Joint account or not?

posted 3 months ago in Relationships
Post # 2
161 posts
Blushing bee
  • Wedding: April 2016 - Tennessee

I know everyone feels different about this so I’m sure you are going to get many opinions. My husband and I joined accounts when we got married and that was over three years ago. We haven’t had a single problem with it. Honestly we don’t even think anything about it ☺️

Post # 3
47202 posts
Honey Beekeeper
  • Wedding: November 1999

kara71 :  It is always a good idea to maintain a banking and credit history in your own name.

We have individual accounts into which our pay is deposited. We also have a joint checking account to which we contribute proportionate to our incomes. We use that account to pay our joint living expenses.

We also have individual and joint credit cards.

Post # 4
246 posts
Helper bee

I’ve found more and more people are choosing the middle ground: one or two joint accounts and at least one separate account each. Joint account for joint expenses (house, kids, etc.) and separate account for personal expenses.

It’s really up to y’all, though, to determine what’s best for you and your lifestyle together.

Post # 5
1120 posts
Bumble bee
  • Wedding: August 2019

We have joint accounts, except a small personal loan in his name, and a small no-interest CC in mine.

We have a joint savings account, cheque account, and high-rewards Credit Card. And the mortgage is in both our names.

Honestly, it was the best thing we ever did. Just the little things – like never worrying about who is paying for what, or where money is going. It’s like we’re this one unit. It was shortly after we did this that Fiance proposed. Many people willl tell us we were foolish to join everything when we weren’t even engaged. But, I never had any doubts.

The way we went about it – Fiance started working for a new bank. We opened all the joint accounts with them, and one-by-one closed all the accounts with our separate institutions. Easy peasy.

Post # 6
207 posts
Helper bee
  • Wedding: November 2018

Yes, why not both?  Separate and combined is popular with my group of peers

Post # 7
956 posts
Busy bee
  • Wedding: January 2019

It just depends on what you’re comfortable with. We have a joint checking and savings and we also have separate checking and savings that is ours to do what we want with. We discuss what falls under joint or separate as needed. For me, having totally separate accounts was just too stressful once we bought a house and our expenses were so much higher 

Post # 8
1947 posts
Buzzing bee
  • Wedding: September 2017 - Pearson Convention Centre

We started our joint saving and checking account when we were 15. We had both started working part time in the Sumer and it felt right for us. We haven’t had any problems 

Post # 9
152 posts
Blushing bee

My husband and I share all our money.  One checking account, one savings account.  We started this transition shortly after getting engaged and it works great for us.  I hate paying bills and I’m terrible about making payments on time, he prefers to have the control and loves crunching numbers and reviewing budgets.  I have complete access to these accounts so both of our purchases are always transparent.  This has certainly made us more accountable for our financial health.  I used to impulse shop, now I’m more mindful because I know my husband will see those frivolous purchases.  And he gives me the same consideration, we discuss pretty much every purchase.  We both get to buy anything we want or need, it doesn’t feel restrictive.  It just makes me view my money differently because it’s not just mine now, it’s part of one marital pot.  We’re a team, in every way, and I believe managing money together has really strengthened our relationship.

Post # 10
547 posts
Busy bee
  • Wedding: January 2021 - Massachusetts

My parents do not have a joint account and it’s probably because my dad bankrupted them when she was married to him. Her and my stepdad just split bills from their own account. Many of my older coworkers do have joint accounts. One still has her husband go to the bank for her and take cash out! 

My SO and I have talked about this for when we are married and he thinks we should have a joint account. He told me “what’s mine is yours”. However I don’t agree and I feel like that’s his money and he earned it. I’m a really independent person so it’s just my personal preference. We compromised and decided when we get married that we will have a joint account got expenses. 

Its really up to your own personal preference 

Post # 11
528 posts
Busy bee
  • Wedding: August 2019

We opened up a joint accoung (checking and savings) when we moved in together. Our paychecks went into our own accounts, and we’d transfer a proportionate amount of money to checking and savings based on income, and we’d pay for bills/groceries/dates out of it. 

Starting shortly before we got married, we decided to sort of revisit it. Our paychecks still go into our personal accounts, but we transfer everything minus $200 of fun money to joint. That fun money (it has to last a month) goes for dumb things like coffee at work, lunch with coworkers, etc. We buy everything else out of our joint account. 

I think it’s good to have transparency. I also think it depends on what your parents did/what seems normal. As life goes on, it becomes more intertwined. I don’t understand how people maintain totally separate accounts with things like car insurance/house payments/daycare/etc. 

Post # 12
188 posts
Blushing bee
  • Wedding: September 2020 - New Hampshire

Separate accounts that our paychecks are deposited into and we have a joint checking account that we put money into to pay our mortgage, utilities, etc. We did this almost three years ago when we bought our house and we’re still boyfriend/girlfriend! I strongly believe you should have your own finances first then put allotted money into a shared checking. I hear too many horror stories….

Post # 13
380 posts
Helper bee

We have a joint and separate accounts. After we got engaged, our joint became our primary account. We also have credit cards (started with Costco) in both our names. Technically, most are mine and he’s an approved user, because joint credit cards aren’t really a thing anymore. 

Post # 14
12208 posts
Sugar Beekeeper

We are joint on all accounts, with no my money and your money. I do use one of the checking accounts for my daily personal spending but only for convenience and bookkeeping purposes. We run any large expenses by one another but don’t bother with a set discretionary amount each month since expenses can vary. 

It’s never affected my personal credit.

Post # 15
878 posts
Busy bee
  • Wedding: September 2015

My friends have a joint bank account and they are not even married. My husband is against the thought of a joint account.

if it makes sense to dump some money into an account but keep your own. I would do it. 

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