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re: Do you have a separate checking account from the spouse?
Posted on 1/18/22 at 1:34 pm to jchamil
Posted on 1/18/22 at 1:34 pm to jchamil
quote:
You need your spouse to have a high checking account balance? LOL
Huh? High? No. Higher? Well yeah, obviously.
Regardless of what my balance is, adding another person to the account will always make it higher. Seems obvious but clearly not.
It seems like you are passionate about ensuring that you and your spouse cannot freely access your combined assets. Not for me, but if that somehow makes sense to you, more power to you dude
This post was edited on 1/18/22 at 1:42 pm
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Posted on 1/18/22 at 2:45 pm to DaBeerz
quote:
Exactly, do the joint only people read all their spouses texts, social media inbox? Do they have to know there phone passcode too? I don’t know my wife’s passcode on her phone and don’t care. How does having separate accounts not equal trust or a loving marriage?
Not the same thing. When you’re married there’s not "his money" and "her money", they are married so there’s only "their money". A phone call or a text obviously isn’t the same thing, although if they wanted the passcode to the phone I don’t see any reason to hide it.
Posted on 1/18/22 at 2:46 pm to DavidTheGnome
I'm a teacher.....married a doctor. 1 account.
Posted on 1/18/22 at 2:53 pm to Saskwatch
quote:To each his own, if that works for folks that is great.
Yes. I have a seperate checking account which is for personal use.
We share a joint checking account for bills, grocery, household expense, car insurance, children's various expenses, etc...
She also has a seperate checking account for her personal expenses (shopping, dinners w/ friends, etc...)
We have a joint savings account.
I can spend out of my seperate account freely. She can spend out of her seperate account freely. Alleviates any possible tension of spending on our frivolous items.
It just seems like too much hassle for me. We have 1 account, we pay the bills, my wife buys whatever she wants, I buy whatever I want.
I guess we're both aware enough of our own personal spending limits, so it never feels like a contest of who is spending more nor or we ever worried that either is spending more than the other person, so it's just not necessary for us.
She spends more on a weekly/monthly basis just randomly shopping and shite like that. I legit never do any of that but every couple of months or few months or whatever I spend more on bigger ticket items. Neither of us having or complained or had issues with the spending of the other person, as overall, we probably spend less frivolously than average for our salaries.
Posted on 1/18/22 at 2:55 pm to tigahbruh
quote:I don't think either way does this but I think I could argue the opposite. You have to have your own account and your spouse another because you don't trust your spouse will not spend wisely and ensure he/she is going overboard. I'm not saying that's the reason people do it, just pointing out that I could argue that just as well.
Agreed. Seems to me that insisting on joint accounts shows a lack of trust.
Posted on 1/18/22 at 2:56 pm to DaBeerz
quote:For my wife and I, it has nothing to do with that.
do the joint only people read all their spouses texts, social media inbox? Do they have to know there phone passcode too? I don’t know my wife’s passcode on her phone and don’t care. How does having separate accounts not equal trust or a loving marriage?
My wife has no idea how to even access the banking account to see what I spent. I handle all the finances, but I also never have once made it a point to go and scour the transactions of our bank account to see what she's spending money on.
Posted on 1/18/22 at 3:10 pm to lsu xman
Two checking accounts, both joint.
Posted on 1/18/22 at 3:41 pm to LSUfan4444
quote:I think a few others mentioned the same.
Two checking accounts, both joint.
I haven't read the entire thread, but what's the reasoning here? I'm sure it's something obvious I'm missing, but I couldn't figure it out.
Posted on 1/18/22 at 4:13 pm to DavidTheGnome
quote:
When married it’s all both of yours, both assets and liabilities. It especially makes no sense in a community property state but I disagree with the concept no matter where they are.
Same but to each his own I guess.
My wife quit working outside the house when she was 8 months pregnant for our first. He turned 23 in November. That is a decision I never regretted. Many people can't do that with it being a financial hardship, I am blessed that it never was for us. Now when I have time off, no need to coordinate, we can do whatever we want. Married 30 years next month.
