How to protect yourself from SHTF financially

When I got married, I was under the illusion that I’d have very little to do with money from then on. I’d just cheer on the sidelines and be frugal, and everything would work out fine… right?

Several unemployment periods, a bunch of financial crises, and one massive fraud (on the victim end, of course) later, I realized that sometimes, things don’t work as you mean them to.

I think my top financial tip for anyone planning to get married would be: Don’t pool everything together. Yes, we always think in terms of joint accounts and finances, but if your spouse owes money or makes a big financial mistake, it can wipe everything out clean. Having my own account has become a source of such major comfort and security I would never give it up today.

If you already have a joint account, I’d set up a separate one, or, ideally, three accounts: one belonging to each spouse and a third for joint expenses. As long as there’s good communication and no childlike offenses (“don’t you trust me?!”) it can work great.

Second, keep stashing something away. Even if it’s very, very little. Just keep adding a tiny bit to that savings pile, and you’ll have yourself a nice little emergency fund for SHTF times.

Third, know the difference between a situation in which you just need to tighten your belt a bit, and a massive wake-up call. I had wrote once about how I found myself scrounging the freezer for a couple last cups of flour. It was an awful feeling. If you’re in a situation when you have no food security, reach out for help.

And one last tip: Never work for free. Your time is precious; yes, unpaid internships are a thing in many industries, but if someone is clearly profiting off your time and not paying you anything, don’t fall for that.