bank account question

[CarolineM 0]

thoughts?

I always assumed when I got married I'd have a joint account, but never really thought about the pros and cons - any advice from the pros here?

Would him being on my account help his credit?

[faith 0]

it won't help his credit SCORE. But having an account that was established longer ago then when he arrives will look good for him.

We have a joint account. Got it two days after we got married. I actually just added him to my account, which let him have a visa debit card (our bank won't give them unless your account is a certain age or you have great credit) right away, and it was one more "proof" for AOS

For us it's just easier. It's our money, we both have access to it.

[Mand 1]

We've a joint account too, mainly for the reason that when I do the grocery shopping, get gas or whatever, that I don't have to go and ask for money each time. It doesn't help me credit wise, but it just makes things more normal if that makes any sense

[CarolineM 0]

thanks guys, this is all good info

[Cdnwmn 0]

We have a joint account too since I'm the one who writes the bills, buys the groceries, pays the loans and the mortgage, etc etc.

I do however plan to have my own nest egg once I get a job.

[w¡n9Nµ7 §£@¥€r 123]

Joint accounts are convenient. We have one bank account, everything goes in and out of one place. It's easy. Best part is, we don't get all hung up like some other couples do about what is "my" money and what is "her" money ... it's all our money (read "her" money:P).

[Garfield fan 0]

The only account that we have is joint account. For us, it's just a matter of simplicity of having only one account that we use to pay all of our bills and everything else. It won't help him building his credit though. To build credit history, he might want to try applying for credit card, try department store card like Walmart card, etc., they are usually more lenient to people with no credit history. Another thing to do is to put his name under whatever loan you have (car loan, mortgage, etc.), then he will start building some history, not sure if this is a simple thing to do though.

The pro of having joint account for us is the simplicity and my hubby is not very good at managing money anyway, so having my name in his account will allow me to do that for him. The con would probably be the "confidentiality" issue, your partner will be able to see whatever you do with your joint account and sometimes you might not want that. My hubby let me do whatever I think the best for our money, so no problem here...

[faith 0]

the only time he ever hated that we have a joint account was when he had to hand over the receipts for presents for me so I could put them in the checkbook

but he's gotten smarter.. he just takes cash out now

[m_and_m20 0]

When my hubby first got here, we didnt joint our accounts right away. I helped him set up his own checking account. We are both firm believers in 'my money is mine, yours is yours.' but when we moved out of the parents house into our own apartment, we set up a joint account at the bank close by us. I write all of the checks, we both have debit cards, although my hubby never uses his, he likes cash. But when it comes time for bills that he pays for (rent, truck payment, etc) he just gives me the money out of his check and i deposit it into our account.

so really its just my account with hubbys name on it too. I guess it just depends on if you both plan on using it.

[rejane 1]

My husband and i do have the same bank account, we opened it together a little while back...

I think it s good to have the same bank account for future aos interview.

I m mainly the main user of the bank account.

[Sister Fracas 5]

We have joint checking and savings accounts, the joint being for all the household stuff/going out/etc, and then we each have our own personal accounts so we can pay our own personal bills (credit cards/loans/etc) and then we can have our "mad" money there too. If we just had a joint account, I wouldn't want him knowing how much I paid for his birthday presents or indeed where they came from, for example, so I pay for it out of my personal account.

[almaty 19]

we also have a joint account..much easier and simple..i agree with brother arijit..except..it is all her money

[Kajikit 65]

Joint accounts are better because if something happens to one partner the other can get at the money for necessary expenses...

[chri'stina 190]

We have 3 accounts.

One joint, then we each have our own account. Why? Well because it helps us when we do our budgets. My sole account acts as our savings account, our joint account pays most of the bills, and Sujeet's account keeps his money for gas to commute to work, and whatever else he needs and that is the account his salary gets electronically deposited into each month. Since they are all in the same bank, we can transfer the money between our accounts easily online.

[Sister Fracas 5]

Since they are all in the same bank, we can transfer the money between our accounts easily online.

yup, ditto with all of our accounts...