Honey, We Should Split Up – Our Accounts.

Posted by Brooke at 8:59 AM

Tuesday, March 10, 2009

I just finished an article in a popular womens' magazine that talks about the differing perspectives on an age old argument of split or joint bank accounts between married couples. The debate is a hot topic and according to several therapists, the idea of split account can lead to more trouble than it’s worth. But what about those couples who seem to struggle with money? And what if one partner is less responsible than the other when it comes to paying bills and spending habits? Do the same rules apply? And who’s rules are they anyway?
I know many women, in fact I am a member of a women-only group, and we have talked about the need that many couples have to have separate accounts. My husband and I argued about money for years. Finally one day I got fed up and opened my own account. He did the same. Now we share an account that we pay the bills from and the money that is left over in our other accounts is ours to spend how we deem appropriate. But there are those that emphatically feel that our way of managing money can only lead to troubles later on and fosters distrust. I disagree.

I have found that our separate accounts have led to less screaming and yelling over the same beaten horse and on the subject of distrust. That is a subject of character. I do not use my account to buy things that my husband would not approve of or to do things that would not be good for our marriage. I trust that my hubby does the same.

What we realize is that independently we can make personal banking choices without stepping on each others toes, while still effectively running a household. I believe that banking styles are a personal choice for a partnership, and you need to come up with the solution that best suits both of you, not a one size fits all recommended by anyone else.

- The Working Wife

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