The great debate is whether to join the bank accounts or not. I am VERY stingy with money and worry an awful lot about my credit. My future husband on the other hand - beer budget, champagne taste. He doesn't worry so much about saving for the future, he worries more about having the nicest and best of everything - the TV, the laptops, bluray - stuff that is not really important to me at all, but, is still nice to have.
We went out for a birthday dinner with a friend who was very surprised when we got seperate bills and each paid for our own meals. He just assumed we had a joint account of that my future husband would pay for my meal. We have always paid our own ways - and I never thought of joining accounts. What do you guys do? Do you think its a good idea to join accounts - or is each having your own the best idea?
Friday, August 14, 2009
To Join, or Not To Join
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Stopping by from SITS to say hi!
ReplyDeleteWe've always had joint accounts. For me, marriage is about common goals, compromise, working together towards the same things. There is no his and mine.
But that's just what works for us. I'd be more concerned about the differences in spending philosophy. This is the first time I've ever visited your blog so I have nothing on which to base this but I know that if I was being responsible with my money and he was not managing his well, it frustrate me when it comes to things like buying a house, cars, raising children, etc.
Anyways, I hope you can figure out something that works for both of you!
We joined our accounts before we even got married! (easy for me, I didn't have anything). But I know some couples who have a joint account to pay bills and separate accounts for spending money. Seems to work for them. In any case, communication is the key. That's what I've learned after nine years of marriage!
ReplyDeleteHello. I found you thru SITS.
ReplyDeleteI agree with everything which Call Me Cate said. Money and raising children are major issues of marriage. Goals & philosophies are best to be worked out prior to tying the knot.
I sew a lot, but don't knit. It is something I think I'd like to learn. :-)
Just popping in from SITS....
ReplyDeleteOkay....I know I am going to be frowned upon when I say we keep it separated. We have "our' joint account and then there is my account. "Our" account is maintained by his income and "my" account is maintained by my trust income and investments. Although most daily bills are paid with the "our" checking, I pay all taxes, pay off credit cards when they get balances over 2000 and I have paid (flat out) for our cars and home. We have never held a mortgage or paid off a car. My trust and the income from it has made it possible for us to have nice things without the worry. We decided long ago, that if I'm staying home raising children and running a home plus all that goes with that, I would keep my checking and trust in my name only. It was a security issue at the time.....should ever he leave me and children, the house is mine and I have the means to take care of our children; not to worry about alimony and child support. We have been married 28 years now and we are still very much in love. We have been very fortunate to not have money issues come between us. And although the children are adults now and out on their own, we sill keep my accounts separate.....it just works well for us.
Hope you are having a beautiful weekend and congratulations and good luck on your future together. I wish you a beautiful future
I'm a fan of joined accounts. You can't think like a single person anymore, you have to think like a married person. His debt is your debt, your savings is his savings. Separate accounts aren't going to make those statements any less true. And, if he has a problem spending, you can monitor things better when you're in charge of the account!
ReplyDeleteI came by to welcome you to SITS! We're happy to have you with us! Congrats on your upcoming wedding!