MIWM
VIP June 2019

Joint Bank accounts.

MIWM, on February 9, 2021 at 7:53 AM

Posted in Married Life 47

Do you and your spouse plan on having joint bank accounts or do you plan on keeping separate accounts. Just curious on everyone's Opinion on this topic. My Husband has been watching these financial videos and has been hounding me around us having a joint back account all of a sudden. We have been...

Do you and your spouse plan on having joint bank accounts or do you plan on keeping separate accounts. Just curious on everyone's Opinion on this topic. My Husband has been watching these financial videos and has been hounding me around us having a joint back account all of a sudden. We have been doing just fine with separate bank accounts. I know people who use joint bank accounts and it works for the and also know people who have separate accounts with no problems.

47 Comments

  • A.francis
    Devoted November 2022
    A.francis ·
    • Flag

    We have a joint savings account. That's it.

    • Reply
  • Kristen
    Savvy May 2021
    Kristen ·
    • Flag
    We will be joining everything together! It’s not about losing the freedom to be able to purchase whatever we want, it’s about working together on our financial goals and the easiest way to do that is together. We will be creating a budget together and we will both be allowed “fun” money. We are one once we are married so we want our finances to reflect that.
    • Reply
  • NewEnglandSettler
    NewEnglandSettler ·
    • Flag
    View Quoted Comment

    love this.. money is cited as the #1 reason leading to divorce and I personally feel that couples who get into the habit of budgeting together from the beginning have better odds in their favor. Unfortunately, many begin doing this only after getting into financial trouble. Good luck to you both and if you don't follow Dave Ramsey yet - I think you'd enjoy his thoughts on this subject!

    • Reply
  • Yasmine
    Rockstar October 2020
    Yasmine ·
    • Flag

    We have both a joint account as well as separate accounts. I actually have 2 separate accounts.

    • Reply
  • ArizonaDreaming
    Dedicated September 2021
    ArizonaDreaming ·
    • Flag

    We share a checking and savings. We have for the last 3+ years. I feel that having it combined has helped us stay ahead of the game, or at least on top of it. I could not imagine the stress of having the ask my partner for money. We are a team and everything should be combined for this reason. This is how we both feel.

    • Reply
  • Jai
    Rockstar May 2020
    Jai ·
    • Flag
    We have a joint savings and that's it. Our checking accounts are separate
    • Reply
  • Pirate & 60s Bride
    Legend March 2017
    Pirate & 60s Bride ·
    • Flag
    Only after 4 years of marriage am I ready to combine! We kept ours separate and never fought over money. We both share bills and have never questioned each other’s spending habits. You can always combine later. We are now going to 1 income (at least for a while) so I’m ok with combining.
    • Reply
  • Kristen
    Savvy May 2021
    Kristen ·
    • Flag
    View Quoted Comment
    “And the preacher said you are one!” Lol I love Dave Ramsey 😊
    • Reply
  • Eri
    Super October 2020
    Eri ·
    • Flag
    We're keeping all of our original separate bank accounts, but signed up for a joint Credit Union account.
    • Reply
  • MIWM
    VIP June 2019
    MIWM ·
    • Flag
    View Quoted Comment

    LOL!!! My Husband watches Dave Ramsey and has been freaking out about not having a joint bank account. We are doing perfectly fine with separate accounts.

    • Reply
  • MIWM
    VIP June 2019
    MIWM ·
    • Flag
    View Quoted Comment

    That's what my Husband and I have been doing and everything has been fine however he watches these financial videos and now all of a sudden he thinks it's wrong to have separate accounts

    • Reply
  • MIWM
    VIP June 2019
    MIWM ·
    • Flag
    View Quoted Comment

    Apparently the experts say when you get married you are one including bank accounts.

    • Reply
  • MIWM
    VIP June 2019
    MIWM ·
    • Flag
    View Quoted Comment

    Thank you for the advice I appreciate it

    • Reply
  • MIWM
    VIP June 2019
    MIWM ·
    • Flag

    Thank you everyone for all the advice and inputs it's greatly appreciate it.

    • Reply
  • Rebecca
    Master August 2019
    Rebecca ·
    • Flag

    We have both.

    We just recently opened a joint account, and we're mostly using it for savings for joint goals. Eventually, we'll likely add a joint credit card, and maybe switch to paying our bills that way, but right now, it's a stash account.

    • Reply
  • Alexis
    Savvy July 2021
    Alexis ·
    • Flag
    View Quoted Comment
    I do a similar thing to this! We have our paychecks deposited to the same checking account, and that's the one we use to pay bills and the credit card that we share (use for grocery and gas...get that cash back). We both have a sort of "allowance" that we move over to our personal accounts every month, which the other person can't necessarily see. (We have a budget spreadsheet we used to figure out what this amount should be). And also a shared savings account. So any large purchases is from the 'our money's pot.
    • Reply
  • Richaelyn
    Devoted July 2021
    Richaelyn ·
    • Flag
    Once we get married, we’ll have our separate checking accounts and a joint checking and savings account together. Our joint checking will be for bills & expenses, our joint savings will be for vacations, downpayment on a house, ready to have a baby...etc. I feel like this will keep us more organized with our money.
    • Reply
  • S
    Beginner November 2019
    Samantha ·
    • Flag

    My husband and I got a joint account soon after getting married, but will keep separate savings accounts. Our paychecks are very different, so seeing how much we have left to spend on food, bills, and entertainment is important to monitor our spending as a unit. We've been married for a little over a year now, and I prefer the joint account. If we go out to eat or get groceries, we just have the one card to use. It also helps that I don't have to ask if he's paid half of the rent like we did while we were dating in college.

    • Reply
  • Kristen
    Savvy May 2021
    Kristen ·
    • Flag
    View Quoted Comment
    Lol I think it’s kind of nice he wants to combine everything. It shows that he is willing to let go of the mindset of “mine and yours” and transition into a mindset of “ours” because in all reality that is the way it is when you’re married. But if you don’t feel comfortable with that then maybe start with combining one account and see how you feel.
    • Reply
  • Kaysey
    Super February 2020
    Kaysey ·
    • Flag

    My husband and I have our own checking accounts and a joint savings account. We are on each other's checking accounts though. We use the checking account where I am the primary as our "fun money" account and we pay bills out of the account my husband is the primary on. Both of our paychecks get deposited into the account my husband is primary on (with a portion of our checks automatically going into our savings account), and we move left over money into our "fun money" account. We use our "fun money" account for vacations and larger fun purchases.

    • Reply

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