There’s a fascinating train of thought on whether couples should keep one bank account or separate accounts.
In the old days (around the time I got married) it was common for women (if they brought in an income) to blend all monies coming in into one bucket.
Every time I talk to someone new, I’m mildly surprised to discover my way is in the minority.
It makes sense to keep separate accounts, and safer too, especially if you’re newly married. You don’t want to toss your coin in with your mate and find out he’s a weasel.
I did it all wrong when I got married. We were so sure about each other, we started combining our funds BEFORE we married. I’d never recommend this course of action to anyone. I was just lucky.
He could’ve absconded with my hard earned $2K I had in the bank. I also, could’ve absconded with his kingly treasure of $53.50. 😀
Seriously, I don’t remember how much he brought into the union, but even back then I was the better saver and I squirreled away every nickel I could. He usually spent his money on me so that might account for his paltry savings.
Since that time, we’ve always had a melting pot of funds. For a very (very) short time I made 25 cents an hour more than him. But once we moved to Texas, his paycheck left mine in the dust.
Still, a dollar is a dollar, and we considered every expense carefully before we took it on. Every so often we make mistakes, but who doesn’t?
Many of my siblings (perhaps all) keep their incomes in separate accounts. Many of my friends too. It makes me wonder if our way is antiquated and provincial.
There’s a very good argument for keeping funds separate and I can’t fault the thinking behind it, but our way is so much easier when it comes to bookkeeping.
So here’s my question if you don’t mind me asking: Do you and your significant other keep separate accounts? Do you ever argue about money, or about who should pay what?
And how dumb were we to merge our money into one account before we married? 🙂 Go ahead, say it. It was dumb. We were lucky neither of us turned out to be rats and gold diggers.