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Separate bank accounts? Why or why not?

Posted by on Mar. 25, 2014 at 9:29 AM
  • 184 Replies
1 mom liked this

 I was just curious how many of you share bank accounts with your DH vs keep separate accounts. DH and I still have our separate accounts and are going to keep it that way because it works for us. The mortgage and gas for his truck come out of his account, and the rest comes out of mine. It all ends up being even.

Some people have commented on how strange it is that we do it this way because "you're supposed to share accounts when you're married", but we don't really view it as "my money" and "your money". It's "our money in his account" and "our money in my account".

Do you have separate bank accounts or joint?




by on Mar. 25, 2014 at 9:29 AM
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Replies (1-10):
SarahSuzyQ
by Sarah on Mar. 25, 2014 at 10:30 AM
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We have joint, and we both have the passwords to everything. Since I'm a SAHM, it would be hard to get much money into "my" account... But honestly, we joined our accounts when we got married and were both working full-time. I don't get the point of having separate accounts, but I'm happy you've found a system that works for you!

GypsiSky
by Platinum Member on Mar. 25, 2014 at 10:42 AM

We have several joint accounts.

mommyof11050307
by Bronze Member on Mar. 25, 2014 at 10:44 AM
We have a joint and he has his own account for gas for work since he drives a ways for work.
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lasombrs
by Sara on Mar. 25, 2014 at 10:52 AM
1 mom liked this

dh doesnt have a bank account. i have one only for ds ssi. we are cash only otherwise. We dont have much extra money besides bills anyway but i keep money for small emergencies or treats for the kids in my paypal account ebcause he would waste it on beer and cigerettes if he knew i had it and it was cash in the house.

othermom
by Ruby Member on Mar. 25, 2014 at 10:54 AM

My husband has a seperate one and we have a joint one as well. The only reason it is joint is I opened it to cash a check I got for my birthday and in orcer to get the money right away we needed to add him to the account since he has had an account with them a while so we did.  We always talk before any money is with drawn.

mom2jessnky
by on Mar. 25, 2014 at 11:04 AM
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We have a joint account, there's absolutely no point in us having separate accounts.

heydooney
by Danielle :) on Mar. 25, 2014 at 11:08 AM
We have a joint account. They were separate but linked at our last credit union because mine was set up under my dad's account when I was a kid and the only way to remove it would have been to close the account and open another one. We didn't see the point so we left it.
Fields456
by Silver Member on Mar. 25, 2014 at 11:11 AM
We only have joint accounts because that's what works for us
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happynewyorker
by Member on Mar. 25, 2014 at 11:21 AM

When at the time I met my no x husband, he had said to me "give me your paycheck and I'll pay the bills".  I wasn't married at this point.  I told him no, you pay ur bills and I pay my bills.  I at the time was paying my bills and the rent, since my name was on the lease. 

Then when we officially moved in together and decided to marry and have a baby.  We still didn't have a shared account.  He paid the rent, his bills and what ever he did with his car. I paid my bills, anything that had to do for our child, groceries, items for the home. 

At one point when he decided to get a car. We opened a joint account, so that we would put money in from both our paychecks for household expenses.  When he purchased the car, he was short and he took out over 1500 from this account. When he told me about the car, I asked if he used any money from the joint account.  He said yes, I was short. So how much is left on the joint.  He took it all and that was it on trusting him. He never paid the money back, since 1k was mine. 

If I was to do it again. I would have to see if I would have a separate account or joint account.  I think a lot of decision would have to go into it.

Kaybean
by Member on Mar. 25, 2014 at 11:22 AM
1 mom liked this
We have a joint account. I think it's a little odd when married couples keep their money separate.
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