Do you have joint or seperate checking accounts?

posted 5 years ago in Married Life
  • poll: Do you have joint or seperate checking accounts?
    Joint : (46 votes)
    42 %
    Seperate : (22 votes)
    20 %
    Other : (42 votes)
    38 %
  • Post # 46
    997 posts
    Busy bee
    • Wedding: May 2014

    We have a joint checking and joint savings. I technically have a seperate account too but only because it is linked to my credit card. I only keep enough money in it to pay the bill and all of the money is still joint.

    Post # 47
    113 posts
    Blushing bee

    paigey22:  Fiance and I are getting married in September 2015 and we are planning to have a joint account. It will just make things a lot easier for us.

    Post # 48
    10454 posts
    Sugar Beekeeper
    • Wedding: City, State

    We have our own accounts & one joint account.

    Post # 49
    188 posts
    Blushing bee
    • Wedding: October 2015

    We have seperate / joint bank accounts , haha i know thats a bit confusing but Ill explain a bit more. With chase we can link together so that we both have online access to both checking accounts (we even have seperate user login ids) but we are able to see eachothers transactions and even transfer money instantly between accounts. As for the credit card, we both share the same account but two seperate cards. 

    Post # 50
    860 posts
    Busy bee

    I voted other – we each have our own accounts and then we have one joint account. We aren’t married yet, but we intend on keeping things that way. We like being in charge of our own money, and then having funds we share. We consider all money to be “ours” but it makes us more comfortable not to have all our eggs in one basket.

    Post # 51
    1210 posts
    Bumble bee

    We have a joint checking and joint savings account. We each have our own credit cards. Originally, I really liked the idea of having a shared account and then an “allowance” account that we each owned for spending money. It just ended up being too complicated for us, and we use our CC’s as our “spending money”, get the cash back on the cards, and pay them off every month.

    Its nice having our own credit cards because then we aren’t nitpicking at each other over the day-to-day spending since we don’t see the transactions. We also have a $250 limit – if it costs more than that, we run it by the other person.

    I think to combine finances in any way, you have to be comfortable with giving up some control. I had a hard time at first, but now its working great.

    Post # 52
    22 posts
    • Wedding: January 2015

    paigey22: We have separate accounts now (engaged) but having been talking openly about merging out accounts since we moved in together (about a year and a half ago). Our wedding is in 3 weeks and if we don’t actually create a joint account before then, we will when we return. It will just be easier than having to draw from separate pots to cover mutual expenses (rent/utilities/car insurance/groceries/etc). We don’t keep track of who spends how much on what – we try to keep it even – but sometimes it’s more trouble than it’s worth. We will probably keep separate accounts for personal purchases, though.

    Post # 53
    5586 posts
    Bee Keeper
    • Wedding: September 2015

    bourkelton:  He does! I don’t know why I worry about those things. I always tell him when I’m a bit uncomfortable because I don’t know how he’ll feel… but our communication is pretty awesome, so I really shouldn’t worry at all.

    Post # 54
    1125 posts
    Bumble bee

    We aren’t married yet, but we will be in 3 months. We decided to do all joint accounts. We actually both have the same 2 banks, so it shouldn’t be too difficult. We’ll have 2 checking and 2 savings, and most likely just the 2 credit cards adding each other as authorized users. We’re going to be on a right budget, so it makes sense to be able to keep track of everything more efficiently.

    Post # 55
    52 posts
    Worker bee
    • Wedding: July 2015

    We have a joint checking that our paychecks direct deposit to. Everything comes out of there (rent, food, bills, etc). We take out the same amount of “fun money” every month, and that money goes to our personal accounts. We can do whatever we want with that money! Extra money at the end of the month in the joint checking goes into my personal savings, since it has a ridiculously awesome interest rate. We are both very business-like about our money, so this system works for us!

    Post # 56
    68 posts
    Worker bee
    • Wedding: May 2015

    We have a joint checkign and savings, and we both have seperate checking and savings. When we get married – Our paychecks will be deposited in the joint account, and I will then pay us each our allowance.

    The personal savings accounts we will keep and use for big ticket savings items and saving for each other’s birthday/christmas. My savings account will become the 5 year anniversary trip savings accont.

    Post # 57
    939 posts
    Busy bee
    • Wedding: January 1975

    paigey22:  We have both. Darling Husband has a checking and I have a checking, we then have a joint savings account that is collecting money for a house. It works well for both of us, as all of our money is accounted for and budgeted towards specific things. 

    Post # 58
    437 posts
    Helper bee

    We combined our accounts when we got married. We have a joint savings account, which money comes straight off our checks too. We also have a joint bill account. We determined our monthly expenses plus any other yearly expenses and divivded them by the number of paychecks in a year, which gave us the magic number. We took that magic number, divided it between the two of us, and also have that pulled off the top of our checks. Everything else from our check goes into a joint checking account.

    We do have different credit cards, so we use mine for internet, dining, gas, and groceries, and we use his for everything else… point wise that gets us the most points. We pay these bils out of the joint checking account.

    A question for all the bees who say that they don’t trust their spouses enough to share accounts… why? Money is a huge issue nowadays and, personally, I can’t imagine marrying somebody I couldn’t trust.

    Post # 59
    1073 posts
    Bumble bee
    • Wedding: August 2013

    paigey22:  My husband and I bank with the same bank, have seperate checking accounts, and one joint savings account. Works for us! 🙂

    Post # 60
    54 posts
    Worker bee

    Our finances are joint, but weird at the moment as we’re in different countries so we have two sets of accounts/currency.

    When we are back living together (in a week!) we will have both our wages paid into one account and all bills etc. are paid from that account. We then put A amount each into our personal accounts, B amount into the house deposit an C amount into the travel account. We leave D amount in the main account and put the rest (we work different hours each week so the amount we’re paid changes) into the general savings account.

    It works really well because we both have our own money to play with. If I was to save up and spend $1,000 on shoes SO doesn’t get mad about it because that money is mine. Same as when he spends (IMO lol) too much money on hiking gear I don’t care, because it’s his money. Any joint purchase (a new TV, weekends away, car repairs etc.) is paid from the joint savings account. If we want to buy something over $50 we discuss it first.

    We’re pretty relaxed about money, but now we’re going to be buying a house, planning a wedding and saving for 1-2 years of travel from 2016, we’ll be watching what we spend more carefully.

    I made a diagram for SO when we first discussed joining finances. It’s much easier to comprehend visually.

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