Would you have joint bank accounts while being married?

Question

Some people think it's not a good idea. I feel when you're married it's not just yourselves but you and your spouse together with finances.

Lliam · Accepted Answer

We use my bank account and we both have a debit card for it. We rarely use that debit card, though.
I pay the household bills like mortgage, utilities, insurance, etc. through that account. Some bills are automatically withdrawn from the account every month and I pay the rest with checks.
I'm retired with a pension and SS. That money goes into the account for paying our household bills.
My wife still works. She contributes monthly to that account, as well.
But she has a separate work account so that she can keep her work stuff like overhead separate from our household stuff. It would be a mess if all of our stuff was combined into one account.
She also has a money back credit account that we both have cards for and use for gas, groceries and some other things. The monthly bill on that add up. She pays it off every month from her business account so that there is never an outstanding balance and no interest charge.
She doesn't pay attention to my bank account and I don't know what goes on with hers.
She also makes some cash at her job and we spend that a lot on things for the two of us like restaurants, house cleaning and yard work.
All in all, we pretty much break even, although we do manage to save some for emergencies and vacations.
We both also have IRAs. Mine has a lot more in it. We dip into the IRA money occasionally.

What I'm saying is, all of our money belongs to the two of us. We're a team.

Fireguy17 · Accepted Answer

Yes we do.
There is a large income disparity between my wife and myself, so to make sure that there aren't any arguments about money we have separate accounts, and one joint account for household expenses like taxes, food etc.
That way if she/or I wants to buy whatever as long as the monthly bills are paid it doesn't matter what we spend our money on.
I have paid off her car, paid for vacations stuff like that because I am able to do so, and choose to.
And just because we also have a prenup to protect both of us.

OlderAndWiser · Answer

I opened a joint account yesterday with the girlfriend who lives with me. I see her as being forever in my future. We will both maintain separate accounts, for now, and will both fund the joint account for household expenses and savings for the future.

bamesjond0069 · Answer

Yes and no. She has a joint account so i can put money on it for her. I do not. I think money in needs to be deposited together and fungible. With one person then paying the bills out of it and then giving the other their allowance. Otherwise its just a disaster. Two people attempting to be independent actually become doubly dependent. Sure one pays the mortgage and the other the utilities. If either one of you fucks up you're both fucked anyways so are you really independent? Better just to have the most responsible person be responsible for it.

Anonymous · Answer

Seriously people--it's the 21st century. WHO in the freaking WORLD does this now? The ONLY reason people EVER had joint accounts is that you couldn't easily transfer money from one to the other. You needed to physically write a check, take it to the bank and deposit it. Now you don't need to do ANY of that. You can transfer money instantly over the phone.

That being the case, what the fuck is the POINT of a joint bank account? Why go through the hassle to open one. Seriously--this is a real question.

ChrisMaster69 · Answer

Yeah I did. It was far simpler and saved me a load of hassle.

try working away for 8 months on deployed operations and not having a joint account. I also wrote out or updated all my things from car insurance, direct debits, etc so that my wife could manage them when I was away,

jshm2 · Answer

Depends on the marriage, tax situation, and personal circumstances.

If one spouse is substantial and the other not, it's best not to go joint. Sometimes it's best to go prenup if there is substantial assets at stake.

Being married is about taking more responsibility, not losing it. You're just naïve is all

VanillaSalt · Answer

Married yes but I’ll never marry. With the state of marriage being what it is no I wouldn’t keep a joint account but she’ll get access to it either way at the end. But if marriage was real then yes join everything and work together.

Chriscunning · Answer

I don't at the moment. But we have a account which we share. Besides once debit orders and all run off there's not much left but an account number with my name on it.

DonkeyDan · Answer

We had a joint account for bills etc, but both had own own accounts and just paid a set amount in to the joint account each month.

The-Wise-Phoenix · Answer

No matter what the situation is married or not married a man would have to be crazy in this day and age to allow a woman full access to his bank account.

Iron_Man · Answer

Are you kidding me women love spending they shop constantly and go get their hair made up. Sometimes they don’t make wise decisions when buying things Or things that we need or don’t need. No way she would end up using most of it.

Made4sex · Answer

I mean I wouldn’t mind having separate accounts that we each use seperatlly. But I think that if you are married then you should both be on all of the paperwork and on all of the accounts and on all of the floors!

Pj1981 · Answer

My ex wife was controlling my bank account when I was 17, it was about 2 weeks after I opened it and I never touched the checkbook until we got divorced at 32

Adam1978 · Answer

A specific account for groceries sure but not anything salary goes straight into.

Anonymous · Answer

Yes I would. Joint bank accounts are convenient because either spouse can handle bills. Ideally I would keep my own account for my own entertainment budget but put all the bill money in a joint account.

iBeowulf · Answer

Why would you need to dedicate an entire bank account to buying joints?

DWornock · Answer

Of course I would. That doesn't mean that I wouldn't have a separate account, perhaps in my parents name unknown to her or else secretly buy gold and store it at my parents house.

OddBeMe · Answer

Sure. We also have separate accounts. Savings accounts are free if you don’t do too many transactions per month. And it’s proven to help you save money.

jamesgoldman · Answer

For household expenses sure For my business, savings and personal spending, fuck no

DeltaCharlieEcho · Answer

Married, of course. If you don't have a joint bank account, then you're not really committed. If you're not married yet, hell no.

Dog87 · Answer

Absolutely I wouldn't marry anyone I couldn't trust

Jamie05rhs · Answer

We would have one joint account, yes. And she would also have hers and I would have mine.

Anonymous · Answer

Only in certain states maybe. Never California or New York. I never getting married so I don't know

Anonymous · Answer

No. See that is the problem with marriage. Leave all that shit out of it. It's about love.

David_Bayer · Answer

It's quite common for couple to have a joint account where bothcof them put part of their earnings.

sattii2607 · Answer

We have one and our savings go in there. We have our own transactional accounts as well

Anonymous · Answer

yes but it's also important to have your own individual accounts just in case

newboy78 · Answer

No, I would prefer having individual accounts

Anonymous · Answer

Yes, one personal account and one joint account (both me and my partner)

Dennisjf12 · Answer

Yes, we did have joint accounts

EssenceOfLight · Answer

No. I want financial separation agreement anyway.

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