Couples with joint checking accounts are happier
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Couples with joint checking accounts are happier
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Re: Couples with joint checking accounts are happier
#2Wife and I have been together for 8+ years and finances is still the #1 area we struggle with (more than sex, more than children), an area we are actively working on improving. When we first had our hiccups, someone suggested we divide our finances as such:
- A shared account (shared expenses) - An account (for my eyes only; buy whatever - no questions asked) - An account (for her eyes only; buy whatever - no questions asked)
Far from perfect. We're now revisiting our setup and perhaps this article might nudge us in a different direction.
Re: Couples with joint checking accounts are happier
#3How about each agreeing to contribute to a joint checking account per month. Like $5K each per month to the joint account.
For those of us who own our own business or are self-employed, my business account is mine, and my partner's business account is hers.
Re: Couples with joint checking accounts are happier
#4All of my personal experience with this points to the opposite. Both my parents kept separate bank accounts and had one joint one for bills. I decided to follow the articles advice and simplify to just one and it was the worst divorce my attorney had ever seen. YMMV.
Also, if you entangle your personal finances, I wouldn’t say “staying together” is what your doing, it’s more you are now trapped into supporting the other person (like I was) and they took advantage.
Re: Couples with joint checking accounts are happier
#5I don't understand couples that keep separate finances. When you get married its "we" and not "me". It seems like keeping one foot out the door. Note: I've been married for 23 years with everything tracked in joint accounts the entire time but we do have a small "fun money" monthly budget item for each of us that is a black box.
Re: Couples with joint checking accounts are happier
#6Maybe I’m in a bubble, and this doesn’t take away from the value of researching the question, but whom does this surprise?
The question of the purpose, value, and content of marriage is certainly in flux at the moment, but to me, a relatively cosmopolitan (currently) single young man, there is no topic the traditionally included are more correct about than marriage.
Re: Couples with joint checking accounts are happier
#7All of my personal experience with this points to the opposite. Both my parents kept separate bank accounts and had one joint one for bills. I decided to follow the articles advice and simplify to just one and it was the worst divorce my attorney had ever seen. YMMV. Also, if you entangle your personal finances, I wouldn’t say “staying together” is what your doing, it’s more you are now trapped into supporting the ot…
Was the joint account the cause or catalyst of divorce in your case?
Re: Couples with joint checking accounts are happier
#8I don't understand couples that keep separate finances. When you get married its "we" and not "me". It seems like keeping one foot out the door. Note: I've been married for 23 years with everything tracked in joint accounts the entire time but we do have a small "fun money" monthly budget item for each of us that is a black box.
21 for us, same joint accounts. It probably helps that we both have financial niches we like to pay attention to. I’m the retirement and investments person while she’s the paychecks and credit card person (we don’t have a budget per se, but CC is a nice way for us to get a spending report without much effort).
Re: Couples with joint checking accounts are happier
#9How about each agreeing to contribute to a joint checking account per month. Like $5K each per month to the joint account. For those of us who own our own business or are self-employed, my business account is mine, and my partner's business account is hers.
This might seem antagonist, I don’t mean it to be so, but does your proposal not assume both parties make well over 150k a year in salary to contribute such a large sum on a monthly basis with anything to spare?
Re: Couples with joint checking accounts are happier
#10Yeah, no, sorry. Been burned on that one. Ex couldn’t control herself and spent every last penny that came in. I have more money at the end of the day even with alimony and child support.