Married folks - joint or serparate bank accounts?

[Conundrum 1]

If you're married, did you keep your money separated or get joint accounts?

And why?

GO!

[BrokenR1 0]

Started with a Joint only. Now have the original Joint plus separate accounts.

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Rap is to music what etch-a-sketch is to art.

[nigel99 143]

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If you're married, did you keep your money separated or get joint accounts?

And why?

GO!

Joint. Just seems to make sense and it also means I don't need to worry about paying bills

Experienced jumper - someone who has made mistakes more often than I have and lived.

[Remster 24]

Been joined since we moved bough a house after 6 months together. And why? Seemed like the most practical way to go.

Remster

[karenmeal 0]

Both. We have joint checking and joint emergency savings funds. Then we both get the same amount of fun money each month that we spend however we please. That way the husband doesn't ever have to hear me complain about him spending money on World of Warcraft and I can buy girly products without him saying anything.

"Life is a temporary victory over the causes which induce death." - Sylvester Graham

[catfishhunter 1]

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Both. We have joint checking and joint emergency savings funds. Then we both get the same amount of fun money each month that we spend however we please. That way the husband doesn't ever have to hear me complain about him spending money on World of Warcraft and I can buy girly products without him saying anything.

Same here.

MAKE EVERY DAY COUNT
Life is Short and we never know how long we are going to have. We must live life to the fullest EVERY DAY. Everything we do should have a greater purpose.

[shropshire 0]

I have my bank account and so does she

(.)Y(.)
Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome

[airtwardo 6]

...the husband doesn't ever have to hear me complain about him spending money on World of Warcraft and I can buy girly products without him saying anything.

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World of Warcraft IS a girly product!

~ If you choke a Smurf, what color does it turn? ~

[skydiver30960 0]

Until just a couple months ago we had separate accounts, but only because they were holdovers from before we were married. When we made the move to Arizona permanent we changed banks and just transferred everything to joint checking and savings accounts.

We have (technically) separate credit cards in that there is a credit card with just my name on it and another with just hers (also holdovers from pre-marriage) but we both have the account info and password for each other's card.

I know that many tout the values of separate accounts for "boundary issues" and ease of separation should divorce occur. It just seems silly to me to go through all that effort for something that only might happen.

...although I imagine those who've been through divorce in prior marriages might be more apt to keep finances as separate as possible...

Elvisio "she has my heart, why not my password?" Rodriguez

[karenmeal 0]

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World of Warcraft IS a girly product!

I would say that I completely agree; however, it is his fun money and he is currently out cutting down trees and splitting firewood in 96 degree temperatures while I am at home (mostly) relaxing.

Any other day though, bring on the World of Warcraft bashing!

"Life is a temporary victory over the causes which induce death." - Sylvester Graham

[catfishhunter 1]

We have separate savings account at a credit union in my wife's name only for security reasons both personal and buisness wise. My checking/savings account is for my "allowance" the joint account is what everything is paid out of and even though my name is on it I have never accessed it and pretty sure I have never wrote a check on it. My wife is the bookkeeper/accountant for all our buisness and for the family so if there is something I need to know she tells me.LOL

We use my "allowance" for dinners and treats/rewards for the kids(me included), guns an ammo, skydiving those types of things. Makes it easier to budget for the house as that money is only for the household and savings not for spending.

MAKE EVERY DAY COUNT
Life is Short and we never know how long we are going to have. We must live life to the fullest EVERY DAY. Everything we do should have a greater purpose.

[AggieDave 6]

We have a joint account and a joint savings, but we pay ourselves our "allowance" every pay day to our personal accounts. Works like a charm.

--"When I die, may I be surrounded by scattered chrome and burning gasoline."

[Squeak 17]

both our pays go directly into our mortgage account, and we draw from that for expenses REALLY fast way to drop a mortgage.
Mrs squeak also has a separate account for "emergencies"

You are not now, nor will you ever be, good enough to not die in this sport (Sparky)
My Life ROCKS!
How's yours doing?

[jimmytavino 16]

we have joint accounts..

i deposit into them
she withdraws outta them....

actually we have a joint savings account and each try to put some $$$$ into THAT, whenever we can. we try to grow that account, so rarely withdraw from it.
then there are 2 checking accounts. where Nancy is primary and i am secondary.... and one checking account where it is the opposite..we usually work well together to be sure all the bills get paid....

i also have a business account which She never really deals with.... i'm closing in on my check number 10,000 having been written...
Sometimes the balance get's "thin', but i never bounced a check out of it...been using it for 27 years now.

oh we also have a " cookie jar" account, which pays NO interest, but which offers us ready cash, ala an ATM machine... which Never IN MY LIFE!!!!!! have i used...hahahah. The cookie Jar funds are usually added to , by Me... but we both "draw from them" if needed....i don't mind,, as long as she tells me.. when she takes anything....Just like i always know what my exact number of jumps might be,,,even as it changes.... i also know to the Dollar... what's in the slush fund...

as for ATM's i would never trust a machine to take a deposit and feel it's a good way to bleed your accounts dry.... if you're constantly stopping to "grab 100 bucks ".... so i still do my banking , in person with the tellers... My daily schedule allows for banking during the hours that they are open...
I still believe in,,, "if it ain't broke,, don't FIX it"..

jmy

[skymama 35]

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as for ATM's i would never trust a machine to take a deposit

The ATM is the only way I bank with my personal account, haven't had any problems with it yet. With our business account, I still use the tellers because we don't even have a debit card for it.

