ANSWERS: 6
  • I like the set up of a joint account bills are paid out of and each partner having their own separate account.
  • That depends on what each person wants to do. My husband and I put our money together. To us it is just easier than trying to figure out who needs to pay what when. My brother and his wife have an account together and also their own seperate accounts.
  • Both. There should be a common account for the home and utilities and an expense account for each partner that is separate.
  • It should be whatever is comfortable and practical for the partnership. Ideally, everyone is responsible with money and nobody has unreasonable amounts of debts. Realistically, that's not always so. My husband and I have a joint account and a joint savings. I also have a college fund that my family contributes to that isn't in his name (though he knows about it), and he has a checking account that I don't have access to. I know happily married folks who love each other to bits but who cannot agree on money, so they maintain separate accounts and each person pays half of each bill. It can be cumbersome and requires quite a bit of management but that's what it takes for those individuals to be comfortable with their money.
  • There is no single right answer. So many different situations and needs.
  • Legally it is all together. But some people are not fiscally responsible and should not have a checking account. They would work better under a cash-only basis. It all depends on the individuals and what works best for them.

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