JOINT BANK ACCOUNT WITH MY FUTURE WIFE. TO BE OR NOT TO BE?

So I eventually find my soulmate (38 years aged here) as well as the couple of questions arise. I have regularly been the single to run divided from the suspicion of matrimony so there is something I never gave as well most though. How does the single hoop the “money” part. I mean, I can suppose corner bank accounts have been good. Any pros/cons/tips upon this? It is the frightful thought, though afterwards again, I DO utterly certitude this girl. How shortly should it be done?

Tagged as: account, bank, Future, Joint, Wife

{ 15 comments… read them below or add one }

Kirk September 10, 2010 at 2:24 pm: I would wait and see if she is trust worthy. if she brought it up and you are the primary bread winner then i would think twice. um…me and my husband have separate accounts but we both give as needed if needed. We were going to have a joint account. we dont not because we dont trust each other but really what is the point. you see? you are already going to be married. your accounts dont need to be also. but if you feel like you need to. it is always good to have a joint and separate accounts. hope this was helpful. if you wanna talk about it more my screen name is kirk51288
Elizabeth September 10, 2010 at 2:25 pm: Decide a few things first, both your goals, your aspirations, how does she handle money, have you both got similar ideas with money. It has to be an open discussion, lot’s of couples are afraid of this idea, but money is often the root of a breakup later. It might be decided that one of you is better at handling money than the other for example.

So after this discussion it might give you more insight of how to handle your bank accounts.
nativecalinda September 10, 2010 at 2:40 pm: I was married before and I think there can be less problems if you have your own individual account. Especially if you’re responsible for seeing that the bills are paid. This way you mainly only have to watch one account. Plus, as the old saying goes you never know a person until you live with them.
Father Sun September 10, 2010 at 3:34 pm: You can do a joint bank account when you both feel emotionally ready. It’s also possible to set up accounts where the other person has power of attorney only if you are incapacitated. You could go one more step distant and make bank accounts where each of you is listed as the beneficiary. You can also have a joint account for bill-related items and keep separate accounts for your personal money.

Don’t feel you have to have a joint account. What you and your partner do should be a solution you’ve discussed that you both have some comfort in. If you are at opposite ends of the pole, try to compromise, but remember compromises don’t have to be 50-50 for a relationship to work.
hello September 10, 2010 at 4:11 pm: I have been married for 10yrs and my wife and I never had a joint bank account.
Lina September 10, 2010 at 4:42 pm: Never, please do not. Trust her is ok, but Money matters is different issue. Don’t you read newpaper or watch movies about how money ruined friendship, marriage and family? Husband killed wife for Insurance money, v.v. and etc etc?..But the choice is yours…..You still want to do it? Wait until your 3rd child is born…then..you may think about this matter again….should you or should not you, ok?
Happy Holidays…!!
GH September 10, 2010 at 5:25 pm: 3 bank accounts. 2 personal, one joint (for household expenses). bills are handled according to percentage of income. you make 70% of the money, you pay 70% of the total of all bills. it’s the fairest way. whatever is leftover belongs to the respective people…
Ford_Craney September 10, 2010 at 5:38 pm: My wife and I have separate bank accounts because I tend to keep better track of what is in mine, she forgets about things, which I have been guilty of a few times, but it is easier to keep track of.
Next until you know how well she handles money,I would wait until after you are married and have been for a while.
Thatshim September 10, 2010 at 6:16 pm: Most couples sit down and talk about it and set up the rules if they decide to do.
LuCkY mE September 10, 2010 at 7:07 pm: financial issue usually comes when you both are married.you and her sit together and discuss resposibilities of you two,meaning who has to pay this and buy that..something like that.then only at that time you can arise the topic of joint bank accounts.me and husband make this account for our future as we have daughter now.and still each one of us has account.good or bad depends on you two to handle.
dr.pepper106 September 10, 2010 at 8:04 pm: Fighting over money is a real downer for marriages. So do not ever open a joint account, Keep your incomes separate and in individual accounts. Take the household bills and divide them as equally as you can and let the one with the higher income take the odd higher amount. It is a plus to be able to spend your hard earnings yourself.
Joint accounts are subject ot overdrafts as you will not know what has been spent.
Truth Sets You Free September 10, 2010 at 8:50 pm: Couples today have both joint and separate accounts..depends on the couple and what they decide to do..having a good trust base in a relationship only enforces a good relationship
EmF'er September 10, 2010 at 9:35 pm: If the thought of having a joint bank account causes you such unease then how about this:

You each keep your respective bank accounts, but open a new account together. You can each deposit money into the account for bills. That way, you know neither one of you is having to pay for everything, that the expenses are shared (as they should be), but you still have peace of mind, knowing you still have your spending money or savings in another account.

Now, I’m sure someone is going to say, “But in a marriage, you’re supposed to share everything! Keeping separate accounts is saying that you don’t trust each other!!” To this, I say you are taking precautions to keep your marriage happy. If you only had a joint account, I’m sure I can safely bet that you’d slowly go crazy, checking the account all the time, verifying and questioning purchases, etc. That will cause soooo much stress and will eventually build a wall between the two of you!
Wilma F September 10, 2010 at 10:22 pm: this is something the two of you need to work out between yourselves. there is no one right solution for everyone. and as you stay married and your life situations change, you may change how you want to handle the money.

in my marriage (first for me, second for him) we have a joint account that covers our joint household expenses (mortgage, cars, medical, utilities, stuff for the house, vacations, etc) and we each have our own account where we use the money for whatever it is that we want. We each contribute half of our paychecks to the joint account and the other half to our personal accounts.

I pay for my retirement and personal investing out of my personal account and he pays for his child support and retirement out of his personal account. The money in our personal accounts can be spent however we want without discussing it with the other person. The joint account we have a limit of $300. Anything over $300 and we have to discuss whether or not to spend the money.

when his child support obligation is finished we have plans to re-evaluate how we handle our funds.

My advice to you is to begin discussing finances now but do not merge any finances until after you are married. and the finance discussion will not be a one time thing. It will be something that you discuss on a regular basis and change how you handle things as your life situation changes.

Congrats and good luck.
Rebecca September 10, 2010 at 11:04 pm: I would have one joint account for bills and stuff, and then her and you your own.

JOINT BANK ACCOUNT WITH MY FUTURE WIFE. TO BE OR NOT TO BE?

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