There’s no doubt prenups have a bit of a scary connotation. We often hear about them in the context of big high-profile divorces, like that of Amazon founder Jeff Bezos and his wife of 25 years, MacKenzie Bezos. Planning for the worst time of our lives when we’re often at one of the best can also often leave us feeling conflicted.
But the reality is, money is the number one cause of divorce in Australia, according to Relationships Australia. And ignoring the ‘money chat’ only makes it worse, with two out of three couples who avoid talking about money arguing about it instead.
Prenups aren’t for everyone. But figuring out how to talk about money early on in your relationship can help you avoid the need for it too.
Mamamia spoke to five people who are engaged or married about how they organised their finances with their partners before their wedding and whether they considered a prenup or a different financial agreement.
Here’s what they had to say:
“My partner and I combined our bank accounts as it was the best way to save for a property and get the best interest on our savings.
“We have always said that if anything happens between us we will go 50/50 – we don’t have that in an official document but we both know each other and know we would keep that true no matter what – no nasties.
“It also helps that neither of us will inherit billions, so didn’t need to worry about a prenup.”
"My partner and I have our own accounts as well as an extra joint account as we're saving for a property. We both deposit the same amount each week/month so it's super clean and easy (in case I decide to pursue Dwayne "The Rock" Johnson!)."
"On the flip side, my partner and I keep our savings separate but have a joint account for holidays and clearly delineate who pays for what for each month so it evens out. We contribute the same amount to the mortgage each month.