Joint bank accounts? (24)
Lonely1Ottawa, Ontario Canada76 Threads 21 Polls 1,858 PostsDo you believe in having a joint bank account, or keeping separate accounts and paying individual bills?
Lonely1: Do you believe in having a joint bank account, or keeping separate accounts and paying individual bills?
My mother and father have both. Joint account pays all the bills and household needs.
A small personal one, so they can save for something... like a gift for each other.
If I had an account with the ex, I would not been allowed to touch any of the money, even if it was what I earned.
Having my own account, also allowed me to pay for the kids things or for my parents to transfer gift money to the kids. If the ex had of gotten it, we would not have been getting gifts for the kids as my parents would have wanted.
JMO... have both one for yourself and a joint account. If there is a break up in the relationship.... you will still have your own account.
"JMO... have both one for yourself and a joint account. If there is a break up in the relationship.... you will still have your own account."
That's what I have. I am wondering if there are any pro and cons to having separate accounts. Would welcome experience with this. I believe joint bank accounts is best. Of course there is the trust and maturity factors....
That's what I have. I am wondering if there are any pro and cons to having separate accounts. Would welcome experience with this. I believe joint bank accounts is best. Of course there is the trust and maturity factors....
Lonely1: "JMO... have both one for yourself and a joint account. If there is a break up in the relationship.... you will still have your own account."
That's what I have. I am wondering if there are any pro and cons to having separate accounts. Would welcome experience with this. I believe joint bank accounts is best. Of course there is the trust and maturity factors....
That's what I have. I am wondering if there are any pro and cons to having separate accounts. Would welcome experience with this. I believe joint bank accounts is best. Of course there is the trust and maturity factors....
My experience was when I had a joint account wit my ex, my money became his, not vice versa. So I am happy to say I prefer my own.
The negative thing about joint account is that someone other than yourself is watching your money, and has plans for it besides the ones you discuss together. The negative thing about separate account is, if you can't take care of your affairs while ill, and you didn't set up an automatic withdrawal plan with the bank, then your bills may go into arrears, and your partner can't do much to help you in that case without your signature.
mychelle: My experience was when I had a joint account wit my ex, my money became his, not vice versa. So I am happy to say I prefer my own.
The negative thing about joint account is that someone other than yourself is watching your money, and has plans for it besides the ones you discuss together. The negative thing about separate account is, if you can't take care of your affairs while ill, and you didn't set up an automatic withdrawal plan with the bank, then your bills may go into arrears, and your partner can't do much to help you in that case without your signature.
The negative thing about joint account is that someone other than yourself is watching your money, and has plans for it besides the ones you discuss together. The negative thing about separate account is, if you can't take care of your affairs while ill, and you didn't set up an automatic withdrawal plan with the bank, then your bills may go into arrears, and your partner can't do much to help you in that case without your signature.
Quite the can of worms here. While I have never had your experience with a joint account, I see your point. There is also the perils of separate accounts.
I hope I never meet someone who did to me what was done to you, because I still believe joint accounts is best, with less headaches. Of course if there is no financial trust it is hard to make the relationship work.
mychelle: My experience was when I had a joint account wit my ex, my money became his, not vice versa. So I am happy to say I prefer my own.
The negative thing about joint account is that someone other than yourself is watching your money, and has plans for it besides the ones you discuss together. The negative thing about separate account is, if you can't take care of your affairs while ill, and you didn't set up an automatic withdrawal plan with the bank, then your bills may go into arrears, and your partner can't do much to help you in that case without your signature.
The negative thing about joint account is that someone other than yourself is watching your money, and has plans for it besides the ones you discuss together. The negative thing about separate account is, if you can't take care of your affairs while ill, and you didn't set up an automatic withdrawal plan with the bank, then your bills may go into arrears, and your partner can't do much to help you in that case without your signature.
It happens in relationships where a joint account is regarded as an open account to both as it should be but for some selfish individuals who are unable to control there spending can cause a lot of stress in a relationship especially if the spending is one sided
Joint accounts can be good for the family bills and a joint saving account for future family vacations I find there is nothing wrong with each individual having there own seperate account for personal savings
I think it is a shame when one individual in a relationship controls the finances and dictates where and how money is spent and invested
Lonely1: Do you believe in having a joint bank account, or keeping separate accounts and paying individual bills?
I think that there SHOULD be a joint account to pay JOINT expenses...such as rent/mortgage, groceries, utilities, insurance...etc.... and I also think it is a GOOD thing to have seperate accounts.... so that you can indulge in what it is that you want
I have never been with someone and had a joint account other than my mom....and there were NO PROBLEMOS
PS: IF there is a trust issue about joint accounts, then why are you even with them?
no trust? no account...NO RELATIONSHIP! PERIOD!
Lonely1: Do you believe in having a joint bank account, or keeping separate accounts and paying individual bills?
I quess its up to the individuals and what they decide..
but for me JOINT IS FINE
kissmedeeply: I quess its up to the individuals and what they decide..
but for me JOINT IS FINE
but for me JOINT IS FINE
So I guess you have never been burnt. I should have done this as a poll. So far most responses have said joint accounts, which proves that only a few people have been burnt. Hooray for maturity and honesty among couples!!!!
gemery: Instinct says nope. However, the logic behind a joint account for the reasons stated make sense.
geo
geo
so which works for you?
seperate.........
I had a joint with my ex. I say as long as you both have an understanding, and talk about money. Example; you don't run out and buy something big and expensive without discussing it with your partner first. It takes trust, but then again without trust is it really a good relationship in the first place?
Lonely1: Do you believe in having a joint bank account, or keeping separate accounts and paying individual bills?
I am surprised this is not archived..
Lonely1: Do you believe in having a joint bank account, or keeping separate accounts and paying individual bills?
Separate. However, if the marriage is solid, then perhaps a dual account JUST FOR HOUSEHOLD EXPENSE. In the case of not being married but living as a couple, then definitely separate. If purchasing a home together, both parties need monthly legal receipts proving they are paying their fair share...trust me...each party must be able to continue on life if the relationship fails, with as little fiscal contentions as possible. 
kissmedeeply: I quess its up to the individuals and what they decide..
but for me JOINT IS FINE
be honest— how many times in your life have you heard someone say, “I never would have believed, in all the world, that (s)he would do that”.? Right...? Right.. separate accounts..end of story.but for me JOINT IS FINE
Lonely1: I am surprised this is not archived..
Oh, I don’t think it rises to that ...it’s not inflammatory— just discussion.rohaan: Oh, I don’t think it rises to that ...it’s not inflammatory— just discussion.
I guess your are right. Or is it that this is in the Canadian forum, which needs reviving? 
Separate personal savings account, separate credit cards and separate debit card bank accounts.
One credit card for the big items such as appliances.
One credit card for the big items such as appliances.
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