.
The second account is a joint savings account. He makes sure to specify that this account should only function with a two signature authorization. This means that both parties need to sign off for any money to be moved out of the savings. This keeps both parties responsible and ensures that the money is protected and genuinely being saved, which is the intention.
The third and fourth accounts are personal checking accounts. In these accounts, each partner is entirely responsible for their own money. But, the most important part, they have no say over each other’s personal accounts. “You decide what the allowance is for each of the people. I can’t check it; I can’t go behind it. She can’t say s*** to me about mines.”
He goes on to say it has helped relieve a lot of stress in his marriage and could be really useful to other people. He calls it the “best advice he ever got” and says it holds down a lot of arguments in his household. He goes on to say, “now, if you spent your money in your own account… I’ll see you next month.” His last tidbit of advice for the men in the crowd makes sure that the woman’s allowance is a little more. He notes that the “maintenance” for women is a little more expensive. “The woman should get more money in her account.”
It allows a married couple to maintain some individuality.
If you’re a couple, you need a minimum of 4 bank accounts, and here’s why… pic.twitter.com/PAfISQSOWU— Steve Harvey (@IAmSteveHarvey) August 4, 2021