Having separate bank accounts?

Question

Do you guys think that in a family the husband and the wife should have different bank accounts.

Answer 1

I think there should be a joint account where all the together bills come out of and separate accounts for personal use. Like savings and maybe even a checking account for stuff like presents or misc items. There is nothing wrong with having joint accounts on everything but you do want to be prepared for anything in case of emergencies.

Answer 2

I think that it can work either way. If you are having problems with a joint account I would recommend doing separate accounts and splitting the bills. Me and my husband are about to try it out. He saves money and I spend money so I think that maybe I would be more aware of my spending habits if I had control over my own account and he wouldn't fuss at me for spending foolishly. Anyway, if it doesn't work then do joint accounts, it really should be a decision between the two of you and what you guys think would be the best route.

Answer 3

It can work, sometimes. After you pay the bills, groceries, investments, etc. split the remainder so you each have your own fun money. You need to promise not to give each other a hard time on what you buy if it really is excess cash. You may be surprised at how little you each start spending. Those $100 pair of shoes or new set of clubs don't seem so appealing when they have to come out of your own account.

Answer 4

The couple should be on the same page financially so that separate accounts are not necessary. It may be helpful however if one does a lot of travel for business so that any unexpected travel expenses (ie lost luggage and so forth) don't cause a negative effect on the household budget.

Answer 5

I kinda like the idea. At first I thought about the "trust" issue and then it occurred to me that having two accounts is a matter of trust as well. Even more so.

Answer 6

No, I like having one account to share or two accounts with both names on it. One for bills and the other for misc. things.

Answer 7

we have 3...one joint, and a personal savings for each. we use it mostly for little stuff that we want. joint purchases come out of the joint account. I like having a few of my "own" dollars to play with.

Answer 8

Totally. There should be one joint account for joint expenses (rent/mortgage, groceries, dining out, joint vacations, etc), and then each person should have their own account for their own expenses (clothes, hobbies, etc).

Answer 9

No, denotes lack of trust and already planning for divorce. When you get married, it's no longer "his money" and "her money" it's "our money".

Answer 10

Been there did that.
NO!