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to Joint Account Or Not to Joint Account?

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So my boyfriend and I have a pretty serious relationship. We talk about marriage a lot, and it is definitely a possibility of the near future....We got into this not so much a dispute, but a debate over bank accounts in marriage. He thinks that we should have one joint account and each have our seperate accounts, but I just dont see how anyone could do that in a marriage considering marriage is trust and unity..I believe in one joint account. Ive seen my parents do it, and well they have a successful marriage and I dont see anything wrong with it. My question is, what exactly is the correct thing to do? Best thing to do? What does everyone else do? And how do we solve this..I dont want this to be an issue that will plague us when we decide to get married.
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replied November 10th, 2006
Experienced User
This really is a personnel decision and it has to be what you both want. There is no correct way to do it. Having a joint account is great but still having a little bit of your own money to spend on whatever you want without having to account for it is a bonus. By having seperate accounts aswell as one joint account doesn't have anything to do with trust its nice to have your own money and a bit of independance. My husband and I have a couple joint accounts (savings and a general one) most of our money goes into the one account and then $50 a week goes into our accounts to do whatever we want with it but usually its spent on whatever we need anyway Smile but he likes having "his" money that he can waste at the pub if he wants to or he saves it occasionally and buys me a pressie (that is one good thing about it Smile and I generally use mine on clothes or other girlie things Smile another way to do it is get some cash out on pay day and give some to your parnter and keep some yourself and that is 'your' money to do what you want with. Either way works and remember its not that much of a biggie in the long run so don't get too worried about it. I know some couples who have been married for years and don't have any joint accounts and that seems to work for them so whatever yous decide to do is your choice and it will be what is best for you both.
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replied November 10th, 2006
Extremely eHealthy
I kind of have to agree. Thei are some that can work together on a joint account and their are others that cannot. I have known some that cannot even handle their own checking account. It is really between the two of you and money situations can be a major problem in any relationship.
Good luck!
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