Move over DINKs: SPLITs are the new financial power couple—they have two incomes, no kids yet and no joint bank account
Source: Fortune ·
DINKs out-earn parents by $42,000 a year. SPLITs get the same two-income benefits and, a financial planner says, skip a lot of money fights.
From the source
DINKs have been having a moment. Child-free millennials have spent the last few years flaunting champagne breakfasts and last-minute luxury trips on TikTok, all funded by the money they’re not spending on nappies. But a new financial power couple has arrived. “For decades, the average American couple sat down at the kitchen table to combine finances after arriving home from their honeymoon,” Shruti Joshi, president and chief operating officer of the financial planning company Facet, tells Fortune. Not anymore. Now, the company has taken stock of a new breed of couples, who don’t share a bank account or a household pot of money—and it’s become so common, they’ve even been given a name: SPLITs. They’re partners who keep their finances separate while sharing one plan for the future, and Joshi says they make up a growing share of the households Facet works with. “Our planners are used to working with couples who each hold their own savings accounts, debts and 401(K)s, while sharing a…