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Do you have joint bank accounts and have equal access to funds?

Discussion in 'Married Life' started by redmaverick, Sep 3, 2011.

  1. redmaverick

    redmaverick Senior IL'ite

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    Or do you have separate bank accounts? Which is better?


    Just curious!
     
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  2. cuties

    cuties Bronze IL'ite

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    Me and my H have almost all joint accounts except 401k etc. but in that the other is listed as beneficiary. He has one account on which I am not and he is lazy to add me as the bank is too far. I'm ok with that. I trust him.
     
  3. chocolate

    chocolate Platinum IL'ite

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    Me and my husband have a few accounts as joint and individual accounts. We both have access to individual accounts of each other. The larger savings acccount is my individual account becoz I am firm minded about it and dont go about making excuses with regards to it. He does.So its only an individual account.Small savings is joint account for day to day sudden expenses.We both are happy with it and want to continue with the same.
     
  4. lifeisajourney

    lifeisajourney Silver IL'ite

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    we both had the joint account all the savings and the mortgage account are one and the same. we both had teh saving cards and credit cards linked to teh same account. we thought of having transparency in the financial matters just for the amtter of reducing half of the arguements and fights.

    i think thats way ttooo cool
     
  5. cj1980

    cj1980 Gold IL'ite

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    Separate....I guess it just never occurred to us to have a joint bank account!

    I am well aware of most financial transactions that my DH makes and he has given me the password to his online account. But I don't 'check up' on him. I guess we discuss any major payments before we decide to go ahead...sometimes if I feel I need clarity on our financial position I ask my DH and he shows me his bank account balance, etc...other than that life is just the same as before our marriage...he has his salary account and I have my own bank account! :)
     
  6. redmaverick

    redmaverick Senior IL'ite

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    thanks for the replies..

    so will there be any arguments or fights if there is difference of opinion about spending. You might be interested in buying an expensive watch or saree or gadget but your husband might think it a waste of money. Likewise, if your husband spends money will you ask him why he needs to spend that much money etc ?

    Also if your husband wants to start his own company/business and uses funds from his OWN money, will you be supportive or get angry. (As long as it is a reasonable amount?) or Do you think he has to do all these risky experiments before marriage and not after?
     
  7. jhalli27

    jhalli27 Bronze IL'ite

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    my dh and i have separate accounts. we courted each other for 4 years and now martried for 3. totally 7 years. but never once did any of us think or ask for a joint account. i guess we are happy with what we have. infact my dh has only 1 savings acc. and i have 3-4. he doesnt use online banking and has never asked me for my passwords. not that i would mind giving him. but we never peeked into other's account or argued about each spending money.


    luckily or unluckily, both of us as thrifty. sometimes i tell him - we booth are very 'kanjoos'... :). but we are ok with it. we hardly have fights over spending money as none of us buys lavish stuff. usually we gift to each other - so no one minds :). if i wabnt something which is slightly expensive - i hint him to get me as my birthday/anniversary gift. and he obliges :). but never too costly. we dont feel like buying anything very expensive.

    but i feel im the more spender... meaning i spend slightly more than him. i wont think twice to buy basic necessities, on personal grooming parlour, massage, etc.. while my dh doesnt spend on grroming too much. however for my dh - fitness is a big deal. so instead he will spend his money on gym, gym gear, protien powders, etc...

    and other than that for entertainment - restaurants, movies, clothes, etc... we pay turn by turn. though we stay with in-laws - i usually buy our toileteries. as i obv cannot ask mil for the money. she doesnt like it. moreover she buys once once a month - and feels lot of things are waste. so for our personal toileteries like soap, shampoo, facewashes, brushes, etc - i buy them. as i prefer and buy by chioce without anyone keeping an eye on how much and what we buy...


    why would i mind? infact i have even contributed or given him money. normally loan - and he returns back whenever possible. no issues at all..

    we only rarely fight as i feel he is a bit stingy in spending money and hence when he creates fuss to take me out - i fight :)
     
  8. cj1980

    cj1980 Gold IL'ite

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    No, we don't fight over the things we buy. We both have a weakness for shopping - DH can splurge in clothes and I love gadgets...but we have learned to keep an eye out for each other in case we go overboard. I tell my DH how much I earn each month through my freelance work (he never asks though!) and he lets me know of any bonus, hike, etc so that we both have a fair idea of how much comes in, how much goes out, and how much we can spare for retail therapy :)....if there is a big expense in the offing (say buying a refrigerator or tv) we plan for it and buy only after both of us are in agreement over the purchase and are happy.

    Coming to business, I don't think I would object to my DH following his dreams, provided we both discuss the risks and benefits and are in agreement. In fact, I ventured into an online business about a year ago (cost me about $500) and my DH funded it without even asking me what it was and if it was feasible (am sure I would have questioned him a lot had it been the other way around!)...it bombed big time, but I gave back the money to him through my freelance earnings (again, he never asked!...i guess i am like that only ;-) )...so it really boils down to how much we trust each other and how financially responsible we are.

    P.S: We sometimes make a 'wish list' of things we'd love to have if we ever had the money to buy them...and if we have the amount to spare we gift each other!

    Carol
     
  9. armummy

    armummy Platinum IL'ite

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    We have seperate accounts. Investments are made sometimes jointly but our accounts are seperate and I think it helps in having control on my own earnings.I wouldhate if I ever have to explain to my husband why I spent something...
     
  10. karthikk

    karthikk New IL'ite

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    This is what I have observed among my friends' families:

    If husband is the only earning member: Joint account (Our money!)
    Both husband and wife earn: Separate account (My money, you know)

    Either way, the wife wins. There are some exceptions. FYI, it is joint account in our house ;-)

    Of course there are cases where the wife doesn't let her husband spend from joint account and husband not allowing wife to spend from her account.
     

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