Do you believe in a separate or joint bank account?

@Mirita (2668)
United States
September 19, 2007 1:28pm CST
Well, in my household we have a joint bank account because we both believe that everything we have belongs to the family. I noticed that lots of couples now prefer to have separate bank accounts and they seem to have a difficult time sharing their money. Do you think is wise to have a joint or separate bank account with your spouse?
4 people like this
16 responses
@ailema4ever (2668)
• Finland
20 Sep 07
It depends on the couple. My parents have separate bank accounts but they never had trouble sharing their money. My husband and I have both accounts: a joint account and a separate account, and we've never had any problems sharing our money yet. (hopefully never he he he...) I know two of my friends have both kinds of accounts, as well. My parents have been married for almost 29 years now, so at least that's one legitimate fact that I can share here that it can work that way, too.
@Mirita (2668)
• United States
20 Sep 07
I really believe that it depends on the couple. As long as they share the expenses and not just keep the money to themselves without sharing the responsabilities. Congratulations to your parents for their successful marriage.
1 person likes this
• Finland
20 Sep 07
Yes, that's true, as long as they share expenses together and they're not fussy about sharing responsibilities. THANKS for your kind words about my parents. ;-D
@andyliuzn (1029)
• Guangzhou, China
22 Sep 07
Well,me and my partner would use two different a/c, but we both know each other's pwd and would use each other's bank card by exchange.:) Andy
1 person likes this
@Mirita (2668)
• United States
22 Sep 07
Well, this type of arrangement seems to be working for you. The important thing is that you both share the responsabilities.
1 person likes this
@pendragon (3351)
• United States
20 Sep 07
I don't believe in doing anything separately once you're together.You're funding the same dreams ,right?Paying the same bills,yadda.
1 person likes this
@Mirita (2668)
• United States
21 Sep 07
We love having a joint account because we do everything together and we love sharing with our kids too. Also, is a lot easier to pay bills.
1 person likes this
@devilsangel (1817)
• United States
20 Sep 07
Me and mine have a joint account because it just works better for us. When I was with my ex we had separate accounts but I also didn't trust him having access to my money. I think that couples should have joint accounts and it shouldn't be a "your money" or "my money" type thing.
1 person likes this
@Mirita (2668)
• United States
21 Sep 07
Yes, having a joint account works great for me and my husband because we have the same dreams and we feel that whatever we have belongs to the two of us.
1 person likes this
@whywiki (6070)
• Canada
20 Sep 07
We have separate accounts but we share the money. Ever since we have been together whats mine is his and whats his is mine. We just kept the same accounts open we had when we met but we have each others pass codes and share everything. I have friends that share all the bills 50/50 and keep there money for themselves and I always thought it was kinda strange and selfish like the one with more money can lord it over the other. I figure we are a team and we share. All for one and such...
@Mirita (2668)
• United States
20 Sep 07
When a person is married to a wonderful person sharing is beautiful . Yes, whatever we have is ours and not yours or mine. To me a spouse is more than just a roomate.
1 person likes this
@ssf12ster (489)
• India
20 Sep 07
seperate only. but still my spouse signs up with allth permissions from her. even if you open one differences wll crop up and it will not work out.so better to be a single account.speak the truth and then no problems will occur.
1 person likes this
@Mirita (2668)
• United States
20 Sep 07
Yes, people fight regarding money because there is a lack of honesty between couples.
1 person likes this
@cutepenguin (6448)
• Canada
20 Sep 07
We have a joint account - all of our money is ours. We also have separate accounts, as well as separate credit cards. If anything happened to one of us, the other one would need money to do things until everything got cleared up. But we know each others' passwords, it's not like the money isn't shared. it's just money, after all. (On the other hand, we might feel differently about it if we actually had any money).
1 person likes this
@Mirita (2668)
• United States
20 Sep 07
Yes, a combination of a joint account and separate accounts is fine with me. In our situation ,we love sharing everything we have and it seems to work for us. Money has never come between us.
1 person likes this
@shy_gal (235)
• Malaysia
20 Sep 07
Hi Mirita, i think both of that have different effects. If joint bank account with spouse, we can know each other financial more easily. We can agree that each other save one part of our paid into the account, then our spouse wont spend the money widely.But if we want to withdrawal the money from account, there have some difficulties. We need ask the opinion from our spouse to do so. Sometime quarrel might be occured. But if using separate bank account, we have more freedom. We can use our money without the verification from our spouse, Thus, maybe for the person who spend more will more diffcult to save the money into the account..
