(Closed) Separate or Joint Checking Accounts?

posted 10 years ago in Money
Post # 17
52 posts
Worker bee
  • Wedding: August 2012

@MrsDulce:  great idea. same thing we did here. i do the bills and he has trouble with spending. 

Post # 18
561 posts
Busy bee
  • Wedding: June 2012

We currently have a joint account, but we also have separate accounts until we are married. Once we are married, we are closing our separate accounts. I know a lot of couples keep separate accounts, but I don’t see a reason why we’d need separate money. We may not agree on what one of us wants to buy sometimes, but then we compromise. It’s not easy- but that’s part of marriage!

Post # 19
3968 posts
Honey bee

Joint – because I didn’t want to deal with managing seperate accounts (DH is not good with money).

Post # 20
1298 posts
Bumble bee
  • Wedding: March 2013

We have one joint account because it’s easier to bank across the boreder with it. We each have separate chequing and savings accounts where our paycheques go automatically. I suspect after we’re married we’ll keep it the way it is, but put certain amounts into our joint account each month to pay for joint purchases.

Post # 21
2200 posts
Buzzing bee

One joint, separate checking and savings.

Post # 22
446 posts
Helper bee
  • Wedding: May 2012

We have separate accounts and we will for the forseeable future. Personally, I’d like us to have a joint account but Fiance doesn’t really see the point. I also have a savings account and he feels like its my money and he doesn’t want access to it b/c he feels like since I saved the majority of it before we got together, it’s not right for him to consider it ours. I think once we’ve been married for awhile and are ready for kids it will change but if his way works, we may never change it. 

Post # 23
36 posts
  • Wedding: June 2013

We’ve had a shared account since we moved in together – the first couple of years I was the one with the good income so I paid rent and food and things, then he was the one with the job and I was unemployed so our roles reversed.

Now that we both have a job we have a shared account for rent/bills/groceries/cars and pay for fun stuff from our personal accounts.

Post # 24
1236 posts
Bumble bee
  • Wedding: February 2011

DH and I opened our first joint account before we were engaged as we were saving to go an overseas holiday.  We each put a set amount in each payday.

Once we got engaged and my name went on the mortage we opened a joint cheque account and a second long term savings account.

Our salaries are both paid into our joint chequing account, DH’s pays the household bills (fortnightly pay) and mine goes into our savings (monthly) and then a specified amount gets transferred out into our personal accounts for individual spending (golf clubs for him, shoes for me!)

We pay all our joint bills (mortgage, utilities, groceries etc) out of our joint accounts and then our individual spending comes out of our personal accounts – works for us!

Post # 25
6377 posts
Bee Keeper
  • Wedding: October 2011

We combined before we were married (engaged, even) so we’re all joint for the most part. We each have our own personal savings accounts in which we have the same dollar amount transferred into from each pay period but the bulk of our money is combined. We like it that way.

Post # 26
1042 posts
Bumble bee
  • Wedding: November 2011

We’ve got 1 big savings account and 3 active checking accounts–mine, his, and a joint–and we only really spend out of the joint. The other two checking accounts act as fund separators so that we don’t end up spending into our holiday savings or our bills! All of our bills get paid out of his account, so he just transfers the excess from his salary into the joint account, which then becomes our regular monthly budget. My account (into which all of my salary goes and stays) acts like a savings account for un-budgeted stuff like holidays, expensive date nights, pricey clothes, unexpected expenses, etc. 

Works pretty well for us–we both only carry around debit cards for our joint account and just live within that budget. Means there’s accountability but also works well for guarding funds we don’t want to spend. 

Post # 27
2223 posts
Buzzing bee

Joint. My guy just started a brand new career and I now make twice what he does. There was no reason to leave him worrying every pay day if we could just join accounts and make his earnings more transparent and therefore more stress-free. That and it’s easier to keep track of everything in one account. We both have similar spending habits and savings goals so it’s really a breeze.

Post # 28
8941 posts
Buzzing Beekeeper
  • Wedding: June 2009

We have everything joint.  We don’t really need much seperate money and I don’t care if we take out some money each month as long as it’s not too much to break the budget.

Post # 29
646 posts
Busy bee
  • Wedding: November 2011

We opened a joint account once I officially moved into DH’s (then SO’s) house.  We kept our separate accounts too.  Now that we’re married DH wants to put most of our money in the joint account and just leave a little in our accounts, but we’ve not gotten around to changing that yet.

Post # 30
649 posts
Busy bee
  • Wedding: July 2013

Fiance and i have lived together 6 years and owned a house together for 4 years….we’ve always had “separate accounts”…I am ON his account (it was a formality for the mortgage and my RRSP’s come out of that…not that I put much into it…since i have a pension from my work)….but mine is completely separate….I really like my bank and don’t want to leave…it also could give us leverage when renewing the mortgage…

I have NEVER accessed his account that has my name on it…I write him a check for the mortgage/bills every 2 weeks….

this works for us…I was in an abusive relationship before and i was financially abused on top of everything…..so I like to keep my independence…it’s never been an issue for us….changing all my banking information is just TOO much for me……if we ever need a joint account we’ll get one…..we are each other’s benificiaries on everything though….THAT is the important part….

Post # 31
3696 posts
Sugar bee

We essentially have 4 accounts. Joint checking for all of the bills and expenses, joint savings for emergency/wedding/all other savings, and our individual checking accounts where we transfer our fun money to.

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