Comments on: The practicality of joint or separate bank accounts

By: Samantha@CreditCardShoppe

Samantha@CreditCardShoppe — Sun, 19 May 2013 08:38:03 +0000

My husband and I have always had joint accounts. This works for us, and I think it keeps us unified as well.

By: Financial Black Sheep

Financial Black Sheep — Wed, 20 Mar 2013 16:20:25 +0000

Mr. FBS and I have had a shared checking account since we moved in together when we were dating. I have been the money tracker and one to help him pay off his debts. A joint account made it easier for me to keep track of and pay all bills, because everything was all in one simple account.

By: STEVEN J. FROMM, ATTORNEY, LL.M. (TAXATION)

STEVEN J. FROMM, ATTORNEY, LL.M. (TAXATION) — Sat, 16 Mar 2013 13:01:33 +0000

We have never had a joint account but the merits you mention are clear. Our method has never actually been discussed but my wife pays all of our regular bills and I pay all the large bills like real estate taxes, income taxes, credit card bills, etc. It has worked for over 30 years.
One nice thing about your joint account is that if you tie it into a Quicken like program you can monitor and track expenses, set up a budget and cull tax deductible items very easily.

By: Megan

Megan — Sat, 09 Mar 2013 09:30:21 +0000

Husband and I have joint accounts and it works well for us.

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By: KC @ genxfinance

KC @ genxfinance — Wed, 27 Feb 2013 15:12:16 +0000

Sounds like a good plan. Yes, you are already a family thus you should help each other out in your expenses. You also need to take the time to sit and talk about all the flow of your income and where you are spending your money for your family.. Everything will be transparent and it avoids any arguments later on regarding money.

By: Digital Personal Finance

Digital Personal Finance — Wed, 27 Feb 2013 04:55:21 +0000

I’ve always been a proponent of joint accounts, as it promotes teamwork and unity as one. Additionally, isn’t marital income legally joint anyway in many (most?) places, regardless of what account it’s deposited into?

By: maria@moneyprinciple

maria@moneyprinciple — Tue, 26 Feb 2013 20:58:57 +0000

We have always had a joint current (checking) bank account and never saw the point in keeping separate. Some people told us that kjeeping separate makes it more straight forward when people split up. For crying out loud! I didn’t merry planning to separate! Cr*p happens but one shouldn’t ruin one’s life preparing for it and expecting it.

By: Mo' Money Mo' Houses

Mo' Money Mo' Houses — Tue, 26 Feb 2013 19:48:44 +0000

That’s definitely something me and the BF have been discussing, especially since we’re getting hitched soon. All our finances are separate, and even living together for over a year, it’s worked out great. But I’m thinking we may need to get a joint checking account at least when we have a family together. I guess a combo is probably what we’ll end up doing.

By: Glen @ Monster Piggy Bank

Glen @ Monster Piggy Bank — Tue, 26 Feb 2013 01:40:56 +0000

We have multiple joint accounts and a few individual ones. It would be a lot easier for us to just have a few joint accounts though as it can be difficult calculating where all our money moves around to.

By: Edward Antrobus

Edward Antrobus — Mon, 25 Feb 2013 23:51:41 +0000

We have a joint account for most stuff, but I don’t want to saddle her with all of my debt, so that is taken care of from a separate account.

By: maria@moneyprinciple

maria@moneyprinciple — Mon, 25 Feb 2013 20:09:50 +0000

We put everything into a single account. We also have a fun and an investment account but again these are joint. We are planning to have personal ‘pocket money’ accounts so (in theory) we can buy each other presents without it being so obvious. This seems to be the best solution.