my husband and I were married 7 months ago and we do not have a joint checking. we both had seperate accounts?

Question

pre-marriage. Is there really advantage of getting a joint checking or should we just keep it just the way it is. without openin and closing accounts. Feedback please

Answer 1

my husband and i have been married for long years now and we don't have a joint account. sometimes it's more practical that way. i believe it's okay for as long as spending habits are honestly laid out, and that both have mutual agreement as to how the money is saved and spent.

Answer 2

If things are working just fine the way it is, you can leave it as seperate accounts.

My husband and I have been married for 6 years now. Up until about 4 years ago, we always had seperate accounts. We only opened up a joint account because it was easier for us to manage our money at that time. We don't regret the choice, in fact, our only joint accounts are our checking (where all of our money goes in to), and one savings account (for car loan purposes). We have three other accounts that are seperate (all savings accounts). Of the three accounts, one is a savings for his car loan, and the other two are just savings accounts we have at a bank we used to use all the time, but only keep the accounts open as a "just in case" basis if we ever need a loan or anything from that bank.

I know plenty of couples who, after many years of marriage, have seperate accounts and don't have any joint accounts together, and they are perfectly happy. It's all a matter of preference, and should not be because one does not trust the other person (if that's the reason, the marriage is already doomed anyway).

Really though, this is something you should consult with your husband. Ask him if he has any reason as to not opening a joint account with you. It could just be that he didn't think of it (bank accounts are usually the last thing someone thinks about in a new relationship), or maybe he did think about it, but decided that since things go well with the seperate accounts, there's no need to change.

Answer 3

Everyone's financial situation is different, but this is what has worked for us You both can keep separate accounts that you each have discretion over and do not need to consult the other about what is spent from it. However, there should also be a joint account for household expenses, things like vacations and taking care of the children's needs if there are any. You should both agree as to how much will be deposited by each of you into this account, what it is for, and how decisions will be made as to extra expenditures from this account. You should also have a joint savings for future goals such as the purchase of a house or investments. As time goes on, you will work out kinks and perhaps change things to better suit changed circumstances.

Answer 4

Keep your seperate accounts, just incase u never know, & besides that's a piece of your independence, but get a joint account also so you can pay bills, groceries, trips, etc. that's what my fiance & I do & we've been together for just about 7 yrs & best friends for over 10 so it's not that we don't trust each other, we both know that we wouldn't screw each other if worse came to worse, it's just a piece of independence and something that we can have of our own. Also when pay day comes then we'll 40% to the joint, 40% to our own or sometimes we'll add a little to each others, & the rest is so we can have some actual cash on hand for just incase moments or places. It helps on the drama, security, reassurance, responsibilities, & our own satisfactions. Ourselves & the relationship as one all around.

Answer 5

Financial advantages for buying many things with a joint account. However, I would keep the private accounts as well. This gives you both independance when you want something and especially for gift buying. Keep a small amount in the private accounts for just that purpose. But, you will find a joint account for mortgages, taxes, etc is a plus.

Answer 6

If the seperate checking account is working for you now, then I would stick with it. If you decide as a couple to get a joint account, do it slowly. Open a joint account, but keep your seperate ones for a while. Then slowly start moving things into the joint.

Answer 7

If you truly want to make your marriage work then put everything into a joint account and work together on budgeting. Don't get into the foolish practice of you pay some bills and he pays others. You're just preparing for divorce that way.

Answer 8

I have been married for over 26 years, and we both have separate accounts. I don't think this has anything to do with you trusting him, or him trusting you. It is just nice to be able to buy things for yourself, and for him, without having to answer for every penny spent. It also gives you the ability to take him out to dinner when you can, and he can do the same for you. As long as you are both contributing to the bills, it is all good. What you both should have together is a SAVINGS account, where you can put money in jointly to save for big things-down payment on a house, furniture, etc. Do not worry about what anyone else thinks, it is really none of their business!

Answer 9

We have a joint account, which we use to pay all the bills, then we each have our own account for our own money. We each get $100 a month to spend on whatever we want - no questions asked.

Answer 10

My wife and I deposits are put into a joint account and all disbursement are made from this account. Disbursements include each of us getting weekly funds in our separate accounts, house hold bills, quarterly bills, annual bills, long term savings (items such as new cars, home, special trips etc.), become a million air fund.
Using this method we are always prepared. I depends on wheather you are trying to get ahead and stay ahead or spend like most in remain in debt or liviing from pay check to pay check.

Answer 11

since the both of you had started off w/o having joint accounts before marriage, you could either remain as it is (to prevent unnecessary arguments) or you could talk to your husband in a nice tone regarding having joint account, and seek his opinions (this only works if your husband is a reasonable and understanding guy)