(Closed) Joint Checking or Separate Accounts?

posted 8 years ago in Married Life
  • poll: Joint Account, Separate Account or Both?
    Joint : (42 votes)
    40 %
    Separate : (4 votes)
    4 %
    Both Joint & Separate : (60 votes)
    57 %
  • Post # 3
    Member
    1763 posts
    Buzzing bee
    • Wedding: September 2010

    We already have both. We both direct deposit a number we needed to cover our monthly bills and then some in to our joint checking. Then the rest of our paychecks go into our individual accounts.

    Post # 4
    Member
    3344 posts
    Sugar bee
    • Wedding: August 2010

    We’re planning on having a joint checking for shared expenses and a joint savings to save for a house.  We will also keep our separate checking accounts for personal stuff.  We might get rid of the separate account later, but we plan on keeping them for now.  We plan on keeping all said accounts at the same bank so we can do transfers easily.

    Post # 5
    Member
    2342 posts
    Buzzing bee
    • Wedding: May 2010

    We have our individual accounts and we just recently opened a joint account for your house bills and our wedding!  We will equally put in the same amount into the joint account.  I just think its easier that way for us so that we don’t fight about money.  I don’t want him to be mad at what I spend my paycheck on and vice versa.  Just as long as our HOUSE BILLS get paid!

    Post # 6
    Member
    3871 posts
    Honey bee
    • Wedding: November 1999

    Darling Husband and I have a joint checking account and joint savings account and then we have our own personal checking account.

    Most of our money goes into the joint checking to pay for bills but then $100 of each of our paychecks go into our joint savings and percentage of our paycheck goes into our personal savings.  The personal checking allows us to buy things that are for us.  For example-  clothes for me and comics for him… etc.

    We needed a joint checking because we need both incomes to pay for rent which is the biggest chunk of our bills and then it was just convienent to pay for car payments, cable, cell phones, credit card bills all out of that same account.

    It works for us.

    Oh, I do have more student loans then he does but since I make more than he does. It’s not a problem.

    EDIT:  Ok, I lied. hehe.  That’s what I did at first but now thinking about it, we pay our personal expenses using the joint account. We still have our personal checking account but really hasn’t been touched for a few months. 

    Post # 7
    Member
    913 posts
    Busy bee
    • Wedding: August 2009

    6 months ago we got joint checking and savings account.  It was so much easier!  My Fiance makes almost makes double what I do (I also waitress on the side for some extra cash now and then).  It was so much easier since everytime we went out we were discussing who paid last time and so forth….plus my Fiance has horrible spending habits and we needed to start saving for the wedding.  Now when we go out or purchase things it is so much easier since it comes out of one account.  We don’t run small purchases by each other, but when we have events coming up and gifts to buy or have large purchases to make, we run it by each other.  We don’t give each other allowances, but we are very open about our finances so it makes it easier!

    Post # 8
    Member
    5823 posts
    Bee Keeper

    We have a joint account that we pay the bills from, and we also have separate accounts to pay bills like our cell phones, etc.  Really it’s all just one big pot of money since we can transfer money between all three accounts, but it helps me organize our budget to do it that way and it also keeps us both from spending too much in any one month.  We also have join and separate savings accounts that work the same way (one saves for a house, one for his car, one for general emergencies).

    Post # 10
    Member
    6572 posts
    Bee Keeper
    • Wedding: February 2010

    we’re going to do joint. i’m unemployed, so we already have a joint credit card. however i have all the money in savings, so whenever we go over in bills i’m always transfering money to him which gets annoying, we already think of it as “our money”, so i’d rather just skip the middle man and have joint everything. we’re just waiting until i change my name so i can do it all at once.

    Post # 11
    Member
    1075 posts
    Bumble bee
    • Wedding: September 2013

    We will hav e a joint acct.  Only because he makes triple what I make.

    Post # 12
    Member
    4385 posts
    Honey bee
    • Wedding: May 2011

    We have both. Our pay cheques go into our Joint chequing account, we pay all of our bills, and then allot “fun money” which we move to our separate accounts. Like yrret though, we haven’t really touched our separate accounts in a long time! We are just very open about money and discuss our purchases. So far this has worked really well for us!

    Post # 13
    Member
    14186 posts
    Honey Beekeeper
    • Wedding: June 2009

    Both! I like having “my” money and he likes having “his”. He has no right to get mad at me for spending $50 on makeup/clothes/whatever stupid stuff and I can’t complain about him spending $50 on stupid videogames. Win-win!

    Post # 14
    Member
    1184 posts
    Bumble bee
    • Wedding: June 2010

    We’re not married yet but I added him to both my checking and savings bank accounts. Mainly because we needed to save up for our wedding together. He’s keeping his personal bank account.

    In our meeting with our pastor, the pastor advised us to have three bank accounts. One for my Fiance and one for me (separately) and one strictly for the bills. That was his advice. I think it’s very good advice and we plan to do that right after we get married.

    Post # 15
    Member
    375 posts
    Helper bee

    From the beginning, Darling Husband and I were already firm believers in “your’s” “mine”, and “our’s”.  We kept our own checking/savings accounts but we also opened a joint checking/savings/credit card account.  

    To date, we have not had any trouble discussing or managing our finances.  Our joint checking account is used for the mortgage, household bills, and groceries.  We each deposit a set amount of money into the account every month to cover all necessary expenses.  Our savings account holds the portion our tax return money that we bookmarked for saving and anything else we’ve saved together for “emergencies”.  We have a 1 year old daughter so it’s very important to the both of us that we have emergency money stashed away. 

    Our personal accounts are exactly that…for example, I bought DH’s Valentine’s Day present (his first grill!) out of my personal money.  I don’t have to worry about any joint monitoring with my own account.  There’s no room for potential hurt feelings or disagreements this way. 

    We also opened up a savings account for Madison when she was only a few months old.  All of her birthday and Christmas money gets deposited in there and we have both committed to depositing a set amount each month towards the future cost of a starter car for her.

    Post # 16
    Member
    1246 posts
    Bumble bee
    • Wedding: June 2010

    Right now my fiance and I do not have a joint accont that we both use, however we are technically joints on each others accounts, but dont use them to pay joint bills, if that makes sense. I live at my fiances house that he owns with his brother (who is now living with his fiance) but i dont pay half the mortgage, that is split between them two, so we realy have no joint bills right now. However, after they sell this house and we buy another house and have more joint bills, we are going to have a joint checking which our paychecks will be deposited into, a joint savings which we will put a set amount into once a month, and whatever is left over will be deposited into our individual checking accounts to use as our fun money. There is no sense in having seperate savings accounts for us, because we see it as OUR money and saving together for things such as vacations and other large purchases.

    The topic ‘Joint Checking or Separate Accounts?’ is closed to new replies.

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