(Closed) Should we combine bank accounts?

posted 6 years ago in Married Life
  • poll: What accounts should we have?
    Solely a joint account : (34 votes)
    40 %
    Joint account- but each keep your seperate account : (47 votes)
    56 %
    Other- see explanation : (3 votes)
    4 %
  • Post # 3
    Member
    2601 posts
    Sugar bee
    • Wedding: October 2010

    It’s a personal decision and every couple is different. 

    We have a joint account and contribute an equal percentage of our earnings to it (meaning, the percentage is the same, not the resulting amount!–that’s because there’s some inequity in our earnings). 

    Really depends on what the two of you are comfortable with. 

    Post # 4
    Member
    519 posts
    Busy bee
    • Wedding: May 2012

    We only have a joint account, and for us this is the way to go. I totally belive what’s mine is his, and vice versa. There is no reason for me to feel that I need to hold money back as my own. 

    Post # 5
    Member
    1144 posts
    Bumble bee
    • Wedding: November 2011

    It is different for every couple. For us Darling Husband owns his own business and I am a Stay-At-Home Mom (I babysit 1 little girl) so Darling Husband has several business accounts that I have no access to. For our personal accounts Darling Husband has a savings and checking in his name, we have a joint checking, I have a savings in my name, and I also have a checking/savings account in my name for DS that his child support goes into. We have several accounts but only 1 joint account.

    Post # 6
    Member
    4477 posts
    Honey bee
    • Wedding: November 2012

    I think this is one of those things where it’s not a one size fits all answer.  It truly depends on the couple.  Regardless of what works out best for you guys, I do think it’s a good idea for both people to go over finances each months just so you guys are aware of how much you have, what you’re spending, etc.

    Post # 7
    Member
    2442 posts
    Buzzing bee
    • Wedding: April 2011

    It really depends on what you both prefer as a couple.  DH and I have never merged accounts.  We don’t intend to either.  He gives me cash that I put in my checking account.  I pay all the bills using both the cash he gives me and the money I earn.  We each save independently.  It works great for us. 

    Post # 8
    Member
    4419 posts
    Honey bee
    • Wedding: December 2010

    Before we got married, I added Darling Husband to my checking and savings accounts.  After we got married, he added me to all of his accounts.  We both continued to have our checks direct deposited into our own accounts.  Now, after being married for over a year, we’re combining all our accounts. We’ll have one savings, one checking, and then one additional checking account for me to keep track of my AVON sales, all at a local credit union. We’ll also keep the savings and checking account that we have a bank that has branches nationally for convenience when we travel.

    Even though we both had complete access to all the bank accounts, we waited a year to combine all our accounts so we could get accustomed to how each of us handles money. That way there wouldn’t be any surprises. Now that we understand and trust each other completely in that regard, we both feel comfortable combining everything.  

    Post # 9
    Member
    11390 posts
    Sugar Beekeeper
    • Wedding: December 2010

    I suppose its different for each couple. We only have one bank account, with all of our money in it. No seperate accounts. It works for us, but not for everyone.

    Post # 10
    Member
    7606 posts
    Bumble Beekeeper

    We’re not married yet, but I think we will be combining our accounts completely within the first year of marriage.  I think it will make paying bills a lot easier than it is now, with some in my name and some in his.

    Post # 11
    Hostess
    18637 posts
    Honey Beekeeper
    • Wedding: June 2009

    We have joint accounts and no seperate accounts.  It is so easy for us to keep track.

    Post # 13
    Member
    595 posts
    Busy bee
    • Wedding: October 2011

    @monique1218:  Well said, Monique’s husband. My FH and I currently have a joint checking, as well as separate savings and checking accounts. We plan on merging these when we get married and only have one checking and one savings. When we budget every month, it get extremely difficult to track his checking, my checking and our joint checking. 

    We are keeping savings separate until after the wedding. His savings is for our house down payment and mine is for the wedding. The only reason I’m keeping them separate is because I don’t want his head to explode when I start making the withdraws to pay for the wedding. 🙂

    Post # 14
    Member
    6221 posts
    Bee Keeper
    • Wedding: August 2013 - The Liberty House

    We have a google docs spreadsheet shared between us to see exactly how much we have/spend every month, but have a joint account for expenses and then our own separate accounts

     

    Post # 15
    Member
    4419 posts
    Honey bee
    • Wedding: December 2010

    By The Way, Darling Husband uses Quicken to keep track of all bank accounts and the value of all our assets. I have access to it, so I can see it any time. It’s a great program for keeping track of everything.

    Post # 16
    Member
    3220 posts
    Sugar bee
    • Wedding: February 2012

    We will be merging all accounts after the wedding.  I have 3 accounts of my own right now and it’s way too much to keep track of!  I’m so excited to just have one account.

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