1 person likes this
@Mirita (2668)
• United States
20 Sep 07
Yes, in a situation when you have a person who spends a lot money it might create problems ,but in a situation where the two of you are the same is fine to have a joint account.
1 person likes this
@misheleen73 (6037)
• United States
20 Sep 07
My husband and I share a bank account. Why say, you pay rent, I pay the car. You pay for the groceries, I'll pay the phone bill. That is ridiculous really. If wee are paying the bills together, then why not have a joint account? It's fine if you want to have a separate account for savings, etc. (I don't we save together as well) But to pay bills, etc we have both our checks go into the same account. Been married 12 years and have yet to have a problem.
1 person likes this
@Mirita (2668)
• United States
20 Sep 07
Yes, I feel the same as you because is easier to have a joint account and pay the bills together.We enjoy doing everything together and we both share everything we have with our kids too. We both can buy whatever we want as long as we don't put eachother in trouble ,but we are both very responsible.
1 person likes this
@pismeof (855)
• United States
20 Sep 07
Mirita, I think it depends on whether or not you are making some of the money for the household. With the rate of divorce as rampant as it is saving a little nest-egg for yourself isn't a bad idea. Once you get a little bit of money together you then may want to begin investing in Stocks , Bonds, CD's (certificates of Deposit) or Mutual Funds for a greater return on the money than simple interest from a Bank.
@Mirita (2668)
• United States
20 Sep 07
I have a business account on my name only since I'm the one doing the business ,but we enjoy having a joint account in order to pay all the bills. We are both very similar and we have been married for over 21 years. Yes, I have my own CD since the interest is better.We both have access to our family joint account ,but we are both very responsible.
1 person likes this
@lecanis (16661)
• Murfreesboro, Tennessee
19 Sep 07
My husband and I like having separate accounts so we don't have to consult each other to make sure how much money is in the account every time we make a purchase. Since we're actually kind of poor, we could easily overdraw our account if we had a joint account and both of us made a purchase at the same time without consulting each other. It's just easier for us to have separate accounts because of that. I've known so many couples who have a joint account and seem to always have to be calling each other throughout the day or freaking out over something that happened on the account going "What the heck is this?" So I'd just rather not deal with that. If I have my own account, I know exactly how much money is in it at all times, and I never have to worry about overdrawing because my husband bought something at work or whatever.
1 person likes this
@Mirita (2668)
• United States
20 Sep 07
Well, a separte accounts seems to be working out for you and your husband. As long as you both help out with the bills if you are both working. I think is really up to the couple and how they feel comfortable. As long as they don't fight because of money.
1 person likes this
@cher913 (25859)
• Canada
19 Sep 07
we have both in our house. i have my own account as here in canada we get a childs tax bonus each month and i have my account so it can go in there. but my paycheque goes into our joint account so we can pay bills etc...
1 person likes this
@Mirita (2668)
• United States
19 Sep 07
Oh! I didn't know that you have a child tax in Canada. Yes, to pay bills is best to have a joint account.
1 person likes this
@ravinskye (8242)
• United States
19 Sep 07
We have a joint bank account also. its just easier to put all our money into one place. That way there aren't any fights over who has to pay what. all our money is in one place and we use it to pay for everything. We have also opened up a savings account for each of our kids and they can put their own money into there.
@Mirita (2668)
• United States
19 Sep 07
Yes, I agree because everything is easier. As long as you and spouse are responsible I think is the best way to pay bills.
1 person likes this
@feliniti (875)
21 Oct 07
Hi Mirita. I think if it works for you then it is ok to have both seperate and joint bank accounts. I transfer some money into a joint bank account each week which we use for bills and joint ventures. I also have a seperate account for my own and so does my spouse. If you have joint responsibilities I think a joint account is a good thing, but I also prefer having my own account as well for the things I need.
@Mirita (2668)
• United States
22 Oct 07
You have a good point because as long as you both share your responsabilities is okay to have your own account.
1 person likes this
@scorpio16 (1707)
• India
15 Oct 07
I believe in a joint account operated with a mode "Either or survivor". This has got flexibility of working with money. I have few accounts and 90% of those are joint with my spouse. It is always better to have joint accounts.
@Mirita (2668)
• United States
15 Oct 07
Yes, As long as both spouses are responsible is easier to have a joint account.
1 person likes this
@cher913 (25859)
• Canada
19 Sep 07
we have both in our house. i have my own account as here in canada we get a childs tax bonus each month and i have my account so it can go in there. but my paycheque goes into our joint account so we can pay bills etc...