Which is Better: Joint or Separate Accounts?
Money, Partnership | February 10th, 2010 by Valencia Higuera
I rarely talk about money or my personal finances with others. But occasionally, a conversation will come up in which I’ll reveal routine financial matters. Over the years, I’ve casually mentioned the fact that my husband and I have separate bank accounts. He pays his portion of the bills from his account, and I do the same. We’ve had this system in place since Day One, and it’s never failed. In fact, in seven years of marriage, I can’t recall ever having a fight over money.
Joint Accounts: Not For Us
I understand that many couples choose to have joint accounts. Some deposit all their money into one account, whereas others have a joint account for household bills while maintaining a personal account. This is fine–whatever works for those households is great. Yet the few times I’ve mentioned our little arrangement to others, I often received dropped mouths and confused looks. “What do you mean by ’separate accounts’?” people ask. Maybe I’m naïve, but I didn’t think keeping money separate was a foreign concept. If anything, I thought it would alleviate unnecessary headaches.
No Secrets
Although we choose to keep our money separate, my husband and I are open about finances. We can definitely assess each other’s money. However, we don’t have a habit of dipping into the other person’s account. I know how much money is in his account and vice versa. There are no secrets, and we don’t hide anything from each other. If I sit next to him while he’s checking his bank account online, he doesn’t immediately shut down the computer or shoo me away.















My husband’s favorite complaint is, “all you ever want to do is eat.” As much as this annoys me, he’s absolutely right. Eating out is what I look forward to on the weekends – it’s my main form of recreation. And yes, it can get expensive and it’s probably cheaper to cook at home. But I’m a sensible person, and I know how to find deals and eat on the cheap. Following are just some of the ways you can eat out two or three times a week, and stay within your recreation budget.