how many married couples put all pay/income into a joint account?

Question

Is it difficult to start to do that if you have been independent for a long time and make a lot money? Please share your experience.

Answer 1

We have a joint checking account. I love my husband and trust him with my life why wouldn't I trust him with my money. mho. Besides- what's his is mine and what's mine is mine. :)Good luck

Answer 2

Hi,
There is an easy way to avoid all of the common money fights. Get a joint checking account.
Figure up your common monthly expenses rent,food ,kids clothing...
Do not including personal variables like your own clothing or your golf lessons.

Now if you make equal amounts of money put in equal shares
If one person make a good deal more than the other put in equal percentages of you income. Even if one person works part time and takes care of the children, the child care is taken into account by the percentage being the same the partner who works full time pays more.

Then you each have your own money left over to be independent with and feel comfortable the bills will be paid.

Answer 3

I didn't read all the answers you've gotten but married couples shouldn't but all their money into a joint account. It has nothing to do with how much or how little each person makes. It's just smart. Joint accounts are for paying bills and saving for old age together. each person should have an account of their own because it's important to have something that's yours, that you don't have to explain, feel guilty over or worry about how the other person's going to feel about it. Each person has the freedom to do what they want. Marriage isn't about giving up your freedom or yourself, it's about sharing your life and understanding that. Go see a financial adviser and then make up your mind.

Answer 4

It is not unusual for women to think that their husband should share his money with them while they need not share their money with him. This is especially true where the woman has all the money or has the higher paying job.

To answer your question, try setting up a joint account and use it to deposit all income and to pay all bills.One of you can do the accounting and both can check the status regularly.

Answer 5

It should be up to the couple. We had joint when I wasn't working and when I was working we had separate. We each had certain bills to be paid out of our accounts. Now Im not working and its joint but we have been married for 26 years and that is a long time. :)

Answer 6

I WISH I NEVER PUT ALL MY MONEY INTO OUR JOINT ACCOUNT!!! That is the worse thing to do, iwould get nagged about why are you spending this and that!!! and we should have just had a joint account and then our own seprate account. But I make way nmore than my wife so that was always the problem n itself!!! but if i could go back i would defintely change the finances

Answer 7

all the married couples i know. you got married, and that means you're supposed to have trust. if no body's going to die without the other's income, i suggest you both share, but agree on what is untouchable or personal. you should maintain all your prior investments, and probably establish joint ones additionally. then you agree on what has to be paid monthly, and make sure that's paid for jointly. and you need joint savings, too. percentages, rather than dollar amounts, tend to be more fair. but i suggest, for the sake of argument, that you share more than you want to, and not all of it. discuss any new accrued debt or purchase together, so that no one gets upset about more money in for bills. you don't pay for green fees, he doesn't pay for highlights...that sort of thing. you are merging your life, and that includes your money.

Answer 8

Me and my hubby take our own wages, he pays the rent, and the bills, i buy the shopping, and bits and bobs we all need with my money from my part time job as i am also a full time mum and house wife.
We both put so much aside for savings and
Whats left is ours to do what ever we want to, i might take the family out to dinner with my left over cash one week, or buy some thing for myself anouther, my husband does the same with his.
There is no problem sharing, but we both feel that we can justify spending some money on ourselves without feeling guilty.

Answer 9

i am not getting a join account. my grandma has been married for 50 years and she does not have a joint account with my grandfather. they lasted this long and therefore i will follow their foot steps. she told me not to do it so i will not. my aunt on the other hand has a joint account and her credit along with my uncle is Horrible. they have the worst credit. she took out another account to have of her own and is hiding it from my uncle. oh one more thing don't let alcoholics, drug addicts, or anyone with a spending problem to have an joint account with you. But i would not mind putting my name on my husband's account becaue i have no problem sharing his money.

Answer 10

Oh come on now,,,,,,Life's too short to put Money above love and relationships....If you feel better, just have a pre-nuptial and agree to just share whatever in the joint account. If both of you decided on a separate acct. on the side, so be it....but for crying out loud, just be happy in life!

Answer 11

We put into joint account but we married at 23 years of age. In other words, we did not have much and we built everything together anyway.