Homeowner or married? Joint bank account?

Having just bought a business and a house with my gf, we have joint accounts and all money is pooled. Any expenses other than direct debit are discussed prior to purchase.

This seems sensible to me - if a little risky but I'm amazed by the number of couples who are married, have kids or property and still keep their finances separate.

What amazes me more is that they give their partners their passwords/pins etc and therefore negating any benefits or security from having joint accounts.

So OG, am I a naive dipshit or are joint accounts the norm and those couples with separate accounts but shared passwords and pins living a life of little trust and deluded security? Phone Post 3.0

Own accounts

Married 10 years

 

ZERO issues

 

 

I have so many friends that get into stupid arguments of money spent on silly shit...F that

Do you promise to update this thread after?

Me and my wife had joint accounts before we were married and she always handled
Most of the finances. Now, I have it set up that my check is direct deposited into 2 accounts - 1 which all bills and utilities are directly taken out of, and another debit account that is used to fuel, groceries, and everything else. Hers is deposited into a savings account. Never had any problems even before she was working. For some it works, for others it won't. I know people that have been married for 30 years that still bitch about the other spending "their" money. I don't get it. Phone Post 3.0

to each their own, but I would never under any circumstances get a joint account.

Our only joint account is our house account, and we each put $1100 a month into that.

Other than that, seperate accounts. I have no idea how much money she has in her account, and I don't care what she spends her money on.

Never had even 1 minor spat over finances.

Nope. Never. Phone Post 3.0

We have the house fund which pays the bills and accounts of our own. It works pretty well.

RKing85 - to each their own, but I would never under any circumstances get a joint account.

Our only joint account is our house account, and we each put $1100 a month into that.

Other than that, seperate accounts. I have no idea how much money she has in her account, and I don't care what she spends her money on.

Never had even 1 minor spat over finances.
So no trust in your relationship?

Does she know your bank account/cashcard password/pin? If not, how do you run an efficient household? Her nipping to the supermarket etc on the occasions when her card isn't available for one reason or another and you are busy must be a nightmare?

I really don't understand how people can have kids together or get a few hundred thousand pound loan for a house but not trust their partner with a small (in comparison) financial agreement?

Having said that, I've learnt many things from my OG brethren and I'm happy to see the error of my ways - if they are indeed that. Phone Post 3.0

It's not about trust. I keep it separate so there is no animosity. If I'm saving for a new gi or private lesson and she goes splurges on a new outfit. I don't want to feel jaded. With her account she can do whatever she wants and so can I. Phone Post 3.0

We had a joint account before we were married. Phone Post 3.0

Joint account.

Zero issues. Phone Post 3.0

If you don't trust your spouse you definitely would want separate accounts.

We didn't have joint accounts until we got married but once you make that commitment I don't see the reason for separate accounts unless your spouse is terrible with money or has a drug problem. Then I think it would make sense.

But as long as both of you are happy with the arrangement it doesn't really matter what anyone else thinks. That's the biggest thing I've learned in 20 years.

quarcus - It's not about trust. I keep it separate so there is no animosity. If I'm saving for a new gi or private lesson and she goes splurges on a new outfit. I don't want to feel jaded. With her account she can do whatever she wants and so can I. Phone Post 3.0
That's just it though. I do see it as trust. I trust her that before she goes and buys owt, she rings first - and I do the same.

How on earth does xmas/holidays/school uniforms/new car/etc work? What about when she's on maternity leave? A 50/50 split (assuming you don't earn the same) must cause animosity?

Again, for those who have separate accounts, do you share your pin numbers/passwords? Phone Post 3.0

One joint account that all bills are paid from, another account that is for savings and another account that belongs to me. I split my check 50/25/25. I'm salary so the same amount is deposited every pay period. She makes more then I do and she does the same thing. As long as our bills are paid and were putting savings away I don't care what she does with her money. She handles all the bills. Have ha maybe one or two disagreements about money. Mostly centering around my passion for buying expensive stuff like boats and classic cars. Besides this as long as the bills are paid on time I don't care. Phone Post 3.0

g3cko - We have the house fund which pays the bills and accounts of our own. It works pretty well.
This. We have a separate holiday fund too. I earn waaaaaay more than SammichKing but he has more at the end of the month. I may bring up the pooling idea ;-)

J/k it works fine for us. We put a half of our respective wage in the house fund and I put a bit in the hols fund and the rest is our to do what we like. No need to negotiate although we tend to run large purchases past each other to assess the stupidity. Although he's stopped telling me about his golf bats. They're a given apparently. Phone Post 3.0