(Closed) Did you combine your bank accounts after you were married?

posted 7 years ago in Money
  • poll: Separate accounts or combine them?

    No, kept separate accounts

    Yes, combined all accounts

    Kept a separate account for gifts/savings

    Other. See comments

  • Post # 16
    555 posts
    Busy bee
    • Wedding: July 2020

    View original reply
    Janelle123:  +1

    we opened a joint account when we became engaged and moved in together. our finances were also seen as “ours”, not “yours” and “mine”. We still have a few of our own accounts though.

    Post # 17
    10449 posts
    Sugar Beekeeper
    • Wedding: February 2014

    We created a joint account when we bought our house, but we’ve still kept all of our original separate accounts. 

    Post # 18
    18627 posts
    Honey Beekeeper
    • Wedding: June 2009

    We combined accounts when we bought a house together when we were engaged.  We don’t have seperate accounts but we do have seperate credit cards (even though I added him onto my oldest one).

    Our retirement accounts are seperate because that is the law.

    Post # 19
    1837 posts
    Buzzing bee
    • Wedding: July 2016

    I haven’t done anything yet, but plan to do what’s detailed in this article: http://apracticalwedding.com/2014/03/managing-your-money/, which is similar to a previous poster.  

    I like the thought of having a joint account for the regular, fixed joint expenses, and separate ones for personal spending. I like this because it makes bill-paying fair and automatic, and we don’t have to “hide” personal expenses from each other or get annoyed that one of us buys an expensive x-box when we’re saving for a house… not like that’s happened recently or anything. 🙂

    Post # 20
    3206 posts
    Sugar bee
    • Wedding: April 2015

    We combined before we made the decision for me to go to law school, so before we were engaged.

    My super meagre income during school made it a necessity. It would have been odd for me to have to ask him for money, and we had been together for 8 years at that point, and living together for 4. 

    Post # 21
    2051 posts
    Buzzing bee
    • Wedding: May 2013

    Both DH & I had some money saved up before we were married.  We didn’t live together until after we got engaged.  When we got engaged, we opened a joint checking account for wedding gifts.  He continued paying for the household expenses like he did before I moved in, and a large % of my paycheck goes into a savings account.  We don’t plan on combining our everyday checking accounts until after we have a baby, because I plan on being a Stay-At-Home Mom.  

    For our retirement savings & investments, we still have them separate.  We do have a plan to meet with a finanial advisor to discuss the best way to invest both of our 401ks and other investments.

    Post # 22
    1812 posts
    Buzzing bee
    • Wedding: May 2013 - Pavilion overlooking golf course scenery, reception at banquet hall

    We combined accounts a couple months after getting engaged. We opened a joint checking and a joint savings, and transferred most of our personal balances to them. We each left about $1000 in our personal accounts in case of emergencies/gifts, and we occasionally put one paycheck in the personal ones to replenish them.

    Post # 23
    963 posts
    Busy bee

    We didn’t combine accounts but we opened up a joint chequing and savings account. Every month we transfer equal amounts to the joint chequing and savings, and anything leftover is ours to keep and spent however we want. 

    It’s nice because Fiance is more cautious with his money than I am, so if I want to treat myself to lunch one day, I don’t have to feel guilty.

    Post # 24
    10627 posts
    Sugar Beekeeper
    • Wedding: January 2011

    All the money is ‘ours’ regardless of the name on it.  Our main chequing account and CCs are joint.  Legally, some accounts can’t be joint, and we also have other separate accounts, CCs, etc.

    Post # 25
    1213 posts
    Bumble bee
    • Wedding: September 2014

    View original reply
    betterthansunshine:  We already have a joint account now that we live together. We are engaged now, and basically share all of our money anyways, but separate accounts mean that we can buy gifts for each other etc, without the other knowing how much we spent. I’m guessing once we have kids if I stay home for a while we will just have one bank account, but for now with both of us working separate accounts work. Plus my car and insurance are in my name, and his is in his, whereas when we are married we will probably combine our insurance.

    Post # 26
    959 posts
    Busy bee
    • Wedding: September 2013

    My bank that I’ve been with is in my home town 2 hrs away, so I mostly bank online with direct deposit, etc. It’s a federal credit union, and I have a car loan with them at a great rate since I’ve been a member so long. Hubs bank is in town and he’s had his account for a long time. So we decided to keep our own accounts that we have now and open a joint savings account at his bank with all the wedding money we had. So we have that started. Each month I put in a set amount via direct deposit and hubs transfers his set amount each month into our savings. This lets us have our money together, which we are saving for our move next year or any emergencies that come up. We also have our own money for gifts, personal shopping, etc. We also buy our food seperately since I eat special vegetarian foods, so we buy groceries separte which may sound weird but we’ve done it this way for 4 years!

    Post # 27
    1989 posts
    Buzzing bee
    • Wedding: October 2013

    We joined accounts and kept separate accounts for spending money. Our pay checks go into our personal accounts then we transfer over everything but our “allowance”! We have a very specific budget and are working on paying off our debt. It works outo great for us. 

    Post # 28
    1920 posts
    Buzzing bee
    • Wedding: November 2013

    View original reply
    betterthansunshine:  We kept our individual checking accounts and opened up a joint checking and joint savings.

    Post # 29
    5407 posts
    Bee Keeper
    • Wedding: June 2014

    We combined everything a few months ago (our wedding isn’t until June). It was easier and cheaper for us since I’m still a student and so our accounts (chequing and savings) are free (: We don’t make enough money for us to split up our incomes between separate accounts since I only work every other weekend aha. It works for us and both of us are comfortable with it. We have the exact same spending/saving habits so it hasn’t been a difficult transition at all.

    Post # 30
    3822 posts
    Honey bee
    • Wedding: August 2013

    View original reply
    betterthansunshine:  we have:

    1. joint checking account where the bulk of both of our checks are deposited into. we pay bills and other major expenses from this account.
    2. joint savings account
    3. separate checking accounts for personal spending (the rest of the money from the pay checks gets deposited into these accounts. employers allow us to split out direct deposit into several accounts)
    4. separate retirement accounts

    it may sound complicated but once we got it all set up, it runs SUPER smooth. no questions or concerns about who is doing what in the account. we have our own money for whatever we want to do separately (buy each other gifts, shopping, hanging out with friends). our bills are paid with no problems and everything is on schedule and within budget.

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