Not unless we were married. If married, though, then yes. We both contribute to the account and can see the banking activity, so why not? It's a mutual account from which we pay household expenses that benefit us both as a team.
The only exception is, if one or both of you are self employed. In that case, it's best to have separate business accounts to pay for business related overhead, etc.
My bank account became our joint account. I manage it and use it to pay bills and expenses. We invest our excess income and don't keep a lot of money in a savings account because it pays little interest and also because banks suck.
My wife is self employed and has a separate account for her business. She manages that account and contributes money to our joint account every month. It would be complicated for me to manage our joint account if all of her business activity was being conducted from it.
The only other thing I'll say is, a husband and wife have to know that they can trust each other. They're in it together for mutual, not individual, benefit.
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The only account that I would share with a partner is one for the up keep of the home, each putting a set amount a month to cover utilities (Electricity, water, cooking/heating gas etc) and an emergency fund for repairs or to replace items like TV fridge cooker etc.
No. Just no.
1) just like how a good person can be influenced to do bad. Man's heart is inclined to do bad given the right circumstances.
Too much Power corrupts, this is why the government has those branches and vice president.
It can leave room for abuse because a healthy relationship involves a measure of independence. Sharing accounts doesn't necessarily mean Codependency, but it can inspire this.
2) Don't keep all eggs in one basket. If something goes wrong with his money and yours, then, no'one can help the other.
Whilst we do have a joint bank account which takes care of all our household expenses, we still retain our own individual accounts for personal items.
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I would. If I can't trust her with money, then I shouldn't be with her.
Have shared a account with my husband since we got married. Before that he just let me use his card when I went out so basically was sharing back then too
Never again. When she decided to end things she called the police on me and instigated a domestic abuse incident over nothing. Cops showed up and arrested me, because it was a Friday I spent the weekend in the County lock up. When I got out she had emptied our joint accounts, emptied my account, sold my car, sold my stuff, changed the locks on our house and had a restraining order against me. Previously to that she had spent $8000 on my credit card and was hiding the statements. She withdrew the charges when she realised I had to have a clean record to work, no work meant no alimony. Bitch.
No, my bank account (money) is my power in society and my leverage in the relationship. If I am married, I will maintain a joint and separate bank account and NEVER mix both. That is what smart men do to protect their financial resources. A woman has the legal advantage should things go poorly, in that case your money is your only life raft in this world.
I would as shared goals can help a couple stay together. But with one condition: if he doesn’t financially help his family without consulting me first. I have faced this problem in the past so I have to be aware of this. Other than this he can do whatever he decides with our shared money as I trust him.
I have faced the problem of financially helping irresponsible family members both with my father and my fiance. But I feel this as sabotaging me as I work hard and save.I'd share one with a spouse. Unless they had bad credit. Partner implies other levels of commitment not as high as marriage as people call someone they are just dating or living with partners.
As for the bad credit. I'd want a clear distinction of assets. In case they need to file for bankruptcy. As I'd want to establish a clear distinction of assets. To make it hard to impossible to attach my assets to the bad debt.if I ever dated again… no marriage until me and her and both mine and her lawyers signed the prenuptial. Until then no cohabitation not even a toothbrush at my home. No combined finances ever until the day I die then I’ll leave what I got to her… it’s not that women cannot be trusted on the contrary if you marry w it gout trusting your a fool… but if you trust she won’t and don’t act as though she COULD then your a bigger fool.
Aside from having my own business & personal accounts, I have joint business & personal accounts with my husband. The joint business accounts are essential for running the businesses we co-own. The joint personal accounts are essential for running our household.
Mostly we share a credit card for household expenses. We also have our own money. She’s retired, I’m not. I work from home, she takes care of almost everything else. She gets a monthly deposit and can do whatever she likes with it. It’s ridiculous for adults to be asking for approval for every expense. There is his, hers, and ours.
I wouldn't have a problem with this at all.
But I would even go as far as having my own account, so I can buy things for presents for her so she doesn't get wind of it before the day. Or my own personal hobbies, that way it doesn't take away from other finances that are important.
And I would also have a joint account for food, gas, bills.Male or Female does not matter to me. This is NOT a battle of the sexes thing to me. Allowing another person have total access to your money and other securities is a ticking timebomb. I can list 20 to 30 situations where a spouse left after cleaning out a bank account. Then wasted it all. This is not considered theft by most Judges. I think EVERYBODY should listen to these words. "a fool and his money are soon parted"!
Only once we are married. Even then only after we had a very thorough conversation about what the joint account would be used for. Also, even with a joint account I would still hold a separate account for myself. The joint account would be for the expenses that should be joint, such as utilities, rent/mortgage, child care, etc.
My wife and I have a joint account for all of the house hold expenses.
We have a big disparity in our incomes, net worth, and I do not agree with her spending habits.
This way she can do whatever she wants to do with her money, and so can I.
So we do not have any arguments about money.
It is both our 2nd marriages, and we have a prenup.that would depend where we were as a couple. living together for a long time and not constantly fighting, sure. just started dating or even living together awhile but are constantly fighting, nope. even with a yes from me its only a kind of partial thing where we both put into one and still have separate accounts or whim ever is not putting money into it has only limited access to a joint account.
If we would be married, yes. Otherwise, no way!
Maybe a better option would be to have a common account with a specified amount of money, in which money from both would be added and we would use that money to buy stuff for the house or to make trips etcI think I would honestly suggest 3 bank accounts, where each deposits a set amount to the shared account each month, while both still have their own freedom. Then pay mutual bills like rent and food from that.
I see it with my dad, lol, he has to account for everything he spends from the account, while my mother spends way more. My dad would always hide some cash for himself, couple of 100. Can't be healthy 😂After I got married, we had a joint checking account. It wasn't until about a year or two before the end of our marriage (20 years) that we separated them. Guess she didn't want me knowing she was cheating on me.
Never throw all your eggs in one basket. There should be both a joint and a separate account (individual account).
It's a no for me.
Having separate bank accounts comes with a certain level of individual freedom. So when partners merge their money into a joint bank account, it can create frustration, resentment, and maybe even some financial problems. In these instances, having separate bank accounts might ease some of the tension.
For joint accounts to work well, you need a basic level of trust, shared goals, and desire for transparency which sometimes it hard to come by.If we were married, I would open a joint one, however I would also have my own separate accounts where my money would also go in case shit goes tits up.
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