Do you think when you get married , should you stay with your separate bank accounts?

Answer 1

Let me put it this way... when you are married.... you are acting as "one" in terms of your overall financial situation. If one of you is not in control of his/her spending.... you will most likely get into financial problems "as a couple" if left unchecked because you are legally bound. So.... you need to know what each of you are doing as per the "big picture" of overall running of the family budget.

Within the framework of the family's finances... you each need to allow a certain amount for each person as "fun money" to do with as you desire.

The overriding answer to this is to work as a team and have a financial strategy and establish goals for your finances. Make them work for you... not against you.

Answer 2

I think you should keep your seperate bank accounts and also have a joint account in which you each make an equal contribution in order to pay your bills. Such as mortgage and utilities. If you both decide to have a credit card in which you will both be responsible and it's a joint account then include that but if you open a credit card account by yourself then the payment should be his/her own responsibility from your own account. This works really well, I did both and my ex hubby accused me of taking his money. He was a jerk I'm sure yours wouldn't do that. I have heard Susie Orman the money guru say the same thing. Separate is best!! Good Luck

Answer 3

If you are a woman need two accounts. If you are a man you only need one. I say two if you are a woman because if the marriage doesn't work, it's usually the woman stuck with the kids and no money. If you do get a separate account don't tell your husband. This could make him feel insecure. They have accounts that you can check on line and get on line statements only. Now you can have some funds in case of an emergency.

Answer 4

In marriage the more things you keep separate the more separate you will be. I am NOT a fan of separate bank accounts. Full trust and cooperation should rule the day or else you should not consider getting married.

Answer 5

...This is a tricky question...I have not been in this situation, but I think...I would keep two separate bank accounts, and then have one joint account. I would put somewhere b/w 5% and 10% of each paycheck into that account. That way, y'all have a joint account to pay bills out of-and likely extra money for household expenses. But when it comes to extras, or gift-giving a separate account would help because then your spouse wouldn't find out how much it was. I hope it helps:O)

Answer 6

Well, I've been married for about 6 years now. My husband and I started out with separate checking accounts. That lasted for about a year. Things got too complicated trying to keep up with the too accounts, and trying to figure out bills, groceries and everyday needs. I would say, no. Combine the two accounts.

Answer 7

Yes - having one's own seperate account is important. Equally important is to maintain a joint account for such things that are combined responsibilities (rent, food, utilities). When a person gets paid 50% of cost of the combined respsonsibilites should be deposited into the joint account & when the bill comes due it is paid out of that account.

The rest of the paycheck each person brings home is their's & they can decide to put more into the account but never less. This is also irregardless of who makes more. This way each of you is contributing equally to the financial needs of the relationship/marriage.

Answer 8

No I do not think that you should have separate bank accounts. I think when you marry you should have a (or several) joint accounts. If you can't trust your spouse with money you should not have made them your spouse.

Answer 9

My hubby and I have joint accounts I also have one separate account that he knows about and one account that he has no clue about always protect yourself you never know if and when he might decide to pack up and leave If this happens you need to have funds readily available to pick up the pieces. So to answer your question open up a joint account with him and keep your separate account. It's not about being dishonest it's about protecting yourself nowadays nothing is promised regardless of what we want to believe.

Answer 10

We use separate bank accounts (with both of us as signatories on the other's acct.) In other words, 2 joint checking accounts. He uses ONLY a check card on his acct. I use only checks on mine. Why? Because he won't record checks and I don't trust the ATM. It has worked well for 20 years for us. All excess money goes into a savings acct that we each can access.