Seperate or Joint Accounts- In Marriage?

[FAMU]

I use to be against seperate accounts but now I have a new stance after having this discussion; but I am going to reserve my explanation why for now for the sake of not biasing others opinions. I will disclose my position later.

Tell me your position and why?

[Brightness]

If I were married I would have at least 3 or 4 accounts. . ..a joint household checking, a joint interest bearing savings, and an account for each partner.

As I said this is at least. . . . I've got four accounts myself and I'm guardian over my daughter's so that's five accounts. I guess I just like options and to have my money separated for different things. . . .I don't know how this is working but it must be just fine because I just opened the two new ones when I started at the bank.

[Toffee]

1) Joint Checking Account
2) Joint stocks, Mutual funds...


3) Seperate Checking Accounts
4) Your own 401K, stocks, CD's and Mutual Funds

I think its good to have the balance.. Now its up to the parties involved on how much of their personal income will be earmarked for the Joint Accounts.

[nubianx2]

Joint account for household bills and separate accounts for each partner.

[seductive_tee]

I have 2 accounts now, actually 3...

2 savings and 1 checking at one credit union
1 savings and XMAS account at another credit union

Don't mess with banks...

anyway

IF i ever get married we will have

1 joint savings and checking

Tina will have her same old accounts above

And hubby can have his own.

[Tastey]

We will have joint accounts. Savings, checking, and investments.

[mack_black]

there should be a mix of both joint and separate accounts...how many of each? well thats up to the couple...

[dns70]

joint accounts? fine.

separate accounts? fine too...

secret accounts? like my girls in Destiny Child (the original 4 with LaTavia and LaToya) used to say "no-no-no-no-no"

[Brightness]

I forgot to give my reasoning as to why I'd choose the way I did.

Basically, I would like to have my own money for which I don't have to answer to anything. This would be my own "mad money" to go on a shopping spree or whatever I wish.

Try as you might everyone's spending & savings habits are different. You almost always have a free spender and a hoarder, you have one who keeps meticulous records and one who hates to record/balance, etc. . . . it's highly unusual to have two individuals see eye-to-eye on money matters.

[OhSoPrecious]

Although I'm not married. . . I just think it would be wise to have separate accounts as well as joint accounts~!! :)

Mama always said. . . don't ever let him know how much money you have~!! :eek: Not every single red cent~!! :blah: :D

[SeaDuceme2]

Don't get it twisted!

I have always had and will always have MY own!!!

[sistuhchey]

Originally posted by SeaDuceme2+
Don't get it twisted!

I have always had and will always have MY own!!!



OLD SKOOL, NEW SKOOL, ONLY SKOOL.......come on fella's why ask a stupid question like that.......with direct deposit all things are possible....

[Juicey1]

I have two checking accounts of my own and one with my husband and he has one of his own. Then I have my savings account through the credit union at work.

One of my checking accounts is for my candle business, the other is the one I had before we were married. The same with the one he has on his own, he had it before we were married. After we were married, we took the money we received for wedding presents and opened a joint account. We pay bills from that account.

[shtalker]

Originally posted by SeaDuceme2+
Don't get it twisted!

I have always had and will always have MY own!!!



Amen to this!! I would rather be safe then sorry!!

[CD]

I'm the King in my Kingdom, so I control all of the finances. If any money is being hidden that’s treason and punishable by banishment....:(

Now on the real side, when two folks get married I think the two should work together for the common good of the union or corporation. That don't mean you become Siamese twins. The woman and man should have their own accounts: savings, checking, and 401k. Since it’s 2001, he or she needs to have their own credit as well. Joint accounts are for running the corporation. Now who has the most say on how corporate assets are allocated is based on who puts the most in, now thats where the shit gets thick.

[Brightness]

I'm going to have to exception with this. . . .I think there doesn't have to be any delegation on who gets the most say.

I had a discussion about this before when one party makes somewhat more than the other party. I said I felt that if both parties agreed to putting a percentage of their income into the account then that should be sufficient because both were contributing. However, a friend of mine said that if the man put in $1000 of his salary then the female should have to MATCH that amount. Suppose the man brings home $1800 and the woman only brings home $1300.

I told him that given that women generally are paid less (not always true but true the majority of the time) then that wouldn't be fair because the woman would in fact be contributing more because she had less take home pay.

Would the married folk care to tell us how they handle this one?

Originally posted by CD+
Now who has the most say on how corporate assets are allocated is based on who puts the most in, now thats where the shit gets thick.

[scoops]

Both Joint and seperate
Joint for things you do together , bills, vacation etc.
seperate for everything else