JOINT BANK ACCOUNTS????????????????

Original post by Borricuamorena0905

Dec 16, 2004 03:04 PM

Do u plan on having a joint bank account once you get married....

My FH is a REAL Stickler for money and I believe we would be divorced faster then a speeding bullet if he tries to control my funds...

I asked another married lady and she said she has her own, and she also has a joint one for the house and future ventures that they are saving for... I think that is what we will do...

akaMrsT Posted: Dec 16, 2004 04:53 PM

Re: JOINT BANK ACCOUNTS????????????????

We will have a joint bank account for household spending (Con Ed, cell phone family plan, coop maintenance) and then keep our separate accounts.

Bunnymonkey Posted: Dec 16, 2004 04:59 PM

Re: JOINT BANK ACCOUNTS????????????????

we have a joint for rent and bills and our own checking and savings.
Although, to be honest, we both make such little $$ we just share everything and are pretty even on our 'splurges'

brooklynbridezilla Posted: Dec 16, 2004 05:30 PM

Re: JOINT BANK ACCOUNTS????????????????

We got a joint account right after we moved in together. But we have similar financial goals and spending habits, and had a long discussion about how we wanted it to work.

If either of us had children, I am sure we would have made different decisions.

Russo'sbride Posted: Dec 16, 2004 05:34 PM

Re: JOINT BANK ACCOUNTS????????????????

Not me!!! I've already learned my lesson once w/ that.

jsb1ot Posted: Dec 16, 2004 05:35 PM

Re: JOINT BANK ACCOUNTS????????????????

We will open a joint bank accounts once we moved in together (by late may or early june). We agreed to put 80% of our pay to our joint (to cover expenses and savings too), then keep 20% for ourselves. Therefore, my FH and I will also have each other own bank accounts.

February05 Posted: Dec 16, 2004 06:13 PM

Re: JOINT BANK ACCOUNTS????????????????

we have a joint, and we each have our own. the joint was set up for wedding expenses, and then we both pay our own bills out of our own accounts. we have pretty similar spending habits (and are pretty conservative when it comes to major 'splurges'), but no matter what, i will always have my own on the side. its one part of independance that i dont really believe in giving up

Lori0517 Posted: Dec 16, 2004 06:59 PM

Re: JOINT BANK ACCOUNTS????????????????

we have a wedding joint acount but that is it. My money is mine and his is his. when 'we' have to buy something then we split it. I know that is bad but I like it this way.

akaMrsT Posted: Dec 16, 2004 09:21 PM

Re: JOINT BANK ACCOUNTS????????????????

Posted by Borricuamorena0905

I guess it's easier for you guys because you don't have kids from previous relationships.. Totally understandable...
THe money you guys have is for you & him.. Which is a beautiful thing..

We plan to open a joint household account and maintain separate checking and savings accounts in addition to the joint account.

FI has a son and I have no kids but I have no problem contributing to help raise his son. FI already set up a college fund for his son (he's 9) and FI is pretty responsible with money and credit after a hard lesson with his ex.

I still plan to keep my stash though and he knows all about it so it will never come as a surprise to him if I show up with an expensive handbag every now and then. LOL

I have 3 married friends and they all handle money differently. None of them have kids though.

One couple (together for 10 years & married since 2001) pays $1,000 each into the house hold account and they have separate accounts to pay for personal bills (student loans and her nieces that she spoils. LOL)

Another couple (together for 9 years and married since 2002) puts a percentage into a joint account and they have a joint credit card for the household. There are three 'people' in the marriage to support...the husband, wife & the house. The house gets paid first, then savings and then whatever is left is the allowance to blow on lunch at work and other random things.

The third couple just got married in May 2004 and are still working out the kinks - but they have a joint account.

May05Bride Posted: Dec 16, 2004 09:37 PM

Re: JOINT BANK ACCOUNTS????????????????

yes definately!

Being a family, we should spend money as a family!

hbradio Posted: Dec 16, 2004 09:42 PM

Re: JOINT BANK ACCOUNTS????????????????

Posted by Donna&Joe708

Right now, we have a joint savings account for our wedding savings and then we also both have our own joint checking and savings accounts. We'll probably combine everything once we're married.

This is exactly what we did. Anything extra we get like a gift or something unexpected goes right into the wedding savings!!!

