- This topic has 37 replies, 1 voice, and was last updated 2 months ago by
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How should money be managed between a couple? A shared bank account, or not? What suggestions do you have?
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 đ-Anonymous WhatsApper
Well if you are a âcoupleâ 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
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
In response to WhatsAppers's post #14175:
Married for 40 years and I say that is true! Keeps marriage more comfortable.
-Anonymous WhatsApper
In response to WhatsAppers's post #14175:
Totally agree…..
However, what money goes into the shared account and which into the personals…..? đ€-Anonymous WhatsApper
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. Itâs not so much how many accounts you have, but having the same accountability with your shared money.
-Anonymous WhatsApper
In response to WhatsAppers's post #14175:
I agree with this, mostly shared but thereâs nothing wrong with separate bank accounts or like my grandmother calls it âah knippelâ (loosely translated it means pocket money)
-Anonymous WhatsApper
Thereâs not a lot of info here, but Iâm curious whatâs 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 thatâs what the questioner is dealing with.
If itâs just from a practical lens, I think itâs 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 châv something happens to the other spouse.
Hope this helps!
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
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
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 shouldnât 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