Posted on 1/18/22 at 4:19 pm to theantiquetiger
We have two joint accounts and two individual accounts, but we both know each others passwords and bills get paid out of all of them.
Posted on 1/18/22 at 4:21 pm to Wermanium
quote:I guess I still don't understand the multiple joint accounts, but I really don't understand the need for 4 separate accounts? What's the benefit?
We have two joint accounts and two individual accounts
Posted on 1/18/22 at 5:13 pm to lsu xman
Nope. I earn the money. She keeps it, pays all the bills, and she puts cash in my wallet when it’s empty.
Posted on 1/18/22 at 5:20 pm to lsu xman
We have a joint account in which about 95% of income goes into for distribution to various other accounts. I have a separate one that gets a few hundred a check put into it. Mostly for auto drafts that have been around a while and a separate savings account. But also for my vices and bullshite.
Posted on 1/18/22 at 5:37 pm to shel311
quote:
quote:
We have two joint accounts and two individual accounts
I guess I still don't understand the multiple joint accounts, but I really don't understand the need for 4 separate accounts? What's the benefit?
We have 2 joint checking accounts. The reason we do this and probably everyone else is one for bills only and one for other crap. Presumably paying just bills, that account/cards should be safe from getting hacked or lost. In fact it would be even safer if I didn't carry that card in my wallet. The other account, we only leave so much money in it at any given time, in case a card gets lost/stolen/hacked, which has happened.
As far as having two more separate accounts, frick all that. I can't explain the reason for that.
Posted on 1/18/22 at 5:40 pm to shel311
quote:
haven't read the entire thread, but what's the reasoning here? I'm sure it's something obvious I'm missing, but I couldn't figure it out.
The idea of separating our finances never even occurred to us. We always considered our income, expenses and debt as joint so there wasn’t ever any reason to consider splitting anything.
Posted on 1/18/22 at 5:42 pm to LSUfan4444
quote:
The reason we do this and probably everyone else is one for bills only and one for other crap.
This is exactly what we do. My check gets deposited into one account and hers into another. After each pay period I transfer money from one account to another leaving us with our budgeted amount for discretionary spending and the rest goes into bills and savings for the month. Sure, from time to time one of us wants to splurge so we talk about it and make sure we’ve got enough to cover it for the month and just figure it out that way.
The only thing I think we may need separate of is Amazon accounts. It’s making Christmas shopping for both of us pretty hard on Amazon when we’re both buying presents for each other on the same account.
This post was edited on 1/18/22 at 5:43 pm
Posted on 1/18/22 at 5:47 pm to Retrograde
quote:
We have checking accounts for my business, her business, and a joint account. We both make good money but my wife can spend money in outrageous ways so to stop my bitching we set it up this way and it’s been working great.
I hope you mean business as in your personal stuff. If you or her are combining business and personal on the same card woof.
Posted on 1/18/22 at 5:59 pm to lsu xman
Joint checking but we each have separate slush funds for gifts, shite she or I want to buy on our own (More Louboutins for her, weed for me, that kind of thing.), etc. Big believer in doing things jointly while still having a separate pile for things that come up.
Posted on 1/18/22 at 6:22 pm to lsu xman
I have my own separate checking account like a real man! And she has hers!
And she puts whatever money that goes into my account into it and knows exactly what goes out of it every month while I have no idea what's in her account or what she spends it on.
And she puts whatever money that goes into my account into it and knows exactly what goes out of it every month while I have no idea what's in her account or what she spends it on.
Posted on 1/18/22 at 6:25 pm to HubbaBubba
quote:
So, do you also use the speaker every time you have a phone call so she can listen in on that, too?
No, but in 22 years I have never said something in a phone conversation that I wouldn’t want my wife to hear, other than a call about a gift Zíma was buying for her.
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