Monday, April 6, 2015

Confession: I Don't Have a Joint Bank Account with My Husband


This may strike a chord with a few of you who are very traditional, but Dave and I have separate banks accounts. The money that we earn is ours to spend as we choose.  I understand that the choice Dave and I made to not share our money with each other seems selfish, but in reality it's something we both agree works best for us. That may not be the case for everyone else. If only one of us brought in an income, then it wouldn't make sense for us to not have a shared account. 

It all started when I was 18, before Dave and I even began to date. I read an article that stated that the main source of all fighting between couples was money. I decided at that moment that if I removed the source of the problem, I'd never fight with my significant other. When Dave and I began to date, we kept our single accounts even as our relationship progressed. For the record, Dave and I have never fought about money. 

Another reason why we don't have a joint account is that we are both terrible budget-ers. When I get paid I separate my money out into what needs to be paid, and set aside money for gas and food. Any money left in my checking is my money to do with what I please. I never have to worry about whether or not me taking $10 from my account is going to mess Dave up. 

Just to be clear, this isn't fully what is my money is mine and what is yours is yours and your on your own. If either of us need anything, the other one always is willing to help, and we share bills all the same. When bills need to be paid, Dave transfers his half to my account and I pay the bills. And if one of us is down, the other one picks up the slack. 

I know this way of financial living doesn't work best for everyone, but for Dave and I it works out perfectly. Anyone else out there married with a single account? 

13 comments:

  1. We both have our own accounts we spend from and then we have a joint one where bills and vacation stuff is paid from. So similar to you except the bills are paid out of the joint account and we both transfer money into it instead of bills being paid out of my account. Everyone has to do what works for them! Personally I will never be without a bank account of my own.

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  2. We have a joint account, it never actually crossed our minds to have our own. It just works that way for us even though i'm more of a saver and my husbands more of a spender. Each to their own!

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    1. exactly! I'm happily surprised at the # of people who don't see it as a big deal either way, I have run into many people in real life who think it's a big deal!

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  3. We actually have both. We have one pot where our money goes, then we have separate accounts where our blow money goes -that way I can soend whatever I want on a pair of shoes and he can buy fishing gear and no one gets mad over whi soent what!

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  4. I think this is great. My parents have separate accounts and a joint one so kinda a mesh of both and I always thought that was the way I would do things as well. Its not that strange to me at all :)

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  5. We are the same as the other commenters- we have a main join account for our bills and savings and almost everything. And then we each have separate accounts that we put a tiny bit of money in each paycheck for little incidentals and presents mostly. One year in, but so far it's worked!

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  6. My feelings are whatever works best for you and your relationship is exactly what you should do. This sounds like it works very, very well.

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  7. I'm engaged now so this is something I constantly think/worry about. It's refreshing to read about it from different perspectives!

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  8. I think every couple needs to do what works best for them. Because you're absolutely right. If you take the reason for the fight away, then that whole fighting about money thing doesn't need to happen.

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  9. Steve and I have a join account, but it was really more out of convenience. He had an account though a credit union when he worked for the department of defense, but never closed the account when he left that job. The only Navy Credit Union was over 30 miles from us, and it was a pain in the ass any time he needed to actually go to the bank. So he finally just put his name on mine and closed his. I do have one credit card that I use to buy him gifts, etc... Whatever works best for you and Dave is what you need to do!

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  10. We literally do the exact same thing. We've always had separate accounts and it works for us. We split any big bills and then one of us pays the cell and light bill and the other the tv bill. I honestly could care less what he spends his money on as long as he pays his share of the bills. It's his money and he works hard for it and the same goes for me.
    One of the guys he works with has a joint account and his wife is always monitoring it. So much so that she calls to ask him why she spend $10 at the store! I mean, really? I just can't imagine caring that much about what my s.o is spending their $ on, let alone $10 measly dollars.

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  11. My husband and I have separate accounts. We are getting ready to buy a house so we may get a joint account, but I don't think it's really necessary. He handles the rent (soon to be mortgage) insurance and his cell phone and I handle all of the utilities, my cell, car payment, and both of our student loans. I buy the stuff we need from target and he gets the groceries. Its been working great for us.

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    1. If it ain't broke don't fix it, right? I think that's great that this way works for you too!

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