Shared Bank Accounts, Is it really needed?

[BadDogi 0]

Why separate accounts?? I think that is a bizarre idea and only leads to trouble for a married couple. Married people should have a joint account(s). One pot for everything, regardless of the income or the jobs. Use it to pay expenses, anything left over transfer it to savings account, which also should be joint. Discuses big purchases together and buy small items on your own as your finances permit. Simple and safe.

[pushbrk 12,892]

Why separate accounts?? I think that is a bizarre idea and only leads to trouble for a married couple. Married people should have a joint account(s). One pot for everything, regardless of the income or the jobs. Use it to pay expenses, anything left over transfer it to savings account, which also should be joint. Discuses big purchases together and buy small items on your own as your finances permit. Simple and safe.

And if your spouse agree, a perfectly reasonable solution. People are different though, in culture, ability to keep track of spending and in financial circumstance. So, there are many equally viable scenarios that couples use.

Back in the old days before debit cards and personal financial software or internet banking, my first wife and I had a devil of a time keeping track of where we stood, since I traveled and we needed to carry two checkbooks. This meant periodically merging check registers. When running a tight cash position, this can be precarious. We did keep a joint account but it would have been somewhat easier to have separate ones.

There's no one right solution but for immigration, it's a good idea to have some money in a joint account.

[MrsD 0]

Why separate accounts?? I think that is a bizarre idea and only leads to trouble for a married couple. Married people should have a joint account(s). One pot for everything, regardless of the income or the jobs. Use it to pay expenses, anything left over transfer it to savings account, which also should be joint. Discuses big purchases together and buy small items on your own as your finances permit. Simple and safe.

Exactly!!! That is what I am trying to point. Aren't you becoming one by getting married, isn't that one of the basis of family unity? If I didn't trust my husband that way and vice versa, I would never got married in the first place.

Arent you living in the same place, paying same bills, saving together and spending money on the things you enjoy together???

Thanks for showing me that I am not the only one. I guess lifestyle here is different.

Edited August 6, 2008 by mrsdarty

[MrsD 0]

It is hard for me to understand why married couples would not have access to each other's accounts. Sure, it is normal to have multiple bank accounts, even in different names because of credit reports etc. but I really can not get that somebody doesn't want to have anything to do spouse's finances... And the other way around.

Maybe it is my culture, the way I was raised, but I firmly believe that husband and wife should share everything. Isn't that what marriage is all about???

My husband told me a lot about people here in US getting married for wrong reasons, I guess everyone is terrified and not trusting enough. Just look at the divorce rate.

Again, for me it is hard to get that. I have complete access to my husbands bank account, cards, his credit report, I even did his taxes for last year. He trusts me without any reservations and I deserve that trust. Actually. he loves that I took responsibility of paying bills and dealing with taxes and credits.

What is general state of mind in US when it comes to that?

You've got to be kidding me!!!!!!??????? I'd rather hack my own nuts off with a rusty penknife than allow 'er indoors anywhere near my credit cards!!!!!!

Yeah, that is called MARRIAGE.

[melusine 5]

here we both have our own accounts and 2 joint account.

I also have access to everything.

Mostly we use common account for everyday life and saving for projects (well... one day)

and our personal account more for gifts or to be able to surprise the other one.

We didn't put our plan in action yet because we are still transferring money from one point to another but this is the idea.

[edp333 9]

You've got to be kidding me!!!!!!??????? I'd rather hack my own nuts off with a rusty penknife than allow 'er indoors anywhere near my credit cards!!!!!!

What culture does not allow their wife indoors?

Back on topic, a joint account may not be as necessary for most K1 AOS applicants, as many do not go to an interview near as often as K3 or CR1/AR1 AOS applicants. But why risk a refusal? It is not as hard to add your spouse to accounts as to fight a denied AOS.

[Big Papa Zone 93]

You've got to be kidding me!!!!!!??????? I'd rather hack my own nuts off with a rusty penknife than allow 'er indoors anywhere near my credit cards!!!!!!

Yeah, that is called MARRIAGE.

Er no, that is called ASKING FOR TROUBLE. Trust me, I know. I've no issue with a joint account for everyday life (rent/mortgage payments, groceries, stuff for the kids etc...) but my credit cards???????? No chance!!!!!!!!

[Big Papa Zone 93]

You've got to be kidding me!!!!!!??????? I'd rather hack my own nuts off with a rusty penknife than allow 'er indoors anywhere near my credit cards!!!!!!

What culture does not allow their wife indoors?

OMFG!!!!!!!

Oh edp333, you complete legend!!!!!!!! I think that's quite possibly the funniest thing I've ever read in my life!!! There's absolutely no point in my trying to explain it to you, no point at all!!!

[Cassie 8]

Why separate accounts?? I think that is a bizarre idea and only leads to trouble for a married couple. Married people should have a joint account(s). One pot for everything, regardless of the income or the jobs. Use it to pay expenses, anything left over transfer it to savings account, which also should be joint. Discuses big purchases together and buy small items on your own as your finances permit. Simple and safe.

Exactly!!! That is what I am trying to point. Aren't you becoming one by getting married, isn't that one of the basis of family unity? If I didn't trust my husband that way and vice versa, I would never got married in the first place.

Arent you living in the same place, paying same bills, saving together and spending money on the things you enjoy together???

Thanks for showing me that I am not the only one. I guess lifestyle here is different.

No, it's just that some people feel more comfortable (especially those burned by previous marriages) keeping their money separate. They love each other just the same, but just keep handling money separate. My former boss and her second husband both were widowers and in their 60s. Both of them had extensive trusts, investments, etc. and they keep all that separate and split expenses down the middle. It's not a matter of trust. but a matter of it's just plain easier.

My husband and I have a joint account (he put my name on his accounts) but we also set up a savings and chequing account for me. Works for us.

[wifetobe 2]

It is hard for me to understand why married couples would not have access to each other's accounts. Sure, it is normal to have multiple bank accounts, even in different names because of credit reports etc. but I really can not get that somebody doesn't want to have anything to do spouse's finances... And the other way around.

Maybe it is my culture, the way I was raised, but I firmly believe that husband and wife should share everything. Isn't that what marriage is all about???

My husband told me a lot about people here in US getting married for wrong reasons, I guess everyone is terrified and not trusting enough. Just look at the divorce rate.

Again, for me it is hard to get that. I have complete access to my husbands bank account, cards, his credit report, I even did his taxes for last year. He trusts me without any reservations and I deserve that trust. Actually. he loves that I took responsibility of paying bills and dealing with taxes and credits.

What is general state of mind in US when it comes to that?

You've got to be kidding me!!!!!!??????? I'd rather hack my own nuts off with a rusty penknife than allow 'er indoors anywhere near my credit cards!!!!!!

Spot on Damian