Do you have seperate accounts or joint accounts with your spouse?

Question

How does it work out for you. What are the advantages and the disadvantages.

Answer 1

Seperate. It works for us because we don't have to ask each other about the little things we want to by and feel like we are compromising all the time. We split the bills 50/50 and then the rest is our own. Every few months we talk about it and make sure that it is still working, switch bills etc. Works very well for us.

Answer 2

we've both. we've a joint account which a huge component to each and every of our tests get deposited into. We use that account to pay costs. Then we each and every have seperate own costs. We had numerous subject matters the first twelve months or so as that we were married when we tried sharing only a million joint account. Our account changed into continuously being overdrawn. My spouse and that i did not seem very sturdy at talking with one yet another. So instead of having an overdrawn account (and finding out to purchase it), we keen to do issues they way we presently are. Its worked for the finest 4 years for us, even with the very incontrovertible certainty that it might want to no longer artwork for each person.

Answer 3

Both. We each have separate accounts. Our money is deposited into our own separate accounts. We have two joint accounts, one for bills and one for savings. We have it set up so each month a certain amount of money automatically goes into the joint bills account and a certain amount goes directly to savings. This way our bills and our savings are split equally and then we use what's left in our personal accounts at our own discretion.

*I must add, we are equal partners in a business together so we also have business accounts and merchant accounts which we share as well as make the same amount of money.

Answer 4

We have joint, it works great because I handle the money. My husband cannot organize and pay bills well he can but we'd probably not have any electricity or a house for that matter. lol j/k He could do it but we try to be a team and do what we do best. I pay the bills best so I am in charge. It is alot of pressure on me to budget and pay them. Because when we don't have money for groceries, gas, or extra money it's like it's my fault. I feel pressure all the time to take care of everything. But it's my part in our marriage so I keep doing it. It would be nice to have help with it though. I would like to do it together but in reality that probably wouldn't work at all.

Good luck!

Answer 5

we have both.

we have been married for a year, and we both still have the original bank accounts we had when we were single, with his paycheck going to his and mine going to mine. HOWEVER we both have access to each others accounts. We are both signers on both bank accounts. And I track all of our financial data on one Quicken account - including 401(k)s, credit cards, loans, everything is all in one place.

The trick here is that *I* handle all our finances. I pay all the bills from my account, and anything left comes from his. This way his is building up a large savings account, and we use mine for the mortgage and such. I track all the money, and we try to save half our combined income. Some day we will probably merge them, but we haven't felt the need I guess.

We consider our finances to be combined, even though we have 2 bank accounts. it's OUR money, not mine and his...

Answer 6

I finally got smart and got a seperate account, when my husband started messing with our bill money, I knew I had to protect my children's money. We make the same amount of money so I told him he can pay 1/2 the bills (of course I gave him the things that were important to him ie: his truck payment, cable, his truck insurance, his spending money) He decided instead to give his paycheck to me and let me pay the bills, I recommend the envelope system on the computer, involving pre-allocation of funds to increase your budgeting abilities. To keep my husband up to speed he always has access via internet to look at the account online to "monitor" my spending which is never more than mandatory bills. I also motivate him by showing him what truely is our available balance, after money is pre-allocated. Hope this helps! It has saved us much heartache, and decreased fighting about this.

Answer 7

seperate on everything....even though she makes twice what i do, it's down the middle all the way!! it's kinda like being more with a room mate than a spouse. i'm jealous of others who have joint accounts...but she won't budge.

Answer 8

We each have our seperate accounts and then we have a joint account for househild stuff. It works perfectly for us.

Answer 9

A separate account is good in that you both have your own money. The down side is that you have two accounts to deal with, double the banking fees etc.

Answer 10

Interesting question.

I never understood how a couple could get married and not have "joint" everything. My husband and I share everything. His brother and his wife don't share anything. My sister-in-law is very jealous of the fact that my husband and I share.

I guess it depends on the relationship, the personalities of the people and the TRUST between them.