Do you think I should open a bank account with my boyfriend?

Question

We've been together for 4 years and we are living together for 6 months now. He wants to open a joint account. I need some advise.

he makes 10 times more money than I do and I trust him completely. Him cleaning out the account is not an issue

Answer 1

My girlfriend and I have our own checking accounts. I have a savings account and we have a savings account together. My ex-when she left didn't say a word but she didn't clean out the checking account, she only took half. I guess that was ok because we do have 2 children. I worked at a job and she worked at her job taking care of the kids. (she had the harder job) so it was only right she have half. I really don't know what kind of relationship your boyfriend and you have. But, use your head if there is any doubt of trust, don't do it!!!!!!!!!!!!!!!!!!

Answer 2

BALONEY! NONONONONONONONONONO!

First of all, if you've been together for 4 years, that' s long enough to decide if you should be married. What's holding you back? If you're waiting for him to ask you I have news for you....he won't. Right now he's "getting his milk for free" and I'm sorry to say...you're the cow. (that's not a reference to how you look by the way. no offense is intended) He is stringing you along girl. Moving in with him was a bad idea. You need to put your foot down and tell him that either you set a date or that's it.

If he wants to open a joint account, tell him that's what married people do. And if he makes that much more money...then he should not need your money....I'd be concerned. He may be making money but what is his DEBT situation like? Does he have more than 2 credit cards? Are the ones he has maxed out or close to it? Do bill collectors call the house? Does he have a really nice car with a big car payment? Student loans? Alimony or child support payments? If he's not banking at least 15% of his take home pay every month then you had better have some serious conversations with him about finances.

If he makes so much more money that you, why would he want to put HIMSELF in the position of having a joint account with someone that he isn't married to? YOU could clean HIM out! That doesn't make any sense.

You may trust him honey, but he doesn't seem like a very upstanding, honorable man. If he was, you'd have a ring and a date.

Think of this: If he does ask you to marry him, is the money for the ring going to come out of your JOINT account??? Are you willing to pay for your own ring? How is THAT going to make you feel?

Answer 3

After 4 years if you are not committed enough to each other to get married, there is no reason to have a joint bank account. If you split up how would you determine how much money belongs to each of you. One of you could clean out the whole account and leave the other high and dry. You may think this won't happen, but it does, often. Your relationship may be perfectly fine, but it is a big risk.

Answer 4

I would say "yes" with guidelines. You only put in the amount of money that he does, and there should be an EXACT budget for what the money is for. Rent, utilities, gas, food, etc, and you split the remainder for your own uses 50/50.

I would also advise you to look at his current bank statement. How often does he overdraw his current account? What are his spending habits? Putting your money in with his is an ok idea IF he's responsible and has proof (bank statements). This shouldn't be an outrageous request if he has nothing to hide.

Also....just curious. Why is he only a boyfriend and not a fiance? Seems to me, he wants you to commit to him with a bank account. Why not suggest to him that you'll get the joint bank account as soon as he gets the ring!!

Answer 5

Do not under any circumstances open a joint account with anybody other than your spouse. Its even a good idea to Maritain your own account and money even if you are married. Playing house is one thing but the bills and legal ramifications are very real. Do not sign loans , do not lend your bank or credit card and above all hang onto your own savings. Far to many young people end up with other peoples debts after co-habitation.

Answer 6

I would not do it myself, but that is up to you. If you do, don't put all your money in there. Only what you are willing to part with just in case. I never had a joint account even when I was married. If we wanted to buy something together, we just split the cost at the point of purchase or wrote each other a check. Good luck.

Answer 7

Having a joint account can become very complicated. If you do, it should only be a bill account. Make sure you maintain a personal account and deposit money into the joint account as you see fit. And only one person can be in charge of balancing the checkbook. Good Luck

Answer 8

No, don't. I'm sure your boyfriend loves you etc. but if you have your own bank accounts then you know what is yours and what is his. There will be no disputes like "oh I put more money in than you etc.." Only open one for your rent and bills and make sure you put equal amounts in at the same time. Agree what the money is allowed for, keep personals in a different account.

Answer 9

absolutly 100% NO. not even if your married. you should always keep your own account.
My wife and I had a joint account, she kept bouncing checks so i opened my own account. We seperated and i got into trouble and went to jail for about 9 months. while i was in jail she bounced checks all over town on the joint account spending money on beer and ciggarettes for her new boyfriend. over 2000 dollars worth. money that i had to pay back. i couldn't take my name off the account nor could i remove hers. we had to both be present to make any changes or close the account.

Answer 10

My bf and I have a joint account. He had his first. Then I started mine and just put his name on it, so at any time I can take his name off and he has no access! The good part is you can go online and transfer money from one to the other if its about to be negative or something. Or when he has more money than you...lol...thats always a plus to sharing it! Good luck
Obviously you would have to trust him not to take your money and run..even though you can get him in trouble im sure for that!!