Why Less Married Couples Have Joint Bank Accounts
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.
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?