Dear couples; What works better with your checking accounts. Seperate or Together?

Question

Which do you see more beneficial. Less arguments over money. Shared checking or seperate? Give me some pros and cons.

Answer 1

Separate.

It's so easy to go overdrawn when the two of you are spending from a joint account - unless, that is, you consult each other each and every time you wish to purchase anything.

Plus, it doesn't harm to have some of your own money - when life throws you a curve ball you might just be glad of it.

Answer 2

Before we were married, when we were living together, we had seperate checking accounts and we paid the household bills based on the ratio of our incomes.

When we got married we kept our seperate accounts and got a joint account. For a while we kept the same arrangement as above so we both had our own mad-money, but as the expenses of the household grew (new autos, travel trailer, joint credit cards, etc.) we started just pooling everything into our joint account. We both still have our seperate accounts, but other than direct deposits and payments that they are still used for, we don't use them for anything else.

Answer 3

Has anyone considered a joint checking account with a method to prevent any overdrafts?

Both may need a check book, but one or the other could deduct an amount for expected expenditures from one check book, and the other enter that amount into their checkbook. Both would carry a balance that can be controlled.

This is a simple method to prevent overdrafts when both are writing checks, and avoids two accounts.

It would not complicate balancing at EOM. All checks would be accounted for and the two EOM balances added to arrive at the correct bank balance.

If one runs out of cash, one or the other can make another transfer.

This eliminates any mistrust. I went through that with my ex, two separate accounts. She had access to mine, but I did not have access to hers. With my first two late wives, I wrote no checks. They kept control. I personally used cash only. No overdrafts.

Answer 4

Together is best. Being united in decisions and trusting each other builds on and continues a strong bond. Each person respects the other, builds together as a team, creating deeper bonds in every area of you life.

When separation is involved in any area of your marriage there is a break in the connection, "separation" rather than "unity" . Separating money or any area creates a break down & secrecy that is destructive to one-ness, trust and completeness. Doubt sets in where secrecy lives.

Building together in every area of your lives, working as a team is the only way to go. No secrets and communication remains open, honest and without fear of having a disagreement, but respond to them in confidence because you have built a strong bond that can't be broken.

***Side note, when removing a mate from accessing your money it is saying you don't trust them in that area, and if you don't trust them in that area that's big! Ranks up there with fidelity as it is required to trust that your mate will provide for the family & remain loyal in every area.

Answer 5

I have been married for 19 years, and my hubby and I have separate checking accounts as well as savings account. This works the best for ME!! At one point right after we married, we had a joint checking account, but for some unknown reason, my hubby has problems writing down check numbers and the amount of the check, so therefore I would have problems when it came to balance the checkbook. It would never balance. The checking account is a checking account my parents opened for me when I was 16 yrs. old. After I married, I added him, but it didn't take me long to take his name off the account...lol...to this day, I have no problems with my checking or savings account! I think separate accounts is the best, but its different for every marriage! Good luck! :o)

Answer 6

My wife and I use a system that works wonderful.
We added up all our monthly expenses, and opened an account in which we both put right around that amount each month in it. On the side, we both have personal accounts where our paychecks go, and this gives us each our own individuality, and the joint account creates unity, which builds trust between us.

Answer 7

If your married, it is supposed to be OUR checking account. That is one of the biggest problems of today's marriages, the thinking of well this is mine this is his. When your married, become one. This way, there will be no mistrust over where the other is spending the money too. I would suggest you check out www.daveramsey.com if you need advice on spending too.

Answer 8

We don't argue over money. We each have our own checking accounts but my husband pays for everything. I buy our groceries and keep the house clean and that's about it. We both work. For us, it works well!!

Answer 9

Together

Answer 10

try not to talk too much abt money..it can hurts feeling..so i think less arguments over money would be the best