That’s only true if people are being irresponsible. If they’ve already done all the suggested steps, that’s different. Many people work a job (or jobs) that simply don’t make enough for them to live on, no matter how frugal they are, and no better work is available. Or worse, they can’t get a job at all, even though they are willing and able to work. That is a large and growing problem in America today, and blaming the victims does NOT help.

I’ve seen this arrangement more and more recently – is it becoming more common to have separate funds/bills between spouses? I don’t see the advantage of this arrangement… what prompts a couple to take this step?

I handled the problem with having a spouse who was not on board by not telling her how much I make. Two jobs ago, I got a raise and did not tell my wife about it. I got a considerable raise with the next job, and did not tell her about that either. I give myself a 3% raise a year as far as spending money.

My wife seems happy with this and I am not one paycheck away from homelessness. The checking account a joint account.

What made it possible was on-line bill pay.

It’s not that I didn’t have the money to pay X bill 2 weeks ago, it’s that I was too lazy to focus – sit down, find the bill, find the checkbook, write the check, find an envelope, find a stamp – THEN go to a mailbox?? Haha, no.

Now, I have all my bills (gas, water, electric, cell phone, internet/cable, credit cardx2, rent, car payment, insurance, personal loan, DMV [don't ask], savings account) payed directly from my account 2 days after my monthly direct deposit. 13 freaking bills – all paid automatically. It’s f&&^king beautiful.

Sure, it leaves me with less than 300$, but with 500$ from my wife every other week (for her share of the bills above), I never have to worry about ‘is this the real balance, or the fake balance.’

Well, you could always downgrade on the social life. Clearly having any sort of human contact is a pocket-burner.

Another frugal living website I visit calls this “living on the edge”, where one emergency can have you in a financial disaster because you haven’t planned ahead.

Emergency fund equals peace of mind!

I hear you; my wife and I are in the same boat.

When you are careful with your money (meaning that budget every month and spend every dollar according to plan), don’t spend on unnecessary items or luxuries like eating out, and still can’t get by, it means you need more income.

You might need a short-term solution like getting a second job, or a more permanent solution like getting a better paying first job. But that is where we’re left.

Like our former president used to say, “I feel your pain” (’cause I’m there now.) Good luck.

Nah, Don’t carry any. Futhermore, only have one. Cut up the rest

Of course, I might be better off paying a little more attention to my balances and keeping less in checking and more in high-yield savings, but that’s a whole different issue.