Borricuamorena0905 Posted: Dec 17, 2004 09:40 AM

Re: JOINT BANK ACCOUNTS????????????????

I think if children are involved from previous relationships, it's good to have separate accounts because I want my kids to have the best education and I don't want anyone to tell me that they don't believe in sending kids to private school, when they have free schools. SO everytime I dip in the account to pay my sons tuition, I don't want to hear shyt!

I do agree you should have one for the house and have separate ones too!

CubanBride Posted: Dec 17, 2004 09:43 AM

Re: JOINT BANK ACCOUNTS????????????????

We are going to have a joint account for our vacations. We like to travel and other than that, we don't have joint bills.

But we will also have separate accounts.

lillian771 Posted: Dec 17, 2004 09:46 AM

Re: JOINT BANK ACCOUNTS????????????????

We currently have a joint savings account, and will have a joint checking account once we are married. I don't believe we'll keep seperate accounts.

eogara Posted: Dec 17, 2004 09:57 AM

Re: JOINT BANK ACCOUNTS????????????????

Right now we have a joint checking account for the wedding stuff and any gifts that might come in. We're still maintaining all our own money at this point but once we're married everything will move into a joint account. I just can't imagine being married and still saying 'ok, the bill is $80 - I need your $40'. That's just really weird to me.

buckles Posted: Dec 17, 2004 09:57 AM

Re: JOINT BANK ACCOUNTS????????????????

We are going to join our bank accounts but I may keep a little something stashed away. I think it would be best for something like his b-day gifts and such. My problem is that I am the spender and he isn't. He is the type that only spends money on bills and dinners out (Still has clothing from the 80's that used to be red-now pink and 'still wearable') and me well let's just say I enjoy my clothes, shoes, crafts, and lunch with friends.

Borricuamorena0905, maybe you could come to some sort of an equitable division of your paychecks so that you have one account for household and the general 'married things' that you both put into and separate ones for each your kids if that will make everyone in the house more at ease? I know most employers have direct depostit and they can divide them for you.

azoodie Posted: Dec 17, 2004 10:26 AM

Re: JOINT BANK ACCOUNTS????????????????

we've had a joint bank account for over a year now. never had any problems, but it also depends on your given situation and people's personalities.

i'm nutty about the bank account and ray is not. if you have two nutty people, or two laid back people i think that's when the problem happens. because they nutty people will bump heads and the laid back ones will never save....

good luck!

CJStein Posted: Dec 17, 2004 11:18 AM

Re: JOINT BANK ACCOUNTS????????????????

Posted by Donna&Joe708

Right now, we have a joint savings account for our wedding savings and then we also both have our own joint checking and savings accounts. We'll probably combine everything once we're married.

Ditto!

David'sbride Posted: Dec 17, 2004 11:23 AM

Re: JOINT BANK ACCOUNTS????????????????

Yes, all assets will be combined not just joint property.

Remember, in the eyes of the law once you co-mingle ownership then you are both entitled to 50% of the assets.

Oh, for those of you who have big disagreements over money. Any marriage counselor will tell you this is the number one reason why people split up. You must be on the same page with this issue BEFORE you get married. No one likes to talk about it but it is vital. How we handle money is a reflection of our beliefs and childhood. For example, two people I know who were abused at a young age are horribly in debt, both have declared bankruptcy. Why? There issues are being manifested in overspending... they are trying to fill the whole created by the abuse.

It's important to not only talk about how you will handle money but how you view money.

Marisa M Posted: Dec 17, 2004 01:21 PM

Re: JOINT BANK ACCOUNTS????????????????

Absolutely. - We opened a joint account when we got engaged to save for the wedding. - But once we're married, i'll be transferring all of my personal accounts to combine with his.
IMO you can be WE and US when it's convenient .....it's a marraige, it's a compormise on how WE will spend OUR money.

But I don't have an ex husband or children to take care of. - I can understand keeping things separate if your FH does not agree w/ the way you want to raise your own childern. -

morales066 Posted: Dec 17, 2004 01:35 PM

Re: JOINT BANK ACCOUNTS????????????????

We have a joint account for all the wedding and household expenses and separate accounts for our personal spending. It's soo much easier because I don't want to know what he's spending his money on. My FH is a sneaker freak and owns about 40 pair especially Jordans. That's where all his money goes but not lately. Could this be a sign of maturity?