The authors of Love, Marriage and Money
Cmtdarden: Welcome expert couple team, Gail Liberman and Alan Lavine, sitting in as GailAl tonight, authors of the book Love Marriage and Money: Understanding and Achieving Financial Compatibility Before-and After-You Say "I Do".
GailAlan: Hello everybody! We made it.
A_M_C : How can you handle the money situation when one does not have a job and can't work till later on in the year due to work related problems?
GailAlan: Can you find a part-time job somewhere? There's a tremendous job shortage. Look around for a part-time job? Do you have disability insurance? Have you tried Social Security?
A_M_C: I'm not sure how to get SS and I don't have insurance at all due to a divorce that did not go my way.
GailAlan: For Social Security info, there's a toll-free number that we're looking for right now. Social Security is 1-800-772-1213. See if you qualify for disability. If it's too much time together, what about one of you doing volunteer work?
Cmtdarden: Gail and Alan, do you suggest a couple should have separate bank accounts in order to keep the peace when in comes to money issues?
GailAlan: Separate accounts are fine. But it depends on your situation. For example, not every couple has two working spouses. If one has to stay home with kids, separate accounts may not be practical, for example. Right. It's possible in that case, you might have to share. Like have one joint account and set a limit on spending. It's something, though, that you both have to get together and agree on.