What is wrong with having separate bank accounts when you are married??

Question

I asked a question that had little or nothing to do with bank accounts and most of the answers were criticizing me for having a separate account than with my husband. What is the big deal? (look at my last question)

we have two incomes

we both contribute to the bills and living expenses

Answer 1

Nothing, If that is what it takes to keep your marriage off the rocks. Who cares what others think. They are probably jealous divorcees who wish they had kept theirs separate.

Answer 2

I didn't look at your last question but there is nothing wrong with having separate bank accounts. Each family and married couple needs to negotiate how they will handle their finances in a way that suits them and thats all that matters...who cares what anyone else thinks! If you found a way to make it work for the two of you then more power to you!! All those people telling you that you aren't doing it right are probably the same ones fighting with their spouse over finances all the time LOL! Congrats on finding what works for you, many couples never do making it one of the leading cause of divorce!

Answer 3

There is nothing wrong with having separate bank accounts. I think it is a fabulous idea! In fact, I recommend three banking accounts (separate from savings, of course). One for joints bills, one for you and one for him. It's not about trust - in fact, I think when you have the separate accounts - it does call for more trust. Why, because on a joint account everyone is accountable to each other. With separate accounts, that is when you are letting them know that you trust them. Plus it is good for individuals who don't have a limit on how much they spend. If your blow money is say $1000/mo, then this is all you will spend as opposed to dipping into the family bill money. That's where the problem with marriage and money come in.

Answer 4

My wife and I have two different accounts to keep the peace in our home. Lots of people argue about money and I'm real bad on keeping my transaction book updated, but I know what's in my account; my wife is just the opposite being on top of things. To avoid bouncing checks and her taking money out that we don't have cause I didn't write it down; separate accounts was the perfect solution. The two of you have to do what's best for the both of you. It's not a matter of trust or being greedy, bank statements come to the house on a monthly basis. If they want to know what you got all the have to do is just look.

Answer 5

There is absolutely nothing wrong with having separate bank accounts. Just because you are married does not mean that you should lose your freedom. For me, one joint account and two separate always worked. That way, each person could contribute to the household expenses, but have the freedom to purchase the "extras" they wanted without having to discuss with their spouse. Joint accounts are great, but I think they are used by many to maintain contol over the other person. You work for your money, enjoy it!!

Answer 6

There is absolutely nothing wrong with separate accounts - especially since you both have separate incomes. You just need to agree on who will pay what bills from their accounts. I don't know why anyone would object to that.

Answer 7

There is nothing wrong with having seperate bank accounts, probably a smart thing actually. I would only see a problem if you both didn't contribute to the bills and what not. but other than that, no problem. Smart idea, especially if something were to happen to marriage...or if your spouse is a hord with money or takes money and uses it on things he/she shouldn't

Answer 8

The way we did it was to have three accounts, one joint and two seperate. We each chipped in a part (most) of our salaries into the joint account and paid all the bills out of there. I made more, and therefore I chipped in proportionally more into the joint account.

We each had our 'play' money... and vacations were paid for out the joint account or all three accounts, or put on a joint credit card.

This prevented endless arguments about buying frivolous goodies....I could buy my Playstation and she could spend 150$ for a hair cut..or vice versa as the case may be.

In our case a trip to a wedding (either side of the family) would be a joint expense....perhaps you should consider this sort of arrangement for the future?

Answer 9

It is a good idea. One of the families in our Family has done that and assume part of the bills, personal accounts, and separate household finances. They both manage, and both have freedom to make purchases and decisions. If something should happen to one of them, both have managed money and can continue on.

Answer 10

Wow, gee...I wonder why some people would have a problem with that? My husband and I have our own separate savings, chk, credit accts and one joint acct we both put money into. There's NOTHING wrong with that and in fact, it's a good idea, especially when one spouse is a bigger spender (in my husband's case)...so I don't know why anyone would make a big deal about that.

Just ignore them and do your own thing. If it works for you, I don't see how that's anyone else's business.

Answer 11

We just celebrated our 14th anniversary and have only been married to each other, we have saved countless arguments separating all our finances, by the way, she makes WAY more money, but we pay like room mates out of the general fund and have our own play money, it works great, we still share but its nice to know what is in the family fortune and what I can play with! Works for us