One shared account versus separate accounts

Jazzy1 said:
How do you feel about couples combining all their money into one shared account versus keeping separate accounts?
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Not a good idea. (Couple might breakup up and then who gets what argument) Each have a separate account, and have a separate account set aside in which each equally contributes, for paying for household expenses. :unsure:
 

When I was much younger I could adapt to the sharing of accounts…until my marriages imploded. The concept was great…the application decidedly risky. Now I am unmarried but in a very long term relationship….my bills are separate, as are my accounts. It offers much peace of mind. My guy’s assets far exceed mine…but I know what I know every day. And that is priceless.
 
Ron and I have separate checking and savings accounts, and also a joint checking account for household stuff.

Having been financially abused by my ex, and then taken again for about $30,000 in a platonic relationship with a man I’d known and trusted for 40 years, I decided never again to commingle funds.
 
We had a joint checking account but two checkbooks. Part of the balance was in my wife's checkbook and the rest in mine. The 2 checkbooks added together = the total balance in the one checking account.

I don't see that it matters because if the marriage had dissolved, all funds on deposit (except those owned separately prior to the marriage - zero in our case) are considered community property in Texas, and generally those funds are divided 50/50 if both partners in the marriage work and contribute more or less equally.
 
we had shared accounts that we paid the bills on.
i always had a rainy day account of my own. i did need it from time to time. now i live on my own and i still have that rainy day account.
i also have the last birthday card my parents ever gave me with a crisp $100 bill. i don't know if i will ever spend it. i smile every time i see it.
 
When I was married to the agent we had one account but I only did volunteering and for 30 yrs did not get paid. The money was handled by me. He got money when he asked for it. He also had an account from his job that was separate. I gave myself an account with my favorite stock broker at Raymond James and built a small fortune. When we divorced in 2007 I was secure. I never asked for a settlement and he never knew why.
 
Separate, but visible to each other.

I pay the 'big' bills.

She pays her little ones. Boscovs, etc.

Her pay isn't as steady as mine, and I'll transfer $500 every so often just to give her a cushion.

As far as savings, we only have one, but I don't recall her ever putting anything into it. LOL.
 
In the first marriage having a shared account, which he insisted on, meant he’d overdraft it. My name was on that account too. We both worked but he spent like it was all his and I pinched pennies for the household funds.

Second marriage, we both have our own accounts. Expenses are shared proportionately.
 
Jazzy1 said:
How do you feel about couples combining all their money into one shared account versus keeping separate accounts?
Click to expand...


I feel that different couples handle this differently and no right or wrong.

We have separate accounts as well as a joint account they are all linked and so all accounts are visible and accessible to both of us.
 
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