Should you have a joint account with your spouse?

Question

Should your spouse moniter every money move you make in the banking account??

Answer 1

You should have a joint account because when you become married, you become one. It isn't so much that you can spy on each others spending, but it helps to be able to put all the money in one place. This way it doesn't become "my" money and "your" money, and "my" bills and "your" bills, it becomes "our" money/bills. It makes it soooooo much simpler to have it all in a joint account for making a budget and paying bills. My parents do it this way and it works, but they both each have their own checking accounts where $25 or $50 (i don't remember which) a paycheck goes to that account, and they spend that money on whatever they want.

Answer 2

A joint checking and/or savings account with your spouse is a good idea. It makes sense for paying bills, family purchases, etc. You should still maintain your own personal accounts, though, for personal purchases, rather than things for your family. It makes things less complicated so you won't run into the problem of "YOU spent OUR money on THAT?" However, joint accounts should not be used to monitor each other's spending or try to control each other. While it is practical, it isn't about spying, it's about sharing.

Answer 3

It is more of a matter of trust. Are you nervous your spouse will find things he wouldn't like? If there is trust, why does it matter if the accounts are joint or separate. My fiance and I have separate accounts, but I have full access to his account and vice versa. If you're so worried, why don't you open a joint count that pays for all of the bills and expenses, then each have a separate account with spending money for the month?

Answer 4

your planning a life together, you can both make credits and take withdrawals and you can see where the money goes. Keeping separate funds seems like your not ready to trust one another. Unles of course you dont want to share and plan to leave in the future!
You can have any number of accounts, it might help to make standing orders, direct debits all go from one account and have a monthly payment to this account, so that it never goes overdrawn.
If your self-employed you might need to have separate accounts, chat with your bank manager or accountant first.

Answer 5

Yes. When you get married you become one person, not literally of course. Your stuff becomes your spouse's and your spouse's stuff becomes yours. If you have separate bank accounts, one could sneak around easier and you wouldn't really be 'one person'. They don't really need to monitor your every move, but they should be able to have access to stuff like that, just in case.

Answer 6

besides the undeniable fact that I have faith my husband a hundred%, we've separate money owed. I look after dealing with all of our expenses and have finished get right of entry to to his account (as he does with mine). the only element we've joint is savings simply by fact funds is going in yet would not come out. i for my section experience its much less complicated to regulate our expenses this manner yet anybody is diverse.

Answer 7

Get your own account and share the bills each month. This is better in Case of a breakup. And for your credit rating.

Answer 8

It's all about trust. From a financial stand point I would keep them separate and have a joint. Then, you both have assets to your names in loan situations ect.

Answer 9

sometime couple have there own checking or saving account alone with joint account, it depend on the couple if they want that

Answer 10

Please, please take my advise!!! I married what I believed to be the most perfect man for me...we shared a bank account...he drained it...we got seperate accounts...he ran out of money and couldn't pay his half of the bills...I made him direct deposit his paycheck into MY accout....I left him after recooping my money!!! So please becareful that your spouse is not a gold digger.