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Post By
jwd

In Reply To
MB

Subj: Re: Seperate accounts - wise financial move, or admitting defeat ahead of time?
Posted: Thu Dec 13, 2007 at 10:13:27 pm EST
Reply Subj: Seperate accounts - wise financial move, or admitting defeat ahead of time?
Posted: Wed Dec 12, 2007 at 10:55:23 pm EST

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My wife and I have joint everything. For us though, it was an easy choice - we started our marriage just out of college and neither of us had any separate assets to begin with, so it didn't seem like a monumental choice.

Some people describe a prenup as 'the first motion in a divorce yet to be filed'. I guess I feel sort of the same about separate bank accounts. Some friends of mine do the separate thing and seem to be very happy about it - though there is some occasional friction about who will pay for something. But the whole idea of it seems strange to me. If you're in a marriage with someone, why would you have divided accounts? Why would there be 'your' money and 'their' money. Isn't the whole point to partner together through life?

So what's your take? If you were getting married (or are married), which would your choice be?

> My wife and I have joint everything. For us though, it was an easy choice - we started our marriage just out of college and neither of us had any separate assets to begin with, so it didn't seem like a monumental choice.

That was us too. Although we were still in college.

>
> Some people describe a prenup as 'the first motion in a divorce yet to be filed'. I guess I feel sort of the same about separate bank accounts. Some friends of mine do the separate thing and seem to be very happy about it - though there is some occasional friction about who will pay for something. But the whole idea of it seems strange to me. If you're in a marriage with someone, why would you have divided accounts? Why would there be 'your' money and 'their' money. Isn't the whole point to partner together through life?
>
> So what's your take? If you were getting married (or are married), which would your choice be?

I'm with you. Joint accounts. We have all our accounts together. We use seperate credit cards though. Once we tried to use the same credit card (2 copies) and ended up going over the monthly limit. Now we have 2 seperate cards with lower limits on each.
We just keep all our receipts and type then into a spreadsheet every few days. When the bank and credit card statements come through we check them off. Shred the ones of non-importance like groceries, etc.

jwd



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