A new financial arrangement is gaining ground among couples with two incomes and no children yet: they keep their money separate, but plan together for the future. Facet president and chief operating officer Shruti Joshi says the firm works with a growing share of households like this, and the label for them is 'SPLITs.'
Joshi says the shift reflects a broader change in expectations. A generation ago, keeping separate accounts could look like a lack of commitment. Today, it is more often treated as maturity. Couples are also entering relationships later, with savings, investments, retirement plans, student debt, and stronger individual earning power already in place.
The structure is simple. Each partner keeps separate savings accounts, debts, and 401(k)s, while still sharing a common plan. That can reduce conflict, especially when one partner has student loans and the other is debt-free, or when both bring similar incomes to the table. Joshi says that financial autonomy lets each person spend, save, and splurge on their own terms without needing to justify every purchase.
The numbers help explain why the model is appealing. Fortune cites Pew Research Center data showing child-free couples have a median household income of $193,900, compared with $151,900 for dual-income couples with kids. The same report says child-free couples have less wealth overall, at $214,700 against $361,500, largely because they are younger and less likely to own a home.
Debt also weighs differently on family formation. Fortune cites Federal Reserve data from 2022 showing couples with children carry about $70,000 more in debt. When loans, credit cards, and mortgages are included, child-free couples were around $100,000 in debt, versus $168,000 for couples with kids.
Joshi says the arrangement works best for child-free renters who want to preserve flexibility. Couples can still pool money for major goals, such as buying a home or traveling, but the model becomes harder when the plans shift toward homeownership or having children. Mortgage providers and tax codes, she says, favor joint finances.
For now, the appeal is clear: two incomes, fewer money fights, and more control over capital at the household level. The market has already voted for flexibility. But the broader system still rewards the old model, where the taxpayer-backed rules of mortgages and taxes assume a shared pot. Capital rewards clear rules, and couples are adapting faster than the bureaucracy that governs the family balance sheet.
