Why Less Married Couples Have Joint Bank Accounts
February 8, 2011 by LadyElena
Published in Relationships
Do you think it’s still a good idea for couples to have Joint Bank Accounts?
These days economies all round the world are facing hard times. Moreover, there is less trust in relationships. So, finance can be a touchy issue between couples. Decades ago, it was the norm for a married couple to have a Joint Bank Account, but now that habit is decreasing.
Why?
a) Lack of Trust – maybe one or both of them have been taken for granted before in a previous relationship with money.
b) Spending Frivolously – One person does all the hard work to earn, while the other spends it anyhow.
c) Marriage Breakdown – Once a marriage breaks down, some partners are so mean, they could empty the bank account and there would be nothing the other person can do, as they both have legal rights to it. The other person could be left penniless.
d) Financial Independence – people want there own financial independence. They want to be in total control of their money.
I personally have issues with Trust and would not mind having a Joint Bank Account with a spouse for bills and taking care of home, but I have to have my own separate Account. I don’t want any heart attacks. I’ve been through too much in Life.
Do you have any thoughts on this?
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February 8th, 2011 at 4:54 pm
I would not want to have all my money in a joint account, because men tend to want something and they will decide on their own sometimes that it would be okay, because its only several hundred dollars!
February 8th, 2011 at 5:27 pm
Interesting topic. I guess I would always like to have my own seperate bank account even if I also had a joint account with my partner. The thought of someone else spending all the money I work my ass of for on stupid things would piss me off greatly lol
February 8th, 2011 at 7:36 pm
Money in marriage is one of the most important deal breakers. After twenty-five years of marriage – it is the best way to go if there is Trust. We have had it both ways. The main thing in a relationship is to have an Understanding of what’s what!
Thanks Elena, good topic for discussion.
February 8th, 2011 at 9:47 pm
Good Article Lady E. However I have a different bank account to my partner, it works for us
February 8th, 2011 at 11:43 pm
As long as the hearts are united, it is no problem to have separate accounts.
February 9th, 2011 at 1:00 am
Ya its true, there are lot of qurrals due to money, very nice share.
February 9th, 2011 at 1:25 am
Interesting article. thanks for sharing this information, I know why I have a separate account. Did not know others practiced this as well.
February 9th, 2011 at 5:14 am
Interesting post. nicely written.
February 9th, 2011 at 3:06 pm
Myself and hubby don’t use a joint account. However I do have control over all his banking! LOL.. I am the good one with money he is not.
February 9th, 2011 at 3:08 pm
I agree fully. The future looks bright but be uncertain at the same time.
February 9th, 2011 at 4:38 pm
Interesting topic Lady E!
February 9th, 2011 at 5:28 pm
Thanks so much for sharing your views everyone.
@lilyrose lol
@wizard brown. Working your….. off. lol.
@Treasures – Hats off to you – 25 years of marriage.
February 10th, 2011 at 8:39 am
Hi Lady_E,
I believe each party should be trusted by their spouse enough to control their own finances without interference. Monetary issues should not be allowed to hurt the relationship between couples. Both couples should be ready to settle down to discussions geared towards solving issues regarding heavier financial matters. Above all, joint bank accounts should be discouraged to encourage freedom. Adults are supposed to more independent in all aspects. Good topic my Queen.
February 10th, 2011 at 8:59 am
Many married couples I know also keeping separate accounts, including property. I think it is a smart way to go!