skip to Main Content
  • Viewing 15 posts - 1 through 15 (of 38 total)
  • Profile Photo
    WhatsAppers
    Participant

    How should money be managed between a couple? A shared bank account, or not? What suggestions do you have?

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    I think it can really depend on the situation. But in general I think a couple should have both, one shared account and each one a separate one as well. The shared account for shared expenses, like bills, tuition, grocery and anything needed as a family. And a separate account for pocket money, small savings, or little things that are personal to yourself.
    Just my thoughts, works for me 😀

    -Anonymous WhatsApper

     

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    Well if you are a “couple” then usually most again not all is shared expenses. For example you are not paying only half of rent for your part only. You are living together. So I would say a shared account.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    When we got married we discovered we had different record keeping styles, so for us 2 linked accounts, money is all shared. Retirement accounts were funded equally. When we had young children husband carried a larger life insurance policy than wife.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    Married for 40 years and I say that is true! Keeps marriage more comfortable.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    Same.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    This is how we do it.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    Totally agree…..
    However, what money goes into the shared account and which into the personals…..? 🤔

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    At the end of the day, almost every problem in marriage stems from a lack of or a problem with communication. Money is no different.

    Couples, before getting married, need to discuss money, budgeting, expenses etc. It’s not so much how many accounts you have, but having the same accountability with your shared money.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    I agree with this, mostly shared but there’s nothing wrong with separate bank accounts or like my grandmother calls it “ah knippel” (loosely translated it means pocket money)

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    There’s not a lot of info here, but I’m curious what’s behind this question especially as it is being asked in a clinical forum. Is there something bothering the questioner about how things are setup now? Finances can potentially be a way for a spouse to be controlling. I just want to validate that in case that’s what the questioner is dealing with.

    If it’s just from a practical lens, I think it’s smart practice for both spouses to know and be aware of the bills, how they are paid, and have access to the finances in case ch’v something happens to the other spouse.

    Hope this helps!

    Shaya Hecht, LCSW

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    How would allocate how much money goes to which account? What if both spouses are not on the same page financially? One is financially responsible and one believes in living comfortable aka spending all you have.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14175:

    We have that with cash at home. One shared account and envelope with cash for the month. And separate envelopes for our personal use. Works fantastic.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14198:

    Same.

    -Anonymous WhatsApper

    Profile Photo
    WhatsAppers
    Participant
    Topic Author

    In response to WhatsAppers's post #14198:

    Same. One shared Acct. And we both used it normally. As long as neither of us had any bad habits like gambling, shopping addictions, then it shouldn’t be a problem.
    And then envelopes that we would add money to until the goal was reached:
    Or just put into a separate Acct.
    Each Yom Tov expense budget
    Cleaning help
    Summer house / bungalow
    Daycamp
    Camp
    Tuition
    Therapists
    Dental / braces
    Etc .
    Bills that are pretty much the same each month like
    Car Insurance
    Home insurance
    Life insurance
    Phone bill / cable / WiFi
    Electric
    Gas
    Cel phone
    Etc
    And of course there are always miscellaneous expenses which came out of the main shared Acct.
    And we had a separate Tzedakah Acct.
    But never his Acct and her Acct.

    -Anonymous WhatsApper

Viewing 15 posts - 1 through 15 (of 38 total)

You must be logged in to to reply to this topic. Not a member yet? Register now!

Back To Top