Reply to Joint Checking/Savings Account for Couple?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We use joint accounts.

Anecdotal, my impression is that 80% of my married friends use joint accounts and 20% keep their money separate.

But I am not sure I know any couples that put their money into a pooled joint account and then transfer it out to separate, individual spending accounts (except for one case where the wife is doing it in secret).

Is there a reason you don't just want to operate out of a fully joint account? It sounds like it would make your life easier.[/quote]

We do that - one main joint account with separate personal accounts that we add to each month.  The main account is for bills, groceries, etc.  The separate accounts are for much smaller frivolous stuff that we aren't going to coordinate with each other on.[/quote]

Us too, and we actually refer to our personal accounts as our "allowances." The personal accounts have always been equal deposits twice a month for each of us, although at various times one or the other of us has made more in salary (and therefore contributes more to the joint accounts). Neither of us has to keep track of the other person's lunches, haircuts, Amazon purchases, etc etc. All household and kid expenses come out of the joint, and if for some reason I wanted or needed to get something and my personal account was low, I would tell him I needed a hundred bucks out of the joint account and it wouldn't be a big deal. And vice versa. The trick is to agree on an allowance you both can live with and keep the bulk of the household money in the joint accounts because, as others have pointed out, at the end of the day a marriage is by definition a joint financial arrangement.  [/quote]

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