Married Folks: Do you have separate bank accounts?

[RedRooster]

Reading this, are seperate accounts maybe more common for two working spouses who earn roughly the same and like to spend their money on themselves for a reward from time to time without having to explain anything. And joint accounts are maybe more common when one spouse doesn't contribute quite as much financially(not a bad thing, as they contribute more in other ways) to the team, and the other prefers to give them access to whatever they have?
Both make sense, neither strategy is wrong.

 

[BurnItDwn]

Makes sense to have 1 account for bills/expenses (mortgage, utilities, etc)
Then each person to have an account for budgeted hobbies/toys

 

[actuarial]

Reading this, are seperate accounts maybe more common for two working spouses who earn roughly the same and like to spend their money on themselves for a reward from time to time without having to explain anything. And joint accounts are maybe more common when one spouse doesn't contribute quite as much financially(not a bad thing, as they contribute more in other ways) to the team, and the other prefers to give them access to whatever they have?
Both make sense, neither strategy is wrong.

Not necessarily. My wife/I definitely fit the first category and we have all joint accounts.

 

[Zargon]

technically yes....but not really.

 

[Uppsala9496]

Have separate checking and savings accounts. Technically they are joint accounts, however my paycheck goes into "my" checking, and hers into "hers".
The mortgage comes out of my wifes account, whereas most of the other bills out of mine. She is in charge of the finances for the most part and has access to all 4 accounts online.
Just seems easier to track things when they are in the separate accounts.

 

[BrownShoes]

Both joint and separate here.

All of my paycheck, except for $200, goes into the joint account. All of her paycheck, except for $200, goes into the joint account. That last $200 goes into our separate accounts. We pay all bills from our joint account. Any splurges, gifts, or other things that often cause fights amoungst married couples comes from our separate accounts.

If I want to blow $1000 on anything, that is fine, I just save up a few months. Anything at all, she can't complain (well except for if I spend it on other women, but that won't ever happen). Same with her.

The only real question is when there is a joint item that is mostly for one person. Like a new computer, is it for us or for her? So far, we've done those things through the joint account without any complaints.

That's the way that we do it - everything except $400 each gets put into the joint account.

 

[dpodblood]

We aren't married yet but, we live together and our expenses are shared. Currently we have separate accounts. In the future we plan on opening a joint checking, and a joint savings account. The checking account will be used for our monthly bills (rent, car insurance, food, power, internet, etc) and we will both put a certain amount in per paycheck. We will both contribute to the savings account to pay for things down the road which we both want (house, pay off the car early, furniture).

Other than that our spending money will be our own. Why? Because she will never understand why I need to upgrade my PC thats "only" 2 years old, and I will never understand why she needs a new bed set when the current blankets keep us perfectly warm.

 

[thegimp03]

We have joint bank accounts. We're both fiscally responsible and realize that we have lofty goals to meet - i.e. buy a bigger house, both of us will need newer cars at some point, kids in the future, etc.

However, I can see where having separate accounts makes sense too - from the standpoint that if your spouse is not responsible with money, then he/she can't dip into your savings every time they want to pay off their shopping spree. But then you should be questioning whether or not you should marry a person like that.

 

[MotionMan]

http://forums.anandtech.com/showthread.php?t=172764 :

We have had joint accounts since even before we got married.

(See Also http://forums.anandtech.com/showthread.php?t=191078)

MotionMan