Is a joint bank account wise? (28)
After marriage, a year at least or i dont think i would feel comfortable
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Remember to always keep a little nest egg for yourself. However, I think joint bank accounts should really be for paying all bills that you share.
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The Account will be set up to get our dreams of living in a beautiful location, and I am just wondering if I am to show more committment to give him peace of mind? not sure?
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Great point LaVerdad, I am keeping my house (little nest egg) and like the idea you have.
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LaVerdad: Remember to always keep a little nest egg for yourself. However, I think joint bank accounts should really be for paying all bills that you share.
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mmm I like your reply Chavsmustdie, I think you can see my dilema. so far, I like both answers.
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Decode101: The Account will be set up to get our dreams of living in a beautiful location, and I am just wondering if I am to show more committment to give him peace of mind? not sure?
I would wait personally. If something were to happen ( I hope not ) where the relationship wasn't what you first thought, you could prevent a very uncomfortable situation of having to undo everything. Too complicated at such an early stage. JMO. Good luck and congratulations. ------ This thread is Archived ------
jeepers: I would wait personally. If something were to happen ( I hope not ) where the relationship wasn't what you first thought, you could prevent a very uncomfortable situation of having to undo everything. Too complicated at such an early stage. JMO. Good luck and congratulations.
I totally agree with the comments by Jeepers. One consideration is to make it if you want peace of mind say 2 or 3 people ot sign for withdrawls....like say tho both of you & maybe one of your parents as a safe guard at the beginning.
But I do wish you both all the happiness in the world
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thank you Jeepers for the congrats 
I actually never believed in joint accounts, bit of an independant Aussie chick, but thought getting on now, that perhaps I should ...my parents had one with no dramas.
I totally get your point though on "too early".
I actually never believed in joint accounts, bit of an independant Aussie chick, but thought getting on now, that perhaps I should ...my parents had one with no dramas.
I totally get your point though on "too early".
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Thanks Steve6610 on the Congrats ...funny being an Aussie and finally finding someone, and he happened to be on the other side of the world. I knew he was out there, but wasn't sure when or where..
I like your input too, have other sign, but would that not have others involved in your personal financial affairs?
I like your input too, have other sign, but would that not have others involved in your personal financial affairs?
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LaVerdad: Remember to always keep a little nest egg for yourself. However, I think joint bank accounts should really be for paying all bills that you share.
If you're talking about a savings account, I would never have a joint account with a man unless I was 40 years into a marriage.
I agree with LV that a joint checking account, with just enough to cover bills is okay. If either partner runs off with the money it won't be much.
There is a way that you can have his name on the account if you become indisposed. The only problem with that is (and I know from experience), if his credit rating becomes trashed, so will yours and it's a big deal to straighten it out.
Never, ever, cancel your credit card so that both of your names can be on the same card. Keep your identity by keeping your own credit card and your own savings account.
My suggestion, both of you keep your financial accounts in your own names. The time of joining together is in the bedroom.
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Decode101: The Account will be set up to get our dreams of living in a beautiful location, and I am just wondering if I am to show more committment to give him peace of mind? not sure?
No matter how much you love and trust him I say heck, no!
Dont put yourself in such a dangerous position. As others have said, wait till you have joint bills coming in and only then get a joint account which you can feed with just enough to keep them paid.
Did you come up with this idea or was it suggested to you?
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I have never done this. And not going to.
I want to know preciesly how much money I have on my account. If two people use it ... there will be a doubt how much can be spend.
Someone mentioned Comfortable I would like to feel comfortable
I want to know preciesly how much money I have on my account. If two people use it ... there will be a doubt how much can be spend.
Someone mentioned Comfortable I would like to feel comfortable
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No, just grow your own..he may run off with all your plants
Decode101: The Account will be set up to get our dreams of living in a beautiful location
It is not clear what type of account you are talking about.
Is it savings? Mortgage? I understood that it may deal with real estate purchase in future.
Why going into so much risk at the initial stage?
One could always rent in a beautiful location - to keep things simple and hassle-free. No need to get into decades-long mortgages, potentially into consumer loans and other financial matters etc etc.
The real estate that is jointy owned is less liquid ... in a case of dispute or refusal to sell by one party, one needs to go to courts, the result of which is a fire sale... needless to say, it always means a loss of money in such a case.
So, why buy now? Better to rent... :-)
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If you need a mortgage for your future living arrangements just make sure your name is also on it!!!!
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newinsouth: If you need a mortgage for your future living arrangements just make sure your name is also on it!!!!
In my marriages we always kept our own private accounts and any Credit cards were associated with those accounts only, we then had a joint account each paying a similar amount in each month, to cover normal everyday living expenses, rent gas, electric etc. when we wanted a holiday we also used the joint account to build up the money for the vacation.
When a friend got divorced recently, his wife had built up huge debts on there joint account for which he is now liable, so insure no credit is obtained on the joint account.
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Is a joint bank account wise?
I thought it was a good idea when I heard of it.
But when I went to deposit my joints you shoulda seen their reaction. Now I just keep em in my mattress.
I thought it was a good idea when I heard of it.
But when I went to deposit my joints you shoulda seen their reaction. Now I just keep em in my mattress.
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newinsouth: If you need a mortgage for your future living arrangements just make sure your name is also on it!!!!
No! Let him put his name on the mortgage but put yours on the deed!
Seriously though, to the OP, I had a joint checking acct with a gf. We bought a house together and yes both our names were on the deed although I put up the lions share of the down pmt. This became a problem when we parted because she felt we should split all the proceeds from the sale 50/50. I had a fight to get my deposit out before we divided up the rest. Anyway, we would deposit an equal amount of money into the checking acct which we used to pay all bills related to the house. This did not include gasoline but did include groceries. If we ran a little short we would both add an equal amount or if there was too much in it we would reduce next months deposit to bring it back to the desired amount. It worked like a charm.
I think opening a joint acct under your situation is absurd. full stop, period!
If this relationship goes south, which in your case would be Antarctica,
you will have Hell to pay getting unwound from this deal. Think about this.When love ends, you will become EX's. And you know what dealing with an ex is like.
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Dilema: Have a great relationship with my guy who I met right here. I am from Australia and he from USA. We are moving into the "planning of the future" together phase, which I am all for and loving it.
Question: in a serious situation, of setting up a joint bank account for the future, would you do it before marriage or after marriage?
I have my own convictions on this subject but I don't want to count it out completely if there is something I am not seeing.
Thanks heaps everyone I look foreward to your feedback