(Closed) Does everyone assume you will get a joint checking account after getting married

posted 8 years ago in Money
Post # 17
1327 posts
Bumble bee

We have had a joint checking account since we moved into together, so yes we will have one when we are married as well.

Post # 19
1916 posts
Buzzing bee
  • Wedding: April 2012

I don’t plan to once I am married, because my fiance and I manage our money in very different ways.  He never balances his checkbook will hoard cash in his checking account before moving it to savings.  I balance my checkbook religiously and even account for every cash dollar I spend in mint.com and basically move all of the money out of my checking account to retirement funds as soon as I pay my bills on payday.  We both pay our credit card balances off monthly.  We are both frugal and great at saving, but we just have very different ways of managing our money.

Post # 20
1327 posts
Bumble bee

Honestly the joint accounts has been the best thing ever for us as I am able to budget very accuratly. We have two chequing accounts and 4 savings account, all joint. Chequing 1 is for monthly spending, Chequing 2 is for bills and payroll deposits, Savings 1 is a general savings account, savings 2 is long term savings (big ticket items), savings 3 is for health and dental, savings 4 is for school. I have automatic transfers set up every month to deposit the right amounts from Chequing 2 to Chequing 1, Savings 1,2,3. All my bills auto withdraw from Chequing 2 too, and I always always always make sure that on the first of the month we have enough money to cover that entire month (hence the auto transfers). It honestly is the best system ever! There is no way I would want to budget using seperate accounts.

Post # 21
527 posts
Busy bee
  • Wedding: October 2014

My Fiance and I started our joint account before we were even engaged!  Of course, we still have our own personal saving account but we also have the joint one which we cannot access without both signatures… so both of our minds are at ease and one of us can’t go on a shopping spree lol!!  We mainly use the joint account for saving for our future for instance a mortgage for a home or supporting us when we have children someday.  I guess we haven’t really discussed how we will manage our savings once we are married but I understand how you feel considering your past experiences.  You aren’t the only ones and everyone does what works better for them.  If it ain’t broke don’t fix it 😛 

Post # 22
14939 posts
Honey Beekeeper
  • Wedding: June 2011

@december bride:Just because we don’t put it in an account that has both of our names on it doesn’t mean we don’t share.  It just means that we each manage what we earn.

I agree with this 100%!  We originally thought we’d get a joint checking and merge accounts and money when we got married, but we ended up adding each other as joint users on each others accounts just to link them up so we can see all the money from our bank online login, and god forbid something happen to one of us, the money is accessible to the other person.  We still have our pay checked deposited into our own accounts though and spend fairly freely as we wish.  We’re both really good with money and “approve” of each others spending habits so theres no worry.  We dont split bills down the middle or anything, but each of us has stuff we’re responsible for.  Me: mortgage and taxes.  Him: everything else – all utilities and big home purchases.  A few times right after we got the house and depleted savings, one of our accts has dipped to almost 0 and we’d just tranfser some money over (that we dont bother keeping track of and have to pay back) to cover for the month. 

Post # 23
3525 posts
Sugar bee
  • Wedding: August 2010

Actually, I’m surprised you’re getting grief for keeping finances seperate. I always feel that seperate finances were more common than combined.

Oh well, do what’s best for you & your husband who cares what others say?

Post # 24
1287 posts
Bumble bee
  • Wedding: June 2012

@Natalieh86: we did the same thing for the same reason, for insurance purposes we had to establish that so I added him to my checking and he closed his.

We moved in together a year ago next month and our finances have been combined since then. He is a full-time student now and he works my side business with me promoting a health challenge which I plan to make my full-time job very soon and it works out great for both of us.

I think finances are a very personal thing. I think it is incredibly rude for anyone to ask, or to judge, what someone else as a couple is doing with their money!

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