Tag: finances

Untangling Finances: A Guide to Splitting Joint Bank Accounts
September 9, 2025 Off

Untangling Finances: A Guide to Splitting Joint Bank Accounts

By The Admiral Staff

When a relationship ends, a joint bank account can become a burden. Experts recommend discussing next steps together, potentially using a mediator or CDFA for financial advice. Contacting your bank to limit transfers is an option, but laws vary by location. It’s advisable to open a new, separate account at a different bank and gradually move funds, ideally taking only half initially. Dividing shared bills and protecting your credit by monitoring accounts are also crucial steps to ensure a fair and financially sound separation.

Love & Money: Navigating the Income Gap
March 10, 2025 Off

Love & Money: Navigating the Income Gap

By The Admiral Staff

The article addresses financial disparities in relationships through a series of reader questions. It explores concerns like a partner worrying about being a financial burden, differing attitudes towards spending and travel, anxieties about earning significantly more than a date, and the stress of becoming the sole breadwinner after a partner’s job loss. The advice emphasizes open communication, understanding each partner’s values, and finding ways to be equitable regardless of income differences.

New Job, Smart Money: 5 Financial Moves to Make
July 28, 2024 Off

New Job, Smart Money: 5 Financial Moves to Make

By The Admiral Staff

Starting a new job significantly impacts your finances, and it’s crucial to make smart money moves. Key steps include rolling over your old 401(k), carefully evaluating health insurance plans (considering premiums, deductibles, and potential HSAs), and exploring all employee benefits like tuition reimbursement or childcare vouchers. Avoid “lifestyle inflation” by directing a portion of your increased salary into savings, and finally, readjust your budget to reflect any changes in income and expenses related to the new role.

Navigating the Income Gap: How Couples Make It Work
March 24, 2024 Off

Navigating the Income Gap: How Couples Make It Work

By The Admiral Staff

The article discusses how couples can navigate income inequality in their relationships. It highlights that open communication about feelings related to income differences is crucial, whether it’s guilt from earning less or pressure from earning more. Several approaches are explored: joint accounts (treating money as “his and hers”), separate but equal accounts (contributing proportionally to shared expenses), and separate accounts with proportional contributions based on income percentage. The article also addresses situations where one partner is unable to work, emphasizing transparency and mutual support. Ultimately

The Gold Digger Accusation: When Your Boyfriend’s Finances Are the Real Problem
November 4, 2023 Off

The Gold Digger Accusation: When Your Boyfriend’s Finances Are the Real Problem

By The Admiral Staff

A woman is seeking advice on how to handle her financially independent boyfriend’s dismissive comments about her finances. The advice columnist suggests she pay expenses proportionally to income, but highlights his refusal to let her contribute more than a small amount as a red flag indicating he may not see her as an equal. The columnist urges her to address his remarks directly and reconsider the relationship if he continues to imply she’s a gold digger, emphasizing she’s not holding him back and should not accept that narrative