2007-11-30 08:14:35 · 13 answers · asked by Kamila 2 in Business & Finance ➔ Personal Finance
I honestly think it is between you and your spouse to decide. Every marraige is different. I do recommend keeping some time of seperate account for yourself (especially for spending and or emergencies) however it does not matter. As long as the two of you agree how the bills will be paid and who is going to pay them. For example, my husband pays all of the major stuff like the rent, cell phones bills etc, and I pay the small stuff like our electricty bill since we stay in an apt and it is really cheap. I use my account for the bills I pay (for the house or my personal bills) and he uses his account for his personal bills and house bills. As long as we both know that the bills are getting taken care of, it does not matter.
2007-11-30 16:52:13 · answer #1 · answered by mrs.diva25 1 · 0⤊ 0⤋
Both.
Have a joint account to pay the bills .. you both contribute to it. Then have separate accounts for your own spending as well, so you don't have to worry about coming up short if he spends too much, and he doesn't have to worry about it either.
It's far too easy to end up in hot water when both of you have atm cards and check writing privileges on an account you're using every day. When the bank charges you $40 for an NSF, they don't CARE if you thought there was enough but your hubby, stopping for the innocent fill-up or oil change, took out just $1 more than was needed to cover the check. Yes, there has to be some communication and unity between the two of you, but having to check in with each other before doing ANY spending is taking things too far - - that's counterproductive.
Good luck.
2007-11-30 16:22:15 · answer #2 · answered by Shell Answer Man 5 · 0⤊ 0⤋
I suggest you have as many accounts as you like to divide up the pie, so to speak. This is not really important and does not impact you much. The only cost is the possible bank charges, reduced interest because 3 balances are lower than one and may not meet minimum requirements, and if you have a will you will have to make sure it lists all your accounts.
My wife and I have only one account, but that is a personal choice, and it is likely because we only have one income, and she is the one who pays all the bills.
Here is one suggestion: If you go with separte accounts for purposes of dividing cash piles, at least actually open the accounts in joint names. This will help a GREAT deal if either of you die suddenly. The remaining spouse will be able to continue to access all accounts with no interuption. Otherwise, access has to wait for probate proceedings.
2007-11-30 17:08:01 · answer #3 · answered by joburgslim 2 · 0⤊ 0⤋
Both, have a joint account with your spouse
and have a personal account for your self.
Its hard to control a joint account. With
a personal account, you know the funds
available.
You can transfer funds from the personal
account to the joint account.
Have a nice day !
2007-11-30 17:42:28 · answer #4 · answered by Great Days 6 · 0⤊ 0⤋
If one person hates doing the bookkeeping associated with the household, then I think the other person should be in charge of the checkbook and all the money pooled together.
Each person should get an allowance.
All large purchases should be considered together.
I like the Suze Orman way, calculate how much % each of you contributes to the total and that's how much each person should pay into the household expense pot.
All of these things require honesty from both husband and wife.
2007-11-30 16:37:48 · answer #5 · answered by hirebookkeeper 6 · 1⤊ 0⤋
Both are. I had a joint bank account with my exhusband and I had my own. Both checks went to paying bills together. What we used as spending money I save my share for a raining day. Thank god for that. He turned out to be a big cheat and a drunk!
2007-11-30 16:24:24 · answer #6 · answered by kita 4 · 1⤊ 0⤋
We prefer to have both, a joint account to manage the bills and general finances and seperate accounts so we don't have to answer to each other for every bunch of flowers/gift we buy each other.
2007-11-30 16:22:37 · answer #7 · answered by einochi 2 · 0⤊ 0⤋
A joint account is easier to keep track of, assuming you are married. If live-in, then keep separate accounts.
2007-12-01 01:17:00 · answer #8 · answered by Steve R 6 · 0⤊ 0⤋
Depending on your ages and history it can really vary. I have a joint account with my wife for bills and we each have a separate account for our "allowance" money. It has worked out really well for us.
2007-11-30 16:18:44 · answer #9 · answered by crizdad 2 · 0⤊ 0⤋
The money guru Suze Orman recommends THREE accounts: one for your common expenses (e.g. mortgage, utilities, insurances, etc.), and one for each of you for your personal expenses (clothes, personal items, personal car, etc.).
Her recommendation makes a lot of sense.
Best wishes.
2007-11-30 16:29:52 · answer #10 · answered by Doctor J 7 · 2⤊ 0⤋