CA Explains How Couples Can Save, Spend, and Invest Smartly With 3 Accounts
CA Explains How Couples Can Save, Spend, and Invest Smartly With 3 Accounts
Managing money as a couple is never easy. Between salaries, bills, and future planning, things can quickly become confusing. But Chartered Accountant and long-term investor Vishal Aggarwal recently shared a simple solution on his social media page that is now catching attention. His advice? Couples only need three bank accounts to handle their finances smartly.
Aggarwal explained that opening multiple accounts can create unnecessary complexity. Instead, a couple should stick to one account for the husband’s salary, one for the wife’s salary, and a joint expenditure account. And most importantly, he showed exactly how to use these accounts without falling into financial stress.
Why Fewer Accounts Work Better
According to Aggarwal, couples often get into the trap of opening too many accounts. This makes it harder to keep track of money and often leads to confusion in budgeting. He suggests that the simpler the structure, the easier it becomes to manage income, savings, and spending.
That is why he recommends three accounts only, one in the husband’s name, one in the wife’s, and one shared account for expenses. This shared account, he says, should come with dual authorisation, meaning both partners should have equal say in how the money is used.
How the Expense Account Works
Aggarwal explained that the couple should first sit together and decide the maximum monthly expenses they are comfortable with. Once that number is fixed, both partners should transfer money into the joint account as soon as their salaries are credited.
But here’s where his method becomes practical, each partner contributes in proportion to their salary. This way, the contribution feels fair and balanced.
Example of Salary Sharing
To make things clear, Vishal Aggarwal gave an example. Suppose the husband earns ₹60,000 a month, and the wife earns ₹40,000. Together, their total salary is ₹1,00,000. If they decide that their monthly expenses will be ₹40,000, then each contributes based on their share of income.
For the husband, the contribution comes to ₹24,000, while the wife adds ₹16,000. This joint account then becomes the fund for all household expenses like child fees, joint EMIs, and insurance. By working this way, both partners remain equally involved in financial decisions.
What About the Remaining Salary?
Once the expenses are covered, the leftover money in each salary account does not go to waste. Aggarwal advised that this balance should be used for investments. He suggested channels like stocks, mutual funds, ETFs, or even fixed deposits, depending on personal preference.
In his example, the husband would have ₹36,000 left after contributing to expenses, while the wife would have ₹24,000. These amounts can then be directed toward building long-term wealth or even short-term goals like a family vacation fund.
This method, according to him, is one of the smartest ways for couples to simplify their financial life while also making sure both partners feel equally responsible.
Disclaimer: This article is based on financial advice shared on social media and is meant for general informational purposes only. Every individual or couple’s financial situation is different, so what works for one may not work for another. Please consult a certified financial advisor or planner before making any financial decisions.
