Separate or Joint Bank Accounts?

[Lil Miss Sunshine 14]

My husband insists on having only 1 joint bank account. whilst i don't have problems with it, i also want to save for my contingency fund which my husband doesn't clearly understand.

any thoughts or advice on this matter?

Edited May 28, 2008 by IsPiKiKaY

[mawilson 2,133]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

[Dan J 277]

My husband insists on having only 1 joint bank account. whilst i don't have problems with it, i also want to save for my contingency fund which my husband doesn't clearly understand.

any thoughts or advice on this matter?

It is easier to manage things with a joint account. But if you need a contingency fund, set up a savings account and allocate a certain amount of money to each month. We have something like that set up, in case my wife needs to take an emergency trip back home.

[Amby 490]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

that's what we do, but we have that both in the US & the UK. I'm not really sure why

[mawilson 2,133]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

that's what we do, but we have that both in the US & the UK. I'm not really sure why

Because the UK accounts don't cost you anything anyway, so why not?

[w¡n9Nµ7 §£@¥€r 123]

We have joint accounts - checking and a saving.

[Amby 490]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

that's what we do, but we have that both in the US & the UK. I'm not really sure why

Because the UK accounts don't cost you anything anyway, so why not?

after I said that I realised there is a reason. neil's UK life insurance, we also need it because our estate agent pays the rent from our flat in London into the account, soon the rent from out flat in Newcastle will go in there as well since we're kicking Neil's mom out. YAY!

[Cassie 8]

My husband insists on having only 1 joint bank account. whilst i don't have problems with it, i also want to save for my contingency fund which my husband doesn't clearly understand.

any thoughts or advice on this matter?

It is easier to manage things with a joint account. But if you need a contingency fund, set up a savings account and allocate a certain amount of money to each month. We have something like that set up, in case my wife needs to take an emergency trip back home.

Yep, we do something similar. We have a joint checking account, which is our main account, and a joint savings account that my hubby uses to save up some of his "fun" money. We also set up a checking account for me, and the savings account attached is designated as our "oh ####### we have an emergency" fund. And we have a separate online high interest savings account, also in both our names.

We both have access to both sets of accounts, and we've gotten along fine.

I guess the main problem here is miscommunication, in that 1) your hubby isn't understanding why you have the need for a contingency fund, or 2) he may be afraid that you are going use that to up and leave him in the future, hence the opposition, or 3) your reason for a contingency fund isn't convincing enough. Whatever the reason, it's obvious you will have to have another chat or two about this.

[Ban Hammer 13,330]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

[morocco4ever 63]

My husband and I have 2 joint checking accounts, but one is used only for his family if they need money. His check goes into the main checking for groceries and gas and entertainment. We have one joint savings, and this is used for purchases online through paypal. Then I have one checking set up in just my name. This is the one that the majority of my money goes in. It pays bills through EFT, and is handy for saving the extra for whatevers.

We have never spent much time thinking about separating our money because it just isn't an issue to either of us. It does make a lot of sense to have an account set up for saving, whether it is either or both names. Why does he have an issue? Has he explained it to you?

[nana_356 0]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

Totally agree!! the joint account is for bills house stuff etc, and my account is simply my account (he doesnt understand my shoe fetishes) so its best to have your own.

And we also have a joint savings (we are saving for a house)

Edited May 29, 2008 by nana_356

[Alex+R 0]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

that's what we do, but we have that both in the US & the UK. I'm not really sure why

Because the UK accounts don't cost you anything anyway, so why not?

after I said that I realised there is a reason. neil's UK life insurance, we also need it because our estate agent pays the rent from our flat in London into the account, soon the rent from out flat in Newcastle will go in there as well since we're kicking Neil's mom out. YAY!

Damn! Really? Just make sure all those kitties have homes if she can't take em all!

To the OP, get your own savings account. This ain't the KSA. We each have private accounts and joint accounts. I'm a control freak so I need to feel I have some control over some money. I'm kind of psycho. If you have a spouse with different monetary goals than yours, you need your own savings. Go get your own account, womon.

[Ban Hammer 13,330]

Have a joint checking account with your husband and your personal savings account.

Problem solved.

that's what we do, but we have that both in the US & the UK. I'm not really sure why

Because the UK accounts don't cost you anything anyway, so why not?

after I said that I realised there is a reason. neil's UK life insurance, we also need it because our estate agent pays the rent from our flat in London into the account, soon the rent from out flat in Newcastle will go in there as well since we're kicking Neil's mom out. YAY!

Damn! Really? Just make sure all those kitties have homes if she can't take em all!

To the OP, get your own savings account. This ain't the KSA. We each have private accounts and joint accounts. I'm a control freak so I need to feel I have some control over some money. I'm kind of psycho. If you have a spouse with different monetary goals than yours, you need your own savings. Go get your own account, womon.

ok, who are you and what did you do with alex?

[Lil Miss Sunshine 14]

i handle money more wisely than my husband.. ever since i got married, it felt like i lost my control over my finances because it is now "our" money as my husband would say. and most of the time, i just don't agree with his way of spending so i chose to open my own SA. i would have wanted to open checking/savings account but he insisted that i open a SA only because my purpose was only to save.

[✿Ice Rain✿ 0]

Have both joint accounts and have separate savings account for yourself if you want that too.