Phil speaks with finance expert Chris Foster-Ramsay discussing the importance of financial independence in relationships. Chris advocates for couples maintaining separate day-to-day bank accounts, emphasizing that financial autonomy is crucial for both partners.

With data showing that 1 in 6 Australians rely financially on their partner, he highlights the risks of dependency if relationships end.

Chris recommends a "three-bucket" approach to money management: one account for personal expenses like hobbies and wellness, another for joint costs such as bills and home loans, and a third as an emergency fund for unexpected situations.

He believes financial independence reduces stress, enhances financial skills, and fosters stronger, more equitable relationships, reinforcing its role as a key pillar of gender equality.

Phil speaks with finance expert Chris Foster-Ramsay discussing the importance of financial independence in relationships. Chris advocates for couples maintaining separate day-to-day bank accounts, emphasizing that financial autonomy is crucial for both partners.
With data showing that 1 in 6 Australians rely financially on their partner, he highlights the risks of dependency if relationships end.
Chris recommends a "three-bucket" approach to money management: one account for personal expenses like hobbies and wellness, another for joint costs such as bills and home loans, and a third as an emergency fund for unexpected situations.
He believes financial independence reduces stress, enhances financial skills, and fosters stronger, more equitable relationships, reinforcing its role as a key pillar of gender equality.

Join Phil O'Neil from midnight to 5.30am Tuesday to Friday.

Join Phil O'Neil from midnight to 5.30am Tuesday to Friday.

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