Do you recommend a completely joint bank account with your husband. Been married for 16 years and not sure as I have always had my own account to spend how I please without any questions.
I say to each their own whatever works for the two of you. My hubby and I share a joint account as well as have our own persoanl accounts works for me lol.
I also say, whatever works for you.
Hubby and I have seperate accounts. Always have and always will. It works for us. We don’t need or want a joint account.
Personally I regret setting up a joint account.
Since I“m in the banking business and deal with this daily I will say it depends on your relationship. If you have a trusting relationship and each of you are good about keeping up with the account..and it works for you both..then by all means have a joint acct.
If you don’t have a trusting relationship or one of you is NOT good about keeping up with the account or spending too much money or money you don’t have...then separate accounts is definitely the way to go.
I have some couples that have their separate accounts but are on each other accounts in case of emergency...but they work out of their own accounts.
You just have to find out what works for you.
Hubbie and I have a joint account but we contribute a certain percentage of our earnings to that account. The joint account is basically for family expenses. When we want tyres for the cars, replace the refrigerator, buying furniture, vacations etc. We each however, have our own separate accounts and this has been working well for us for the past 21 years. I agree with all the other ladies you have to find what works for you, my arrangement may not work well with somebodyelse. Search your heart well and let past behaviours help you make the decisions.
I agree with Tuesday on this, we have a joint account and it works fine for us....
Tuesday you made some very valid points. I sort of think a long the same lines. What’s mine is his and what is his is mine. But again...not everyone works this way.
Maybe hubby and I are just odd ducks. I feel he works very hard for his money (and me for mine) and I don’t feel in any way that what he earns is jointly mine. He earned it, it’s his. I earned mine, it’s mine. There are certain bills he pays, and certain bills I pay, so there is no need for the confussion of a joint account.
We’ve always had joint and separate accounts. Originally it was because I couldn’t add him on my account but that was 25 years ago now and I’ve added him to everything since.
We divide the bills according to the proportion of household income we each provide. So, where he makes twice what I make, he pays twice as much as me. The house account is for joint expenses like entertainment or family travel, charity/donations, and so on. We also tried to divide it up by expertise. Where I worked in personal insurance for 15 years, to this day I still handle all of our insurance matters.
We have never had an argument about money, ever. And our credit scores are each over 800 so we‘re managing our situation in a way that works like a charm for us.
Back to what I said before, you have to know in your heart what works for you and let past behaviours be your guide. The other day hubbie completed a job and got paid, he said to me he wants to give me $1,500.00 so I can do something really wonderful for myself. Now, I got that money and put it in MY account. I donot see why I get a gift like that from my husband and have to put it back into a joint account with him and he wants me to have it all. My “family joint account” and my personal accounts working just fine for me. Our bills are paid, we have a savings and for me as old folks say “if it ain break, donot fix it“.
We’ve been married 15 years and only just recently, did I put him on my checking account. He doesn’t use that joint account but in case something happens to me, he would be able to pay bills with that account.
He only has a checking account and I have a whole bunch of accounts.
Yes that makes sense. Thanks . The real reason I don’t want a joint account is then he will be able to see what I spend on myself and the kids lol , some men just don’t understand!!. I think we’ll do the joint thing but I’ll keep my personal account going. Thanks for all your help. X
We have a joint account..it pays the bills and that’s all. I have a money market account and that is linked to the joint account...other than that we share all the money, no matter who works for it.
I see situations every single day with people’s accounts. WE have issues such as...both people using debit cards on the same account but both are not letting the other know what they used their card on..or the money they spent to record it in their register. One spends money they really don’t have....or one they withdraw all the cash for the week.....and the list goes on.
Then we have others that are fully capable of working out of the one account.
Then we have couples who rather work out of their own accounts. Some have been married before and were joint on their ex’s accounts....had a bad experience and would never have a joint account again.
Everyone has a reason for having separate accounts or joint account. There are no right or wrong ways...unless you don’t do the right thing.