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Suze Orman: Don't Get a Joint Bank Account. Here's How Couples Should Budget Their Money

Money can be a sore subject in any relationship.

Sharing bank accounts with your partner may make your budget issues even worse, according to Suze Orman, host of the "Women & Money" podcast.

Having joint bank accounts can lead to power imbalances and a loss of autonomy, Orman said.

The bestselling author and her partner, K.T., short for Kathy Travis, have been together for around 20 years, and have never opened a joint bank account.

Orman recommends using a simple equation to determine how much money each person will contribute to household expenses. Check out this video to learn how to split finances in a way that will be fair to both partners.

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