do you think that husbands and wives should have seperate checking accounts?

Answer 1

It depends on what your perception of Marriage is. We have one account, and it's worked well. Our idea going into marriage is that everything we have is each others. We have set up some limits, however, so that we each get the same spending money to budget with.

It might also depend on your financial wellness (i.e. how loaded you are). If you've both got wads of cash, keeping tight track on each others spending habits is not as important. We have a modest budget, so it's important to honor the other partner by being willing to give over your money to the one account, and not just run off with it as you wish.

I've seen both scenarios work, but my gut feeling is for their to be one account, that everyone contributes to, and everyone enjoys equally. Lastly, I think one account builds transparency in the relationship, so there are no separate accounts that are off limits to the other person. You're in this together now, so no secrets!

Hope this helps, take care.

Answer 2

I think joint accounts are easier. Both partners can track the spending, less fees, and less bank statements cluttering up the house. But, I think you should choose which partner will be doing the banking and budgeting. That way no one worries about the other partner forgetting to pay a bill or paying a bill twice. Keep a seperate account for saving and an equally made wish list. That way you know how much is saved up and what goals you are working towards. Be honest about how much you owe each bill every month and if you are short, don't take it from one only spouse's bills and not the other. Example, if you need an extra $20 take $10 from her bills and $ 10 from his. This is the way I try to work with my husband. It seems to work for us.

Answer 3

Of Course you should- it will help teach both of you how to handle money...you should have a seperate household checking account also and both of you should be working and adding to the household funds to pay all the bills together...and perhaps a joint savings account for special future planned trips or children or a down payment on a house etc...MARRIAGE IS 100% EFFORT FROM EACH OF YOU and you should both work towards the same goal..and spending money is your own to spend or do what you want with it...

Answer 4

That depends entirely upon their own situation and needs.

However, it appears to me that this question stems from a belief that financial health is the basis for a sound marriage. That notion alone is very unwise in that building a life long marriage based upon financial wellness can only lead to a rocky and troubled road ahead for both husband and wife and even the children of the marriage.

It has been said that poor financial health is the plague of the 21st century and the cause for a vast majority of divorces not to mention snowballing debt, bankruptcies, business failures, and destroyed retirement dreams.

I suggest you get a hold of some sound education on how best to manage your lifestyle and resources in order to achieve better financial health.

One such source of education can be found at my website below.

Answer 5

My G/F and I have each our own seperate account at our own financial institution. We also have a "bill account" of mutuall account that we each deposit the same amount of money into. That way we both know what's going on with finances and the freedom of doing what we want to and not catching flak for it.......

Answer 6

me and my wife have our own and a joint account. we share all our money. we mainly use our personal accounts to hide money from the other for our anniversery, birthday presents etc. but you have to trust your partner. i've been married before where when she had access to my account she would spend all the money without telling me. if you do share the account be sure and communicate with each other don't assume you know what the other is doing

Answer 7

If it works. There's nothing about marriage that says you can't create your own working relationship. Often, money is a VERY difficult part of being married. I AM a bit bitter tonight though, as I'm just finishing my marriage (today, actually). (Here's tonight's epitaph, in case you're interested.)

Answer 8

no i think if anyone trust you enough to marry you and dedicate the rest of their lives to you should trust you with money ...but both should have full access to the books and able to keep track of what its being spent on without any arguments about who put what into the account
it should ALL be "our" money



P.S. our includes me 2...you can just send me my part though

Answer 9

Yes.

Answer 10

Yes it will stop any fighting over money.