Significant Other: Joint Accounts or Separate?

[Bootleg Betty]

Separate. Money is a personal thing.

 

[Bootleg Betty]

Not my fault she chose to be born without a penis.

So you'd be happier with a wife that has penis?

 

[jaedaliu]

Put your own checks into your own accounts and transfer in your portion of the monthly bills to the joint. Then pay from the joint account. Makes transfers easier with kids accounts too.

This is probably the easiest if you're planning on maintaining separate accounts. That way your automatic monthly transfer (or whatever system you use) will keep your joint account replenished so you should be able to pay bills without doing any special transfers.

My wife and I just keep 1 joint checking account. We have additional joint accounts for longer-term storage of money.

 

[mvbighead]

Joint. One less account to overdraw. but that is if married or the relationship is intended to be LONG term (I know a guy that refuses to get married again, and has been with the same lady for 5+ years now).

As far as hiding purchases or getting approval blah blah blah, screw that noise. I let my wife know what I am spending money on. She's only going to question me if I buy something completely nuts. Case in point, bought a new duck gun at $1300, and discussed it outright before doing so. My justification was, I am losing my vacation time due to a new job, but the vacation time is getting paid out. I used that money to make a purchase I would have never made otherwise.

She agreed enough to let me do it, and is happy that I am happy.

 

[highland145]

So you'd be happier with a wife that has penis?

LOL You should post more and lurk less.

 

[seepy83]

People just need to do what works for them. There's really no reason to have it one way or the other just to conform. What works for 1 relationship doesn't necessarily work for all relationships.

 

[purbeast0]

since my wife sucks with finances (and she knows this) and i'm good with it, both of our paychecks go into my account. there is another sub-account on mine, that is her own personal account. i take out the money for bills and stuff, then put the rest of the money from her paycheck into her account, and that is her money to play around with and do as she pleases. she just bought some $350 boots that i think is retarded expensive for boots, but it's her money to do what she pleases with. hell she doesn't get why i need a ps4 and xbox1, when i already have a ps3 and xbox360.

then i have a savings account also tied to my account that has some of our savings in it.

i can see all 3 accounts, she can only see her 1 account.

 

[dank69]

So you'd be happier with a wife that has penis?

We aren't discussing my happiness.

LOL You should post more and lurk less.

I agree.

 

[Vdubchaos]

Joint. We sit down and go over all of the finances together/make decisions together.

 

[TerryMathews]

Just something else to think about: if you live in a community property state and you're trying to maintain separate accounts get familiar with your laws. She may have the right to add herself to the account with a marriage certificate unless you have a spousal consent waiver on file with your bank.

 

[PricklyPete]

I am a big fan of joint and making all financial decisions together as often as possible.

 

[s0me0nesmind1]

Separate joint accounts. We can each access and transfer from each account as needed.
Her paycheck goes into "her" account and mine into "mine". Most of the bills come out of "my" account. I grab money as necessary to pay bills.

....So what about every meal when you go out to eat? Every movie theater visit? Every travel where you need 2 tickets?

Do you go through each and every bill and say "Split that, split that, split that" then add it up and take a full amount?

That is pretty much what I currently do, it's too much of a pain because my fiancee splits her money into multiple accounts. One for car related, one for home related (mortgage), one for normal expenses, and one for savings.... So yeah, I'm giving in and joining all of hers and making them joint. If necessary, we will create 1 personal non-joint. We don't see that happening at the moment. If anyone spends money usually it's me anyhow. I have access to all of her banks via online, so I just said screw it.

 

[jaedaliu]

....So what about every meal when you go out to eat? Every movie theater visit? Every travel where you need 2 tickets?

Do you go through each and every bill and say "Split that, split that, split that" then add it up and take a full amount?

Pretty much what I currently do, it's too much of a pain because my fiancee splits her money into multiple accounts. One for car related, one for home related (mortgage), one for normal expenses, and one for savings.... So yeah, I'm giving in and joining all of hers and making them joint. If necessary, we will create 1 personal non-joint. We don't see that happening at the moment.

Sounds like she has a reason to do that. She can keep doing it that way if she wants. You can pay your share when you go out, and she can pay her share. Many online merchants allow you to pay with 2 credit cards. In person you can do that, too.

However, I wouldn't do all that work if my wife wanted to maintain 4 different accounts and wanted me to do the money-moving-sufficient-balance checks every time a payment was due. I'd let her keep doing it her way.

 

[PieIsAwesome]

I think you are doing it right.

