Joint account or separate account

[KSUViolet06]

Putting my counselor hat on:

So many couples ignore talking about money when they're engaged (or even seriously dating.)

That's why it's important to seek some sort of premarital counseling because it forces you to talk about this stuff with a neutral party.

Ex: You're going to have a problem if you find (after marriage) that your hubby is all about having control of all money/spending decisions and handing you a $2o allowance per week when you would rather have a joint account.

There's a reason why money is one of the top reasons for divorce. Two people probably had TWO different views on money/saving/spending.

You need to know before you get married if your fiance's idea of financial security = payday loans from Cash O Rama.

[ADqtPiMel]

Married four years, I make more than he does. We have separate checking accounts and a joint savings account. He's responsible for paying the rent and his student loan payment; I cover everything else -- bills, trips, fun money, etc. He uses a credit card for small stuff (lunch at work, new clothes, etc.) that I pay off in full each month. Whatever's left over out of our checking accounts at the end of the month goes into the joint savings account.

My parents have always had separate accounts so I never really considered a joint checking account. I think it's important for everyone to have a little bit of their own money...just in case.

[KSUViolet06]

Originally Posted by ADqtPiMel

My parents have always had separate accounts so I never really considered a joint checking account. I think it's important for everyone to have a little bit of their own money...just in case.

My grandma gave me this advice (she was married in the days of women not working and husbands being the sole provider): Put $20 a week aside in a jar because you never know what could happen to your husband.

I don't know about cash in a jar, but everybody needs "rainy day" money. Not necessarily because something could happen to your husband, but just because cars break down, the garbage disposal breaks, etc.

[AGDLynn]

Single checking and savings account - easier to keep up with the balance.
He does have a small savings account at his univ credit union for when he was purchasing cars. I had one but cancelled when we needed the small balance.

We keep our laundry separate; to each his/her own.