when coming to husband and wife relationships are you to have one account or both have seperate accounts?

Answer 1

Karen here's the straight scoop on bank accounts. I listen to Dave Ramsey, the money guy www.daveramsey.com, and he says that it is essential to good marriage to have joint bank accounts. (40% of divorces are due to financial problems). Not only that, but to succeed in winning the money game, you have to write out a monthly budget which BOTH HUSBAND AND WIFE participate in and agree to. This not only puts you both on the same page money-wise, but reflects your shared goals and aspirations.

When you deviate from this concept, you aren't agreeing on anything except there's your money and I've got mine.

Now, there may be situations that dictate separate accounts for very obvious reasons (business accounts), but aside from that it's a partnership and you should go with it.

The Total Money Makeover is his book and he also has a plan for financial security for life (from debt to wealth).

Good Luck

Answer 2

Personally I believe that if you are in a trusting, honest relationship one account (when there is debt owing). You should be a team and should set goals and have boundaries on where the money should go ( bills first and then decide on the rest together). If however, one is an over spender and the other person can't control them or they can't control themselves either, a separate account is necessary (an allowance) .
In the end, unless you are really dense and don't know the other is hoarding money, it will all be split down the middle anyways (debt and all). Hiding money is a true sign your not in a healthy marriage to begin with.

Answer 3

I've been married for 7 years and for 7 years my husband and I have maintained seperate accounts. I think this is easier if you have both individuals making a paycheck. We didn't do this becasue we don't trust each other, in fact both accounts have both of our names on them, we just found it easier to do our bills this way. I'm in charge of the mortgage and our incidentials like groceries etc while he handles all other bills in the house. Whatever money we have in the accounts after the bills is ours to do what we want to do with. I think it gives us each a bit of financial independance and you both feel as though you are contributing equally to the household. And to be realistic, you never know what can happen and if you have a hand in your family finances you can always feel confident in knowing that you know what's going on with the money that you make. Giving someone in the relationship complete financial control could lead to resentment. I think as long as both parties agree completely on how the finances should be handled and continue to agree throughout the marriage and throughout the changes your marriage/family will go through then your golden.

Answer 4

Depends on how much you trust each other. My husband and I have joint accounts, every thing, investments, etc.. I have retirement and he does that are separate, but they really are not personal property because of the laws.

If you think that your husband can be trusted with your money, that joint accounts are MUCH simpler to manage, and both have access to all transactions, so no secret purchases to argue about. We both have our pay direct deposited to that joint account, also.

However, if there is ANY doubt...keep individual accounts, and have a little emergency "nest egg" just in case. That sounds bad, but you have to take care of yourself. I wish you the best.

Answer 5

We're not married yet, but my fiance and I are planning on maintaining separate accounts (the separate checking and savings accounts that we have now) and opening more joint accounts after we are married. We will be maintaining the separate checking and savings accounts because we bank at two different banks and we have investments through each of our banks that we want to maintain. Plus, it does give you a little financial autonomy, if you want it. (Neither of us are driven by this reason, however). We have one joint checking account now, and we will open a couple more joint accounts (savings, etc.) in the future. I see the joint accounts as making it easier to pay bills and handle household expenses.

Answer 6

Seperate accounts are the only way to go. That way when one splits, they can't empty the bank account on their way out the door leaving the other with nothing.

Answer 7

For most things, seperate accounts like email and yahoo answers of course. But joing checking accounts are standard for married couples.

Answer 8

My husband and I have joint accounts, I don't work so there is not much use of me having a bank account of my own. I also do all the banking and handle all the money, I give him what he needs each week,( for gas and coffee) and he is happy!

Answer 9

I had a joint account with my ex husband from the time we got engaged. (about 4 years)

I always had one in my name only though just to be safe. Kind of like an escape plan so he wouldn't get all the money in a bad situation and it worked to my advantage fully.

Answer 10

I prefer separate accounts.....my husband wants everything combined.....but we have 2 different accounts at 2 different banks, but both of our names are on each account.