Wednesday, July 30, 2008

Love Q #14

Should you have a joint account with your partner? And should you keep tabs on what he or she may be spending on?

I think there should be a joint account for all of the household items (rent, mortgage, holidays, bills,food, savings etc) that are budgeted for together (as a couple) but each partner should also have an agreed amount of "spending money" that is there to do with as they wish. This spending money (be it $20 per week or $200) does not go into the joint account.

5 comments:

pita-woman said...

lol at this one... we've just got the joint accounts, as there never seems to be any money left to go into separate accounts (if we had them).

Mountaingirl said...

Ain't that the truth lol :-) I must admit I was taking "ideally".

kyles said...

i have never asked about moth's overtime, or his extra pay for being oncall, similarly he has never asked about mine! everything else is joint, and goes towards bills, etc

on the other hand i have a friend who has been with her partner for nearly 20 years, and everything is his and hers, there is no joint account and all bills are divided equally, whatever works!

Alison said...

LOL.. My husband and I each had (still do, actually) our own business and we were dreadfully competitive when it came to money and profits. We had a joint account for our "together" living expenses but mostly we managed our own finances.
I maintain this is why I always had more money than he did. lol!

Aud said...

I don't know. I myself like separate accounts. I don't like to keep tabs on what he is spending as long as he does it responsibly and not use it to gamble or something like that. But I also have friends who insist on joint accounts and it works just as well. I think it depends very much on your views on money, I guess.