22 answers

Financial Advice? - Beach Haven,NJ

Do you just have one joint checking account do you have your own separate accounts, I'm thinking of having what about three accounts, one mine, one his, and one for the household bills? We both work now so we would have our own accounts and then each deposit a percentage into the household account that is ONLy for household shared expenses. I would love to hear from other couples families, what their financial arrangements are and how it works for them and their spouses.

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My mother always told me, no matter how happily married you are, a woman should always have some money in her own name, and a good credit history, too. You never know.

1 mom found this helpful

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It's been wisely said that when you get married--it's a joint venture, so the money should be pooled. Do you know about Dave Ramsay? Very good financial advice and you can buy one of his books used. Great advice for managing money. Good luck!

2 moms found this helpful

We have one account. We don't hide things this way. And yes, the Dave Ramsay way is our way also. We just started his books 2 weeks ago but been pounding the debt hard.

2 moms found this helpful

If I were ever to remarry, I would have 3 and keep my money seperate. It makes it easier just in case divorce or death happens. Before I had money, I would insist on one account since we had so little.
No matter what you choose, make sure each of you has x dollars per month to spend on whatever you want without criticism. I do NOT believe in paying for tv and he doesn't believe in my crafts.

2 moms found this helpful

My mother always told me, no matter how happily married you are, a woman should always have some money in her own name, and a good credit history, too. You never know.

1 mom found this helpful

Everything is joint. We view everything we have as OURS, and felt it was important to arrange our accounts to reflect that. When we got married, we consolidated some accounts and added each other onto everything. Even though he's the primary breadwinner right now, the money is no more his than mine and all financial decisions are made jointly (via a budget that we created together). That doesn't mean that we can't have "fun money" to spend on whatever we want, but that money is accounted for in our budget -- it's not just like he can do whatever he wants with the balance because he earned it.

Even though I'm not currently working, it is important for me to have money in my name and a credit history, so we have our own credit cards and loans/titles will be in both of our names.

1 mom found this helpful

I have one account for myself and a joint account with my husband. Direct deposits goes into my account and then I transfer what I think my husband needs into his ;)

Add on:
I do this because I was divorced once and went through much pain getting myself back on track financially. Women do need to protect themselves. If for some reason (back child support, IRS problems) your husband has some skeletons they can freeze your bank account (happened to me), so I personally feel more comfortable having an account in my sole possession. It makes things less complicated if something crazy were to happen.

1 mom found this helpful

We have one account! We are married so there is no my money, his money. Look into Dave Ramsey! He has awesome ways to do things and he has a budget that allows for each of you to have your own blow money, but it is budgeted for. It is awesome because on the blow money it is no questions asked!

1 mom found this helpful

Depends on you and your spouse. Money can be a reason to disagree and fight.......so it depends on works best for your personality types.

We share it all, but we think alike. We don't give each other a hard time about expenditures and we both stay in reason. However, if one of you is into "control," then separate might work better. Work out your budget, deposit what you both agree is fair into each account and don't pay attention to what the other one is doing.

1 mom found this helpful

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