(Closed) Separate or Joint Checking Accounts?

posted 9 years ago in Money
Post # 32
3681 posts
Sugar bee
  • Wedding: December 2011

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@pinkshoes:  This is what we did too.  

Post # 33
4430 posts
Honey bee
  • Wedding: June 2013

We started a joint bank account after our engagement party for vendor payment purposes.  It will be our checking/savings account for our future here on out.. We will also have seperate savings accounts.

Post # 34
720 posts
Busy bee
  • Wedding: January 2013

We have 4 accounts at the moment, all joint. We have our main account for everyday use, a wedding savings, a house savings and an “other” savings, for things like car repairs. We’re not married yet, but we’ve had joint accounts since about 1.5years into our relationship, when we moved to another city together.

Post # 35
390 posts
Helper bee
  • Wedding: January 2013

I believe that when you get married, all accounts should have both names on them.. regardless if both use them.

I feel like it’s part of being married. Our lives, our money, our stuff.

Post # 36
25 posts
  • Wedding: June 2012

We are getting married in a month and discussed this. Because we are long distance, we are keeping accounts separate for now, but adding each other to them. I dont have a job (still in school) and my bills are covered by my parents, while he takes care of his own. We did open a joint savings to put in present money from the wedding.

Post # 37
1318 posts
Bumble bee
  • Wedding: October 2012

Shortly after getting engaged, we set up a joint account. This is for our wedding expenses. We still have our old accounts and our money is still seperate except that now everything extra goes into the joint account. When we put the deposits on the venue and photographer, we pulled from the joint. When I bought my veil and shoes, it went on the joint card. 

After the wedding, both of our paychecks will go into the joint account and all bills and mutually decided purchases will come out of the joint account. We will give ourselves allowances that we will transfer from the joint into the individual accounts each month. 

Post # 38
6109 posts
Bee Keeper
  • Wedding: August 2012

@soonergirl518:  We merged our incomes fully during the engagement period.  I moved into his home the day after we were engaged.  Once I paid off all my student loans (took me about 2 months) and when my home sale was all cleared from my account, we merged our money.

We have the same ideas, goals, theories on money, so I have to say we have not had one arguement at all about money which is so refreshing.  Plus we’re cranking away on our retirement savings and we have some goals in mind.  It’s considered our money even though the incomes are not equal.

In my former marriage, we had separate accounts, but a shared checking (mostly so I could move money to pay bills from my account).  I kept it separate because he like to spend $$$, didn’t believe in saving for the future, and wracked up tons of overdraft fees.  I honestly didn’t want him bringing me down financially.  He was uncontrollable.  I wish someone would have slapped me back when the ex and I were dating.  If I were the person I were today, I would not have even dated him.

Post # 39
85 posts
Worker bee
  • Wedding: September 2013

My Fiance and I have a joint account and we also have two personal accounts (one for me, one for him.) After our wedding we will keep this setup; it works really well for us.  With the joint account we pay bills and buy food. With our personal accounts we do what we please. We consider all monies as belonging to both of us. It is just similar to break it up like this so everyone feels in control. We also share a savings account, that each month we both put money into. 🙂

Post # 40
10449 posts
Sugar Beekeeper
  • Wedding: February 2014

We already have a joint bank account, which we set up when we bought our house last year. We have a joint credit card as well but we have also maintained all our individual things. So our paychecks go into our own accounts, but we each have an auto transfer set up to put in a set amount each month to our joint, which we use for everything pretty much.

The only things I still buy on my personal accounts are clothing, going out with my friends and gifts for him (which he obviously can’t know about!).

Funnily enough, he bought my engagement ring on our joint card since that’s our big point collector. Since he uses his personal card so little, it’s just a no frills card and we couldn’t pass up that many aeroplan miles! Even if I did see the charge on that month’s bill and pay it (since I handle the money stuff mostly).

Post # 41
133 posts
Blushing bee
  • Wedding: December 2014

Separate.  My money is my money.

Post # 42
1915 posts
Buzzing bee
  • Wedding: April 2012

We just decided to get a joint cc and joint savings.  We’ll keep our checking accounts separate and continue paying for the bills the way we’ve split them up.

Post # 43
4634 posts
Honey bee
  • Wedding: December 2011

we already have a joint checking.

we will get a joint credit card that we will use for all our purchases then pay that out of our joint checking.

also have individual accounts for gifts, etc. so the other wont know how much their gift was, etc. lol

Post # 44
1621 posts
Bumble bee
  • Wedding: July 2012

We have our separate accounts that we’ve always had, and we’re opening a joint account this week. Starting next month we’ll deposit our paychecks into the joint account to pay our shared bills and expenses with.  Right now I make 1/3 of what he makes so I feel a certain awkwardness using ‘his’ money for things that are purely personal (non-cheap, non-essential) purchases although he sees no issue with it (he says I can alleviate my guilt by thinking about how I do most of the cooking lol)

Post # 45
461 posts
Helper bee
  • Wedding: July 2013

About a week ago I asked my FH about money and bank accounts. I said do you want to have a joint account and his response was why? We currently have two separate. He pays certain bills and I pay certain other ones. I think once we get married they will stay separate but I think we’ll add each other for those just in case moments.

I don’t know. MY question to those who have separate and one joint, how do you determine how much goes into each account? What exactly do you use your joint account for? your separate one?

Post # 46
1915 posts
Buzzing bee
  • Wedding: April 2012

Just a warning for those keeping separate checking accounts, it was a huge pain to deposit the wedding checks.

Several checks were written to louisianablue AND Mr. louisianablue, Mr. and Mrs. louisianablue, and louisianablue OR Mr. louisianablue.  They gave me a really hard time about cashing the checks into either of our accounts, because we aren’t joint account holders.  The bank teller was like “Well you know most people do change their name…”

For those giving gifts, do them a favor and just write the check out to one person. 

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