Relationships and Marriage Forum - Joint bank accounts after marriage?

Just wondering..how many of you after getting married got a joint bank account...my parents have one..my mom is notoriously frugle while my dad likes to indulge quite a bit but they haven't had any problems sharing an account..i know there are some couples that choose to keep their financial stuff seperate however, just wondering if anyone on here did that and how it was working..my boyfriend and i dont live together but i'm over at his place a good bit so I try to help him out with groceries and such but idk how id feel about sharing an account with him if we ever ended up getting married haha..i kind of like my own stuff..and i know part of a marriage is whats mine is yours and whats yours is mine or whatever but idk...haha

Replies(5)

rooted

replied on November 20th, 2008

Supporter

I'm married and we have joint finances, but separate accounts with separate names. We consider our money OURS, you know, but it's never been a big deal and we haven't made the official change b/c of the hassle of paperwork and administration. It's actually easier to have two accounts, because I pay bills from one and then we save money in the other.

But one thing I wasn't prepared for is that I DO ALL OF THE ACCOUNTING! Taxes, budget, everything. How's your boyfriend with organization and spending...b/c I bet you'll end up with the responsibilities, too!

nightangel73

replied on November 20th, 2008

Extremely eHealthy

My and husband decided to kept our accounts separate and I like that way. I like to be in control of my own money. So we just share the bills. Like say he pays mortage, I pay the utilities and groceries and so on. My parents are the same way. My mom told me when they got married they did joint account and almost divorced because of the fights over how the money was spent. My husband ex wife almost ruined him financially using his credit card. So to me I like separate accounts. But I have seeing it working well joint accounts for many of my friends. It depends on the couples attitude toward money. It can work either way.

Towner

replied on November 20th, 2008

Experienced User

I know you don't feel ready to share yet, but that's because you're still at the "young and single" stage of your life (ok not single but you know what I mean). It's normal to feel a bit possessive about your things at this point. You'll probably feel different later on should you decide to marry him.

My parents have a shared account and they never had problems. My uncle had a shared account with his wife but he was so bad with money that they nearly went bankrupt. They kept the joint account but from then on my aunt took care of all the finances.

You might however want to keep seperate accounts because it might save you money for tax purposes or something (details, details...)

worrywart01

replied on November 23rd, 2008

Extremely eHealthy

rooted: I'm sure I will probably end up taking care of all the bills if we get to that point..my mom is the one who takes care of bills in our family,as i said before her and my dad have a joint account and have never had issues(that I know of) ..it sounds like the separate account thing works though..i mean this is nothing i have to worry about anytime soon, i'm only 21 and definitely not ready for marriage yet, not until college is done with anyway..i guess its something i'd just have to think about but i'm way ahead of myself here haha

f251192

replied on January 31st, 2009

New User

My wife and I share our accounts and I even put her on the house I owned before we got married. It works great for us and I think it makes us feel like "one," so to speak. We have never fought over money issues and just spend what we need. Neither of us are big spenders.

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