As for the OP's question, with both of my marriages I had joint accounts but with my second marriage we had separate accounts that held the money that we entered the marriage with. The was the smartest thing I did with that marriage.

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

[AggieDave 6]

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as for ATM's i would never trust a machine to take a deposit

The ATM is the only way I bank with my personal account, haven't had any problems with it yet. With our business account, I still use the tellers because we don't even have a debit card for it.

As for the OP's question, with both of my marriages I had joint accounts but with my second marriage we had separate accounts that held the money that we entered the marriage with. The was the smartest thing I did with that marriage.

I like how with my bank I can scan a check or take a cell phone pic of the check and deposit it in my account.

--"When I die, may I be surrounded by scattered chrome and burning gasoline."

[guppykf 0]

Joint for household expenses with our paychecks going to separate accounts are the best way to go!

Joint account- both of us put the same amount in the account each month to cover household expenses; any extra cash at the end of the year goes towards vacations.

Our pay checks go into our separate banking accounts so there is never any bickering about buying new skydiving gear, buying cat toys or whatever silly things each of us choose to buy. Also, helps during holidays so you dont know what your gifts costs or them knowing what you spent. NOTE: We do have each other's names on our separate accounts in case of an emergency and not to have the money frozen in case of death.

Been together for 11 years and it is the best!! Previous marriage I had a joint and it was crazy how much we argued about spending money on X, Y and Z.

Additionally, this method avoids one of the main causes of divorce.

THRIVING IN MY DASH!!

[amstalder 0]

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I like how with my bank I can scan a check or take a cell phone pic of the check and deposit it in my account.

Me, too
As for the question, we have both types of accounts. Our checking accounts are joint, but we operate out of separate ones to simplify things. It's really annoying to go through the bank statement and figure who spent what where and making sure no one has hacked their way into our checking account. Plus, it's damn near impossible plan surprises with one checking account.

[karenmeal 0]

If that works for you then that is great.

Personally.. I could see issues cropping up if their was a significant income difference between spouses. It wouldn't seem right to me to be going around with a couple brand new rigs, custom embroidered expensive jumpsuits and my husband not being able to afford to jump..

"Life is a temporary victory over the causes which induce death." - Sylvester Graham

[AggieDave 6]

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I like how with my bank I can scan a check or take a cell phone pic of the check and deposit it in my account.

Me, too
As for the question, we have both types of accounts. Our checking accounts are joint, but we operate out of separate ones to simplify things. It's really annoying to go through the bank statement and figure who spent what where and making sure no one has hacked their way into our checking account. Plus, it's damn near impossible plan surprises with one checking account.

There is a good chance that we both use the same bank.

--"When I die, may I be surrounded by scattered chrome and burning gasoline."

[Squeak 17]

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If that works for you then that is great.

Personally.. I could see issues cropping up if their was a significant income difference between spouses. It wouldn't seem right to me to be going around with a couple brand new rigs, custom embroidered expensive jumpsuits and my husband not being able to afford to jump..

that's why we have joint accounts, communtiy funds, if you want it buy it.
If the price is significant, talk about it first.
I'd never prevent Mrs Squeak buying anything she wants

You are not now, nor will you ever be, good enough to not die in this sport (Sparky)
My Life ROCKS!
How's yours doing?

[kallend 1,623]

Both.

...

The only sure way to survive a canopy collision is not to have one.

[JohnMitchell 14]

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Plus, it's damn near impossible plan surprises with one checking account.

That's what credit cards are for.

We have joint everything, and very similar views on money. We buy a lot of things that we like, but both of us are pretty thrifty. We entertain at home a lot and do our own cooking. Vskydiver does her own nails and shops the clearance racks. Definitely not high maintenance. We have very few discussions over $$$.

[nigel99 143]

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I have my bank account and so does she

Whats yours is mine and whats mine is my own

Experienced jumper - someone who has made mistakes more often than I have and lived.

[futuredivot 0]

I have 2 checking accounts (personal and work) she has a checking account, a vacation account, and something else, and we have a joint savings account.
That may change as banks get more inventive in charging fees but right now it makes life easier to use different buckets.

You are only as strong as the prey you devour