We have a couple joint accounts. Checking, savings. I have a "hunting" account that is just mine for leases, and other hunting expenses. If you have separate accounts but swap money back and forth why not just get a joint account?
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I probably shouldn't weigh in on this, because we have several accounts at different banks, and I don't have the faintest clue what is in any of themmy buddies all say I'm nuts for not knowing, but I trust her with my kids lives, why in the heck wouldn't I trust her with money?
And before anyone says "get screwed over and you'll wish you hadn't been so trusting"...this is my 3rd (and final) marriage. When she met me, I was a homeless alcoholic, who had reached bottom, and had no clue which way was up. She didn't marry me for money, I can promise you that...nor was it for my looksGod brought us together and changed my life, so I no longer worry about material things like I used to. I'm blessed, whether I'm broke or loaded
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Originally posted by AtTheWall View PostSeperate accounts. The first one, after 24 years of joint account...kind of took advantage of this situation. She tore through money, found another man and used our savings account to lock in her lawyer....which I ended up having to pay since she tapped the joint account, and I was the only REAL income in the household. Her income, covered nails and 400 dollar a month trips to the beauty salon, shopping mall and the things she wanted to spend her money on.
No more of that ****! All it takes is one bad experience......I'm not going to go there again. I lost literally 200k dollars after the first one hammered me, accounts, savings, 401, house, household furniture....cleaned me out.
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Wife & I each have our own account. When paychecks come in, the allotment for bills gets deposited into our joint checking & joints savings accounts. This way, we each have some regular running/spending money for everyday uses (gas, groceries, etc). If there's a larger or extra expenditure to be made it is discussed between wife and I how/when/if it will be funded. We also each have access to each other's individual accounts in case of emergency or just wanting to check in on the finances. The individual accounts keep us from overspending as we each know how much allowance we've given ourselves. It also makes it easier to keep track of our individual allowances this way, we don't accidentally overdraw an account. Been married 9 years. This has worked well for us.
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Originally posted by Shane View PostAs you can see, there is no magic in the number of accounts a couple has. Some people do great with two (or more), and others do great with one. What matters is open and honest communication and cooperation in your financial decisions (not to mention everything else). During the years my wife stayed home with our kids, my paycheck was still OUR money. We put part of it into her account every month so she could take care of all the bills and expenses that were easier for her to handle. We talked about our budget and who was responsible for this and that. It worked great. Still does, even though she gets a paycheck now. We still talk about what we're doing with our money with each other. That's the important thing. You can have how every many or few accounts you want. If you try to hide things from each other, it'll blow up on you. If one of you tries to dominate all the money decision-making, it'll blow up on you. But if you are both open and honest and cooperative in your decision making, it'll work great.
I agree. I think being open W/ your spouse, not trying to keep secrets & discussing your finances is the most important thing.
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Originally posted by A&M 90 View PostHeck Rob, after all that, it's surprising you ever remarried!
I haven't LOL! I'm single and recently jumped ship again, we never married! The EX remarried.....this is her 3rd. Poor bast ages!The last one had a good job but, she wasn't quite the outdoor type and I had to store my wildlife mounts in storage. The HORROR! LOL!
Fish and hunt......if I ever find someone else, she better like hunting and fishing more than I do!
I hope the next one, has a better wall collection than I do and doesn't mind running the Laguna Madre all day long. I know she's out there...somewhere
Note to self...if she doesn't like to camp, she might not fit the profile.Last edited by AtTheWall; 10-12-2014, 09:32 PM.
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10 years and joint account. In my view when we got married...the whole "my money, your money" thing went out the window. Anything over $100 or so we discuss and we talk about our budget and all big purchases. We both make good money and it works for us. It helps that Christ is at the center of our marriage and our finances.
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