![]() If you don't have a joint bank account, you might argue over who gets to spend the money and how much each person should be able to spend. Plus, if you both have access to the account, there are no arguments over how much each person spent or earned. You don't have to worry about who's paying the bill you just split the check or use your debit card. Some people like joint accounts because they make it easier to pay bills. This way, there's less confusion about who spends what. When one spouse wants to use the money in the shared bank account, they call or write a request. This helps avoid confusion about expenses and can prevent problems with moneyĪnother option is to have a joint account, but you each have your own ATM card. One solution is to ask your bank for separate checking or savings accounts under both names then use only one debit card or checkbook. If something goes wrong with the account, like one of you racks up debt, the other spouse might be held responsible. This way, each spouse knows what the other expects of them.įor example, when you open a bank account together both spouses should agree on how much money they're putting in and which bills the account will pay. Whether you have separate or combined accounts, it's important to put your agreement in writing. ![]() Poll result: Do you think it's okay to have separate bank accounts when you're married?Įvery survey participant seems to prefer having separate finances when they get married! Many people think that joint accounts are more convenient because they make paying bills easier, but some argue that separate accounts are better for determining individual financial habits. The idea of separate debit/credit cards has even become pretty common among married couples. However, some couples like having separate accounts for personal expenses. Separate Accounts-Each spouse has their own separate account, which is used only for personal expenses.Īlthough it is legal to have separate bank accounts while married in the United States, some experts recommend joint accounts. Single Accounts - One spouse has an individual account.Ĭombined Accounts- Both spouses share a single account, which is used for both individual and shared expenses. There are three types of accounts that married people can have in America: Also, separate accounts have no effect on whether or not you're married in the eyes of the law.ĭo you think it's okay to have separate bank accounts when you're married? For example, one spouse might like saving money, but the other spouse might prefer spending it. However, many married couples need more than one bank account because there may be different spending habits or financial goals. ![]() Some people argue that the only type of account you should have is a single account, because it avoids conflicts about money. 16 TYPES Do you think it's okay to have separate bank accounts when you're married?
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