Marriage is joining two people into one. I don't see how one person could be divided into two for money's sake.

It is important to accept reality and recognize all the practical issues present. Our idealizations never agree completely with reality.

So whatever works for a couple.

 

[Scarpozzi]

If you're significantly married to your significan other, it makes a significant difference.

If not married, you shouldn't mingle fiscal affairs with your sexual endeavors unless it's by the hour.

If you're married, discuss your finances and decide what works best for you. My wife is fiscally responsible as am I. We have a joint account, but manage our finances separately. It divides the monthly responsibilities and allows us to have our own cash for whatever.

 

[PieIsAwesome]

since my wife sucks with finances (and she knows this) and i'm good with it, both of our paychecks go into my account. there is another sub-account on mine, that is her own personal account. i take out the money for bills and stuff, then put the rest of the money from her paycheck into her account, and that is her money to play around with and do as she pleases. she just bought some $350 boots that i think is retarded expensive for boots, but it's her money to do what she pleases with. hell she doesn't get why i need a ps4 and xbox1, when i already have a ps3 and xbox360.

then i have a savings account also tied to my account that has some of our savings in it.

i can see all 3 accounts, she can only see her 1 account.

Good boots are going to cost that much.

I don't see why you need an Xbone and PS4 with their sad current lirbaries.

()

 

[s0me0nesmind1]

Sounds like she has a reason to do that. She can keep doing it that way if she wants. You can pay your share when you go out, and she can pay her share. Many online merchants allow you to pay with 2 credit cards. In person you can do that, too.

However, I wouldn't do all that work if my wife wanted to maintain 4 different accounts and wanted me to do the money-moving-sufficient-balance checks every time a payment was due. I'd let her keep doing it her way.

She has a heavy budgeting concept. IE: If i don't have enough money in the "car account, I can't buy x car". For me, it's much more of an overall picture that I care about of net value.

I really don't care, we broke down our check deposits to the point where X% goes to x account, Y% goes to y account, etc.. etc.. It really doesn't matter to me, I'm the one that is the lord and master over our assets anyhow. I maintain ~10 different accounts already because I'm churning bonus' at the moment anyway. I have to explain to her: "No hun, there is $1500 in those 2 accounts because that's the minimum amount I have to keep or they will charge fee's. I'm just waiting for 6 months to be up and I'm withdrawing it all and closing those" Doh!

 

[WackyDan]

I've been married 9.5 years. We don't even have a joint account. Hasn't mattered. She is a stay at home mom. She has her own account that I give her money for now and then, but all expenses go through credit cards that are a shared account from that perspective.

Why no joint? Laziness in part... 2nd, she was horrible at managing her bills/debt before we were married and I feel more comfortable managing everything myself.

3rd... We've had problems in the marriage that has also kept my account separate. While a divorce would split things 50/50, the less she knows about spending and expenses the better.

If I die, she is listed on the account as the pay on death party and she has power of attorney via our wills... so she is covered there. She knows where my checkbook is and can write a check in my name if she needed to... The rub there, is that if she does so maliciously, she will have committed fraud. If I die and she does it, then she can pay the bills - most of which are paid automatically on a monthly basis anyway.

Joint accounts are from a day when the wife didn't work, did all the shopping and before the commonality of credit cards. I don't think we'll ever have a joint account.

 

[blackdogdeek]

Married, joint. She manages all the finances because she is a control freak and I am lazy. It works out pretty well. We discuss any big purchases that either person would like to make.

 

[alkemyst]

I would say both.

You have each of your own money and the joint account for common bills.

 

[TwiceOver]

If you aren't married, separate. The day after you get married, joint.

 

[I Saw OJ]

Wife and I have a joint account. I pay all the bills and she does the shopping(grocery, kids clothes...whatever) and we don't have any problems. We are in this together and having all the money go into my account then giving her some kind of allowance seems petty and ridiculous.

 

[rudeguy]

Wife and I have a joint account. I pay all the bills and she does the shopping(grocery, kids clothes...whatever) and we don't have any problems. We are in this together and having all the money go into my account then giving her some kind of allowance seems petty and ridiculous.

you are a good man

 

[Dr. Detroit]

Separate accounts - 20yrs of no joint accounts!

Divide up the bills, someone cuts the other a check each month for their half that is uncovered by the bill split (namely rent).

 

[Dr. Detroit]

So you don't believe in marriage?

We do not - Unsure why the Govt. is involved in peoples commitments to one another?

Last we checked - We're not real sure what the Govt gives you for that slip of paper aside from spousal SSI.