Oddly enough Wells Fargo gives yoj as much credit for owing them money as having money. Our checking account is free so long as we have a certain amount in any of a bunch of accounts, including savings. But we got promoted to high class customer when we moved our mortgage to them. Beats me.
Bolded for truth. We have completely separate accounts and square up on big stuff. I worked for a long time in commercial banking and saw a lot of problems created with joint accounts; I don’t need those problems.
Sure but that’s why our money is consolidated but there is only one person doing the job of managing the money.
I know it’s lame but we run our marriage like a small country. We each have different roles (Minister of Finance, Minister of Transportation, Minister of Public Works). We treat them as real jobs (as real as the ones we get paid for). We sometimes even have meetings to determine the direction (short and medium) that we should be taking.
It’s like anything else in a marriage, if you are both on the same page financially, it doesn’t matter who does the bookkeeping since you will both be satisfied with the results. It’s when you are not on the same page that arguing ensues. Those arguments are likely to happen regardless of who has what accounts and pays what.
I did, based on the advice of my ex-mother in law. It actually worked out very well for us. We each had separate bills/expenses and also allowed us both to save at different rates.
Also, the ex-wife was a MUCH better saver than I was.
If my husband and I had shared account we would be constantly fighting. For example this past week he bought a $100 tool that he might use twice a year. I bought a $3 I-phone app. He thought my purchase was ridiculous.:smack: I have no absolutely no desire to reconcile a joint account every month.
Depends. It’s much more efficient to have specific functions to handle specific tasks than one large routine that is going to have to test for all possible requests made of it.